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Nokia Pledges $4B US Manufacturing, R&D Investment
Electronics maker Nokia announced on Nov. 21 that it has committed to spending $4 billion to expand its manufacturing and research and development capabilities in the United States. The funds will help the Finland-based company to accelerate innovation in artificial intelligence-ready technologies in mobile, fixed access, internet protocol, optical and data center networking, according to the press release. The investment is also expected to help strengthen Nokia’s AI-optimized networking products and R&D in advanced networking technologies such as automation, quantum-safe, semiconductor manufacturing, testing, packaging and material sciences.
Nokia said it expects to spend around $3.5 billion on R&D in an effort to progress new technologies in connectivity and AI through all aspects of its telecommunications infrastructure, such as mobile, data center and defense solutions. The remaining $500 million will be invested in domestic manufacturing and R&D across Texas, New Jersey and Pennsylvania. The investment adds to the $2.3 billion Nokia spent to acquire chipmaker Infinera, which was completed in February, helping the company build on its commitment in U.S.-based manufacturing, advanced testing and packaging capabilities, per the June 2024 press release.
Read more at Manufacturing Dive
World’s Steelmakers Slow the Slide in Tonnage Production
Global steel production reversed a four-month slide of overall tons produced across the 70 nations reporting to the World Steel Association - totaling 143.8 million metric tons for October, a 1.0% improvement from September. Even so, the October tonnage is -5.9% less than the result for October 2024, and the new result brings the 2025 year-to-date total to 1.518 billion metric tons, a -2.1% decrease versus the January-October 2024 tonnage.
Most of the major steelmaking nations have been negatively affected since the U.S. imposed tariffs on imports of semi-finished steel in April - initially at 25%, now at 50% for almost all countries - but the global industry has been reducing its output for several years due to weak industrial demand and slow construction activity in various regions, and other complicating factors.
Read more at American Machinist
Novo Nordisk Ozempic Pill Fails in Alzheimer’s Trials
Novo Nordisk NOVO.B -9.58%decrease; red down pointing triangle shares fell sharply after the Danish drugmaker said a pill with the key ingredient in Ozempic and Wegovy didn’t slow Alzheimer’s disease in two late-stage clinical trials. The company said Monday that the trials didn’t confirm superiority of semaglutide compared with placebo in reducing the progression of Alzheimer’s disease. While most commonly used for weight loss and diabetes, Ozempic and others in the GLP-1 category of drugs such as Eli Lilly’s Mounjaro and Zepbound have shown efficacy in studies for heart, kidney and liver diseases.
Novo Nordisk said it decided to pursue an Alzheimer’s disease indication with semaglutide based on real-world evidence studies, preclinical models, and analyses of trials for diabetes and obesity. Some analysts had seen the move as something of a long shot. The trials, which enrolled more than 3,800 patients with early-stage Alzheimer’s, studied the efficacy and safety of oral semaglutide compared with placebo on top of standard of care. The company said treatment with semaglutide led to improvement in biomarkers related to Alzheimer’s, but this didn’t delay the progression of the disease. Novo Nordisk said it would discontinue an extension period in the trials. It plans to provide more details on the trials at a medical conference next month.
Read more at the WSJ
Boeing And Northrup Grumman Compete To Build A New Stealth Fighter For The US Navy
Boeing and Northrop Grumman are competing to build the US Navy's next-generation F/A-XX stealth fighter, which is expected to replace the F/A-18E/F Super Hornet in the 2030s. The Navy has moved the program to operational testing and evaluation, with Congress allocating $750 million to expedite development. Lockheed Martin has been eliminated from the competition.
The F/A-XX program is a high-profile aircraft competition that could define the future of naval aviation. The program will see a carrier-based combat jet to complement the F-35 aboard the Navy’s warships. The jet will offer significant advancements in operational capabilities, particularly in contested environments. Advanced range, endurance, and superior stealth capabilities will be key features of the aircraft. The F/A-XX is developed to enable and enhance integration with existing and future carrier-based air defence systems.
Read more at Aerospace Global
First Solar Selects South Carolina for New US Production Facility
First Solar announced earlier this month that it would build a new solar panel factory in Gaffney, South Carolina. According to a company release, the $330 million factory will onshore final production of the company’s Series 6 Plus photovoltaic solar panels. The company estimates the new factory, once at full capacity, will have an annual output of 3.7 gigawatts, bringing the company’s total annual nameplate capacity to 17.7 GW in 2027. Its other U.S. manufacturing sites are in Ohio, Louisiana, and Alabama. The new factory will take photovoltaic cells assembled internationally and assemble them into completed solar panels.
“The passage of the One Big Beautiful Bill Act and the Administration’s trade policies boosted demand for American energy technology, requiring a timely, agile response that allows us to meet the moment,” said Mark Widmar, First Solar CEO. “We expect that this new facility will enable us to serve the U.S. market with technology that is compliant with the Act’s stringent provisions, within timelines that align with our customers’ objectives.”
Read more at Plant Services
Economic Confidence Improved Slightly After Shutdown Ended—But Remains Near Historic Lows
Consumer sentiment—a monthly measurement of Americans’ views on the economy—dropped to 51 in November from 53.6 in October, a slight improvement from a preliminary reading of 50.3, a reading of the University of Michigan’s study found. The preliminary reading came within reach of an all-time low set in June 2022. A measurement of how Americans currently view the economy dropped to an all-time low of 51.1, down from a preliminary reading of 52.3 and the historical benchmark of 100, as consumers expect prices to rise 4.5% over the next year.
Americans are “frustrated about the persistence of high prices and weakening incomes,” Survey director Joanne Hsu said. Rising prices and steady inflation continue to be a concern among consumers, according to Hsu, who said respondents are reporting their personal finances are “weighed down” by current price tags. Earlier this month, Hsu said consumers were withstanding “pressure” on their finances from “multiple directions,” as Americans anticipated the job market to continue deteriorating and expected to be “personally affected.” The latest report found that consumers’ expectations about losing their jobs fell to the highest reading since January 2020.
Read more at Forbes
Astrazeneca To Invest $2 Billion As Part Of US Manufacturing Push
AstraZeneca said on Friday it will invest $2 billion to expand its manufacturing footprint in Maryland as part of its previously announced $50 billion plan to expand manufacturing and research capabilities in the U.S. by 2030. Global pharmaceutical companies have been ramping up investments in the United States to expand production capacity, following President Donald Trump's call for the industry to make more medicines domestically instead of importing active ingredients or finished products.
The Anglo-Swedish drugmaker's $2 billion investment will help expand its biologics manufacturing facility in Frederick and construct a new state-of-the-art facility in Gaithersburg for the development and clinical supply of drugs to be used in trials. This investment marks the fourth in AstraZeneca's larger expansion plan, and will support 2,600 jobs across the two sites in Maryland, including the creation of 300 highly skilled jobs.
Read more at Reuters
Americans Are Holding Onto Devices Longer Than Ever - It’s Impacting The Economy
The average American now holds onto their smartphone for 29 months, according to a recent survey by Reviews.org, and that cycle is getting longer. The average was around 22 months in 2016. While squeezing as much life out of your device as possible may save money in the short run, especially amid widespread fears about the strength of the consumer and job market, it might cost the economy in the long run, especially when device hoarding occurs at the level of corporations.
Research released by the Federal Reserve last month concludes that each additional year companies delay upgrading equipment results in a productivity decline of about one-third of a percent, with investment patterns accounting for approximately 55% of productivity gaps between advanced economies. Experts agree lost productivity and inefficiency are the unintended consequences of people and businesses clinging to aging technology. The good news: businesses in the U.S. are generally quicker to reinvest in replacing aging equipment. The Federal Reserve report shows that if European productivity had matched U.S. investment patterns starting in 2000, the productivity gap between the U.S and European economic heavyweights would have been reduced by 29 percent for the U.K., 35 percent for France, and 101% for Germany.
Read more at CNBC
Florida Space Coast Tops 100 Launches As Space Force Pushes For Range Upgrades
SpaceX launched a Falcon 9 rocket into the sky off Cape Canaveral Space Force Station, carrying 29 Starlink internet satellites bound to go into low Earth orbit. The importance of this launch was that it was the 100th launch of the year in Florida in the Space Coast, thus showing the level of activity that has been taking place in the world of space launches. Achieving such a launch tempo matters for both commercial and scientific space endeavours. The high frequency of launches lowers the cost per flight and creates more opportunities for research, defence, and exploration missions.
According to reports, this launch was a big local one, but it is a component of a larger wave of action in space. The state of Florida experienced 100 launches within a year, which was a record in the region. This year, Falcon 9 has undertaken 149 flights, and over 90 flights have been in Florida itself. This is an improvement over the past records, which have demonstrated that the re-use of rockets and the use of satellite constellations have indeed increased the number of launches. This pace has been critical in maintaining this rate through the constant booster landings and the rapid turnarounds.
Read more at Gadgets 360
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