Global business updates: Tech investments, VW asset sales, and geopolitical economic shifts
South Korean tech giants plan massive AI chip investments, while Volkswagen considers asset sales. Sovereign funds eye energy and question the dollar, as EU producers seek to block Russian aluminum. Ukrainian MP Mykola Tyshchenko faces corruption charges.
South Korean tech giants Samsung Electronics and SK Hynix are reportedly planning significant investments, allocating approximately $520 billion for four new chip factories and an additional $356.36 billion for three AI data centers. Concurrently, Volkswagen is exploring the sale of assets like PowerCo or Ducati following substantial workforce reductions, though this may not fully stabilize the German automaker. Separately, sovereign funds and central banks overseeing $29 trillion are shifting investments towards energy assets and voicing increasing apprehension regarding the US dollar's future. European aluminum producers are urging Brussels to address a loophole that allows sanctioned Russian aluminum into the EU market. Meanwhile, Ukrainian MP Mykola Tyshchenko has been served with a suspicion notice by NABU and SAP, facing accusations of demanding over $1 million for non-interference in call center activities, money laundering, and submitting false declarations. Sources: Forbes Ukraine
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Earlier coverage
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