24.11 - News Briefing

Samsung choose Texas as the venue for their new computer chip plant. Driven by the shortage of semiconductors and supply chain issues, Samsung is not the only manufacture to move some of its operations to the US with TSMS doing something similar. The move is expected to create 2,000 new jobs and Samsung will received a $27m grant from Texas for creating the additional jobs.

 

The US, along with the UK, China, India and other major oil consuming nations, are releasing barrels of oil from its reserves in order to bring down soaring energy prices. OPEC are reluctant to increase capacity in case another surge of COVID creates more supply then demand, as seen during the first pandemic.