American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
General Motors announced this week that it will be reducing its production at four factories. The American automaker was forced to do this as chips needed to complete a vehicle has run out already.
GM reveals the suspension of productions in 4 plants
Supply for the automotive chips is so low that it is impossible for the production to continue. GM is suspending the manufacturing activities in three of its plants in North America and one in South Korea.
“We are currently assessing the overall impact, but our focus is to keep producing our most in-demand products – including full-size trucks and SUVs and Corvettes – for our customers, GM said in a statement.
The company listed its plants in Fairfax (Kansas), CAMI (Ingersoll, Ontario), and San Luis Potosi (Mexico) as the affected ones. In addition, the Bupyeong 2 assembly plant in S. Korea will also start operating at 50% capacity, only tarting on Feb. 8.
General Motors blamed the unavailability of parts as the main reason for the temporary halt. It is planning to give updates every week to inform workers if the parts are ready and work can resume.
“Our intent is to make up as much production lost at these plants as possible,” GM added. “Importantly, this issue will not impact our commitment to an all-electric future.”
The shortage of automotive chips
General Motors is the latest car manufacturer to have made announcements about the temporary halt in the production of vehicles. Previously, Ford already closed some of its plants due to the lack of chips. Nissan, Volkswagen, and Fiat-Chrysler have also either stopped or lessened their productions as well.
In other words, the chip shortage is already a global problem that most carmakers and tech companies are facing. The disruption or works due to this issue has already hurt many major companies.
It is hoped that the leading chipmakers will be able to boost the supply soon as they return to the business after being hindered by the pandemic. Currently, Taiwan’s TSMC agreed to fill the shortage and end the global shortage.
