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Samsung to Invest $356 Billion over Five Years in Strategic Sectors

Samsung Electronics announced shall invest 450 trillion won ($356 billion) over the next five years to bolster growth in semiconductors, biopharmaceuticals, and other next-generation technologies.

Samsung stated on Tuesday that the investments will aid the firm in achieving long-term growth in pivotal spectrums like the chip industry, while also promising aggressive expenditures in the biopharmaceutical industry to make it as successful as its chip segment.

MACROECONOMIC DATA ANALYSIS

Central bankers in the United States generally uphold two more significant interest rate hikes in June & July, but what happens beyond that is a source of heated internal dispute, predominantly due to conflicting views on how price pressures will play out in the coming months. As said by the Atlanta Federal Reserve Bank President Raphael Bostic, “I'm an optimist and I'm assuming inflation will have started to definitively move”.

South Korea's central bank is expected to boost its benchmark rate for the second time in a row on Thursday to retaliate against inflation, currently at double its target, pushing rates higher by the end of the year than previously thought. Inflation in Asia's fourth-largest economy hit a 13-year high peak of 4.8% in April, as the fallout from the Russia-Ukraine conflict and a weakening won, which is down 7% this year, surged prices. For over a year, inflation has remained above the central bank's target of 2%.

CURRENCIES

The U.S. dollar was lower on Tuesday morning after European Central Bank President Christine Lagarde decided not to rule out a 50-basis point interest rate hike at the bank's July meeting. The U.S. dollar index, which measures the value of the greenback against a basket of other currencies, fell 0.04% to 102.060.

GOLD

Gold futures inched higher in Tuesday’s early hours, despite a stronger dollar greenback which typically weighs down on the precious metal. The U.S dollar was up, stabilizing following a drop earlier in the session which helped the yellow metal reach its highest level in two weeks. The bullion edged 0.37% higher to the price at $1,854 per ounce.

OIL

Oil prices dipped in Tuesday’s early trading hours as recession-related worries and China's coronavirus limitations overcame expectations of limited global supply and increased gasoline demand, amid the summer driving season arriving in the United States. Brent futures fell 0.53% to $110.19 a barrel, and WTI oil futures dropped by 0.34% to $109.89 per barrel.

INDICES  

USA: S&P500 +1.86%, Dow Jones Industrial Average +1.98%, Nasdaq Composite +1.68%

Europe: FTSE 100 -0.53%, DAX -1.24%, CAC 40 -1.43%

Asia: Nikkei 225 -0.94%, Hang Seng -1.75%, CSI 300 -2.34%, Nifty 50 -0.79%

 

Newest

Tim Cook makes the most direct indication yet that Apple is creating a headset.

Tim Cook, the CEO of Apple, has provided the closest thing to a confirmation that the company is developing a headset.

In a recent interview with China Daily USA, Cook was questioned about what, in his opinion, are the essential elements for augmented reality, or AR, to be successful in the consumer market.

“I am incredibly excited about AR as you might know. And the critical thing to any technology, including AR, is putting humanity at the center of it,” he said, echoing comments he’s made in the past about how important AR is to the company.

Meta and others tech titans create the metaverse standard body

Meta, Microsoft, and other tech titans racing to build the emerging metaverse concept have formed a group to encourage the development of industry standards that will make the companies' nascent digital worlds compatible with one another.

The World Wide Web Consortium (W3C), as well as other well-known standards-setting organizations, are among the participants in the Metaverse Standards Forum, according to a statement released by the group on Tuesday announcing its formation.

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