top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

15 Nov 2021

Samsung’s Jay Lee to Visit the U.S for $17 Billion Chip Plant

The Index Today

Samsung Electronics Vice Chairman Jay Y. Lee is expected to make his first formal visit to the U.S to conduct talks regarding the $17 billion U.S chip plant.

According to local media, Jay Y. Lee has departed from Seoul and is expected to complete his trip to Canada and North American to finalize the location for the chip manufacturing plant. Williamson County is currently being favored by Samsung as the location due to better incentives.

Jay Y. Lee previously announced the set up for a new chip plant after which Samsung has been looking at locations and comparing packages. Other factors which play a crucial role in the decision include utilities availabilities, energy supplies, costs and more. Due to a recent winter storm which made landfall in Texas, close to Samsung’s chip plant, the availability of a stable power source and utilities has become even more important. The storm managed to cause blackouts which in turn resulted in financial damages worth $254-$339.

The chairman Jay Y. Lee is expected to meet with many key figures to discuss the plant options. Previously, Lee has spent 30 months in jail over charges for embezzlement and corruption.

©Photo: Yonhap via Reuters

Clay pottery with table linens
bottom of page