The Commission's action comes as a global chip shortage and supply chain bottlenecks have created havoc for car makers, healthcare providers, telecoms operators and others.
"We are, therefore, adapting our state aid rules, under strict conditions. This will allow - for the first time - public support for European 'first-of-a-kind' production facilities, which benefit all of Europe." Ms Vestager, asked if the Commission was bending state aid rules, said funding approval would be based on a rarely used provision in the EU treaty and that aid had to be proportionate, have a pan-European impact and not be more than was necessary."Because we cannot just authorise any subsidy where one is higher than the other.
Britain's Arm Ltd, which named a new CEO on Tuesday, said it would go public before March 2023 and Masayoshi Son, boss of parent firm SoftBank, indicated that would be in the United States, most likely the Nasdaq.
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