Nippon Steel announces €900M investment in Slovakia

Nippon Steel has announced an investment of approximately 900 million euros in Slovakia to expand its low-carbon steel production. The funds will be used by its subsidiary, U. S. Steel Kosice, to construct a new electric arc furnace and an air separation plant. The Slovak government has signed a funding agreement for up to 350 million euros from the European Union's Modernization Fund to support this project.

In the technology sector, OpenAI is reportedly in early investor discussions for a new funding round. This could value the ChatGPT developer at over 1.2 trillion US dollars following the release of its latest flagship model. This follows a March funding round that valued the company at 852 billion US dollars. An initial public offering is anticipated for next year.

In Asia, Japan reported an August trade deficit of 1.1056 trillion JPY, despite a 19.3% year-on-year increase in exports. Additionally, SK Hynix has resolved its wage dispute with employees; following a union vote, workers will receive AI-related bonuses in a combination of cash and company stock.