Microsoft AI Spending Surge Sparks Investor Jitters Despite Solid Azure Growth 
UK Vehicle Production Falls Sharply in 2025 Amid Cyberattack, Tariffs, and Industry Restructuring 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Elon Musk Reportedly Eyes June 2026 SpaceX IPO Timed With Planetary Alignment and Birthday 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
Copper Prices Hit Record Highs as Metals Rally Gains Momentum on Geopolitical Tensions 
Asian Currencies Slip as Dollar Rebounds Ahead of Fed Rate Decision 
OpenAI Reportedly Eyes Late-2026 IPO Amid Rising Competition and Massive Funding Needs 
CSPC Pharma and AstraZeneca Forge Multibillion-Dollar Partnership to Develop Long-Acting Peptide Drugs 
Trump to Announce New Federal Reserve Chair Pick as Powell Replacement Looms 
Wall Street Slips as Tech Stocks Slide on AI Spending Fears and Earnings Concerns 
Trump Threatens 50% Tariff on Canadian Aircraft Amid Escalating U.S.-Canada Trade Dispute 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Gold Prices Hit Record High Above $5,500 as Iran Strike Fears Fuel Safe-Haven Demand 
Apple Earnings Beat Expectations as iPhone Sales Surge to Four-Year High 
Chinalco and Rio Tinto Acquire Controlling Stake in Brazil’s CBA for $903 Million 
The Maire - EuroChem Case: Three Lessons for Global Business 
SK on Co., Ltd. and Ford Motor Company announced this week they have officially broken ground for the construction of their electric vehicle battery plant in Glendale, Kentucky, U.S.A. the project is part of the companies’ joint venture for EV battery production.
SK on and Ford Motor broke ground at the BlueOval SK Battery Park for their BlueOval SK JV. they have put in $5.8 billion for the manufacturing of advanced batteries for the future Lincoln and Ford electric vehicles. Production in the said plant is expected to begin in 2025 while also creating 5,000 new jobs in the said state.
As per The Korea Herald, the groundbreaking ceremony was attended by around 400 business leaders, local residents, US state and federal officials, and the SK Group’s executive vice chairman, Chey Jae Won.
It was reported that the construction of the Blue Oval SK plant is on schedule. Two mega manufacturing facilities for batteries are being built, and these are capable of producing more than 80-gigawatt hours per year.
The Blue Oval SK is a joint venture set up by SK on and Ford last year. The goal of the project is to establish a strong foothold so they can expand their market share in the battery market globally.
“Blue Oval SK Battery Park will be at the core of the electrification of the North American auto market,” SK on president and chief executive officer, Jee Dong Seob, said in a press release. “We expect SK On and Ford’s leadership in the global electric vehicle market to be solidified through BlueOval SK.”
David Hahm, the chief of Blue Oval SK, further stated in the same release, “At Blue Oval SK Battery Park, we’re building the future – state-of-the-art batteries for future Ford and Lincoln electric vehicles and a bright future for the workforce in Kentucky and in order to produce these batteries, we need a premier workforce that is trained in the latest battery and advanced manufacturing technology.”
Finally, the groundbreaking took place about a year and a half after SK on and Ford Motor announced their partnership in September 2021 with a total investment of $11.4 billion to build the two vast manufacturing campuses in the U.S.
