Overview of TOP weekly news 8.12. 2021

08 / 12 / 2021
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New battery factory

Toyota Motor has announced plans to build a new battery plant in North Carolina. The value of the investment is expected to be around $ 1.29 billion for electrified vehicles. Production is expected to provide enough lithium-ion batteries for 200,000 fully electric and plug-in hybrid electric vehicles and is not expected to begin until 2025. The plant will be located near Greensboro in central North Carolina and will open 1,750 jobs, Toyota said.

Toyota Motors’s performance over 5 years. (Source: Investing.com)*

China Evergrande Group is heading for disaster

Developer China Evergrande Group again failed to pay its liabilities and thus approached a formal default. The non-payment of interest payments of $ 82.5 million, which were due last month, will result in a cross-default of the company’s international bonds of approximately $ 19 billion. Such debt puts the developer at risk of becoming the biggest defaulter in China. Investors are still watching Evergrand’s development, especially whether it is moving towards debt restructuring or a creditor repayment plan.

Facebook was shaken by another departure of a manager

Julien Codorniou has resigned as head of the Workplace enterprise software department on Facebook. This is another and probably the last significant departure from the company in 2021. Julien Codorniou was the vice president responsible for the Workplace. Facebook, after the new Meta, is facing not only sharp criticism this year but also many departures. For example, the head of the Facebook Marketplace and the director of income left the technology giant.

Visa launches crypto consulting services

The payments processor its crypto advisory practice, housed within its consulting and analytics division, will offer advice to financial institutions, retailers and other firms on everything from rolling out crypto features to exploring non-fungible tokens. The company is also developing products geared toward stablecoins. Crypto for Visa is a huge new vertical and growth opportunity. And the company will be continuing to focus on growing this business moving forward

Watch this week:

  • On Thursday, U.S. Initial Jobless Claims will be release
  • On Friday, will be published U.K. Gross Domestic Product in the inflation-adjusted value

* Past performance is no guarantee of future results

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