DAILY DOSE: September 29, 2021

Posted on 09/29/2021

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1. Ford Motor Company agreed to construct twin lithium-ion battery plants in Glendale, central Kentucky through a joint venture with South Korea-based SK Group called BlueOvalSK. The pair plan to invest more than US$ 11.4 billion in new U.S. facilities to manufacture electric vehicles and batteries. In addition, the JV is building a large 3,600-acre campus in Stanton, which is in west Tennessee. Ford will cover about US$ 7 billion of the US$ 11.4 billion.

2. On September 28, 2021, U.S. Senator Elizabeth Warren charged that Federal Reserve Chairman Jerome Powell has led an effort to weaken America’s banking system and called him a “dangerous man”.

3. JPMorgan Chase & Co. CEO Jamie Dimon informed the public that the bank has been prepping for a potential U.S. credit default as the debt limit talks go down to the wire.

4. COAL. China remains the world’s top coal consumer. With winter on the way and rising oil prices, China is in need of more coal.

5. According to U.S. Census data calculations that by 2030, it is projected that 20% plus of the U.S. population will be over the age 65.