Samsung continues to expand
Samsung Electronics Co. Ltd is close to finalizing the construction of a semiconductor factory. The value of the investment is around $ 17 billion and it is an area in the US state of Texas. The factory could employ up to 1,800 people and will focus on the production of advanced chips. Production at the plant could begin by the end of 2024.
Chinese giant Evergrande will sell its stake
Not only investors around the world are watching the situation around the developer China Evergrande Group. The company recently said it would sell 1.75 billion shares which owns in Shengjing Bank to Shenyang Shengjing Finance Investment Group for 5.70 yuan per share. The share is worth $ 1.5 billion. Markets are closely monitoring whether Evergrande will be able to repay its upcoming commitment, the payment of interest payments of $ 47.5 million. Unfortunately, the developer missed the last key payment.
China Evergrane Group’s performance over 5 years. (Source: Investing.com) *
Musk spoke again about the cryptocurrencies
A well-known visionary indirectly criticizes the effort to reduce cryptocurrencies. Elon Musk warned the latest US government to avoid an attempt to regulate the crypt market. He said that cryptocurrencies could not be destroyed, only slowed their rise. The crypto market was defended at the Code Code conference in Beverly Hills, California. Tesla’s CEO responded to a question from New York Times journalist Kar Swisher, who asked if the US government should get involved in cryptocurrency regulation.
Increasing demand for fuels in the UK
Drivers in the UK began to panic. They buy gas in bulk, and gas stations even began to close as a result. British Petroleum and Exxon Mobil Esso said they had to close several of their UK branches temporarily due to a lack of manpower throughout the industry. According to the Association of Retail Gasoline Retailers in the UK, up to 90% of places may soon be fuel-free.
Watch this week:
On Thursday, will be published U.K. Gross Domestic Product (GDP) QoQ which measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
On Friday, U.S. ISM Manufacturing Purchasing Managers Index (PMI) will be released.
Sources: CNBC, Investing, Reuters
[*] Past performance is no guarantee of future results