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Lego’s $1B plan to build new factory in U.S.

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Lego announces its billion dollar plan to build a second U.S. factory

Much loved toymaker, Lego have just announced they’ll be investing more than $1 billion into a new US factory.

The new facility will be built in Virginia, making it the second factory to open in the US.

The carbon-neutral facility will be powered by renewable energy from an onsite solar park.

By the end of the decade, Lego hopes to replace their current materials with sustainable ones.

Their plan is also to build more factories in key markets, with their latest factory under construction in Vietnam.

“Our factories are located close to our biggest markets which shortens the distance our products have to travel,” says Lego Group’s Chief Operations Officer, Carsten Rasmussen.

LEGO

Their current 6 factories make a whopping 100 billion bricks each year with a sales growth of 27% in the last year.

Katerina Kostakos contributed to this article.

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Apple on its own as U.S. stocks make comeback

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U.S. markets have rallied after a disappointing week for investors. But what is Apple doing?

The Dow Jones is up around 548 points, marking a big comeback from its recent 2022 lows.

Overall, it was a broad-based rally, with Apple as an outlier.

The tech giant’s stocks were down about 1.3 per cent after reports the company is ditching plans to increase new iPhone production, as demand falls short of expectations.

The broad-based rally follows the Bank of England announcing it would buy bonds, to stabilise financial markets, a huge reversal in policy implemented by most institutions this year to tackle soaring inflation.

The move caused the pound to become more stable, after it had tumbled to a record low against the U-S dollar earlier in the week.

U-S yields retreated from their highest level in more than a decade – easing concerns that rates were growing too quickly and could damage the economy.

But what does this all mean for the future? It’s hard to say, but this move by the Bank of England could signal a change in policy for central banks around the world.

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We know how the crypto market will recover, but when?

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$2.2 Trillion Institutional Crypto Price Prediction Reveals Bitcoin And Ethereum Could Be Poised For Recovery

The crypto market took a huge hit after the Federal Reserve’s announcement of quantitative easing, but one analyst is predicting that both bitcoin and ethereum could stage a recovery in the near future.

According to a report from investment firm JP Morgan, the two largest cryptocurrencies by market capitalization could see prices rise to $14,000 and $3,900 per coin, respectively.

This would represent a significant rebound from their current levels of around $10,000 and $200.

The report cites the recent influx of institutional investors into the crypto space as a key driver of this price growth.

With more and more big money players getting involved in crypto, JP Morgan predicts that the market could soon see a “new paradigm” of price discovery.

So far, crypto has been largely driven by retail investors, who are often more prone to emotional buying and selling.

With institutional investors coming in, there could be more stability in the market and less volatility.

JP Morgan’s report is just one of many bullish crypto predictions that have come out in recent months.

With more and more mainstream companies and financial institutions taking crypto seriously, it seems that the once-niche market is finally coming into the mainstream.

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Virgin Atlantic ditches gender uniforms

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Virgin is now the most inclusive airline in the skies, thanks to its new gender-neutral uniform policy.

Pilots, cabin crew and ground staff are now free to wear whatever they feel expresses their individuality, whether that be traditional men’s or women’s clothing, or something more unique.

Previously women had to wear a red uniform and men wore burgundy and the airlines says that the change makes it “the most inclusive airline in the skies”.

The move away from gendered uniforms has been applauded by staff, and sets Virgin Atlantic apart as an airline that is championing inclusivity.

Jaime Forsstroem, a member of Virgin cabin crew, said: “The updated gender identity policy is so important to me. As a non-binary person, it allows me to be myself at work and have the choice in what uniform I wear.”

The airline is amending its “trans inclusion policies” which include time off work for medical treatments related to gender transition,.

It is also introducing an option to include pronouns on workers’ name badges.

 

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