The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Wisconsin Governor Tony Evers says the state is renegotiating its contract with Taiwanese contract manufacturer Foxconn to build a massive LCD plant in the state, after Foxconn approached state officials to propose changes in the deal.
The disclosure comes in a letter from Evers to Foxconn executive Louis Woo, a special assistant to Chairman Terry Gou and the company's point person on the project.
In 2017, amid great fanfare including a White House ceremony including President Trump, Foxconn officials and then-Wisconsin Gov. Scott Walker, the company announced plans for a $10 billion manufacturing complex outside Racine, Wisconsin, with the promise of 13,000 new jobs. In return, the state promised $4.5 billion in incentives, as well as infrastructure improvements in the state.
Since then, the program appears to have stalled and the company has announced changes in the product mix at the facility. After Woo suggested earlier this year that the company was scaling back its plans, the President reportedly intervened, and the company announced plans to break ground later this year.
Republicans, who control the state legislature, accused Evers, a Democrat, of sabotaging the deal.
But in his letter, Evers says Woo talked to him — as well as State Assembly Speaker Robin Vos and Senate Majority Leader Scott Fitzgerald — about unspecified changes to the deal at a meeting in March.
"To my knowledge, this was the first time either Foxconn or the State of Wisconsin has mentioned amending or changing the agreement approved on 2017," Evers wrote about the March meeting.
In response, Evers wrote, the state is identifying areas that "will enable greater flexibility and transparency as the project continues to evolve."
In a statement late Tuesday, Foxconn did not deny that it was seeking changes to the deal, but said it is still committed to the project.
"Foxconn has never wavered from our commitment to our contract with the State of Wisconsin and the creation of 13,000 jobs as part of our broader effort to make the Badger state a global technology hub," the statement said.
The company said it is engaged in "good faith discussions" with the Evers administration.
"We remain committed to continuing to work with Governor Evers and his team in a forthcoming and transparent manner, and remain open to further consultation, collaboration, and new ideas," the company said.