News

Manufacturing

Samsung Vice Chair Lee in US To Finalize $17 Billion Chip Plant Site, Meet With Moderna on Vaccines

Kimberly Redmond | Equities.com |

Samsung Electronics Co vice president Jay Y. Lee has embarked on a high-profile business trip to the US to finalize the company’s plant to build a $17 billion semiconductor plant and discuss COVID-19 vaccines with Moderna Inc. 

Reuters reported that Samsung’s decision on where it will locate its new plant with coincide with Lee’s trip, which kicked off Sunday. https://www.reuters.com/business/samsungs-lee-visits-us-ahead-likely-17-bln-chip-plant-decision...


Moderna Cuts COVID-19 Vaccine Sales Forecast; Shares Plunge 16%

Reuters | Equities.com |

Moderna Inc (MRNA) on Thursday slashed the 2021 sales forecast for its COVID-19 vaccine by as much as $5 billion, as it struggles to fill vials and distribute them around the world, sending its shares down nearly 15% before the opening bell.

Moderna executives said production challenges now lie with bottling up doses, also known as fill and finish, and ramping up infrastructure to deliver them internationally, rather than production of raw material.


New Factory Orders Increase 1.2% in August, Greater Than Expected

Reuters | Equities.com |

New orders for U.S.-made goods accelerated in August, pointing to sustained strength in manufacturing even as economic growth appeared to have slowed in the third quarter because of shortages of raw materials and labor.

The Commerce Department said on Monday that factory orders increased 1.2% in August. Data for July was revised higher to show orders rising 0.7% in July instead of gaining 0.4% as previously reported. Economists polled by Reuters had forecast factory orders gaining 1.0%.


China's Purchasing Managers' Index Falls to 50.1 in August

AP News | Equities.com |

China’s factory activity decelerated in August as export demand weakened, a survey showed Tuesday.

The monthly purchasing managers’ index of the Chinese statistics bureau and an official industry group declined to 50.1 from July’s 50.4 on a 100-point scale on which numbers above 50 show activity increasing.


US Factory Orders Rose 1.5% in June, Ahead of Forecasts

Reuters | Equities.com |

New orders for U.S.-made goods increased more than expected in June, while business spending on equipment was solid, pointing to sustained strength in manufacturing even as spending is shifting away from goods to services.

The Commerce Department said on Tuesday that factory orders rose 1.5% in June after advancing 2.3% in May. Economists polled by Reuters had forecast factory orders increasing 1.0%.

Orders soared 18.4% on a year-on-...


Intel in Discussions To Acquire GlobalFoundries for $30 Billion

Reuters | Equities.com |

Intel Corp is in talks to buy semiconductor manufacturer GlobalFoundries Inc for about $30 billion, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Any deal talks don't appear to include GlobalFoundries directly, as a spokesperson for the company told the Journal it was not in discussions with Intel, according to the report.


Samsung SDI Exploring US-Based Battery Cell Production

Kimberly Redmond | Equities.com |

One of South Korea’s biggest battery makers, Samsung SDI, is reportedly looking to expand its battery cell manufacturing capabilities in the US to help meet growing demand for electric vehicles.

A confidential source told Reuters that the battery maker, a unit of Samsung Electronics, is considering a US factory as either a joint venture or as an independent manufacturing site.


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