Brent rises after Vance warns Israel against breaking cease-fire

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Brent crude oil prices rose on Thursday after U.S. Vice President JD Vance warned Israel against further attacks on Iran-backed Hezbollah in Lebanon, raising doubts about the durability of the U.S.-Iran ceasefire agreement. commodity, oil price, US-Iran deal, Strait of Hormuz, Niaga AWANI   Trump says Apple to partner with Intel on US chip design, production U.S. President Donald Trump said in a Truth Social post on Thursday (June 18) that Apple had agreed to work with Intel to design and build its chips in the United States.      Intel had reached a preliminary deal to make some chips for Apple, following discussions that went on for more than a year, the Wall Street Journal reported in May.      A deal with Intel helps Apple diversify its manufacturing base as it seeks more chip capacity. The company relies heavily on TSMC, whose advanced production lines are in ⁠high demand from AI chipmakers such as Nvidia and AMD.

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00:00Apple has agreed to work with Intel to design and manufacture its chips in the U.S. President Donald Trump

00:05said on Thursday

00:06in what would be a major boost for the American chipmaker's efforts to turn around its business.

00:12An Apple contract would lock in steady demand from one of the world's largest consumer electronics companies,

00:18boosting Intel's reputation and sales as it looks too close to get with rival TSMC, the world's biggest contract chipmaker.

00:28For Apple, the deal will help diversify its manufacturing base and add chip capacity

00:32at a time when its key partner TSMC has been stretched thin by Surgeon Giman from AI chipmakers such as

00:39NVIDIA and AMD.

00:42Intel shares rose 7% to record, set to add to their three-fold gain so far this year, while

00:48Apple was up 0.8%.

00:50Intel reached a preliminary deal to make some chips for Apple after more than a year of discussions,

00:56the Wall Street Journal reported in May.

00:59Trump did not specify which chips Intel would make for Apple in the true social post about the agreement.

01:05He said it was his latest effort to help Intel, in which the U.S. government has a 10%

01:10stake

01:10after pushing for deals with NVIDIA and Tesla.

01:14Intel supplied processors for Mac laptops for around 15 years until 2020,

01:19when Apple switched to its in-house M-Series chips manufactured by TSMC.

01:25The M-Series has been credited with boosting Mac sales since the switch.

01:30Last year, Trump had called for resignation of Intel CEO Leap Putan over his ties to China

01:35before announcing a deal that made the U.S. government the biggest shareholder in the chipmaker.

01:41Trump had earlier said he should have asked for more of a stake in Intel

01:45eight months after the government's Intel position grew to be worth more than $50 billion.

01:50The administration has been stepping up efforts to secure U.S. supply chains

01:54for critical minerals and semiconductors,

01:57including taking equity stakes in companies to reduce reliance on China.

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