Afternoon Coffee: Amazon Prepares to Enter Southeast Asia via Singapore, Foxconn to Build Factory in Wisconsin

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Amazon’s e-commerce and Prime services are continuing their international expansion, this time to Southeast Asia, starting in Singapore, TechCrunch writes. While Singapore offers a potential market of 5 million people, Southeast Asia represent a potential 600 consumers, although competition from Alibaba and Tenecent is expected to be steep.

Foxconn Factory 

Apple supplier Foxconn announced Wednesday it would open its first major American factory, bringing 3,000 jobs to southeastern Wisconsin, the New York Times reports. The new plant, a $10 billion investment from the Taiwanese electronics manufacturer, will produce flat-panel display screens for televisions and other consumer electronics.

JDI Seeks Bank Aid 

While Foxconn had a PR coup, another Apple supplier sought financial aid. According to Nikkei Asian Review, Japan Display asked its main creditors for nearly $900 million in aid in order to fund a turnaround effort.

The Post-Brexit Economy

And finally, an economic update: U.K. GDP expanded 0.3% in the second quarter, the Wall Street Journal reports, a sign that the pound’s depreciation has not produced the boost in exports expected.

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