Science & Technology
Hyundai plans U.S. EV plant, in talks with Georgia
Hyundai Motor Co (005380.KS) plans to build a new electric-vehicle manufacturing plant in the United States and has held discussions with officials in Georgia, near existing plants for the Hyundai and Kia (000270.KS) brands, people with knowledge of its plans told Reuters.
Hyundai Motor confirmed an imminent plan for a new EV plant but declined to comment on any details, including site negotiations.
“We are excited to announce a new EV plant plan in the United States soon, but we do not have details to share at this stage,” Hyundai said in a statement to Reuters when asked about its investment plans.
Hyundai has been in advanced discussions with state officials to build a dedicated EV facility in Georgia, three people with direct knowledge of the talks told Reuters. Details of the investment, including its projected cost and the number of jobs it would be expected to create, were not immediately known.
The new Georgia EV facility, if it is finalized, would serve both Hyundai and Kia as the brands move to roll out a pair of fully electric SUVs – the Ioniq 7 and EV9 – aimed at the U.S. market, the three people with knowledge of the plans told Reuters.
Georgia’s Economic Department declined to comment. “We do not comment on speculation about economic development projects,” said a state economic development department spokesperson.
The announcement of an investment deal by Hyundai would come at a time when the administration of President Joe Biden has been pushing for more investment in EVs and related suppliers to create jobs and drive a clean-energy agenda. It would also mark a major economic development win for Georgia, which has pushed to establish itself as a regional hub for the emerging EV industry.
The announcement could come days before the May 24 Georgia primary election in which Republican Governor Brian Kemp is being challenged by former U.S. Senator David Perdue.
The Atlanta Journal-Constitution reported the company could hire 8,500 as part of its plans to build a new factory. The newspaper said the plant could be located on a more than 2,200-acre site that the state had previously proposed to Rivian, Volvo and Jaguar Land Rover.
Hyundai had been working to announce its U.S. investment in EV manufacturing sometime later this month to coincide with Biden’s planned visit to Seoul, another person with knowledge of the plans said.
Hyundai announced a $300-million investment last month to manufacture the all-electric Genesis GV 70 and a hybrid version of the Santa Fe at its Alabama plant. The Genesis model would be Hyundai’s first EV made in the United States.
Hyundai’s comment to Reuters was the company’s first confirmation that it was nearing an announcement on a site for a new EV plant.
Hyundai affiliate Kia also said last month that it was looking to shift production to the United States but was not considering a dedicated EV factory on its own.
Kia has said it will have 14 EVs by 2027. Hyundai has said it will roll out 17 by 2030, including six for its luxury Genesis brand.
Hyundai’s battery supplier, SK Innovation’s (096770.KS) battery unit SK On, has just built two adjacent plants in Georgia. The first, which mostly supplies Volkswagen AG (VOWG_p.DE), kicked off production in the first quarter. The second, which will supply batteries for Ford Motor Co (F.N), is set to begin production early next year.
SK On will supply the battery for the Ioniq 7, a person with knowledge of that contract told Reuters. SK On said it cannot comment on supply deals involving specific customers.
Biden is set to travel to South Korea on May 20 for meetings with South Korea’s incoming president Yoon Suk-yeol, an advocate of steps to shore-up South Korea’s ties with the United States.
The Biden administration has said it will allocate more than $3 billion in infrastructure funding to finance EV manufacturing. Biden wants half of vehicles sold in the United States to be electric by 2030.
Other Asian companies that have announced plans to build U.S. battery plants include Korea’s LG Energy Solution (373220.KS) and Samsung SDI (006400.KS).
Reuters reported earlier this month that CATL, the world’s largest battery maker, was in talks to open battery plants that would serve BMW AG (BMWG.DE) and Ford with potential sites in South Carolina and Kentucky.
A South Korea media report said Yoon, who takes office on Tuesday, was also planning a follow-up visit to Washington after Biden visits Seoul, where he would be accompanied by leaders of South Korea’s top conglomerates including Hyundai Motor and SK to discuss investment in the United States.
A spokeswoman for Yoon on Monday denied the plan as reported.
Science & Technology
UAE sets minimum social media age at 15, mandates age checks
The government said the measures were designed to address concerns over children’s exposure to inappropriate content, unsafe online interactions, excessive social media use and the collection of personal data.
The United Arab Emirates has set a minimum age of 15 for social media use, becoming the first Arab country to introduce such a restriction as governments worldwide seek to address growing concerns over the impact of online platforms on children.
Under a resolution approved on Thursday, children under 15 will be prohibited from creating, using or operating personal social media accounts. The ban means they will not be able to post content, comment, share or join public groups, the government’s media office said, Reuters reported.
Teenagers aged 15 and 16 will be allowed to use social media platforms subject to enhanced safeguards, including age-appropriate content controls, restrictions on interaction with unknown users, screen-time management tools and parental supervision features.
The rules apply to all social media platforms operating in the UAE and require companies to implement robust age-verification measures, including digital identity checks and artificial intelligence-supported technologies. Self-declaration of age will not be accepted as a valid form of verification.
Platforms must also disable accounts created by children under 15, prevent users from circumventing age-verification systems and refrain from using children’s personal data for targeted advertising or behavioural profiling.
The government said the measures were designed to address concerns over children’s exposure to inappropriate content, unsafe online interactions, excessive social media use and the collection of personal data.
Social media companies will have up to 12 months to comply with the new regulations.
The UAE said the framework aligns with international efforts to strengthen online child protection while balancing digital access with safety.
Several countries, including Australia and others in Europe, have moved to tighten restrictions on children’s use of social media amid mounting concerns about its effects on mental health and online safety.
Regional
Iran banks hit by major cyber attack
Officials said a technical investigation confirmed that the disruptions were the result of a cyberattack.
Several major Iranian banks experienced service disruptions on Saturday following a cyberattack, according to the Coordinating Committee of Iran’s state-owned banks.
The outage affected four major financial institutions, including Bank Melli Iran, Bank Saderat Iran, and Bank Tejarat, causing interruptions to mobile and online banking services, automated teller machines (ATMs), point-of-sale (POS) terminals, and some card transactions.
Officials said a technical investigation confirmed that the disruptions were the result of a cyberattack.
The affected banks stated that their technical teams immediately implemented precautionary measures after detecting the incident in an effort to safeguard customer information and protect banking infrastructure.
Qatasi, secretary of the Coordinating Committee of Iran’s state-owned banks, said necessary recovery and repair measures had been carried out.
Authorities said there is currently no evidence that customer data was accessed without authorization, and no data breach has been reported.
Science & Technology
GLP-1 drugs may have a beneficial effect across many types of cancer
The drugs, originally designed to treat diabetes and found to promote weight loss, have also shown benefits for heart risks, sleep apnea and alcohol and substance abuse.
A growing body of evidence suggests that popular GLP-1 drugs, widely used for weight loss and diabetes, can provide protection against many types of cancer, Reuters reported.
More than two dozen studies presented over the past few days at the American Society of Clinical Oncology meeting in Chicago found that patients taking the drugs showed lower risks of developing cancer and disease progression, better survival, and improved responses to some treatments, compared with people who were not taking the GLP-1s.
The studies included analyses of clinical records and real-world databases tracking patients taking Novo Nordisk’s (NOVOb.CO), Wegovy or Ozempic, Eli Lilly’s (LLY.N), Zepbound or Mounjaro, or older GLP-1 treatments.
The studies were not designed to show how or why GLP-1 use might affect cancer treatment. But researchers believe by reducing inflammation, regulating insulin signaling and possibly engaging directly with tumor biology, they may contribute to a protective effect in cancer patients.
“Chronic inflammation is a fundamental biological pathway involved in the development and progression of many cancers,” said Dr. Elizabeth Susan McDonald of the University of Pennsylvania.
McDonald on Tuesday reported on a study of 110,000 women, showing those who took GLP-1 medications were up to 35% less likely to develop breast cancer than those who did not.
While obesity itself is a known risk factor for certain cancers, the anti-inflammatory effects of GLP-1s will likely prove to have a role in cancer prevention, McDonald said.
GLP-1 drugs include semaglutide, the active ingredient in Wegovy, Ozempic and Rybelsus; tirzepatide, sold as Mounjaro and Zepbound, as well as Lilly’s Trulicity, or dulaglutide, and Novo’s older liraglutide, sold as Saxenda and Victoza.
Some of the strongest signals of benefit came from a study of more than 12,000 patients that showed GLP-1 use was associated with markedly lower odds of cancers advancing to metastatic disease, particularly in lung, breast, colorectal and liver cancers.
People with those cancers who took liraglutide, pramlintide, dulaglutide, tirzepatide, lixisenatide, or semaglutide were 38% to 50% less likely to see the disease spread than people who took drugs from a different class of diabetes medicines known as gliptins.
Reduced cancer incidence, longer survival, and fewer metastases were also seen with GLP-1 use in patients with endometrial, bladder and prostate cancers, as well as in those with small intestine neoplasms and blood cancers, multiple studies found.
A separate analysis of patients treated at U.S. community oncology practices found GLP-1 use was associated with significantly better overall survival across six tumor types – breast, prostate, colorectal, lung, liver and kidney – with a roughly one-third reduction in the risk of death.
Researchers also reported that cancer patients receiving immunotherapies such as Merck’s (MRK.N), Keytruda and Bristol Myers Squibb’s (BMY.N), Opdivo or Yervoy appeared to fare better when they were taking GLP-1 drugs, suggesting a possible interaction with the immune system.
GLP-1 users with type 2 diabetes and stage 3 kidney disease had substantially lower mortality and lower rates of several malignancies, particularly lung, colorectal, and hepatocellular cancers, than non-users, read the report.
While GLP-1 medications carry a warning regarding a possible association with a type of thyroid cancer based on rodent studies, researchers say the recent findings point to a potential beneficial class effect across tumor types, rather than benefits confined to a small subset of cancers.
The drugs, originally designed to treat diabetes and found to promote weight loss, have also shown benefits for heart risks, sleep apnea and alcohol and substance abuse.
“These drugs have never been just glucose-lowering agents,” Dr. Marcin Chwistek of the Fox Chase Cancer Center in Philadelphia said at an ASCO press briefing.
Researchers cautioned that nearly all of the data presented were from observational studies, raising the risk of confounding factors. Patients prescribed GLP-1 drugs may differ in important ways, including overall health, access to care and concurrent treatments, that could influence outcomes.
While the various studies tried to account for those differences, none can prove the drugs improve cancer outcomes. Experts said trials in which GLP-1s are added to standard treatment in some cancer patients but not others are needed to establish clear anti-cancer benefits. Some trials are already being planned.
The apparent cancer benefits were not clearly tied to the drugs’ weight-loss effects, suggesting that alone does not explain the findings, Reuters reported.
A seven-year study with nearly 120,000 participants found GLP-1s were associated with lower rates of new prostate cancer diagnoses in high-risk men, compared to drugs such as Merck’s Propecia and GSK’s (GSK.L), Avodart, which are used to shrink enlarged prostate glands.
GLP-1 users had a “very small” reduction in body weight at one year, said Dr. Colton Jones of the University of Texas San Antonio Mays Cancer Center who presented the study at ASCO.
“We hypothesize that both weight loss and a direct anti-cancer effect and anti-inflammatory effect may be driving the associations observed in our study,” Jones said.
ASCO expert Chwistek said anti-inflammatory and immune-modulating properties have long suggested broader effects of GLP-1s.
Referring to one of the largest studies, Chwistek said: “What’s new here is the consistency across tumor types, and data this large and this consistent warrant a prospective randomized trial.”
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