WASHINGTON (Reuters) - The Biden administration plans to announce it is awarding between $6 billion and $7 billion to South Korea's Samsung next week to expand its chip output in Taylor, Texas, as it seeks to ramp up chipmaking in the U.S., two people familiar with the matter said. The subsidy, which will be unveiled by Commerce Department Secretary Gina...

01:46 PM EDT, 04/08/2024 (MT Newswires) -- CorMedix ( CRMD ) said Monday it entered a five-year agreement to supply its DefenCath product to Florida-based dialysis organization ARC Dialysis. DefenCath was approved in the US in November 2023 and CorMedix ( CRMD ) plans to commercialize the product in the inpatient setting starting April 15. Price: 4.73, Change: +0.02, Percent...

01:45 PM EDT, 04/08/2024 (MT Newswires) -- Graphjet Technology ( GTI ) said Monday it plans to set up a commercial artificial graphite production plant in Nevada. The facility is anticipated to recycle up to 30,000 metric tons of palm kernel material equivalent, generating approximately 10,000 metric tons of battery-grade artificial graphite annually. This output is anticipated to support the...

01:37 PM EDT, 04/08/2024 (MT Newswires) -- Consumer stocks were rising Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 1.1%. In corporate news, Tesla (TSLA) shares jumped 5.4% after Chief Executive Elon Musk said on X that the company will unveil a Robotaxi on Aug....