Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Lego is building a new factory in the United States with an investment of more than $1 billion. The company announced its plan this week, and the site covers 1.7 million square feet of floor area.
With the new factory, Lego is expected to create around 1,800 new jobs once it is completed by the year 2025. It was reported that this would be the Danish toy production company’s seventh global plant and the second building in North America. The other facilities are located in Monterrey, Mexico.
According to CNN Business, Lego had a factory in Connecticut, but it was shut down in 2006 as the company said that children preferred to play with electronics. However, the COVID-19 pandemic has drastically changed the lifestyles of the people.
With more households looking for entertainment as they spend more time at home these days, Lego is one of the businesses in the toy-making industry that is experiencing a pandemic-induced boom today.
The company’s sales increased by 27% last year as new store openings in China yielded good results. People are flocking to re-opened shops once again; thus, the sales had gone up after depressing results at the time when the pandemic locked people up at homes due to lockdowns. The sales reportedly reached more than $8 billion in 2021.
In any case, Lego chose to build its new facility in the U.S. in the state of Virginia, and construction is set to start in the fall of this year. The actual production of Lego toys and blocks is expected to begin in the second half of 2025.
“This is an exciting step for the LEGO Group. More and more families are falling in love with LEGO building and we are looking forward to making LEGO bricks in the U.S., one of our largest markets,” Lego Group chief executive officer, Niels B. Christiansen, said in a press release. “The location in Virginia allows us to build a solar park which supports our sustainability ambitions and provides easy links to country-wide transportation networks. We are also looking forward to creating fantastic employment opportunities for the people of Virginia.”
