Wolfspeed, a North Carolina semiconductor manufacturer for electric vehicles, has reached a bankruptcy agreement to reduce its $6.5 billion debt by over two-thirds, effectively wiping out existing shareholders. The company plans to formally file for bankruptcy soon and aims to emerge by the end of 2025, while navigating challenges from rising interest rates and changing government policies.
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Trump conditions $1.9B in disaster funds on rejection of Israel boycotts – Middle East Monitor
The Trump administration announced it may withhold approximately $1.9 billion in disaster preparedness funding from states and cities that endorse boycotts against Israel or Israeli businesses. FEMA's grant conditions stipulate that applicants must not support any actions that limit commercial relations with Israeli entities, as detailed in the terms for the 2025 fiscal year. Want More Context? 🔎
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