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☆ Australia taps global partners in landmark critical minerals strategy
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +3 min

MELBOURNE, June 20 (Reuters) - Australia, one of the world's biggest suppliers of raw minerals, unfurled a landmark strategy on Tuesday that outlines how it will work with investors and international partners to build a critical minerals processing industry for the energy transition. Supplier of nearly half of the world's lithium, Australia is a significant producer of rare earths, cobalt, copper, graphite, manganese and other minerals key to the global energy transition. The Grattan Institute, a think tank, estimates the critical minerals industry could add more than $400 billion to Australia's economy by 2050, a bigger contribution than the coal industry, Australia's no.2 export, today. The government is considering policies that would enabledomestic supply of Australian critical minerals for Australian projects, it said, although any future approach must be tailored to the needs of Australia and the global context. This comes as international companies secure ownership and supply of Australian minerals, particularly lithium and rare earth elements, meaning Australian processors and manufacturers may struggle to access supplies of Australian minerals in future.

Persons: Madeleine King, Melanie Burton, Chizu Organizations: MELBOURNE, Labor, Grattan Institute, European Union, Thomson Locations: Australia, China, Taiwan, United States, United Kingdom, Japan, Korea, India

☆ How Africa Can Help the World
▼ + stars: | 2023-06-16 | by ( Somini Sengupta | ) www.nytimes.com time to read: +1 min

Next week in Paris, a critical diplomatic meeting begins on how to enable low-income, climate-vulnerable countries to grow their economies while reducing their dependence on fossil fuels. It reminds me of my recent conversation with Wanjira Mathai, managing director for Africa and global partnerships at the World Resources Institute, and Rebekah Shirley, the Africa deputy director. “Can Africa leapfrog?” I asked them. We spoke for two hours over lunch on the terrace of a restaurant in Nairobi as marabou storks squawked and flew across the sky. Our conversation made me think in fresh ways, which is what I hope Climate Forward occasionally does for you.

Persons: Wanjira Mathai, Rebekah Shirley, “, ” Organizations: World Resources Institute Locations: Paris, Africa, Nairobi

☆ Sequoia Capital to split into three parts, separating its China and India businesses
▼ + stars: | 2023-06-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Sequoia partners Roelof Botha, Neil Shen, and Shailendra Singh delivered the update to their limited partners via a joint message. Botha is managing partner for Sequoia's U.S. and Europe business, while Shen and Singh run Sequoia's China and Southeast Asia businesses, respectively. "To deliver on our mission, we have decided to fully embrace our local-first approach," the three partners told their investors. "We've seen growing market confusion due to the shared Sequoia brand as well as portfolio conflicts across entities." Sequoia is one of the world's top venture funds, with notable investments in Apple, Google, Paypal, and Zoom.

Persons: Roelof Botha, Neil Shen, Shailendra Singh, Botha, Shen, Singh Organizations: Sequoia, Sequoia's, XV Partners, Apple, Google, Paypal Locations: China, U.S, Europe, Southeast Asia, India

SummarySummary Companies Harbour seeks to diversify following UK windfall taxTalos shares rise 4% after Reuters reportLONDON, June 6 (Reuters) - Britain's largest North Sea oil and gas producer, Harbour Energy (HBR.L), is in talks to merge with Gulf of Mexico peer Talos Energy (TALO.N), four people familiar with the matter said on Tuesday. Listing in New York could offer Harbour access to oil and gas-focused investors and banks, the sources said. Harbour Energy expects to produce up to 200,000 boed in 2022, largely from Britain's North Sea. Talos holds a stake in the Zama oil development offshore Mexico, where Harbour also holds a 12.4% interest. Cook said in March that the EPL "disproportionately impacted the UK-focused independent oil and gas companies...

Persons: Linda Cook, Cook, Ron Bousso, David French, Greg Roumeliotis, David Gregorio, Lisa Shumaker Organizations: Reuters, LONDON, Harbour Energy, Talos Energy, ARM, European Union, Brexit, Oil, EnVen Energy, EIG Global, Thomson Locations: Gulf, Mexico, New York, Britain, Houston, Gulf of Mexico, —

☆ The Pentagon will pay for SpaceX's Starlink in Ukraine months after Elon Musk complained and asked it to pick up the bill
▼ + stars: | 2023-06-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The Pentagon announced Thursday it will pay SpaceX for Ukraine to use its Starlink service, per Bloomberg. It comes after Elon Musk complained that donated terminals were costing his company too much money. The European Union had previously considered stepping in too, over concerns Musk could stop the vital service on a whim. But in October, Musk grew concerned over how much the operation was costing SpaceX, which had donated Starlink units to Ukraine. The billionaire said "only a small percentage" of Starlink terminals had been paid for, and the cost would exceed $100 million by the end of 2022.

Persons: Elon Musk, —, Starlink, Volodymyr Zelenskyy, Musk, SpaceX Organizations: Pentagon, SpaceX, Bloomberg, European Union, Service, Wired, CNN, Politico, Department of Defense, Ukraine Security Assistance Initiative, Financial Times Locations: Ukraine, Russia, Union, Ukrainian

Ukrainian forces set up Starlink satellite receivers to provide connection for civilians at Independence Square after the withdrawal of the Russian army from Kherson to the eastern bank of Dnieper River, Ukraine, on November 13, 2022. WASHINGTON — The Pentagon said Thursday it has agreed to purchase Starlink satellite internet terminals from Elon Musk's SpaceX for use in Ukraine as Kyiv continues to defend itself against a full-scale Russian invasion. "We continue to work with a range of global partners to ensure Ukraine has the satellite and communication capabilities they need. Satellite communications constitute a vital layer in Ukraine's overall communications network and the department contracts with Starlink for services of this type," the Pentagon said in a statement to CNBC. Musk reportedly told the Pentagon in October he would no longer finance the Starlink terminals in Ukraine as the country prepared to fight through the harsh winter months.

Persons: WASHINGTON —, Mykhailo Fedorov, Musk, Starlink, SpaceX wouldn't Organizations: Independence, WASHINGTON, Pentagon, Elon, SpaceX, CNBC, Bloomberg, Twitter, CNN Locations: Kherson, Ukraine, Kyiv, Europe

WASHINGTON, June 1 (Reuters) - SpaceX's Starlink, the satellite communications service started by billionaire Elon Musk, now has a Department of Defense contract to buy those satellite services for Ukraine, the Pentagon said on Thursday. "We continue to work with a range of global partners to ensure Ukraine has the resilient satellite and communication capabilities they need. Satellite communications constitute a vital layer in Ukraine's overall communications network and the department contracts with Starlink for services of this type," the Pentagon said in a statement. The Pentagon contract is a boon for SpaceX after Musk, the company's CEO, said in October it could not afford to indefinitely fund Starlink in Ukraine, an effort he said cost $20 million a month to maintain. Russia has tried to cut off and jam internet services in Ukraine, including attempts to block Starlink in the region, though SpaceX has countered those attacks by hardening the service's software.

Persons: Starlink, Elon Musk, Mike Stone, Joey Roulette, Franklin Paul, Paul Simao Organizations: Department of Defense, Pentagon, SpaceX, Musk, Bloomberg, Thomson Locations: Ukraine, Russia, Washington

☆ White House says Biden is fine after tripping on sandbag and falling on stage at Air Force Academy commencement
▼ + stars: | 2023-06-01 | by ( Kevin Liptak | ) edition.cnn.com time to read: +3 min

CNN —President Joe Biden tripped on a sandbag and fell as he completed handing out diplomas at the US Air Force Academy commencement in Colorado on Thursday. A group of men, including an official with the Air Force Academy and two Secret Service agents, grasped onto Biden’s arms to help him back to his feet. He’s also been seen slipping on the stairs as he boards Air Force One. In his speech to graduates, Biden did make light of his age, which his political rivals have seized upon as evidence of an inability to serve another term. Biden told US Air Force Academy graduates they were entering a rapidly changing world as he stressed the critical role of US support for its allies and partners and emphasized ongoing US assistance for Ukraine.

Persons: Joe Biden, Biden, “, ”, Ben LaBolt, didn’t, He’s, ” Biden’s, ” Biden Organizations: CNN, US Air Force Academy, Air Force Academy, Secret Service, Twitter, Air Force, Naval Academy, Ukraine, Intelligence Locations: Colorado, Delaware, Ukraine, China

Environment Programme (UNEP), which is hosting the talks, released a blueprint for reducing plastic waste by 80% by 2040. The report, issued earlier this month, outlined three key areas of action: reuse, recycling and reorientation of plastic packaging to alternative materials. This week, dozens of countries were listing public health as one of their priority concerns in limiting plastics production and waste. The UNEP report also identified 13,000 chemicals associated with plastic production, more than 3,000 of which were considered hazardous. Greenpeace, meanwhile, issued a report collecting findings from scientific research papers that suggest plastic recycling processes can release many of these chemicals including benzene into the environment.

☆ Can the World Make an Electric Car Battery Without China?
▼ + stars: | 2023-05-16 | by ( Agnes Chang | Keith Bradsher | ) www.nytimes.com time to read: +10 min

China controls 6% of the world’s nickel 78% of graphite 5% of manganese China controls 6% of the world’s nickel 78% of graphite 5% of manganese Source: CRU Group, U.S.G.S. China makes 73% of NMC cathodes 99% of LFP cathodes China makes 73% of NMC cathodes 99% of LFP cathodes Source: CRU Group Note: Data for “NMC cathodes” category includes NMC, NCA, NMCA; “LFP cathodes” includes LFP, LMFP. China makes 66% of the world’s battery cells 2.8” Cathode Each car has thousands of cells. China makes 54% of the world’s electric cars China makes 54% of the world’s electric cars Source: IEA Note: Data for 2021American investors remain wary about putting money into electric vehicles. Electric car buyers in China get tax rebates, cheaper vehicle registration, preferential parking and access to an extensive charging network.

☆ EV maker Faraday Future to raise $100 mln in debt to support delivery plans
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 9 (Reuters) - Electric vehicle (EV) startup Faraday Future Intelligent Electric (FFIE.O) on Tuesday said it was raising $100 million in debt as it aims to achieve initial deliveries of its flagship FF 91 Futurist vehicle after a funding crunch led to multiple delays. The company said it will also use the new debt funding to ramp up production. "This round of financing commitments is expected to provide the Company with capital to support our FF 91 delivery milestone, sales and service system development, as well as support our near-term production ramp-up goals," Xuefeng Chen, the global CEO of Faraday Future, said. In April, Faraday Future had pushed back the initial deliveries of the FF 91 Futurist by another two months, saying at that time that they would depend on "substantial additional financing". Last November, Faraday Future raised doubts about its ability to continue as a "going concern".

☆ SpaceX partner aims to launch commercial space station
▼ + stars: | 2023-05-10 | by ( Jackie Wattles | ) edition.cnn.com time to read: +4 min

Nor is it clear how much a trip to the proposed space station would cost visitors, which could include professional astronauts or tourists. NASA, along with its global partners, is seeking to use a privately developed space station to replace the aging International Space Station, which has been continuously inhabited in low-Earth orbit since 2000. But the other key partner on the International Space Station, Russia, has said it will only guarantee participation through 2028. “The Dragon team and the team and leadership (at SpaceX) really want to build a Falcon 9-based space station,” said Max Haot, Vast’s president. Later, the company plans to attach the spacecraft as a module to a larger space station.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Facebook depends on local partners to flag hateful content. In Ethiopia, those partners say they were ignored.
▼ + stars: | 2023-04-15 | by ( Tekendra Parmar | ) www.businessinsider.com time to read: +31 min

Trusted partners say warnings were ignoredInsider spoke with six current and former trusted partners from Ethiopia who said that Facebook routinely ignored their pleas to take down content that they deemed hateful or likely to incite violence. Some of the trusted partners declined to be named because they've faced death threats and fear for their own safety. Multiple trusted partners in Ethiopia said hate speech is still proliferating on the platform. Rafiq Copeland, a senior adviser at InterNews, one of Meta's longest-standing trusted partners globally, told Insider that the core complaints of trusted partners in Ethiopia have come up in other Rest of World countries. Even in Addis Ababa, it seemed that everyone knew about the Facebook posts, and many people now saw him as a traitor.

☆ Australia risks losing pole position in critical minerals race
▼ + stars: | 2023-03-30 | by ( Melanie Burton | ) www.reuters.com time to read: +5 min

The Grattan Institute, a think tank, estimates the critical minerals industry could add more than $400 billion to the economy by 2050, a bigger contribution than the coal industry, Australia's no.2 export, today. They want rapid action in light of new competition from the U.S., Canada and the European Union, which have laid out critical minerals strategies including billions of dollars in incentives. King said on Wednesday a critical minerals strategy would be released "soon". However the government has not said when it would deliver its national battery strategy. "The elements for an effective critical minerals strategy are in place.

☆ Swiss Miss: Why UBS's deal with Credit Suisse will threaten its hold on rich clients
▼ + stars: | 2023-03-22 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

UBS was already the largest private wealth manager in the world before it agreed to buy fellow Swiss bank Credit Suisse. UBS and Credit Suisse are both known for servicing the ultra-rich, though UBS does so on a much larger scale. The acquirer had $2.8 trillion in global wealth management assets as of the end of 2022 while Credit Suisse's totalled $585 billion. But the merger gives UBS and Credit Suisse clients the thing that matters mostBut the acquisition wasn't just about rescuing Credit Suisse but restoring confidence in the Swiss banking system, Ibrahim noted. For one Irish billionaire and Credit Suisse client, this is what matters most.

☆ UBS will become a Swiss wealth behemoth after buying Credit Suisse, but blending the two rivals could get awkward and messy
▼ + stars: | 2023-03-21 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

UBS was already a giant in wealth management before it agreed to buy doomed rival Credit Suisse. UBS was already the largest private wealth manager in the world before it agreed to buy fellow Swiss bank Credit Suisse. UBS and Credit Suisse are both known for servicing the ultra-rich, though UBS does so on a much larger scale. The acquirer had $2.8 trillion in global wealth management assets as of the end of 2022 while Credit Suisse's totalled $585 billion. But the merger gives UBS and Credit Suisse clients the thing that matters mostBut the acquisition wasn't just about rescuing Credit Suisse but restoring confidence in the Swiss banking system, Ibrahim noted.

☆ Banking fallout proves nothing's free from risk, says Patomak Global Partners' Keith Noreika
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBanking fallout proves nothing's free from risk, says Patomak Global Partners' Keith NoreikaKeith Noreika, Patomak Global Partners, joins 'The Exchange' to discuss the SVB collapse and banking regulation.

March 19 (Reuters) - Talks over rescuing Credit Suisse (CSGN.S) rolled into Sunday as UBS AG (UBSG.S) sought $6 billion from the Swiss government to cover costs if it were to buy its struggling rival, a person with knowledge of the talks said. The guarantees UBS is seeking would cover the cost of winding down parts of Credit Suisse and potential litigation charges, two people told Reuters. Credit Suisse, UBS and the Swiss government declined to comment. U.S. President Joe Biden's administration moved to backstop consumer deposits while the Swiss central bank lent billions to Credit Suisse to stabilise its shaky balance sheet. There were multiple reports of interest for Credit Suisse from other rivals.

He now faces renewed criticism over his agenda at the Fed, where he oversaw efforts to reduce regulations on regional banks. U.S. regional banks are expected to pay higher rates to depositors to keep them from switching to larger lenders, leaving them with higher funding costs. In 2008, regulators had to contend with billions of dollars in toxic mortgages and complex derivatives sitting on bank books. Currently, regional banks below $250 billion in assets have simpler capital, liquidity and stress testing requirements. "SVB is not a very complicated bank," said Dan Awrey, a Cornell Law professor and bank regulation expert.

☆ Women's Tennis Association partners with CVC to advance commercial growth of women's tennis
▼ + stars: | 2023-03-08 | by ( John Lynch | ) www.businessinsider.com time to read: +4 min

The Women's Tennis Association has partnered with CVC Capital Partners in an effort to advance the commercial growth of the sport. Founded by Billie Jean King in 1973, the WTA is the principal organizing body of women's professional tennis. The ambition is to materially grow women's tennis — its profile, value, and prize money — for the benefit of the players, tournaments, and its fans. "I'm inspired to be a part of the evolution of women's tennis and building out the next 50 years of the WTA." "This is exactly what women's tennis needs and I'm excited for what's to come," Jessica Pegula, WTA world No.

☆ Bernie Sanders successfully cajoled Starbucks CEO Howard Schultz into testifying before a Senate committee on labor practices
▼ + stars: | 2023-03-07 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

Interim Starbucks CEO Howard Schultz has agreed to testify in front of Sen. Bernie Sanders' committee. Sanders chairs the Health, Education, Labor, and Pensions Committee (HELP), and wanted to subpoena Schultz to testify. Now, Schultz has agreed to testify on March 29 about the firm's alleged anti-union activities. Ahead of that vote — which was scheduled for Wednesday — Sanders said that Schultz has "finally agreed to testify." Sanders also thanked the members of his committee, "who, in a bi-partisan way, were prepared" to vote to subpoena Schultz.

☆ Apple's advertising business is expanding into new areas this year such as TV. Here are 14 behind-the-scenes Apple executives building its advertising empire.
▼ + stars: | 2023-03-03 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +11 min

Right now its roughly $5 billion-in-revenue ads business largely consists of search ads sold within the App Store. We asked more than a dozen advertising industry insiders and former Apple advertising staffers to identify the most important executives building Apple's advertising business. Teresi's ascent coincides with the explosive growth of Apple's ad business in recent years. A former Yahoo and Quantcast staffer, Crawford first joined Apple in 2011 to work on global operations for iAd. Lauren Fry - Apple TV+ ad salesApple hired Fry, a TV and video ad sales veteran, in February this year, The Information reported.

☆ Leylah Fernandez urges athletes to become financially literate as soon as possible
▼ + stars: | 2023-03-03 | by ( Stefanie Kratter | ) www.cnbc.com time to read: +2 min

She's won two Women's Tennis Association titles and was a U.S. Open finalist in 2021. This week, Fernandez was in New York as Morgan Stanley and the WTA announced a new, multi-year global partnership. "Morgan Stanley's partnership with the WTA is a great step forward for women's sports in general. Morgan Stanley was drawn to Fernandez's leadership example. She also reflects our brand values, including giving back to the community, and valuing equity and inclusion," said Alice Milligan, Morgan Stanley's chief marketing officer.

☆ An ex-Instagram employee says Meta's 'impatience' has hurt its shopping efforts
▼ + stars: | 2023-02-22 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +6 min

But as Instagram axes shopping products, ex-staffer Meghana Dhar points to Meta's "impatience." The moves have left many asking: What's going on with Instagram shopping? While at Instagram, Dhar worked on Instagram's early shopping features, from onboarding brands to getting John Mayer to host a live shopping event with laundry company The Laundress. But it's also had a tendency to launch and then axe shopping products, like Instagram (and Facebook) live shopping and affiliate marketing. Scaling back on shopping, for now, could also be a blessing in disguise for Meta, Dhar added.

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