BLOOMBERG The US is hard at work with partners and allies to streamline global supply chains for semiconductors and restore its leading edge in chip technology, according to a top official overseeing the efforts. “We don’t want a race to the bottom,” Mike Schmidt, director of the Chips Program Office, told Tracy Alloway and Joe Weisenthal on Bloomberg’s “Odd Lots” …

BLOOMBERG  HSBC Holdings Plc said rising interest rates have put a deal to sell its French retail banking business into question, a potential blow to its plans to streamline its global operations. The UK lender said in a statement that “significant, unexpected interest rate rises in France” since it signed a memorandum of understanding with Cerberus’s My Money Bank in …

BLOOMBERG  Royal Bank of Canada (RBC) topped JPMorgan Chase & Co last year to become the world’s largest backer of fossil-fuel companies, providing more fodder to critics who say the lender isn’t living up to its climate commitments. Royal Bank provided $42.1 billion of funding to the industry, up 4.2% from a year earlier, surpassing the $39.2 billion provided by …