Germany Rejects Intel's Request for More Subsidies for Chip Plant

Germany's Finance Minister Christian Lindner is refusing Intel's demands for higher subsidies for a 17-billion-euro ($18-billion) chip plant, saying the country could not afford it. The company was due to receive 6.8 billion euros in government support for its fabrication plant in Germany. However, due to higher energy and construction costs, it is now demanding about 10 billion euros. Intel is among several chipmakers seeking government funding to build factories in Europe.