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Elliott Management has built a roughly $1 billion stake in miner Anglo American in recent months, a person familiar with the matter told CNBC. Anglo American shares were up 5% on the news Thursday. News of the activist's position comes as the $43 billion, London-based miner faces takeover interest from BHP, a mining giant with worldwide operations. Anglo rejected BHP's $39 billion takeover offer Friday morning, saying BHP's offer "significantly undervalues Anglo American and its future prospects." Anglo American declined to comment.
Persons: Elliott, Stuart Chambers, BHP, CNBC's Karen Gilchrist Organizations: Elliott Management, CNBC, BHP, Bloomberg Locations: London, Australia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShein delves deeper into U.S. market ahead of anticipated IPOCNBC's Karen Gilchrist discusses the growth strategy for Chinese-founded fashion giant Shein ahead of its hotly anticipated U.S. listing.
Persons: Karen Gilchrist Locations: U.S
A pop-up showcasing Saudi Arabia's Neom development features among the most prominent on the Davos promenade in 2024. But Saudi Arabia is keen to capture some of the limelight, and talent, from its neighbor on the Arabian Peninsula — an ambition laid bare on the Davos Promenade this year. "He's driving entrepreneurship, he's diversifying the economy ... And there are a lot of people that are really interested in working in Saudi Arabia," said Bremmer. "In the Emirates and in Saudi Arabia, you have millions of people that need upskilling, particularly Saudi Arabia which has a much larger population," Hidary said. Hidary, who was recently in Saudi Arabia, says that the UAE and Saudi Arabia are looking at countries like Singapore and Israel that have supported start-ups and are driven by technology.
Persons: Mohammed al, Jadaan, Prince Mohammed bin Salman's, Ian Bremmer, he's, Bremmer, Jamal Khashoggi, King Abdullah, KAUST, Harri Jarvelainen, Vera Futorjanski, Futorjanski, Israel Jack Hidary, Hidary, — CNBC's Karen Gilchrist Organizations: Saudi, CNBC, United Arab, prince's, , Economic, Al, U.S, Eurasia Group, MBS, World Bank, Research Technology Centers, King, King Abdullah University of Science, Technology, UCLA, Riyadh's, Center, AI Research, AI, Artificial Intelligence Authority, Veritas Ventures, Emirates Locations: Davos, CNBC DAVOS, Switzerland, United Arab Emirates, Saudi Arabia, Neom, Saudi, Riyadh, China, Istanbul, UAE, Singapore, Israel, Emirates
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWestern technologies found in Russian military equipment, analysis showsCNBC's Karen Gilchrist discusses new analysis which suggests Russia is continuing to obtain U.S. microchips and other advanced Western technologies for use in its military equipment.
Persons: Karen Gilchrist Locations: Russia
More than two-fifths (42%) of children have their own phone by age 10. A top exec at South Korean tech giant Samsung said he did not give his daughter her own smartphone before she turned 11 years old. "From my personal perspective, my daughter got a smartphone when she was 11," James Kitto, vice president head of the MX Division for the U.K. and Ireland, told the BBC's "Today" radio show Friday. "I personally wouldn't have given her one early, but it is a parental decision as to when you should get your child a phone," he said. "The current evidence doesn't support a specific age at which a smartphone is or is not recommended," Morena told CNBC.
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