Oil giant British Petroleum (BP) has temporarily halted all its tanker transits via the Red Sea after attacks on ships by Iranian-backed Houthi militants based in Yemen escalated.
Industrials
LG Chem Signs Deal With GM to Build $3 Billion EV Battery Cathode Factory — The Largest of Its Kind in the US
LG Chem has entered into an agreement with General Motors (GM), which includes a plan to build a massive battery cathode factory in Tennessee.
Biden Administration Unveils $11 Billion Semiconductor R&D Initiative to Create More Jobs for Americans
The Biden administration has announced an $11 billion investment in semiconductor-related research and development and a $5 billion fund to launch the National Semiconductor Technology Center.
Taiwan Chip Giant TSMC to Build Second Japan Factory, With Sony and Toyota Also Investing in the Venture
Taiwan Semiconductor Manufacturing Co. (TSMC) has announced its plan to establish a second manufacturing plant in Japan, with support from tech giant Sony and carmaker Toyota.
Oil Climbs 1% After Houthi Rebels Attack on British Oil Tanker; Trafigura Assesses Red Sea Risks
Trafigura is evaluating the security risks of future Red Sea voyages following an attack on the company's Marlin Luanda oil tanker by Yemen-based Houthi rebels.
Latest News
Japan's Nippon Steel has secured a deal to buy US Steel for $14.9 billion. Japan's Nippon Steel has secured a deal to buy US Steel for $14. 9 billion.
Observing the overall stock markets, a report identified the five stock market sectors best for investment in 2017. Predicted to continue the upward trend and have lots of potential for profits are the automobile industry, building and construction, industrial machinery, toys sector, and water sector.
China's industrial sector gets a boost in profit as it gained a 9.8% year on year growth in October. The upsurge was a reselt of the improvement in the country's raw materials sector.
Medical marijuana will be legalized after Gov. Wolf signs the bill on Sunday after the 149-46 vote in favor of marijuana legalization. However, it will take about two years before sufferers of acute ailment can get advantage of the benefits because of the several processes including regulatory and growing process.
The acquisition of Greybull Capital of Tata Steel's UK long product business will save thousands of jobs and was accepted by the steelworkers after two years of uncertainty.
Due to extreme dry weather conditions, African farmers are seriously affected by their crops failure with little or no more money to replenish their lands or support their families. With the mobile drought insurance, farmers are protected from such harsh conditions by paying a small surcharge fee upon purchase of seeds and fertilizers registered with an insurance company.
Ntel is seeking $1 billion loan investment for its 4G mobile broadband expansion for 2020 to take advantage of the increasing number of smartphone users in Africa. It will start its 4G LTE service to Abuja and Lagos by April 8 competing with other Nigerian four company internet and broadband providers.
Meketa Investment Group has increased its employee ownership team. It has included seven new shareholders into employee ownership team. Meketa is optimistic on adding new expertise and talent that supports its business expansion plan across different geographies.
Tata Steel put its British business up for sale on Tuesday as the company faces continuous loss in its British operation. Thousands of jobs is at risk.
