Intel secures $2bn lifeline from Japan’s SoftBank

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SoftBank has agreed to invest $2bn (£1,5bn) in Intel, amid reports that Donald Trump’s administration is also considering a stake in the struggling US chip maker,The Japanese technology investor announced the multibillion-dollar deal on Tuesday, in a move expected to give it a 2% stake in the business,Masayoshi Son, the chief executive and chair of SoftBank, described Intel as a “trusted leader in innovation”,“This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the US, with Intel playing a critical role,” he said.

Shares in the chip maker, which is listed in New York, rose by more than 5% in after-hours trading, while shares in the Tokyo-listed SoftBank dropped by about 4%,Intel is valued at more than $100bn,The US government is reportedly also considering taking a stake in Intel,It could be as high as 10%, according to Bloomberg,The White House did not respond to a request for comment.

Lip-Bu Tan, an industry veteran who took the top job at Intel four months ago, has been tasked with a huge turnaround project at the business,The company has suffered from slow sales and continued losses as it has struggled to maintain its technological edge in recent years,On Tuesday, Tan said Intel was “very pleased to deepen our relationship with SoftBank, a company that’s at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing US technology and manufacturing leadership”,He had “worked closely together [with Son] for decades”, he added,Donald Trump initially called for Tan’s resignation, accusing him of having ties to the Chinese Communist party.

However, after meeting Tan in Washington last week, the president praised the Intel boss, saying he had “an amazing story”.If the US government takes a 10% stake in the business, it could surpass the asset manager Vanguard as the chip makers’s single biggest shareholder.It would mark the Trump’s administration latest attempt to intervene in an area of the private sector that it considers nationally strategic.Trump has threatened previously to impose tariffs of up to 100% on imported semiconductors and chips, which could favour Intel as a US-based semiconductor business.Earlier this month, the US government announced a deal that would result in chip makers such as Nvidia and Advanced Micro Devices paying 15% of their revenue from Chinese AI chip sales to the US government.

In July, the defence department also announced it would take a $400m preferred stake in the US rare-earth producer MP Materials,Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionFor SoftBank, the Intel investment expands its presence in the US, while the Japanese government pushes Trump to cut tariffs in exchange for investment in the American economy,The Japanese company committed to increasing its presence in the US last year, and Trump announced in December that SoftBank would pour $100bn into the US economy over the next four years,Danni Hewson, an analyst at the investment broker AJ Bell, said SoftBank’s investment provided “one vote of confidence that Tan’s recovery effort can be successful,“Intel has been left behind by the shift to AI with US peers like Nvidia and Advanced Micro Devices enjoying much greater success in this market,” she said.

“The company’s position as the last US manufacturer of high-end semiconductors of any scale means it has potential strategic significance across the Atlantic but translating this into improved operational and financial performance is now the big challenge.”
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There’s a lot more to lettuce than salad | Kitchen aide

My garden has produced an abundance of lettuce (mainly butter lettuce) this year but there’s a limit to how much salad I can eat. What else can I use them for? Julian, by email“Start thinking of lettuce, and especially butter lettuce, as bread or a taco shell,” says Jesse Jenkins, author of Cooking with Vegetables, and happily this is a “highly adaptable” strategy, too. Sure, you could pile in grilled spicy pork belly and herbs, but this dinner fix also works well “with everything a big green salad does: a piece of nicely grilled protein, some sauce, a few pickled crunchy things, all wrapped in a big, beautiful green leaf”. But why stop there? “I also like to use butter lettuce to wrap cheese toasties,” Jenkins says. “It catches all the fatty goodness and acts as a barrier between the crunchy bread and the roof of your mouth

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José Pizarro’s recipe for sweetcorn, chorizo and piquillo pepper fritters

It’s easy to forget that ingredients such as corn, peppers and even the pimentón in our chorizo all came from the Americas in the 15th century. Many of them first took root in Europe in Extremadura, where I’m from. In La Vera, peppers were smoked and ground into what became pimentón de la Vera and is now part of our food culture. These fritters, which are simple, quick and full of flavour, bring together all these ingredients with long journeys behind them and a solid place in the modern Spanish kitchen.Prep 10 min Cook 30 min Makes About 12125g cured chorizo, skinned and finely diced75g jarred piquillo peppers, drained and finely chopped2 corn cobs, kernels shaved off with a big sharp knife125g plain flour 1 tsp baking powder Sea salt and black pepper 2 large eggs, beaten 160ml whole milk Olive oil, for fryingPut the chorizo, peppers and corn in a large bowl, add the flour and baking powder, and toss to coat

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‘They’re not chic!’ How did BuzzBallz become the undisputed drink of the summer?

Reef, Hooch and Bacardi Breezers are back in favour with gen Z – and BuzzBallz are the biggest hit of all. Why are they the essential alcopop at this year’s picnics, parties and festivals?When Merrilee Kick invented BuzzBallz in 2009, she was a 47-year-old teacher from Texas who needed to make some money fast. “I was about to get a divorce and was terrified of becoming homeless,” she says. “I was a high-school teacher not making enough money to survive, much less put two sons through college.” She had the opportunity to do an MBA through a teacher-enrichment programme, and came up with the idea for BuzzBallz one hot afternoon while marking homework

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Rukmini Iyer’s quick and easy recipe for charred corn salad with halloumi, broccoli and black beans | Quick and easy

This is my version of a chopped salad, and I love the textural contrast of the crisp broccoli against the soft black beans and squeaky halloumi. The lime-and-spring-onion dressing makes everything sing, while the slightly bitter note of the charred corn keeps things interesting. A filling rainbow salad for warm days.Prep 15 min Cook 15 min Serves 2-32 tbsp olive oil300g tin sweetcorn, drained225g halloumi, cut into ½cm slices200g Tenderstem broccoli, cut into ½cm pieces400g tin black beans, drained and rinsedFinely grated zest and juice of 1 lime20ml extra-virgin olive oil1 tsp flaky sea salt 3 spring onions, trimmed and finely slicedPut a tablespoon of oil in a large, heavy-based saucepan on a high heat. When it’s almost smoking, add the sweetcorn (stand well back!), then fry, stirring occasionally, for five minutes, until charred all over (stand back when you stir, too, because it’s going to try to pop at you like popcorn)

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Mitch Tonks’ sardine recipes, both fresh and tinned

Sardines are one of our most underrated fish, even though UK stocks are healthy and the fishery in Cornwall is certified sustainable. They are caught by seine netting at dusk just a few miles from shore, and the way they are fished means they’re in perfect condition when landed. My favourite way of eating them is left whole, guts in and heads on, topped with a healthy sprinkling of coarse salt and then grilled – they’re wonderful eaten just with your hands or on bread, but today I offer up two alternatives ways with sardines.You will see these delicious cicchetti, or snack, in bars all over Venice, where they sit piled high on the counter, ready to be served with a glass of wine or on top of a slice of bread. They make a great starter or light supper, and it’s a very good way to preserve the fresh fish for a few days, because the flavour gets only better with time

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The power of pulses: 15 easy, delicious ways to eat more life-changing legumes

Want to consume more gut-friendly fibre, as well as minerals, vitamins and antioxidants? Like the idea of a more sustainable diet? Here is the answer - and baked beans are only the startWorried about rising food prices, your diet’s carbon footprint or whether you’re eating healthily enough? Believe it or not, there could be a magic bullet: pulses.According to a study by the University of Reading, published in the European Journal of Nutrition in March, adults who eat more pulses – dried beans, peas and lentils – have a higher intake of nutrients including fibre, folate and vitamins C and E; minerals such as iron, zinc and magnesium; and a lower intake of saturated fat and sugar. Similar results have been found in American, Australian and Canadian research.The UK study also found that eating pulses was associated with a more sustainable diet. In her book, Pulse: Modern Recipes with Beans, Peas & Lentils, Eleanor Maidment explains that growing pulses has a positive effect on the environment