U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
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.
