This Oct. 26, 2017 file photo shows the corporate logo of LG Electronics in Goyang, South Korea. Two South Korean electric vehicle battery makers have settled a long-running trade dispute that will allow one of them to move ahead with plans to make batteries in Georgia. That's according to a person briefed on the matter. The person says LG Energy Solution and SK Innovation reached the settlement, ending the need for President Joe Biden to intervene.(AP Photo/Lee Jin-man, File)
WASHINGTON (AP) — Two big South Korean electric vehicle battery makers have settled a long-running trade dispute that will allow one of them to move ahead with plans to make batteries in Georgia, a person briefed on the matter says.
LG Energy Solution and SK Innovation reached the settlement, ending the need for President Joe Biden to intervene in the dispute, the person said Saturday. The person asked not to be identified because the companies have not yet announced the settlement. No details were available.
The U.S. International Trade Commission decided in February that SK stole 22 trade secrets from LG Energy, and that SK should be barred from importing, making or selling batteries in the United States for 10 years.
The decision could have left Ford and Volkswagen scrambling for batteries as they both roll out additional electric vehicle models. SK has contracts to make batteries for an electric Ford F-150 pickup truck and an electric Volkswagen SUV.
The commission said SK could supply batteries to Ford Motor Co. for four years and to Volkswagen AG for two years.
The decision jeopardized a $2.6 billion battery factory that SK is building in Commerce, Georgia.
Politicians were calling on Biden to overrule the commission’s decision. Biden had until Sunday night to make a decision.
Krisher reported from Detroit.
Featured Article: Differences Between Momentum Investing and Long Term Investing 7 Stocks to Watch When Student Debt Forgiveness Gets Passed
Now that the Biden administration is fully in charge, student debt forgiveness has moved to the front burner. Consider these numbers. There is an estimated $1.7 trillion in student debt. The average student carries approximately $30,000 in student loans.
If $10,000 of student debt were to be canceled, there are estimates that one-third of borrowers (between 15 million to 16.3 million) would become debt-free. Of course, if the number hits $50,000 as some lawmakers are suggesting the impact would even greater.
Putting aside personal thoughts on the wisdom of pursuing this path, it has the potential to unleash a substantial stimulus into the economy.
And as an investor, it’s fair to ask where that money would go. After all, there’s no harm in having investors profit from this stimulus as well.
A counter-argument is that the absence of one monthly payment may not provide enough money to make an impact. However, Senator Elizabeth Warren referred to the effect student loans have in preventing many in the millennial and Gen-Z generations from pursuing big picture life goals such as buying a house, starting a business, or starting a family.
With that in mind, we’ve put together this special presentation that looks at 7 stocks that are likely to benefit if borrowers are set free from the burden of student loans.
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