Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Samsung is building its new chip factory in Texas and has chosen Taylor city for the exact location. The South Korean multinational company is investing $17 billion to build the facility with the aim of helping to end the global semiconductor shortage.
According to CNN Business, this project is Samsung’s largest investment in the United States, and it will be creating 2,000 new high-tech jobs, and thousands more are expected to be offered to the locals once the plant is fully operational. Based on the announcement, the company is aiming o start operations in the second half of 2024.
As for the choice of location, Samsung shared it picked Taylor in Texas after considering many factors. One of the reasons is the site’s being in close proximity to Samsung’s other manufacturing facility in Austin. Also, the company took note of the local government support as well as the local semiconductor ecosystem.
“As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future,” Samsung Electronics Device Solutions Divisions’ vice chairman and chief executive officer, Kinam Kim, said in a press release. “With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain.”
He added that Samsung is also very proud that it can bring more jobs to the community and be able to offer training and support talent development for the locals. He also noted that the company is celebrating its 25th year in the chip manufacturing business in the U.S. Kim went on to say that their team is also thankful to the Biden Administration, the congress, and their partners for creating an environment that supports companies like Samsung.
Meanwhile, the groundbreaking for Samsung’s new chip facility in Taylor has been scheduled to take place in the first half of 2022. The entire semiconductor facility will cover more than five million square meters of land, and it will be the main location where the company will produce a large number of chips to be supplied worldwide.
