Mark Faithfull of The Robin Report tells his readers move over Dubai, Saudi Arabia is taking center world stage. He writes: Saudi Arabia stands out as a youthful market overall, with last year’s census revealing that of the 32.2 million inhabitants, 63 percent of Saudis (42 percent of the total population) are under the age of 30 years old. That’s about 8.5 million people, while the median age of the entire population is just 29. That tees up Saudi Arabia as an attractive proposition for development. Saudi Arabia’s approach has not been without its critics, to say the least, dividing … [Read more...]
U.S. Trade Deficit Widens for Third Straight Month
Greg Robb of MarketWatch reports that the U.S. trade deficit hit $68.9 billion last month, the largest since last April. He writes: The numbers: The U.S. international trade deficit widened 1.9% in February to a seasonally adjusted $68.9 billion, the Commerce Department said Thursday. It is the third straight month with a wider deficit and the largest imbalance since last April. Economists surveyed by The Wall Street Journal had predicted the deficit would widen to $67.7 billion. [...] Overall global trade remains weak given the geopolitical tensions in many regions. Read more here. … [Read more...]
Nvidia Partner Bets $4 Billion on Chip Packaging Plant in U.S.
Jiyoung Sohn and John Keilman of The Wall Street Journal report that Nvidia partner SK Hynix is betting $3.9 billion on the Midwest’s chip-making potential. They write: South Korea’s SK Hynix said it plans to invest $3.9 billion in an advanced chip-packaging facility in West Lafayette, Ind., the latest win for Midwestern states seeking a bigger piece of America’s burgeoning semiconductor industry. The planned plant is set to mass-produce high-bandwidth memory, or HBM, a critical component to artificial-intelligence computing, SK Hynix said Wednesday. The facility, which will also host … [Read more...]
Earthquake Tests World’s Chip-Making Hub
Yang Jie of The Wall Street Journal tells his readers about how a Taiwan earthquake tested the readiness of the world's chip-making hub. Jie writes: The world’s most important semiconductor-manufacturing hub is also one of the world’s biggest earthquake hot spots, and it was put to the test Wednesday after a powerful quake. Taiwan Semiconductor Manufacturing—which makes chips for customers such as Apple and occupies a critical place in the global electronics supply chain—has prepared for years for a quake, drawing on lessons from a 2011 disaster in Japan among others. TSMC briefly … [Read more...]
The Fight for Guyana’s Stabroek Block Could Reshape Big Oil
Javier Blas of Bloomberg reports that the rights to an offshore field containing 11 billion barrels of oil are at stake in an arbitration dispute. Blas writes: The prize is called Stabroek — a series of oil fields off the coast of Guyana, the Latin American nation bordering Venezuela and Brazil. The potential riches are incredible — about 11 billion barrels of oil, worth nearly $1 trillion at current prices. And Stabroek is now at the center of a legal battle that hinges on the meaning of a few words contained in a secret document, probably about 100 pages long. The outcome will reshape Big … [Read more...]
EV Giant Shows Troubling Production Decline
Rebecca Elliott of The Wall Street Journal reports that Tesla cited production setbacks for a drop in sales, which was worse than analysts expected. She writes: Tesla TSLA reported its first year-over-year decline in quarterly deliveries since 2020, badly missing Wall Street’s expectations and stoking further concern about the company’s growth prospects this year. Elon Musk’s electric-vehicle maker delivered 386,810 vehicles globally in the first three months of 2024, down 8.5% from a year earlier. It was the company’s lowest quarterly performance since the third quarter of 2022. The … [Read more...]
Lithium Prices have Flipped the Market Into Contango
Yvonne Yue Li of Bloomberg reports that the drop in lithium prices has flipped the market into contango — when futures prices are higher than spot. This change has created opportunities for funds. She writes: Trading of CME Group Inc.’s nearly three-year-old lithium hydroxide futures contract is soaring, with more funds crowding into the budding market as prices of the battery metal falter. The number of outstanding contracts hit a record high of 24,328 in the first quarter, and open interest extends to September 2025 — an indication of more liquidity for the nascent contract, according … [Read more...]
After 20 Years USPS Taps New Air Cargo Partner
Esther Fung and Will Feuer of The Wall Street Journal report that the United States Postal Service has made a change after 20 years and will no longer use FedEx for moving its air cargo starting in September 2024. They write: The U.S. Postal Service has tapped United Parcel Service as its primary partner for moving cargo by air, replacing FedEx, which had provided the service for more than two decades. The new contract between UPS and USPS will begin in late September and run through at least March 2030, the Postal Service said Monday. Under the agreement, UPS will handle domestic air … [Read more...]
Baltimore Bridge Collapse Upending U.S. Supply Chains
The Dali containership stuck under Baltimore’s collapsed Francis Scott Key Bridge may remain in place for weeks, blocking shipping at one of the U.S.'s busiest ports. Here’s what that means for major industry supply chains. … [Read more...]
U.S. Electrical Grid: Is America Being Set Up for Failure?
Sarah Shinton of IndustryWeek tells her readers that advanced semiconductor equipment requires ten times more power, and the U.S. grid is not up to the task. She writes: In 2022, the White House signed the CHIPS and Science Act into law, a bipartisan effort to increase domestic advanced semiconductor manufacturing. The legislation made a historic $52 billion investment in American semiconductor research, manufacturing and workforce development. Over a year later, new projects are facing construction delays and permitting issues, raising concerns over efforts to expand domestic … [Read more...]
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