By Kanishka Singh
WASHINGTON (Reuters) -President Donald Trump's administration will release more than $5 billion in previously approved funding for K-12 school programs that it froze over three weeks ago under a review, which had led to bipartisan condemnation.
KEY QUOTES
"(The White House Office of Management and Budget) has completed its review ... and has directed the Department to release all formula funds," Madi... (continue reading...)
(Reuters) -Intel is planning to separate its networking and communications unit into a stand-alone company and has begun the process of identifying investors, the chipmaker said on Friday, as new CEO Lip-Bu Tan looks to streamline its operations.
Tan's plan to rejuvenate the once-iconic chipmaker focuses on shedding non-core assets and reducing expenses by scaling back major investments and cutting workforce numbers.
Reuters reported in May... (continue reading...)
Investing.com -- Intel (NASDAQ: INTC) plans to spin off its Network and Edge Group (NEX) into a stand-alone company and is seeking outside investment for the business unit, according to a memo reportedly sent to customers and cited by the CRN on Friday.
The memo, authored by Sachin Katti, who has led NEX since early 2023, revealed that Intel "internally announced" on Thursday its plan to establish NEX as a stand-alone company. Katti also serves as Intel’s chief... (continue reading...)
Investing.com -- Shares of mortgage finance giants Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC) fell 7% in Friday trading after Federal Housing Finance Agency (FHFA) Director Bill Pulte indicated the companies would likely remain in conservatorship.
The decline extended into a second consecutive day of losses, with the stocks at one point dropping as much as 15% for Fannie Mae and 16% for Freddie Mac, marking their steepest intraday falls since early June.
In... (continue reading...)
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