Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Samsung Electronics has finally appointed Lee Jae Yong as its new chairman after serving as its de facto leader since his father, Lee Kun Hee, died in 2020. He will now formally succeed his father and lead the company after being sidelined from participating in major business dealings of the company for a long time.
Lee was prohibited to take part in major business activities and transactions at Samsung as he was convicted of bribery and embezzlement - violations that put him in jail for months. He was pardoned in August and this gave him the freedom to work without any prohibitions at the company.
The 54-year-old billionaire and heir of the Samsung Group is now the company’s executive chairman and the announcement of his promotion on Thursday, Oct. 27, made his new role official. He has already started working on boosting Samsung’s businesses worldwide and will continue on this route to help the country’s economy while also aiming to become a leading name in various markets and trades on the global stage.
Samsung Electronic’s board approved the appointment of Lee Jae Yong and the group said they backed the decision as the company is currently facing an uncertain global business environment. The directors added that there is a “pressing need for stronger accountability and business stability,” thus suggesting that Lee’s promotion is the best way to go.
"The Board of Directors of Samsung Electronics today approved the appointment of Lee Jae Yong as executive chairman of the company,” The Korea Times quoted Samsung Electronics as saying in a statement. “The board accepted the selection that was recommended by Independent Director and Board Chairman Kim Han-jo."
Lee Jae Yong has now become the third chairman of Samsung Electronics which has been considered the top memory chipmaker in the world. He is succeeding his grandfather Lee Byung Chull, who founded the company, and his father Lee Kun Hee.
“During this period, we have had to confront many challenges, and at times, we have struggled to make breakthroughs,” Lee Jae Yong said as he takes on a new role. “Without a doubt, we are at a pivotal moment, and now is the time to plan our next move.”
Photo by: 정수 이/Pixabay
