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☆ Energy Department Offers $2.3 Billion Loan to Boost Lithium Production
▼ + stars: | 2024-03-14 | by ( Madeleine Ngo | ) www.nytimes.com time to read: +1 min

The Energy Department is moving forward on a deal to provide a $2.3 billion loan to Lithium Americas Corp. in an effort to shore up domestic supplies of a mineral vital for the production of electric vehicles. If finalized, the loan would help finance the construction of a lithium carbonate processing plant at Thacker Pass in Nevada. The United States, however, has lagged behind other countries in producing the metal. Only 1 percent of the lithium used in the United States is harvested domestically, according to the Energy Department. Lithium carbonate from Thacker Pass could support the production of batteries for up to 800,000 electric vehicles a year, according to the Energy Department.

Organizations: Energy Department, Lithium Americas Corp, Administration Locations: Thacker, Nevada, North America, United States, Australia, Chile, China, Argentina

☆ Leaked email: Broadcom CEO says the company is reviewing 'strategic alternatives' for two of VMware's businesses
▼ + stars: | 2023-11-29 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +5 min

Broadcom CEO Hock Tan told employees he's reviewing strategic alternatives for two parts of VMware following the acquisition of the cloud software company. Most recently, VMware president Sumit Dhawan became CEO of cybersecurity company Proofpoint. I am very pleased to welcome VMware employees to Broadcom and bring together our engineering-first, innovation-centric teams. We will also continue to support VMware's End-User Computing, led by Shankar Iyer, VP and General Manager, and Carbon Black, led by Jason Rolleston, VP and General Manager, as we review strategic alternatives for these two businesses. As we move forward, we expect there will be growth opportunities for VMware employees within the larger combined company.

Persons: Hock Tan, Tan, CRN, Raghu Raghuram, Krish Prasad, Purnima Padmanabhan, Sanjay Uppal, Umesh Mahajan, Thoma, Sumit Dhawan, •, Shankar Iyer, Jason Rolleston, Mike Gannon, • Regan McGrath, Luigi Freguia, • Sylvain Cazard, Cynthia Loyd, Ricky Cooper, Joan Stone, Mark Nagle, • Bryan Prosek Organizations: Broadcom, VMware, Business, VMware Cloud Foundation, CA Technologies, Thoma Bravo, Symantec, Cyber Security Services, Accenture, HCL Technologies, Broadcom Employees, •, Security, Strategic, Corporate, Asia Pacific, Services

☆ Lightning Round: Vertiv is 'hitting it out of the park', says Jim Cramer
▼ + stars: | 2023-11-13 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Vertiv is 'hitting it out of the park', says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Energy Transfer, Alibaba, Lithium Americas Corp, Crown Castle, RadNet, Vertiv and Aercap.

Persons: Jim Cramer Organizations: Lithium Americas Corp Locations: RadNet

☆ Here are Wednesday's biggest analyst calls: Meta, Tesla, Nvidia, Apple, Sunrun, Alphabet, Snowflake & more
▼ + stars: | 2023-10-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS initiates Fiverr as buy UBS said the Israeli online marketplace company has "significant upside." UBS upgrades Fluor to buy from hold UBS said the construction and engineering stock is underappreciated. Bank of America upgrades Orange to buy from underperform Bank of America double upgraded the European telco company and says it has upside potential. Bank of America reiterates Blackrock as buy Bank of America said the asset management company is well positioned. Mizuho reiterates Nvidia as buy Mizuho added the stock to its top picks list and says it's an AI winner.

Persons: Morgan Stanley, Tesla, it's, underappreciate FLR, TD Cowen, Key, Goldman Sachs, Goldman, Oppenheimer, Mizuho, Coinbase, Bernstein, PTON Organizations: US, UBS, Americas Corp, Bank of America, underperform Bank of America, Tech, of America, Apple, JPMorgan, Netflix, ARM, " Bank of America, Blackrock, Nvidia, Mizuho, NOVA Locations: Argentina, Argentine, Orange, 3Q23, 4Q23

Interior Department on Tuesday removed one of the last remaining obstacles to Lithium Americas Corp's (LAC.TO), Thacker Pass mine project in Nevada by finding nearly all of the site contains the metal used to make electric-vehicle batteries. The opinion from the department's solicitor comes amid an acrimonious debate about whether more U.S. mines should be built to produce lithium and other green energy transition metals. Of the dozens of mining claims at the Thacker Pass site held by the company, the government found fewer than 10 did not contain lithium mineralization, an Interior Department official told Reuters. "They're going to be able to start construction and production without these claims being in the plan of operation," the official said of Lithium Americas. "We're in favor of increasing domestic mineral production when it's being done in the right location and in the right way," the official said.

☆ TSX tumbles after hotter-than-expected inflation data
▼ + stars: | 2023-05-16 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

A report by Statistics Canada showed that April annual consumer inflation had surprisingly ticked up, fueled by higher rental and mortgage interest costs. "Underlying core inflation is settling in around 4%, which is clearly still too high for the BoC's comfort." ET (14:14 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 235.32 points, or 1.15%, at 20,304.65. The materials sector (.GSPTTMT) tumbled 1.4% and was the biggest drag on the TSX, tracking weak base- and precious-metal prices. Reporting by Johann M Cherian and Vansh Agarwal in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

☆ Argentina's lithium pipeline promises 'white gold' boom as Chile tightens control
▼ + stars: | 2023-04-24 | by ( Lucila Sigal | ) www.reuters.com time to read: +4 min

Neighboring Chile, the region's top lithium producer, last week unveiled plans for a state-led public-private model, spooking investors. Bolivia has long maintained strict control over its huge though largely untapped resources, while Mexico nationalized its lithium deposits last year. The country has six lithium projects under construction and 15 in the advanced exploration or feasibility stage, Mignacco said. "Argentina's lithium sector has thrived through a decentralized, pro-market strategy," said Benjamin Gedan, director of the Latin America program at The Wilson Center, adding in contrast Bolivia's lithium sector had "repeatedly stalled as a result of excessive state control." "Chile today produces and exports much more lithium than Argentina," said Natacha Izquierdo, analyst at consultancy ABCEB.

☆ Futures flat on mixed earnings, Fed policy uncertainty
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures off: Dow 0.02%, S&P 0.02%, Nasdaq 0.01%April 21 (Reuters) - U.S. stock index futures were little changed on Friday as investors digested a mixed bag of earnings reports, while awaiting more data for clues on the outlook for interest rates and the economy. Investors will focus on S&P Global's flash purchasing managers' indexes (PMI) at 9:45 a.m. Meanwhile, a slate of Fed speakers this week supported the view of another 25 basis point rate hike by the U.S. central bank when it meets next week. ET, Dow e-minis were down 8 points, or 0.02%, S&P 500 e-minis were down 0.75 points, or 0.02%, and Nasdaq 100 e-minis were down 1.5 points, or 0.01%. Reporting by Sruthi Shankar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

[1/2] The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Many teem with lithium, calcium and other minerals, and DLE technologies aim to separate out the lithium and leave the rest. LITHIUM METAL FROM BRINEEnergyX has said its technology can make lithium metal directly from brine, a tantalizing prospect for GM that could let the automaker bypass lithium refining, which is widely seen as a key supply chain bottleneck. The EnergyX investment comes after GM in January agreed to pay $650 million to become the largest shareholder in Lithium Americas Corp (LAC.TO), which is developing the Thacker Pass clay lithium project in Nevada. "This GM investment will completely change the trajectory of EnergyX," said Teague Egan, the startup company's founder and chief executive.

☆ Gen Z wants to run your company. 'Shadow boards' give them a say without handing them the keys.
▼ + stars: | 2023-03-31 | by ( Juliana Kaplan | Rebecca Knight | ) www.businessinsider.com time to read: +8 min

Oliver Wyman says its shadow board helped contribute to a 30% reduction in attrition in 2022. Andrew Pérez started at the management-consulting company Oliver Wyman three years ago. Oliver Wyman started its shadow board in 2021. Oliver Wyman's executive team tends to be older, while the shadow board skews younger and more diverse. She was eager to join the shadow board last year.

For 100 of those applicants, the Energy Department has hired staff to provide business development advice and "intense mentorship," Jigar Shah, head of the Energy Department's Loan Programs Office, told Reuters on the sidelines of the CERAWeek energy conference in Houston. Given the rapidly evolving technologies in the clean energy space, Shah said the department might shorten loan terms. If we think that that's a risk, then we just change the terms of the loan," Shah said. The LPO office would like more applications from electric utilities and oil and gas companies for projects designed to reduce emissions, as well as geothermal companies, Shah said. Commercial debt markets are "less interested in the more innovative approaches that (wind companies) are taking.

LONDON, March 3 (Reuters) - The race for electric vehicle (EV) battery metals is heating up. Carmakers have already been busy tying up supplies of battery metals under direct off-take agreements with existing metals producers. Automakers' collective move into the mining sector has so far largely prioritised the lithium sector, where Western companies have been playing catch-up with Chinese investors. Lithium supply is struggling to scale up at the speed required to meet accelerating demand from battery-makers. Capital expenditure in the sector slumped, miners opting to return cash to shareholders rather than dig more big copper mines.

Feb 6 (Reuters) - A U.S. judge on Monday ordered regulators to reconsider part of the permit approving Lithium Americas Corp's (LAC.TO) Thacker Pass lithium mine project in Nevada, though the mixed ruling rejected claims that the project would cause unnecessary harm to the environment or wildlife. Chief Judge Miranda Du of the federal court in Reno, Nevada, ordered the U.S. Bureau of Land Management to determine whether the company has the right to dump waste rock at the site, a ruling based on a complex set of case law. Du's ruling can be appealed. Reporting by Ernest Scheyder; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ GM, Lithium Americas to develop Thacker Pass mine in Nevada
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

Jan 31 (Reuters) - General Motors Co (GM.N) and Lithium Americas Corp (LAC.TO) on Tuesday announced they would jointly invest to develop the Thacker Pass mine in Nevada. Under the agreement, GM will make an equity investment of $650 million in Lithium Americas. Lithium carbonate from Thacker Pass will be used in GM's proprietary Ultium battery cell. U.S.-listed shares of Lithium Americas rose over 9% in premarket trade. Production at Thacker Pass, which is expected to create 1,000 jobs in construction and 500 in operations, is projected to begin in the second half of 2026, the companies said in a statement.

☆ Senator calls for probe of mass surveillance tool used by U.S. law enforcement
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

Law enforcement agencies have routinely accessed the vast trove of money transfer records without court oversight, Wyden said. The TRAC database was created as part of a 2014 money laundering settlement between the Arizona attorney general's office and Western Union (WU.N). The U.S. Drug Enforcement Administration, DHS and Arizona attorney general's office have all asked for data from money transfer companies and directed them to send data to TRAC, Wyden said. Western Union, MoneyGram International (MGI.O), Viamericas Corp, and Euronet Worldwide (EEFT.O) are among the companies that have shared customer data with TRAC in bulk, he added. Wyden announced in March that HSI issued custom summonses, a type of subpoena, for millions of money transfer records between Mexican residents and people living in four U.S. states.

☆ Cramer's lightning round: Chart Industries is not a buy
▼ + stars: | 2023-01-05 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Chart Industries Inc : "This is not the time to go into a really gigantic company that's involved with making all sorts of the big tankers down there in LNG-ville." Loading chart...ZIM Integrated Shipping Services Ltd : "I don't like the shipping services. I've been staying away from them for ages. I am still staying away from them." Loading chart...Chewy Inc : "I still worry one day that Amazon is going to say, 'you know what, we've had enough of Chewy.'"

Republican leaders had promised voters during the election they would cut the mining permit review timeline in half and boost domestic EV mining, rather than seek more supply overseas. Westerman and other Republicans will be partially stymied by Republicans' failure to wrest control of the U.S. Senate from Democrats. With their newfound control, Republicans could threaten to withhold funding from agencies perceived as taking too long to approve mines. The Resolution project is opposed by Representative Raúl Grijalva, an Arizona Democrat who will relinquish his chairmanship of the House Natural Resources Committee to Westerman. Republicans say that expanding such deals to other countries is not a priority for the new Congress.

President Joe Biden last week doled out $2.8 billion to miners developing new U.S. sources of lithium, nickel, copper and other EV minerals, as well as battery parts manufacturers and recyclers. Those grants followed August's Inflation Reduction Act, which links EV tax credits to minerals extracted domestically or from 20 allies. "People have a misconception about how quickly we can get mines up and running given the U.S. permitting process," said Megan O'Connor, Nth Cycle's CEO. "Hopefully, they'll give us some help and fast track some of the permitting process," said Kent Masters, Albemarle's CEO. The yawning divide between America and China's approaches to funding the EV supply chain is now a top concern for many policymakers and their advisers in the nation's capital.

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