The Journal Gazette
 
 
Wednesday, November 24, 2021 1:00 am

Briefs

Samsung eyes Texas to build chip factory

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Samsung is planning to build a $17 billion semiconductor factory outside of Austin, Texas, amid a global shortage of chips used in phones, cars and other electronic devices.

Texas Gov. Greg Abbott has scheduled a news conference to make an economic announcement. News of the Samsung announcement was reported earlier by the South Korean news agency Yonhap.

Neither Samsung nor Abbott's office returned requests for comment about the project this week.

GM partnering with EV watercraft firm

General Motors said it has acquired a 25% ownership stake by investing $150 million into Pure Watercraft, GM spokesman Mark Lubin said. 

GM and Pure Watercraft, a startup based in Seattle that makes all-electric motors for boats of all different kinds, share a stated goal to expand zero-emissions mobility and promote EV adoption beyond cars. The two companies will develop and commercialize battery-electric watercraft, using GM's technology in a variety of boating uses to accelerate the industry's transition to all-electric.

J&J settlement talks over powder delayed

Johnson & Johnson will likely have to wait until next year before it can restart negotiations to resolve 38,000 lawsuits filed by people who claim one of its oldest products, baby powder, causes cancer and other diseases.

A federal judge questioned whether spending money on formal settlement talks makes sense while victim advocates oppose mediation. He put the lawsuits against J&J, baby powder retailers and insurance companies on hold until a Jan. 14 hearing. 

Last month, J&J created a unit to hold its talc liabilities and then put that company, which has no operations, into bankruptcy. The goal is to negotiate with victims to create a trust with at least $2 billion. 


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