Business

July 10 (UPI) — South Korea’s HD Hyundai Marine Solution said Friday that the company has teamed up with Japan’s Weathernews to commercialize an AI-powered shipping route optimization solution.

The former is the marine after-sales and digital solutions unit of shipbuilding giant HD Hyundai Group, while the latter is a leading provider of specialized weather intelligence to businesses and other consumers.

Recent pilot projects in South Korea showed that the integrated AI solution incorporating Weathernews’ meteorological data can reduce fuel consumption by at least 3%, according to HD Hyundai Marine.

The corporation noted that the new solution can be immediately deployed on vessels already using either company’s existing services without requiring additional hardware or software.

The two partners plan to gradually roll out the AI-based solution to about 8,000 vessels currently using their services. In addition, they agreed to pursue a range of collaborative initiatives, including jointly marketing the solution to global clients.

“This agreement is significant because it transforms our collaboration into a viable commercial business model,” HD Hyundai Marine CEO Kim Sung-joon said in a statement.

“We will deliver the best solution available to help shipowners achieve two key objectives of reducing fuel costs and complying with increasingly stringent environmental regulations,” he added.

The share price of HD Hyundai Marine jumped 4.17% on the Seoul bourse on Friday while the benchmark KOSPI rose 2.52%. That of Weathernews fell 4.26% on the Japanese stock market.

July 10 (UPI) — Canada and the state of Michigan on Friday announced that a long-planned new bridge linking Ontario and Detroit will open at the end of July, 14 years after construction started.

The $4.4 billion Gordie Howe International Bridge between the two cities is set to open on July 27 and is set to offer improved transit on what leaders from Canada and Michigan called one of the busiest transportation corridors in North America.

The mile-and-a-half-long bridge includes new ports of entry on either side, with Canada and the United States establishing a 15-year economic development fund that has been tied to profits from crossing tolls.

President Donald Trump earlier this year threatened to prevent the bridge from opening over disagreements with previously existing trade agreements, his administration’s tariff regime and objections to Canada making trade deals with China.

“The Gordie Howe International Bridge has always been a great deal for our state,” Michigan Gov. Gretchen Whitmer said in a statement.

“Thousands of Michigan workers built this critical bridge, which will speed up auto production, lower costs, ease traffic, strengthen agriculture and give people on both sides of the border better-paying jobs and brighter futures,” she said. “This bridge is a testament to the enduring partnership between Michigan and Canada.”

The bridge project originated with the state’s then-Republican Gov. Rick Snyder agreeing to the six-line bridge because it would alleviate congestion accommodate future travel and create new transportation capabilities between U.S. and Canadian manufacturing regions.

Canada’s minister for housing and infrastructure, Gregor Robinson, hailed the completion and impending opening of the bridge as “strengthening one of the world’s most important trade corridors.”

“This nation-building project is a testament to what Canada can accomplish when we come together with a shared vision,” Robinson said in a statement.

“The Gordie Howe International Bridge will create new opportunities, strengthen our economy and bring economic benefits on both sides of the boarder for generations,” he said.

July 10 (UPI) — Apple on Friday filed a lawsuit against OpenAI and former Apple employees that work their for stealing confidential product information for the artificial intelligence company’s use.

The lawsuit specifically names two former Apple employees who allegedly handed over information to OpenAI when they joined the company that related to products they worked on at their former employer, The Hill reported.

In its filing, Apple said that OpenAI has been telling employees it hires away from the company to bring design information, prototypes and other information on how it makes its products.

There are, reportedly, more than 400 former Apple employees working for OpenAI, in addition to the company’s partnership with former Apple design chief Jony Ive’s io and his effort to lead the AI company’s hardware development.

“At Apple, our teams are constantly developing breakthrough technologies to create the best products and services in the world, and protecting their work and intellectual property is something we take very seriously,” an Apple spokesperson told 9to5Mac.

“Recently, significant evidence has emerged suggesting individuals employed by OpenAI wrongfully took Apple’s secret and confidential information regarding our unreleased technologies, process and products,” the spokesperson said.

Apple alleged its former vice president of product design, Tang Tan, has told Apple employees that he is interviewing for roles at OpenAI that they should bring things from Apple headquarters for “show and tell” sessions.

OpenAI denied the allegations in a statement, saying that the company remains “focused on building innovative technology that empowers people” and has “no interest in other companies’ trade secrets.”

South Korean stocks closed higher Friday, extending their winning streak to a second consecutive session, as semiconductor shares rallied following overnight gains on Wall Street. The local currency gained ground against the U.S. dollar.

After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) added 184.03 points, or 2.52 percent, to close at 7,475.94.

Trade volume was moderate at 449.53 million shares worth 31.16 trillion won (US$20.73 billion), with gainers far outnumbering losers 799 to 92.

Institutions purchased a net 1.13 trillion won worth of shares, while individuals and foreigners sold a net 772.82 billion won and 322.56 billion won, respectively. Foreign investors turned net sellers after two consecutive sessions of net buying.

After opening more than 3 percent higher, the KOSPI climbed as much as 5.7 percent during the session, triggering a buy-side sidecar that temporarily halted program trading in KOSPI-listed shares for five minutes. It marked the third activation of the trading curb this week.

The KOSPI gave up some of its earlier gains in afternoon trading as investors locked in profits.

Investor sentiment improved after U.S. stocks closed higher overnight, supported by a strong rebound in semiconductor shares and easing oil prices.

The Dow Jones Industrial Average gained 0.27 percent, while the S&P 500 rose 0.81 percent. The tech-heavy Nasdaq Composite climbed 1.3 percent.

In Seoul, large-cap stocks finished broadly higher.

Semiconductor heavyweight Samsung Electronics went up 2.52 percent to 285,000 won.

In contrast, SK hynix edged down 0.27 percent to 2.18 million won after opening higher. The company is set to make its debut on the tech-heavy Nasdaq through the listing of its American depositary receipts (ADRs).

“Investor sentiment toward the semiconductor sector improved as Meta’s capital spending plans and Micron’s investment outlook helped ease concerns about the industry’s prospects,” said Lee Kyung-min, an analyst at Daeshin Securities. “Strong investor demand for SK hynix’s ADR offering also supported sentiment toward semiconductor stocks, adding upward momentum to the broader market.”

Artificial intelligence investment firm SK Square advanced 6.18 percent to 1.41 million won, while chip components maker Samsung Electro-Mechanics gained 6.1 percent to 1.58 million won.

The Korean won was quoted at 1,501.4 won against the U.S. dollar at 3:30 p.m., up 4.7 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys went down 1 basis point to 3.768 percent, and the return on the benchmark five-year government bonds lost 0.8 basis point at 4.008 percent.

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July 9 (UPI) — The Trump administration on Thursday proposed to roll back a Biden-era rule on emissions from heavy duty diesel trucks because it is “unworkable.”

The Environmental Protection Agency proposed lowering requirements for heavy truck emissions systems because of issues with the technology for new trucks and penalties for older vehicles that do not measure up, the agency said in a press release.

The change is expected by the administration to save up to $6,000 per new truck and could help save truckers roughly $12 billion, Fox News and The Hill reported.

The change will shorten government requirements for engine warranties to 100,000 miles, from 450,000 miles, and will delay a requirement that trucks meet emissions standards for their first 650,000 miles — an increase from the first 435,000 miles — for three years.

“This proposal to eliminate engine deratements and reform the Biden-era … requirements will lower costs, increase safety and keep our nation’s food supply moving,” Secretary of Agriculture Brooke Rollins said in the release.

The Biden administration rule was aimed at strengthening rules about nitrogen oxide emissions by improving maintenance and repair requirements over a longer period of time.

Critics have said that the new rule will weaken clean air protections and potentially affect Americans’ health, but the administration has countered that lowering business and consumer costs are an essential focus and that environmental concerns are overblown.

July 9 (UPI) — Venezuelan interim President Delcy Rodríguez said she will send a formal letter to King Charles III, seeking release of the country’s gold reserves at the Bank of England, asserting the assets are needed to finance recovery efforts after the deadly June 24 earthquakes.

During a videoconference Wednesday with officials overseeing 87 temporary camps established for earthquake survivors, Rodríguez said she had begun direct international efforts to recover frozen Venezuelan assets and use them to respond to the disaster.

“That gold belongs to our people and should be used to address the terrible, tragic consequences of these twin earthquakes,” Rodríguez said, according to TeleSur.

She also renewed calls for an end to sanctions against Venezuela, arguing the country has financial resources frozen abroad that could be used to fund reconstruction after the disaster, which has killed 3,800 people.

In addition to appealing directly to the British monarch, Rodríguez said she is also in talks with International Monetary Fund Managing Director Kristalina Georgieva.

She said the goal is to unlock about $3.568 billion in Special Drawing Rights held by Venezuela at the IMF.

Venezuela’s gold reserves remain in custody at the Bank of England. According to Deutsche Welle, U.K. courts previously rejected transferring control of the assets to Nicolás Maduro’s administration after determining it was not the country’s legitimate government.

Rodríguez became interim president in January after Maduro was captured by U.S. military forces.

Separately, Venezuelan Foreign Minister Iván Gil called Wednesday for the release of Venezuelan state assets frozen abroad during a virtual meeting with the United Nations Office for the Coordination of Humanitarian Affairs.

“We have accounts belonging to the Venezuelan state in different parts of the world that have been frozen as a result of illegal sanctions,” Gil said, according to NTV24.

U.N. Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator Tom Fletcher, who is in Venezuela, said the scale of the disaster prompted the United Nations to launch an urgent appeal for $296 million to support relief operations after the earthquakes.

According to multiple media reports, tracked international financial assistance pledged or delivered to Venezuela has exceeded $600 million through multiple donors and aid channels.

The U.S. State Department said it has committed more than $386 million in direct humanitarian assistance. The aid includes more than 400 metric tons of supplies, including hygiene kits, emergency shelter materials and food.

The assistance is being distributed through the Red Cross, UNICEF and the U.N. World Food Program rather than through Venezuela’s central government.

Despite those contributions, the financial challenge remains immense. U.N. estimates place total physical damage to homes, schools, hospitals and other infrastructure at about $37 billion, meaning the international aid received so far covers only the initial emergency response, including medical care and temporary shelter for displaced residents.

On my way through Skid Row to meet up with Estela Lopez, things looked pretty much as they did when I spent time there more than 20 years ago and first heard the promises that things would be better soon.

Tents lined some of the sidewalks, making them unpassable. Some people wore the damage of physical or mental disease, addiction, poverty, or all of the above. Outreach workers with ID lanyards strode through the trash-strewn landscape like lifeguards working against endless tides of fresh emergencies.

When I arrived at Lopez’s office in the 700 block of Crocker Street, where she runs a business improvement district on behalf of 600 or so beleaguered merchants, she had just completed a tour of the neighborhood with John McKinney, a candidate for city attorney.

She held a note card in her hand and shared some numbers, telling McKinney that by her latest count, 131 of the 702 streetlights in the district were out, 27 children were living on Skid Row, and 72 RVs were parked in the area.

“I came out here because I think this symbolizes the greatest failure in government,” McKinney said. “I think it’s the result of bad law and bad policy. I think it’s the result of a lack of leadership and indifference to the way people are living out here. To me, it’s completely untenable.”

But will anything ever change?

It’s a question two people in particular need to address, and I’ll get to that in a minute.

A lot of people I trust and admire work tirelessly to make a difference on Skid Row, and they’re always eager to share the success stories of those who move through and move on. (I’ve got a column on that coming up soon.)

The long-standing problem is that Skid Row is both a social service center and a mecca of drugs and other vices, with traps on every block. And so it’s a neighborhood at war with itself, with some viewing Skid Row as one of the largest recovery centers in the country while others see a snapshot of social collapse.

Estela Lopez has reached out to me several times over the years. About illegal dumping. Typhus. Calls to City Hall that don’t get answered. About the relentless plague of fires, overdoses and assaults.

“Can you imagine, in 24 years, how many people I’ve seen dead on these streets?” Lopez asked me near her office last week.

When the local post office closed recently in part because of security issues, Lopez told The Times’ Melissa Gomez that “we have reached a point in this city where we are unable to address criminal activity. … It’s surrender.”

We walked to the corner of 8th Street, where paramedics had just pulled away from a medical emergency. Cars and pedestrians stopped at tents for brief transactions, leaving little doubt as to the nature of the business being conducted.

We passed a caged dog and saw a puppy on a short leash being loaded into a vehicle. There’s a lot of talk about dogs being bred and sold, and Lopez said she’s seen evidence of animals being mistreated.

On 7th Street we passed the charred residue of a recent fire. A half block east, four men were slumped on the sidewalk, hitting pipes. Lopez gets calls from exasperated merchants dealing with vandalism and with people blocking their storefronts.

“I’ve never seen so many people overdose right here,” said Sergio Moreno, who runs a check-cashing business and said his family has been in business going back to the ‘70s. He said he’s seen paramedics use naloxone to revive opioid users, only to see the same people go down again just days later.

“How can you run a business?” asked Moreno, who chairs the board of the business improvement district Lopez runs. “This business is our life. This is how we got through school, this is how we put our kids through school.”

And yet despite paying city taxes and BID fees, Moreno said, problems persist and his customers fear for their safety.

Dr. Susan Partovi, a street medic for 22 years, has been advocating for more proactive intervention for those in obvious distress. Partovi told me she recently saw a man rise from a gutter, pull down his pants and defecate in front of her. She called to get help for him but said neither paramedics nor police determined him to be gravely disabled.

“We have become complacent with having people lying in the gutter, having diarrhea, speaking nonsensically and putting their lives at risk,” said Partovi, whom I once accompanied as she administered long-acting anti-psychotic injections, arguing that people need clear heads to make better choices.

One sore point for Lopez is the Skid Row Care Campus in the 400 block of Crocker Street, which opened a little more than a year ago and offers all sorts of social services, meds that reduce drug cravings, and supplies that allow for safe use of drugs.

Lopez said she understands the theory of harm reduction: Engage people with a goal of getting them into treatment and back on track. But she wonders how successful such programs are, and argues that they become magnets for lawlessness.

As we talked, a young man approached and told Lopez he’d seen her airing her grievances on TV news.

“I’m wondering, what would be your solution?” he asked.

“I would hope that people could return to life in sobriety,” Lopez responded.

The man said he is “trying to elevate” himself, but that he’d been on a waiting list for housing for six months.

Lopez is tired of being on a waiting list, too.

“If something is working down here,” she told me, “you can’t prove it by me.”

Progress is undeniable, said Sieglinde von Deffner, a social worker and Skid Row coordinator for the Los Angeles County Department of Homeless Services and Housing. But given the “highly vulnerable” nature of the population, “the need is colossal,” she said.

“I have not yet met someone here who doesn’t want housing of some kind. We just don’t have enough affordable housing for everyone,” Von Deffner said, and long-term homelessness makes people harder to reach. “Now, if we could just stop the inflow.”

Dennis Culhane, a University of Pennsylvania professor who researches homelessness and served as an L.A. County consultant, said there are other ways to get people indoors than investing billions of dollars in new housing that takes years to build. Culhane said single adults who are not veterans, including the elderly and disabled, constitute a majority of the homeless population. But assistance is scarce.

“It’s like you have a famine, and you’ve only got food for 15% of the people,” Culhane said.

Rapid rehousing is critical for the newly homeless, he said. But it can take two years for them to qualify for Social Security disability, and once they do, the $1,000 a month “is completely deficient in the face of rising rents.”

Culhane recommends faster approval of SSI benefits and supplementing that income with additional sources of rental assistance. He believes there are enough vacancies at the low end of the housing market to make a sizable dent in homelessness without new construction.

As campaign season warms up, I’d like to know if Mayor Karen Bass and her challenger, Councilmember Nithya Raman, agree.

The mayor of L.A. is limited by a power split with the City Council, and the county oversees most addiction and mental health services. But Skid Row sits just a few blocks from the seat of city authority, and nobody has more power or responsibility to address the decades-long human catastrophe on Skid Row than the mayor.

Estela Lopez and the merchants deserve better. The people on the street deserve better. Thousands of housed residents deserve better.

Does Bass have a plan other than what’s currently in place? Does Raman have a better one?

If so, I’d like to hear the details, and I’m available.

steve.lopez@latimes.com

Seoul shares plummeted nearly 5 percent Tuesday as technology stocks extended losses after Samsung Electronics Co. released its preliminary second-quarter earnings estimate. The Korean won fell against the U.S. dollar.

After opening 1.6 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended losses, falling 395.02 points, or 4.91 percent, to close at 7,656.31.

Trade volume was heavy at 512.29 million shares worth 39.66 trillion won (US$25.9 billion), with decliners outnumbering gainers 509 to 358.

Institutions and foreigners sold a net 309.1 billion won and 2.92 trillion won worth of stocks, respectively, while individuals purchased a net 3.13 trillion won.

Technology stocks plunged on profit-taking after Samsung Electronics estimated its operating profit for the April-June period at 89.4 trillion won, beating market forecasts.

Investors are now focusing on whether rising capital spending, intensifying competition and expanding production capacity will generate the earnings growth needed to justify elevated valuations of technology companies, analysts said.

In Seoul, technology shares led the decline.

Market bellwether Samsung Electronics plunged 6.92 percent to 296,000 won, while chip giant SK hynix declined 6.06 percent to 2,201,000 won ahead of its planned US$29 billion U.S. listing later this week.

Top carmaker Hyundai Motor dropped 4.48 percent to 479,000 won, and defense company Hanwha Aerospace shed 3.19 percent to 1,122,000 won.

Hanwha Ocean plunged 22.65 percent to 89,800 won after a South Korean consortium that includes the shipbuilder failed to win Canada’s multibillion-dollar submarine procurement project.

Among gainers, cosmetics maker Amorepacific rose 4.2 percent to 126,500 won, and leading refiner SK Innovation climbed 7.56 percent to 103,800 won.

The Korean won was trading at 1,528.20 won per U.S. dollar as of 3:30 p.m., down 2.1 won from the previous session.

The Korea Exchange (KRX), the country’s bourse operator, meanwhile, activated a circuit breaker for the benchmark index, suspending trading of KOSPI-listed shares for 20 minutes after the index plunged more than 8 percent during the session.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 0.4 basis point to 3.780 percent, and the return on the benchmark five-year government bonds climbed 0.8 basis point to 3.999 percent.

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1 of 6 | President Donald Trump rings the opening bell of the Nasdaq and the New York Stock Exchange to celebrate the first day of trading for Trump Accounts in the Oval Office of the White House in Washington, D.C., on Monday. Photo by Shawn Thew/UPI | License Photo

July 6 (UPI) — Stock in Dell Technologies jumped Monday morning after President Donald Trump promoted the company while opening the stock exchange from the Oval Office.

Dell CEO Michael Dell and Susan Dell were in the Oval Office along with investor Brad Gerstner, Treasury Secretary Scott Bessent and Sen. Ted Cruz, R-Texas, as Trump rang the opening bell. The president used the moment to encourage the purchase of Dell computers, preceding a 7% increase in Dell stock.

“Go out and buy a Dell computer,” Trump said. “Michael and Susan Dell, they are truly incredible.

The Dells donated $6 billion to the Trump Accounts program for children. Public financial disclosures show that Trump actively traded Dell stock in 2025, making 24 trades and purchasing stock 16 times.

We’re going to get him that money back one way or the other,” Trump said. “Then I’ll ask for another $6 billion. We’ll start the whole process all over again.”

Monday’s Oval Office event recognized the opening of the Trump Accounts on Saturday. The accounts are available to children 18 or younger and include a $1,000 contribution from the U.S. Treasury Department for babies born from 2025 through 2028.

“The American dream belongs to every child, and today we are equipping the next generation with the right to claim their rightful share of it,” Bessent said.

New York Stock Exchange president Lynn Martin was also in attendance in the Oval Office.

A military airport in the southwestern city of Gwangju was selected Monday as the site for a government-led project to create a semiconductor production cluster, a presidential official said.

The selection was made in a meeting earlier in the day between government officials and top executives of leading chipmakers — Samsung Electronics Co. and SK hynix Inc. — to discuss follow-up measures for the investment project, presidential chief of staff Kang Hoon-sik said at a press briefing.

The president will hold monthly meetings to personally check the progress in the massive investment project, he added.

The envisioned chip production cluster is part of the government’s “three megaprojects” initiative, centered on large-scale investments in semiconductors, physical artificial intelligence (AI) and AI data centers in regional areas.

Under the chip cluster project, the two leading chipmakers have pledged to invest a combined 800 trillion won (US$522 billion), marking the single-largest investment plan to date in the southwestern Gwangju and Honam area.

“Through consultations with related ministries, the government will promptly finalize the (administrative) process of designating the candidate site,” Kang said.

The presidential official noted that companies proposed the military site for the production complex, describing it as an 8.3 million-square-meter track of already leveled land that would save time for preparation.

Its proximity to the city’s downtown and railway station would also facilitate easy access for workers and the transportation of goods, the official said.

Kang noted that the president has decided to hold monthly meetings to review the progress of the projects and establish a dedicated body within Cheong Wa Dae to oversee them.

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July 3 (UPI) — South Korea’s biopharmaceutical company Celltrion said Friday that its sales amounted to $840 million in the second quarter of this year, up 35.2% from a year earlier.

The firm noted that its operating income for the April-June period jumped 77.3% year-on-year to reach $280 million, lifting its operating profit margin to 33% from 25% a year ago.

Celltrion attributed the solid performance to an improved product mix and lower manufacturing costs. In particular, its newly launched products accounted for more than 60% of total revenue during the latest three months.

On the cost side, Celltrion said that profitability has gotbetter following the completion of post-merger integration. In late 2023, the Incheon-based company, located west of Seoul, merged with its sales affiliate, Celltrion Healthcare.

Celltrion expects growth momentum to strengthen in the second half, when the biosimilar industry typically benefits from increased government procurement deliveries and year-end inventory replenishment.

The company also plans to further broaden its pipeline of biosimilars and novel drugs beyond its current portfolio.

“This performance shows that our efforts to expand new products and improve profitability are beginning to deliver meaningful results, “Celltrion said in a statement.

“We expect stronger participation in major national tenders and continued growth from new products, which will be reflected more fully in the second half,” it added.

The share price of Celltrion rose 3.96% on the Seoul bourse on Friday, while the benchmark KOSPI gained 5.76%.

July 3 (Asia Today) — Anthropic, the developer of the Claude artificial intelligence model, is in early discussions with Samsung Electronics about manufacturing a custom AI chip, according to a U.S. technology news report.

The Information reported Thursday, citing multiple people familiar with the discussions, that Anthropic is considering using Samsung’s 2-nanometer manufacturing process and advanced chip-packaging facilities.

The project remains at an early stage. Anthropic has not begun detailed chip design, testing or manufacturing, the report said.

Samsung’s 2-nanometer process is among the most advanced semiconductor manufacturing technologies available. Smaller manufacturing nodes can allow more transistors to be placed on a chip, potentially improving computing performance and energy efficiency.

Advanced packaging places processors, high-bandwidth memory and other chip components closer together. The shorter distance can increase data-transfer speeds and reduce bottlenecks when running large AI models.

Anthropic is studying the functions and performance required for the chip as well as how it could be integrated into servers, people familiar with the matter said. The company is also reportedly holding discussions with several chip-design companies.

Anthropic is considering using processors developed by Microsoft and British chip startup Fractile as it evaluates different approaches to expanding its computing infrastructure.

The company hired Clive Chan in June. Chan was the second hardware engineer to join OpenAI’s custom-chip program and worked on the project from its early stages.

Chan announced his departure from OpenAI and move to Anthropic in a June 7 post on the social media platform X. He said he was drawn by the opportunity to begin climbing a new technological mountain from the bottom.

The recruitment suggests Anthropic is building an internal team capable of designing specialized processors as competition with OpenAI expands from AI models into hardware and data-center infrastructure.

Anthropic raised $65 billion in a Series H investment round completed May 28, giving the company a post-investment valuation of $965 billion.

The funding was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital. Samsung Electronics, SK hynix and Micron participated as strategic infrastructure partners.

Anthropic said the three semiconductor companies provide technologies that play important roles in supplying memory, storage and logic chips.

Samsung is the only one of the three companies that also operates a large contract chip-manufacturing business, raising expectations that its relationship with Anthropic could expand beyond memory supplies.

A manufacturing agreement with Anthropic would give Samsung another major AI customer as the South Korean chipmaker seeks to challenge Taiwan Semiconductor Manufacturing Co. in the market for advanced processors.

Samsung previously signed a $16.5 billion agreement to manufacture next-generation AI chips for Tesla. Google is also reportedly considering using Samsung to manufacture part of a future tensor processing unit.

The potential Anthropic contract could strengthen Samsung’s position as demand for alternatives to Taiwan Semiconductor’s manufacturing capacity increases.

Major technology companies are developing specialized processors to reduce computing costs, improve energy efficiency and gain greater control over their AI infrastructure.

Google has developed several generations of its tensor processing units, while Amazon Web Services operates its Trainium processors for AI training.

OpenAI and Broadcom unveiled Jalapeño, OpenAI’s first custom inference processor, on June 24. Inference refers to the process through which a trained AI model generates responses to user requests.

OpenAI said the processor was developed from initial design to production in nine months. Early deployment is expected by the end of the year.

Broadcom Chief Executive Officer Hock Tan described Jalapeño as the beginning of a multigeneration processor roadmap. The companies plan to install the chips in large-scale data centers operated with partners including Microsoft.

Anthropic said its custom-chip work would not replace its existing relationships with hardware suppliers.

“Nvidia GPUs, Google TPUs and AWS Trainium chips will continue to play a central role in our computing resources,” the company said in response to a request for comment from The Information.

South Korea on Monday unveiled a wider semiconductor investment plan under which Samsung and SK hynix are expected to invest about 800 trillion won ($523 billion) over the next decade.

The plan includes four new semiconductor fabrication plants and expanded production of high-bandwidth memory and advanced packaging technologies used in AI systems.

Samsung has faced yield problems in some previous advanced manufacturing processes. Yield refers to the percentage of usable chips produced from each semiconductor wafer.

The performance and production stability of Samsung’s 2-nanometer process are therefore expected to be critical to its ability to compete with Taiwan Semiconductor for major AI-chip orders.

An industry official said Samsung has become more selective about accepting manufacturing orders, focusing resources on projects considered commercially and technologically viable.

Anthropic is entering the custom-chip competition later than several major AI and cloud-computing companies. However, rapidly rising demand for AI infrastructure is creating opportunities for specialized processors.

TrendForce projects that shipments of servers using cloud companies’ custom application-specific integrated circuits will grow 44.6% in 2026. Shipments of servers using general-purpose graphics processors are expected to grow 16.1%.

Nvidia remains the dominant supplier of AI processors, but the development of chips by OpenAI, Google, Amazon and other technology companies could gradually reduce their reliance on its hardware.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260703010001110

PRINCESS Andre has shared a brand new sneak peek of her highly anticipated makeup business ahead of its official launch.

The 18-year-old daughter of Katie Price and Peter Andre has even revealed the brand’s name to fans.

Princess is nearing her takeover of the beauty market and has now teased her launch for her very own brand, after landing huge beauty deals in the past. 

Taking to her Instagram, Princess can be seen at her preview launch with images of her and pink balloons in the background. 

The newfound beauty owner can be seen in white corset top, mouthing the words: “omg those makeup products you used are SO good.”

Following the popular online trend, makeup mogul Mitchell Halliday  replies: “They’re your products.”

Princess then adds an “oh yeah” before spinning around and blowing a kiss.

The pair were both shown holding makeup products presumably from Princess’ new line. 

The beauty guru added the caption: “Preview Launch, so excited to share with you all what I’ve been working on for so long (heart emoji).”

Alongside, she added the handle to her new brand’s beauty page that has already racked up thousands of followers. 

It’s revealed that the name of her business is set to be By Princess. 

Fans and celebrities alike flooded the stars comment section, GK Barry penned: “Congrats Queen (heart emoji)”

“Love you sweetie (heart emoji)” wrote proud dad Peter. 

Former Towie star Bobby Norris chimed: “Congrats darling!! Xx” which was echoed by Princess’ allegiance of fans.

News broke of Princess’ business venture last year following her second deal with high street giant Superdrug, as the face of their affordable cosmetics line, Studio London.

But now the star is ready to step out on her own and launch her own makeup line.

An insider at the time said: “Princess loves everything to do with make-up and people love her ‘get ready with me’ videos. 

“It’s very savvy of the teen to launch her own line, she knows everyone always wants to know what she’s using, so why not make her own?”

Princess has had a very successful few years, which has included landing her own reality show and passing her driving test, before splashing out on a brand new Audi A1. 

She has vowed to be a millionaire before she turns 20 and she’s well on her way. 

As well as working with Superdrug, she was also an ambassador for online retailer PrettyLittleThing, and launched her own jewellery range.

July 3 (Asia Today) — A U.S. battery joint venture between South Korea’s LG Energy Solution and Honda has begun mass-producing lithium-ion cells for energy storage systems at its Ohio plant, the company said.

L-H Battery Company began production Thursday at its factory in Jeffersonville, Fayette County.

The cells will be supplied through LG Energy Solution Vertech, the South Korean company’s North American energy-storage system integration subsidiary.

They are expected to be used in utility power grids as well as commercial, industrial and residential energy-storage systems across the United States.

The Ohio plant was originally built primarily to manufacture batteries for Honda electric vehicles.

The partners adjusted the factory’s production strategy as growth in the electric-vehicle market slowed and changes in the U.S. regulatory and policy environment increased uncertainty for automakers and battery manufacturers.

The joint venture decided to prioritize the faster-growing energy-storage market while maintaining the flexibility to produce cells for other applications.

It plans to consider manufacturing batteries for hybrid-electric vehicles at the plant as market conditions evolve.

Honda said in May that it would convert part of the joint venture’s electric-vehicle battery production lines to make batteries for hybrid vehicles.

The company also said it would use the Ohio battery facilities for other applications as it restructures its North American vehicle and battery production network.

Honda canceled plans in March to develop and launch three electric-vehicle models that had been scheduled for production in North America, citing changes in the business environment.

The start of storage-battery production marks a significant step in LG Energy Solution’s strategy to manufacture more energy-storage products within North America.

Demand is rising as utilities add renewable-energy capacity and seek batteries that can store electricity when supply exceeds consumption.

Artificial intelligence data centers are also increasing electricity demand and creating a need for additional power-generation, transmission and storage infrastructure.

Energy-storage systems can help stabilize power grids by storing electricity during periods of low demand and releasing it when demand rises.

LG Energy Solution has been converting or adapting electric-vehicle battery facilities to produce storage batteries as manufacturers respond to slower electric-vehicle growth.

The company plans to operate five energy-storage battery manufacturing sites in North America.

The network includes plants in Holland and Lansing, Mich., the NextStar Energy facility in Windsor, Ontario, the Ultium Cells factory in Spring Hill, Tenn., and the L-H Battery Company plant in Ohio.

LG Energy Solution said it aims to secure more than 50 gigawatt-hours of annual energy-storage battery production capacity in North America by the end of 2026.

The company said batteries manufactured in Ohio will support projects serving power grids, businesses and homes.

BloombergNEF has projected that the U.S. energy-storage market could expand to 485 gigawatt-hours in 2030 and 976 gigawatt-hours in 2035.

“Energy storage systems are an important future business for L-H Battery Company and will become a core business pillar along with the production of battery cells for hybrid-electric vehicles,” L-H Battery Company Chief Executive Officer Koo Ja-hoon said.

Chief Operating Officer Rick Riggle said the company has hired employees and begun production since the joint venture was established in 2023.

“This start of mass production is significant because it goes beyond simply operating a plant and establishes a stable production base for our North American business,” Riggle said.

LG Energy Solution and Honda formally established L-H Battery Company in 2023 to manufacture lithium-ion batteries in Ohio.

The joint venture was initially designed to support Honda’s expanding electric-vehicle production in North America.

The revised production strategy allows the companies to use the plant for energy storage and hybrid vehicles while retaining the ability to respond if electric-vehicle demand recovers.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260703010001209

A hypnotizing deep dish of star wattage, family meltdowns, racial tensions and Texas-sized steaks served for breakfast, George Stevens’ 1956 drama was taken extremely seriously in its moment — 10 Oscar nominations seriously. The most notable of those were for Rock Hudson and, competing against him in lead actor, a posthumously honored James Dean. Taken together, the two represent a fascinating dichotomy that was happening in screen acting, a burrowing into psychology that was leaving other more traditional stars behind. (Elizabeth Taylor and Mercedes McCambridge make for another great pairing in the movie.) Roughly 25 years later, the film would inspire the TV series “Dallas,” even down to having a main character with the initials J.R. Go luxuriate in the original epic.

“Giant” is playing Sunday at the Academy Museum. Tickets here.

July 3 (UPI) — South Korea’s Home Plus faces the risk of liquidation as the court halted the rehabilitation proceedings for the country’s troubled discount chain after overseeing the case for 16 months.

The court said Friday that it reached the decision because the restructuring plan of Home Plus lacks feasibility as the company’s business continued to deteriorate while it failed to find a new owner.

“In this climate, Home Plus requires at least $130 million in working capital to sustain its business and implement the proposed rehabilitation plan. But the necessary funding has yet to be secured,” the court said in a statement.

MBK Partners, one of the largest private equity firms in Asia, acquired Home Plus in a multi-billion-dollar deal in 2015. After years of mounting losses, however, the retailer entered a court-led restructuring program in early 2025.

Giving up its rights to more than $1.5 billion in common equity of Home Plus, MBK spent more than a year searching for a buyer but failed to strike a deal.

Amid the prolonged financial strain, Home Plus has steadily downsized its sales network. It ran more than 140 hypermarkets nationwide in the mid-2010s but now has just 67 stores.

Home Plus can appeal the ruling within two weeks. To avoid the worst-case scenario, the company has asked its largest creditor, Meritz Financial Group, to offer the funding needed to pursue the appeal.

“The court said that if Home Plus secures $130 million in working capital within two weeks and files an immediate appeal, it would be possible to reconsider the case and resume the rehabilitation proceedings, “Home Plus said in a statement.

“We earnestly ask Meritz Financial Group to provide a $130 million loan,” it added.

Home Plus is not publicly listed.

July 3 (UPI) — The Justice Department on Friday called on states to investigate whether businesses and individuals are artificially inflating gas prices amid complaints from President Donald Trump that costs are too high.

Associate Attorney General Stanley Woodward Jr. along with Federal Trade Commission Chairman Andrew Ferguson sent a letter to state attorneys general asking them to join federal investigators in probing potentially illegal practices.

“Recent volatility in crude oil prices does not suspend either the antitrust laws or state consumer protection laws, and it does not authorize companies to manipulate retail prices or collude with their competitors,” the letter read.

“We also encourage State Attorneys General to use all tools available under your state laws to investigate and prosecute any misconduct causing unjustified prices increases — particularly conduct that violates state antitrust and consumer protection statutes.”

Gas prices have been on the rise since late February when the United States and Israel began attacks on Iran. Tehran, in return, largely shut down the Strait of Hormuz to traffic, crippling the the transport of oil through the waterway. About one-fifth of the world’s gas supplies pass through the strait.

An agreement between the United States and Iran reopened the strait, but Trump took to Truth Social on June 23 to complain that gas prices had not dropped fast enough.

“The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil,” he wrote. “Those prices are dropping like a rock! In other words, customers are being ‘gouged.’

“I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!”

AAA reported Friday that the current national average gas price was $3.82 per gallon for regular gasoline, down from $4.26 a month prior. One year ago, it was $3.16 per gallon.

July 1 (UPI) — Mexico will launch a national debate on artificial intelligence and social media after the 2026 FIFA World Cup concludes in a move aimed at laying the groundwork for future regulatory framework.

President Claudia Sheinbaum said the process will begin after July 19 and will bring together lawmakers, technology experts, academics, media representatives and parents to discuss the impact of digital platforms and artificial intelligence on different areas of society.

Sheinbaum emphasized that the process will be conducted under the government’s stated premise of not infringing on freedom of expression.

Among the issues to be discussed are mental health, protection of children and adolescents, concentration of power among major technology platforms, development of artificial intelligence and the possibility of establishing limits on cellphone use in schools.

“The discussion should be opened on the control of platforms: Who controls them? How many people own these platforms? How is that power concentrated?” the president said during her Tuesday morning news conference.

Sheinbaum also raised the need to examine who controls the development of artificial intelligence, what regulatory frameworks exist in other countries, what benefits they offer and what risks they pose for Mexico.

“It is very important for Mexico to enter this regulatory process without resorting to censorship,” she said.

The announcement prompted immediate reactions on social media, where experts, civil society organizations, academics and users began debating the scope of possible regulation.

While some argued that Mexico’s legal framework needs to be updated to address the challenges posed by digital platforms and artificial intelligence, others expressed concern that poorly drafted legislation could become a tool to limit criticism or restrict freedom of expression.

News outlet Sinaloa Hoy reported that the proposal comes at a time when social media has become the primary source of information and political criticism for young people.

According to opinion polls, including one conducted by consulting firm Enkoll, the president has a 44% disapproval rating among people ages 18 to 24.

Mexican political analyst Juan Ortiz wrote on X that regulation may be necessary, “but a poorly written rule could end up punishing political criticism under the pretext of protecting minors or combating disinformation.”

“In San Luis Potosí, its ‘regulation’ of AI ended with women journalists being detained,” he said.

Mexican attorney Gildo Garza also questioned the announcement, arguing that regulation could become a mechanism to control public discourse.

In a post on X, he warned that previous experiences in Venezuela and Nicaragua show how initial narratives about protection or regulation ultimately resulted in restrictive laws, judicial persecution and punishment of critical voices.

According to a report by the Anáhuac Universities Network, the path toward digital legislation in Mexico has been marked by intense activity in Congress. Since April 2023, lawmakers have introduced 85 legislative initiatives to create laws or amend existing ones to regulate artificial intelligence and the digital environment.

The vast majority of those proposals, 67, have remained stalled or are pending approval. That has been attributed to a lack of consensus, technical complexity and concerns among various sectors that such measures could affect freedom of expression.

There’s this idea in social media that you’re supposed to choose a lane. Either you grow “purely organic”, patiently waiting for the algorithm to reward you, or you automate everything and turn your account into some kind of growth machine that runs without you.

In reality, nobody who actually tries to grow an account long-term sticks to either extreme.

Pure organic growth is slow enough to make you question whether anything is happening at all. Pure automation without real content is just noise with extra steps.

Most accounts that survive past the first few months end up somewhere in between, even if nobody says it out loud.

Where automation actually fits in

When people hear “automation”, they still imagine spam bots or engagement farms from years ago. That’s not really what we’re talking about anymore.

Used properly, automation isn’t about replacing activity. It’s about smoothing out the worst part of it – posting something decent and watching it sit at zero for hours because the algorithm didn’t pick it up.

That initial silence is where a lot of good content dies. Not because it’s bad, but because nothing happens around it early enough.

Automation in this context is just early support. A bit of initial visibility, some signal that the post isn’t completely invisible, enough to get it into circulation instead of letting it sink immediately.

Why organic alone stops scaling

Organic-only accounts usually hit the same pattern. At the beginning, everything feels like progress. A few posts perform, you get your first audience, and there’s a sense that things are starting to move.

Then it slows down. Not dramatically, just quietly. You keep posting, improving, adjusting – but the results stay in the same range. It’s not that the content gets worse. It’s that platforms don’t scale reach in a predictable way.

That’s usually where frustration starts. Not failure, just repetition. You’re doing the same work, but the outcome doesn’t change much. And that’s a difficult place to stay in for long.

Why automation alone also fails

On the other side, accounts that rely only on automated promotion usually run into a different problem. They can create activity, they can push numbers, they can make a profile look alive. But without real content behind it, there’s nothing for people to actually connect to.

No point of view, consistency and reason to follow.

People notice that, even if they don’t consciously analyze it. An account can look active and still feel empty. Automation can amplify reach, but it can’t replace identity.

The middle layer: where growth actually happens

The more stable setups usually combine both sides. Organic content is responsible for the actual message – what the account stands for, what it’s trying to say, why it exists in the first place.

Automation supports distribution – making sure that message doesn’t get lost immediately after it’s published. They solve different problems:

• organic answers what is being communicated;
• automation answers whether anyone is actually seeing it.

Most accounts struggle because they only solve one of those properly.

The psychology of perceived activity

There’s also a simpler factor that often gets ignored: perception. People don’t evaluate accounts in isolation. They compare them instantly to everything else in their feed.

An account with visible engagement feels more established. Not because people sit and analyze metrics, but because inactivity is noticeable.

Good content with no traction creates hesitation. Not rejection – just a pause. And on social media, hesitation is usually enough for someone to move on.

Adding early visibility reduces that friction. It makes the account feel like it already exists in circulation, not like it’s still trying to get noticed.

How teams actually use this mix

In practice, most teams don’t frame this as theory. They just build a workflow.

Organic content is used for messaging, storytelling, positioning. That part doesn’t change.

Promotion, including automated support, is used when something deserves more reach than it would naturally get in the first hour or two.

Some posts are left alone, some are boosted, while others are tested and dropped. It’s less about forcing outcomes and more about not letting good content disappear by default.

Services like Top4SMM are often used in that layer – not as a replacement for marketing, but as a way to stabilize visibility when organic reach is unpredictable. If you want to compare options, you can see details.

Why consistency beats intensity

A common mistake is treating growth like a short-term push. People post more, experiment harder, try to “fix” the algorithm in a week or two – and then step back when nothing changes immediately.

What actually works is much less dramatic. Steady output. Steady distribution. No spikes needed.

When both sides are consistent, results start compounding. Slowly at first, then more noticeably over time.

Final thoughts

There isn’t really a pure way to grow on social media anymore. Organic alone struggles with reach. Automation alone struggles with meaning.

The accounts that keep growing are the ones that combine both – content that actually says something, and distribution that makes sure it doesn’t disappear on impact.

Everything else mostly comes down to hoping for timing to behave like a strategy.

June 30 (Asia Today) — South Korean battery materials producer EcoPro Group is expanding its investment in an Indonesian nickel smelter to more than double its access to the critical mineral used in electric vehicle batteries.

EcoPro and its subsidiary EcoPro BM plan to increase their combined stake in the Bahodopi Nickel Smelting Indonesia project to 39%, becoming major shareholders and taking a leading role in its development. The smelter is under construction at the International Green Industrial Park on the Indonesian island of Sulawesi.

The total investment is estimated at about 1.5 trillion won, or $967 million, based on an exchange rate of 1,550.77 won per dollar.

EcoPro completed the first phase of its Indonesian investment over the past four years, securing rights to about 29,000 metric tons of nickel. Once the second phase is completed, the group expects its total nickel supply rights to reach about 65,000 metric tons.

The group also plans to increase the BNSI smelter’s annual production capacity from the originally planned 66,000 metric tons to 90,000 metric tons. EcoPro said that would be enough nickel for batteries used in about 2 million electric vehicles.

The investment is part of EcoPro’s effort to secure raw materials directly and reduce the cost of nickel-rich cathode materials used in nickel-cobalt-manganese batteries.

EcoPro said it intends to establish an integrated supply chain covering nickel, precursors and cathode materials. The company said the structure is designed to meet U.S. requirements limiting reliance on prohibited foreign entities in clean-energy supply chains. U.S. tax rules restrict access to certain clean-energy credits when components or critical minerals receive material assistance from such entities.

EcoPro expects greater control over raw-material procurement to improve its cost competitiveness and strengthen its ability to win orders from global battery-cell manufacturers and automakers.

EcoPro BM will finance the investments through a 1.2 trillion won, or about $774 million, rights offering. Its board approved the issuance of 9,900,990 new common shares Tuesday.

Of the proceeds, 915 billion won, or about $590 million, will be used to acquire the BNSI stake and complete remaining investments in EcoPro BM’s Hungarian subsidiary.

An additional 135 billion won, or about $87 million, will be used as operating capital, including purchases of raw materials. The remaining 150 billion won, or about $97 million, will finance production facilities.

EcoPro, the group’s holding company, plans to subscribe for more than 120% of the shares allocated to it. The company said the decision demonstrated confidence in the Indonesian mineral business and a commitment to minimizing concerns about the dilution of shareholder value.

“This rights offering is a strategic decision to establish an early position in the global nickel market and improve our competitiveness in nickel-cobalt-manganese cathode materials,” EcoPro BM Chief Executive Officer Choi Moon-ho said.

“By combining EcoPro’s high-nickel technology with a decisive cost advantage, we will work to secure leadership in the global market for nickel-based batteries,” Choi said. EcoPro BM’s official English-language materials identify its chief executive as Choi Moon-ho.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260630010010768

Of all the calculated maneuvers by LeBron James during his eight years with the Lakers, he saved his smartest for last.

He left before the door could hit him in the butt.

He knew the Lakers didn’t want him back, so he skipped out before they had a chance to say goodbye.

He leaked the news alone, before the Lakers could publicly confirm, because he wanted to sell that this was his decision, when it absolutely was not.

This was not his idea. This was not his call. This was the Lakers saying, enough is enough. This was the Lakers saying, we want our team back.

This was arguably the greatest player in basketball getting the message and getting out before they threw him out.

Officially, on Tuesday, James informed the Lakers that he’s going to leave them as a free agent and finish his career elsewhere.

Unofficially, yay!

LeBron is gone, and he left without a fight, and the Lakers couldn’t be luckier.

LeBron is history, and it didn’t cost the Lakers a penny, and now they can breath again.

“LeBron James is one of the greatest athletes in history,” Lakers governor Jeanie Buss said on social media after the news dropped Tuesday morning. “We will always be thankful for his eight years with the Lakers — including the title he led us to in 2020 under the toughest imaginable circumstances and the countless records he broke in purple and gold. We wish him all the best in the future, both on the court and off. He will always be a cherished part of the Lakers family.”

Cherished, but gone, and thank goodness somebody over there had the conviction to let history walk.

Kudos to the new Lakers ownership for resisting every business impulse in their body to keep him while summoning the strength to stare down the most famous basketball player in the world and tell him to hit the road.

They could have been suckered into signing him just to throw him a grand farewell tour. They weren’t.

They could have been fooled by the 15-2 success he enjoyed when playing with Luka Doncic and Austin Reaves during that glorious month this spring. They weren’t.

They could have, as with past Laker regimes, simply been bullied by Rich Paul and his cronies. They weren’t.

They didn’t even make him an offer!

In losing LeBron, the Lakers reclaimed a bit of their soul. In letting LeBron leave, they sent a clear message to everyone who stayed.

This team belongs to Luka. This team belongs to the future. This team again belongs to the Lakers.

“Truly a honor to wear the (purple and gold),” James posted on social media. “Hope I made a few proud during my stint.”

He made many proud. He made the Lakers proud. He led them to their only championship in the last 16 years, he became the NBA’s all-time leading scorer, and, in his 23rd season, he set all sorts of records for longevity.

In his final glorious act this spring, at age 41, he dragged a shorthanded Lakers team into the second round of the playoffs. His widely acclaimed effort against the Houston Rockets proved he could still play. He was still among the top 20 players in the league.

But, goodness, he drove the Lakers crazy.

His eight-year tenure was filled with quiet demands for roster changes amid veiled threats to leave. The Lakers were so afraid of losing him or displeasing Paul and all of his other star clients that they constantly, sometimes embarrassingly, bowed to the King.

In doing everything from acquiring Russell Westbrook to drafting James’ son, Bronny, the Lakers contorted themselves to please their leader.

And for what? Outside of that bubble title in 2020, James never led the Lakers to much of anything. Despite setting some of his records in front of them, he never connected with Lakers fans, perhaps because of the continuous passive-aggressive mind games he played with management.

Here’s guessing he wanted to stay in Los Angeles, and would have eventually accepted a massive pay cut from last year’s $52.6 million. Here’s guessing he would have chosen to remain in the town that contains one of his family homes and many of his businesses for a chance to end his career in a Laker uniform with a farewell celebration that matched the royal ones given the likes of Kobe Bryant and Kareem Abdul-Jabbar.

But the Lakers never gave him that choice. As it turns out, even 43,440 points were not enough to endear him to an organization that still prefers to call itself the Lakers and not the LeBrons. While he seemed invincible, LeBron was not indisposable, and now he can take his act to Golden State or Cleveland or somewhere else willing to kiss the ring.

Give him credit, though, for pulling one last move.

LeBron leaked his announcement one day after son Bronny’s $2.3 million contract became fully guaranteed.

Of course he did.

June 30 (UPI) — The Department of Justice and 17 state attorneys general filed suit against five egg producers for alleged “unlawful coordinated manipulation of egg prices,” a press release said Tuesday.

The department’s Antitrust Division filed suit against Cal-Maine Foods, Hickman’s Egg Ranch, Centrum Valley Holdings, Versova Holdings and Versova Management Cooperative for unlawful coordinated manipulation of egg prices, the release said.

The department also “filed proposed settlements that will, if approved by the court, prevent these companies from engaging in such coordinated manipulation in the future.”

“No product more quintessentially represents affordability than the price Americans pay for eggs,” Associate Attorney General Stanley Woodward said in a statement. “These actions prove this department’s continued commitment to protecting competition and providing real relief for everyday Americans’ pocketbooks.”

Filed in the U.S. District Court for the Northern District of Iowa, the complaint alleges that Cal-Maine, Hickman’s and Versova coordinated to artificially inflate the daily quotations of Urner Barry Publications, a market reporting company whose publications affect prices that grocery stores, restaurants and others pay for eggs nationwide, the release said.

The complaint also alleges that egg price quotations dropped significantly from their peak after the companies learned of the department’s investigation and were told to save documents in March 2025, the release said.

The attorneys general of Arizona, California, Colorado, Connecticut, Florida, Hawaii, Iowa, Maryland, Minnesota, New York, North Carolina, Ohio, Pennsylvania, Texas, Utah, Vermont and Wisconsin joined the complaint and proposed settlements.