The traditional British village pub sitting just a few minutes from a Roman fort(The Center Square) – The Biden administration on Monday instituted a new round of restrictions targeting the export of advanced semiconductor chips and manufacturing equipment to China. This move by the Commerce Department's Bureau of Industry and Security builds on previous measures aimed at curbing China's ability to develop cutting-edge technologies, particularly artificial intelligence and military applications. The new export controls place 140 manufacturers and investment companies on the Entity List, a U.S. compilation of "foreign individuals, companies, and organizations deemed a national security concern." "The United States has taken significant steps to protect our technology from being used by our adversaries in ways that threaten our national security," National Security Advisor Jake Sullivan said in a statement . The new controls will also block the sale of high-bandwidth memory, which is necessary for artificial intelligence. Semiconductors can be a strategic asset for AI systems, supercomputing, and other technologies for both civilian and military use. Sullivan continued, "As technology evolves, and our adversaries seek new ways to evade restrictions, we will continue to work with our allies and partners to proactively and aggressively safeguard our world-leading technologies and know-how so they aren't used to undermine our national security." According to a U.S. Government Accountability Office report, semiconductors, also known as computer chips, are typically smaller than a postage stamp and are composed of billions of components that can store, move and process data. More from this section Advanced semiconductors can be used for artificial intelligence, including in medical diagnosis and for military purposes, such as modeling nuclear explosions. The U.S. has been tightening down on the export controls on semiconductors to China since concerns over U.S. capacity to produce advanced semiconductors domestically when shortages began during the pandemic. This concern resulted in Congress enacting the CHIPS Act of 2022. Chinese foreign ministry spokesperson Lin Jian responded. "This type of behavior seriously violates the laws of market economy and the principle of fair competition, disrupts international economic and trade order, destabilizes global industrial and supply chains, and will eventually harm the interests of all countries," Jian said. Beijing intends to take firm, resolute measures to defend the interests of Chinese companies, he added. Assistant Secretary of Commerce for Export Administration Thea D. Rozman Kendler said, "The PRC's Military-Civil Fusion strategy presents a significant risk that advanced node semiconductors will be used in military applications that threaten the security of the United States, as well as the security of our allies and partners."

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Florida State made official on Monday the hiring of Gus Malzahn as offensive coordinator, confirming weekend reports that he would resign as UCF head coach to reunite with Seminoles coach Mike Norvell. UCF had confirmed on Sunday reports of Malzahn's exit but not his destination, and FSU had not made an announcement until Monday afternoon. "I am excited to be here at Florida State and to help us win championships," Malzahn said in a statement. "It's exciting to work with Coach Norvell, who is someone I believe in as a coach and leader." Norvell, who served as a graduate assistant under Malzahn at Tulsa in 2007-08, said on Saturday night after the Seminoles' 31-11 loss to Florida that he could not identify the new offensive coordinator until the hiring process was finalized. Florida State, which is 2-10 overall and 1-7 in the Atlantic Coast Conference, is ranked No. 132 of 133 FBS programs in total offense (270.2 yards per game). The Seminoles are 130th in the nation in scoring offense (15.4 points per game). Norvell shook up his staff, including firing offensive coordinator/offensive line coach Alex Atkins on Nov. 10 after a 52-3 defeat at Notre Dame. "I'm extremely excited to have Gus Malzahn join our staff at Florida State," Norvell said in the school's statement on Monday. "He has one of the most innovative minds in college football and a proven track record of developing elite offenses everywhere he's been. "His offenses have consistently showcased a tremendous running game combined with explosive plays through the air. I'm thrilled to work side-by-side with Gus again as we elevate the Florida State offense back to one of the elite groups in college football." UCF also endured a tough 2024 season, going 4-8 after losing eight of its last nine games. During Malzahn's four-year tenure, the Knights went 28-24, including 5-13 in the Big 12 Conference the last two seasons. Malzahn, 59, is 105-62 in 13 seasons as a college head coach, highlighted by a 68-35 mark in eight seasons at Auburn -- which included a BCS title game appearance in 2013. He served as offensive coordinator and play caller when the Tigers won the national title in 2010. Malzahn will be tasked with revitalizing a Florida State offense that helped produce a 13-1 campaign in 2023, when the Seminoles were denied a spot in the College Football Playoff. Over the last three seasons at UCF, his rushing attack has been in the Top 10 in the nation. In his 19 seasons as a college head coach or offensive coordinator, Malzahn's teams have averaged 447.7 yards per game, and three of his teams eclipsed 7,000 yards in a season. --Field Level MediaU.S. Energy Development Corporation (USEDC), an exploration and production company focused on the development of energy projects throughout North America, provides its outlook on the oil and gas markets in the wake of Donald Trump’s successful presidential bid and the Republican party securing control of the U.S. Senate and House of Representatives. • Deal Flow: Evaluated over 800 oil and gas opportunities, with strong deal flow continuing into Q4. • Capital Deployment: On track to deploy 100% of the projected $750 million announced earlier this year. • Focus Areas: Continued investments in the Permian Basin, recognized as one of the premier regions for predictable productivity and returns. • Improved Efficiencies: U.S. Energy continues to see wells decrease in cost per lateral foot while maintaining productivity, driving margin expansion. Matthew Iak, USEDC Executive Vice President, provides the following insights: Despite the geopolitical uncertainty in the U.S. and the rest of the world in 2024, the energy markets have remained relatively stable, and deal flow has been strong. It is almost paradoxical that during a tumultuous year, globally and domestically, the energy market’s remarkable achievement has been its truly unremarkable stability. For USEDC, we continued to see a steady, attractive deal flow, many at advantageous price levels for companies with a solid capital structure and robust infrastructure. We anticipate that our teams will evaluate 800-plus deals of all sizes in 2024 and expect to deploy 100% of the projected $750 million announced earlier this year. We continue to actively pursue and invest in deals within the Permian Basin, recognizing it as one of the best areas for predictable productivity and returns. In our recent Oil & Gas Market Update, “‘Drill Baby Drill’: Breaking Down the GOP’s Plan for Oil & Gas Dominance,” we highlighted how the post-election political landscape stands to open significant doors for oil and gas companies. With that said, questions around the current rule-making and regulatory environment remain to be answered, and we will be watching potential changes in this space closely. Proposed Department of Labor regulations could pose challenges across various sectors, while potential tax changes, like the elimination of certain tax treatments by the IRS, such as the 1031 deduction, promise a chilling effect on the oil and gas and real estate markets. This administration could drive positive change in the energy sector if it is able to foster more peace in the Middle East, maintain a strong dollar which makes oil more affordable in the U.S. and increases revenue from international buyers, maintain competitive corporate tax rates and policies, and unlock federal oil leases to boost production. A certainty in the U.S. economy for the past several years was the explosion of energy demand for data centers in almost every major market in the U.S. The advent of artificial intelligence (AI) and the seemingly exponential increase in electricity demand driven by these technologies has completely changed the conversation around domestic natural gas production. For the U.S. to continue to be the world’s leader in AI, data centers, and digital currency production, we also must be the world’s leader in affordable energy and energy infrastructure. Other energy sources, such as nuclear, present compelling options for meeting these demands sustainably and reliably over the long term. However, in the near term, natural gas stands out as a highly viable fuel source due to its extensive reserves – estimated to last for centuries under current consumption rates – and strong pipeline infrastructure. In the upcoming term of the new administration and beyond, it is going to be critical that our government and industry be pro energy in all forms. Conversations in Washington, D.C., Austin and other state capitals should take a long-term view and embrace all energy sources, fossil, nuclear and renewable. Signaling a long-term commitment to a pro-energy economy could make energy companies open to larger, longer-term investments in generation, pipelines and infrastructure that keep us ahead of our international competitors. For now, industries seem to be returning to long-term plans knowing they have at least four years with a pro-energy, pro-business administration. USEDC looks forward to making the most of this opportunity on behalf of the company and our partners. Source: U.S. Energy Development Corporation

NEW YORK (AP) — Technology stocks pulled Wall Street to another record amid a mixed Monday of trading. The S&P 500 rose 0.2% from its all-time high set on Friday to post a record for the 54th time this year. The Dow Jones Industrial Average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.