Oil rises as Saudi comments outweigh recession concerns

Oil rose on Tuesday after top exporter Saudi Arabia said OPEC+ was sticking with output cuts and could take further steps to balance the market, outweighing global recession worries and concern about China’s rising COVID-19 case numbers.

Chipmaker TSMC plans Arizona factory expansion

TSMC, the world’s largest contract chipmaker and a major supplier to Apple Inc, said on Wednesday it was constructing a building that could serve as its second chip factory in Arizona in the United States.

Goldman plans major overhaul to combine key units – source

Goldman Sachs is planning a major reorganization to combine its biggest businesses into three divisions with its storied investment banking and trading businesses being merged into a single unit, a source familiar with the matter told Reuters.