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☆ Asia stocks rise ahead of US inflation data; yen stumbles
▼ + stars: | 2023-11-14 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.49% higher, while Tokyo's Nikkei (.N225) gained 0.36%. The Japanese yen was at 151.71 per dollar in Asian hours, having touched a one-year low of 151.92 on Monday. The U.S. inflation report, due later in the day, has investors' attention on Tuesday, especially after Federal Reserve Chair Jerome Powell and policymakers have said they are still not sure that interest rates are high enough to tame inflation. YEN WATCH RESUMESThe yen's broad decline has traders back to keeping an eye on whether the Japanese authorities will intervene. The dollar index , which measures the U.S. currency against six rivals, was up 0.057% at 105.69.

Persons: Australia's, Shunichi Suzuki, Jerome Powell, Anderson Alves, HSI, Fitch, Gary Dugan, Dugan, YEN, Nicholas Chia, Brent, Ankur Banerjee, Shri Navaratnam Organizations: Tokyo's Nikkei, Japanese Finance, Federal, Reuters, U.S, AAA, Dalma, Standard Chartered, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, U.S, China, New York

☆ The EU has sent less than a third of the 1 million rounds of ammo it promised Ukraine, report says
▼ + stars: | 2023-11-14 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +2 min

The EU pledged to send Ukraine one million rounds of ammunition by March 2024. But it has only sent 300,000 so far, an EU official told Politico Europe. AdvertisementThe European Union will likely fall short of sending the one million rounds of ammunition it pledged to Ukraine, an unnamed senior EU official told Politico Europe. Politico's report said that EU countries had sent 300,000, less than a third of their promise. Other European and Ukrainian senior officials drew the same conclusion this week after Bloomberg reported that the EU was "very unlikely" to hit its 1 million rounds target by March.

Persons: —, Boris Pistorius, Dmytro Kuleba, Rob Bauer Organizations: Politico, Service, EU, Politico Europe, Bloomberg, Germany's, Guardian, Ukraine's, European Pravda Locations: Ukraine, Politico Europe, Netherlands

☆ Turkey's crypto rules seen addressing licensing, taxation after boom
▼ + stars: | 2023-11-14 | by ( Ezgi Erkoyun | ) www.reuters.com time to read: +5 min

MARKET BOOM"We have been observing that the interest in crypto assets in Turkey is on a continuous rise. There is currently a lack of regulation in this area," said Mucahit Donmez, chief executive of crypto currency exchange Binance Turkey. The government said work on regulation for crypto asset service providers and taxation of digital virtual assets will be on the agenda for 2024. In 2021, authorities banned the use of crypto assets for payments after some local exchanges were investigated for fraud. Onur Altan Tan, board member at Futurance Finance Tech & Fexobit crypto currency platform, said that they are expecting the new regulation to detail out licensing criteria for platforms and bring taxation for users.

Persons: Bora Erdamar, Erdamar, Mehmet Simsek, FATF, Mucahit Donmez, Altan Tan, There's, Ezgi Erkoyun, Jonathan Spicer, Sharon Singleton Organizations: BlockchainIST, Turkey, FATF's, Service, Binance Research, Futurance Finance Tech, Thomson Locations: Turkey, ISTANBUL, Ankara, Paris, United States, India, United Kingdom

☆ UBS predicts tricky start to 2024 for emerging market assets
▼ + stars: | 2023-11-14 | by ( Marc Jones | ) www.reuters.com time to read: +1 min

LONDON, Nov 14 (Reuters) - Analysts at investment bank UBS have predicted that emerging market (EM) assets are likely to have a difficult start to 2024 before picking up and finishing the year with respectable gains. The Switzerland-based bank's outlook forecast that EM fixed income would return 8-10% next year, EM equities 6-8% and 1-3% for spot FX gains, with "most returns backloaded". "With risk premia now highly compressed, we think even a mild U.S. recession can first see EM assets pull back. So be careful what you wish for," the bank's report said. Reporting by Marc Jones, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Marc Jones, Louise Heavens Organizations: UBS, FX, Thomson Locations: Switzerland

[1/6] A Russian delegation led by Alexander Kozlov, the minister of natural resources, presents flower baskets to the statues of North Korea's founder Kim Il Sung and late leader Kim Jong Il at Mansudae Hill, in Pyongyang, North Korea, November 14, 2023. Russia and North Korea were conducting talks on the economy, science and technology, KCNA state media reported, without elaborating. North Korea's missile programme, as well as its nuclear weapons, have been banned by U.N. Security Council resolutions, which imposed sanctions on the country. Washington has accused North Korea of supplying military equipment to Russia for use in its war with Ukraine, and Moscow of providing technical military support to help North Korea. North Korea and Russia have denied any arms deals, though their leaders pledged closer military cooperation at their September summit.

Persons: Alexander Kozlov, North, Kim Il Sung, Kim Jong Il, Kozlov, Lloyd Austin, Vladimir Putin, Kim Jong Un, KCNA, Hyunsu Yim, Josh Smith, Grant McCool, Gerry Doyle Organizations: Russian, KCNA, REUTERS Acquire, Rights, . Defense, North, St, U.S, Korea's General Missile Bureau, Military, U.N ., Thomson Locations: Mansudae, Pyongyang, North Korea, Rights SEOUL, North Korean, Seoul, China, Russia, Russian, Russia's, Petersburg, Korea, South, Washington, Ukraine, Moscow

☆ China receives US equipment to make advanced chips despite new rules-report
▼ + stars: | 2023-11-14 | by ( Alexandra Alper | ) www.reuters.com time to read: +3 min

Flags of China and U.S. are displayed on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - Chinese companies are buying up U.S. chipmaking equipment to make advanced semiconductors, despite a raft of new export curbs aimed at thwarting advances in the country's semiconductor industry, a congressional report said on Tuesday. China watchers had theorized that SMIC could have made the chip with equipment obtained prior to the October 2022 rules, but it had other options for obtaining the equipment from oversees, the report shows. The United States managed to plug a key loophole in its efforts to stymie China's access to advanced chipmaking tools by convincing allies Japan and the Netherlands, with similarly robust chipmaking equipment industries, to announce their own restrictions on exports of the coveted technology. China's imports of semiconductor equipment from all countries totaled $13.8 billion (RMB 100 billion) over the first eight months of 2023, it added.

Persons: Florence Lo, United States scrambles, SMIC, Alexandra Alper, Chizu Organizations: REUTERS, Rights, U.S, Biden, Commerce Department, Huawei, SMIC, United, Office, Thomson Locations: China, U.S, United States, Netherlands, Japan

The National Climate Assessment, which comes out every four to five years, was released Tuesday with details that bring climate change's impacts down to a local level. Compared to earlier national assessments, this year’s uses far stronger language and “unequivocally” blames the burning of coal, oil and gas for climate change. In the Midwest, both extreme drought and flooding threaten crops and animal production, which can affect the global food supply. “Climate change is finally moving from an abstract future issue to a present, concrete, relevant issue. Five years ago, when the last assessment was issued, fewer people were experiencing climate change firsthand.

Persons: ”, Zeke Hausfather, Kim Cobb, “, of Colorado's Waleed Abdalati, Katharine Hayhoe, they'd, Hayhoe, there's, Colorado's Abdalati, Arati Prabhakar, Hausfather, Rob Jackson, ” ___ Borenstein, Webber, Seth Borenstein, Tammy Webber Organizations: Berkeley, midcentury, U.S ., Brown University, AP, of Colorado's, NASA, Nature Conservancy, Texas Tech University ., Associated Press, NORC, for Public Affairs Research, Colorado's, Biden, White, ” Stanford University, Twitter Locations: United States, Alaska, Great, Hawaii, U.S, U.S . Caribbean, Brown, America, Kensington , Maryland, Fenton , Michigan

☆ National Climate Assessment: 5 takeaways on the US climate report
▼ + stars: | 2023-11-14 | by ( Ella Nilsen | ) edition.cnn.com time to read: +9 min

“Climate change is affecting every aspect of our lives,” Hayhoe told CNN. Here are five significant takeaways from the federal government’s sweeping climate report. Climate change doesn’t cause things like hurricanes or wildfires, but it can make them more intense or more frequent. And hotter and drier conditions from climate change can help vegetation and trees become tinderboxes, turning wildfires into megafires that spin out of control. But it’s not happening nearly fast enough to stabilize the planet’s warming or meet the United States’ international climate commitments, the report explains.

Persons: Katharine Hayhoe, ” Hayhoe, we’re, Rick Curtis, Hilary Swift, Joe Biden, ”, John Podesta, Ethan Swope, Biden, West Virginia –, Scott Brauer, Dave White, White, ” White Organizations: CNN, UN, Texas Tech University, New York Times, ” White, United States, Bloomberg, Getty, Arizona State University, Rockies Locations: Barre , Vermont, Maricopa County, Vermont, Maui, Gulf, Aguanga , California, California, Florida , Louisiana, Texas, Kentucky, West Virginia, rainstorms, China, India, Barnstable , Massachusetts, Southwest, California’s Sierra Nevada, West

☆ U.S.-China relations are now more about crisis prevention
▼ + stars: | 2023-11-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

It will be a rare summit before the U.S. presidential election cycle kicks off in earnest. "The immediate aftermath of the [Biden-Xi] meeting is likely to mark a cyclical high point for bilateral relations," he said. Taiwan is set to hold its presidential election in January, and a more pro-independence winner could stir more of Beijing's ire. Beijing considers Taiwan part of its territory, with no right to independently conduct diplomatic relations. The U.S. recognizes Beijing as the sole government of China but maintains unofficial relations with Taiwan, a democratically self-governed island.

Persons: Joe Biden, Xi Jinping, Kevin Lamarque, Biden, Michael Hirson, Trump, Xi, Gabriel Wildau, Antony Blinken, Chuck Schumer, Shen Yamei, Shen, Gina Raimondo, Lifeng, Janet Yellen, Teneo, Nancy Pelosi, Teneo's Wildau Organizations: Reuters, U.S, China Research, Research, D.C, Strategic, International, Biden, Republican, Democratic, American Studies, China Institute of International Studies, CNBC, U.S . Commerce, Treasury, U.S . House, Representatives, Economic Cooperation, China's Ministry of Commerce Locations: Bali , Indonesia, Reuters BEIJING, U.S, China, Taiwan, South China, Washington, Beijing, San Francisco, Gaza, Ukraine, Asia

The world is off track in its efforts to curb global warming in 41 of 42 important measurements and is even heading in the wrong direction in six crucial ways, a new international report calculates. On the flip side, public money spent to create more fossil fuel use is going in the wrong direction and faster than it has in the past, said study co-author Kelly Levin, science and data director at the Bezos Earth Fund. The globe has already warmed about 1.2 degrees Celsius (2.2 degrees Fahrenheit) since the mid 19th century. But he said the report shows “we’re really struggling to pick the low-hanging fruit.”___Read more of AP’s climate coverage at http://www.apnews.com/climate-and-environment. ___Follow Seth Borenstein on X, formerly known as Twitter, at @borenbears___Associated Press climate and environmental coverage receives support from several private foundations.

Persons: Kelly Levin, it’s, ” Levin, ”, Joe Thwaites, Katharine Jacobs, ” Jacobs, Justin Mankin, “ we’re, ___ Read, Seth Borenstein Organizations: Climate, World Resources Institute, Fund, United Nations, United, Natural Resources Defense, Arizona State University, Twitter, AP Locations: Canada, South Asia, Dubai, United States, Paris, Ukraine, Dartmouth

☆ Teck to sell majority stake in $8.9 bln coal business to Glencore - Globe & Mail
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Glencore will pay $6.9 billion for a 77% stake in Teck's coal unit, while Japan's Nippon Steel (5401.T) will pay $1.7 billion and swap its interest in one of Teck's coal operations for 20% of the coal business, the report said, citing sources. The Wall Street Journal first reported that Glencore and Teck were in advanced talks on a deal that would value Teck's coal assets at close to $10 billion. Glencore and Nippon Steel declined to comment. The Vancouver-based company has twice rejected an unsolicited $22.5 billion bid for the entire company from Glencore. The company in July said it had received offers from "various" interested parties for its coal business.

Persons: Lyle Stafford, Glencore, Korea's, Teck, Posco, Shubhendu Deshmukh, Shubham, Sonia Cheema Organizations: REUTERS, Teck Resources, Glencore Plc, Asian, Nippon Steel, Globe & Mail, Japan's Nippon Steel, Street Journal, Reuters, Thomson Locations: Teck, Vancouver , British Columbia, Canada, KS, Glencore, The Vancouver, Bengaluru

☆ You can thank China and record US oil output for lower gas prices
▼ + stars: | 2023-11-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But the cost of crude oil has been largely declining since the middle of October. The average for a gallon of gas in the United States, meanwhile, dropped to $3.37, according to AAA. This “steady, if slow” decline in gas prices, said an AAA spokesperson, may soon gain speed if oil prices continue their descent. They’re more concerned with economic weakness in China and an increase in oil production in the United States. In the first week of November, US crude oil production reached a new record of 13.2 million barrels per day.

Persons: ” David Kelly, ”, ” David Morrison, refiners, ” Craig Erlam, Brent, Chris Isidore, “, Ted Decker, Refinitiv, Read, Homebuyers Organizations: CNN Business, Bell, New York CNN, AAA, Asset Management, Federal Reserve, Trade, China’s National Bureau of Statistics, . West Texas Intermediate, International Energy Agency, Revenue, National Association of Realtors, Census Locations: New York, Europe, Saudi Arabia, Russia, United States, China, Iran, America, United

☆ Boeing shares take off on report that China may lift 737 freeze, bumper Dubai orders
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

Nov 13 (Reuters) - Shares of Boeing (BA.N) rose on Monday after a report said China was considering ending its freeze on purchases of the planemaker's best-selling 737 MAX aircraft after more than four years. This, coupled with bumper jet orders from Middle Eastern airlines at the Dubai Airshow, sent Boeing shares up 4%. China is considering resuming purchases of Boeing's 737 MAX aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter. Deliveries of Boeing's bestselling 737 MAX to Chinese airlines were halted following two deadly crashes. Boeing shares have underperformed S&P 500 in 2023Boeing shares were trading at $205.15, compared with analysts' current median price target of $250, according to LSEG data.

Persons: Thomas Hayes, Benoit Tessier, Hayes, Shivansh Tiwary, Ananya Mariam Rajesh, Shilpi Majumdar Organizations: Boeing, Dubai Airshow, APEC, Bloomberg, Paris, REUTERS, Emirates, Thomson Locations: China, Middle, U.S, Le Bourget, Paris, France, Dubai, Bengaluru

☆ Airlines predict record Thanksgiving US holiday travel
▼ + stars: | 2023-11-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Elijah Nouvelage Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - Major U.S. airlines and the Transportation Security Administration (TSA) said Monday they expect record air travel over the Thanksgiving holiday air travel period. Airlines for America says Nov. 26 will be a record-setting air travel day with 3.2 million passengers. The record travel comes despite airline flight cuts to New York airports because of air traffic controller staffing. A government watchdog said in June critical ATC facilities face significant staffing challenges, posing risks to air traffic operations. In the summer of 2022, there were 41,498 flights from New York airports in which ATC staffing was a contributing factor in delays.

Persons: Elijah Nouvelage, David Shepardson, Alistair Bell Organizations: Hartsfield, Jackson Atlanta International Airport, REUTERS, Rights, Major U.S, Transportation Security Administration, Airlines for America, American Airlines, United Airlines, Delta Air Lines, TSA, Federal Aviation Administration, JetBlue Airways, JFK, New York, Thomson Locations: Atlanta , Georgia, U.S, Major, New York, New York City, Burlington , Vermont, New

☆ Middle-class movers are heading to these three cities in search of affordability
▼ + stars: | 2023-11-13 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Middle-class movers are choosing Las Vegas, Phoenix, and San Antonio as top destinations. It was the second-most popular destination for middle-class movers coming from out of state, the report said. While cities like Austin saw a surge in home prices, San Antonio has been able to maintain some of its affordability. AdvertisementAdvertisement"If you were to ask me, I'd still tell you San Antonio's more affordable than most cities in Texas," San Antonio real-estate agent Ricardo "Rico" Riojas, Jr. told Insider. San Antonio, Texas.

Persons: —, Andrew Arevalo, Getty Images Arevalo, Redfin, Arevalo, there's, he's, We've, Stephanie K, Dow, I'd, Ricardo, Rico, Riojas, Jr, Allan Baxter, San Antonio — Organizations: Service, Denver, Pew Research, Getty Images, MLS, Las Vegas, San Antonio, Getty, Austin Locations: Vegas, Phoenix, San Antonio, The Nevada, Arizona , Nevada , Florida, Texas, Sin, Colorado, Nevada and Colorado, Clark County, Las Vegas, Denver, California, Arizona, Phoenix , Arizona, San, . Texas, Austin, Antonio, Antonio , Texas

☆ Biden and Xi will sign a deal to keep AI out of control systems for nuclear weapons: report
▼ + stars: | 2023-11-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

China's President Xi Jinping and US President Joe Biden will meet this week. They're expected to agree to limit the use of AI in nuclear weapons, a report said. AdvertisementAdvertisementUS President Joe Biden and his Chinese counterpart Xi Jinping are set to sign a deal limiting the use of artificial intelligence in nuclear weapon control systems, according to The South China Morning Post. Biden and Xi will pledge a deal limiting the use of AI in autonomous weaponry, such as drones, as well as the systems used for the control and deployment of nuclear warheads, the report said. Secretary of State Antony Blinken was asked last week about prospects the US and China could come to some understanding about keeping AI in nuclear weapons.

Persons: Xi Jinping, Joe Biden, They're, —, Xi, Biden, Vladimir Putin, Volodymyr Zelenskyy, Oriana Skylar Mastro, Stanford University's Freeman, Antony Blinken Organizations: Service, South China Morning Post, Economic Cooperation, White, Stanford, Stanford University's Freeman Spogli Institute for International Studies Locations: China, Asia, San Francisco, Ukraine, Russian, Israel, Beijing, Gaza, Hague, Bletchley Park, Japan

☆ Hamas militants had prepared for a 'second phase' of terrorist attacks in Israel, report says
▼ + stars: | 2023-11-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Hamas aimed to provoke a wider war with the October 7 terrorist attacks, a report said. AdvertisementAdvertisementHamas militants had prepared for a "second phase" of terrorist attacks in Israel in the hope of provoking a wider conflict in the Middle East, The Washington Post reported. Hamas militants wanted to reach into major Israeli cities and had plans for an incursion into the West Bank. On October 7, Hamas terrorist killed more than 1,200 people and abducted 240 more, Israeli authorities said. Israel launched waves of attacks on Gaza in the weeks following the attacks, which the Hamas-run Gaza health authorities said killed at least 11,000.

Persons: — Organizations: Washington Post, Service, The Washington Post, West Bank, The Locations: Israel, The, Gaza, Iran

☆ Construction progresses at Russian plant for Iranian drones - report
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

The White House, the Russian embassy and Iran's U.N. mission did not immediately respond to requests for comment. The report said a mid-September satellite image showed that new construction at the plant "directly" correlated with a leaked building floor plan that the Washington Post shared with the institute earlier this year. The satellite image also showed the construction of other structures and new security perimeters with checkpoints, the report said. Alabuga JSC is 66 percent owned by the federal government and 34 percent by the republic, the report said. The White House in June said Russia and Iran appeared to be deepening their defense cooperation and that in addition to supplying drones, Tehran was working with Moscow to produce Iranian drones in Alabuga.

Persons: Nuzhnenko, Iran's, Volodymr Zelenskiy, Jonathan Landay, Sandra Maler Organizations: Radio Free, Radio Liberty, REUTERS, Rights, JSC Alabuga, Institute for Science, International Security, Washington Post, Sunday, Alabuga JSC, House, Thomson Locations: Avdiivka, Ukraine, Donetsk region, Radio Free Europe, Russia, Moscow, United States, Russian, ., Washington, Tartarstan Republic, Iran, Tehran

☆ U.S., Indonesia to discuss potential for deal on EV minerals: Reuters, citing sources
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: +3 min

NORTH KONAWE, SOUTHEAST SULAWESI, INDONESIA - AUGUST 03: In this aerial view - A view of nickel mining site on August 3, 2023 in North Konawe, Southeast Sulawesi, Indonesia. Estimates from the U.S. Geological Survey (USGS) showed that global nickel production grew 21% in 2022 alone. Indonesia holds the world's largest nickel reserves and leverages those reserves to attract investment in the battery supply chain, a report by the Center for Strategic and International Studies said. Indonesia alone will account for roughly half of global nickel supply growth through to 2025. As of 2020, Indonesia has 292 nickel mining permits, mostly in Sulawesi, as the island hosts most of the national nickel reserves, the same CSIS report said.

Persons: Ulet Ifansasti, Ifansasti, Joko Widodo, Joe Biden, Biden, Katherine Tai Organizations: U.S . Geological Survey, Center for Strategic, International Studies, CSIS, Getty, White, U.S, . Trade Locations: SULAWESI, INDONESIA, North Konawe, Southeast Sulawesi, Indonesia, U.S, Sulawesi, Central Sulawesi Province, United States

☆ Construction Progresses at Russian Plant for Iranian Drones - Report
▼ + stars: | 2023-11-13 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

The report said a mid-September satellite image showed that new construction at the plant "directly" correlated with a leaked building floor plan that the Washington Post shared with the institute earlier this year. The satellite image also showed the construction of other structures and new security perimeters with checkpoints, the report said. "A key overdue step" is for Washington to sanction Alabuga and its associated companies, the report continued. Alabuga JSC is 66 percent owned by the federal government and 34 percent by the republic, the report said. The White House in June said Russia and Iran appeared to be deepening their defense cooperation and that in addition to supplying drones, Tehran was working with Moscow to produce Iranian drones in Alabuga.

Persons: Iran's, Volodymr Zelenskiy, Jonathan Landay, Sandra Maler Organizations: WASHINGTON, JSC Alabuga, Institute for Science, International Security, Washington Post, Sunday, Alabuga JSC, House Locations: Russia, Moscow, United States, Russian, ., Washington, Tartarstan Republic, Iran, Tehran

☆ China weighs ending freeze on Boeing purchases with 737 Max deal in US -Bloomberg News
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 12 (Reuters) - China is considering resuming purchases of Boeing's (BA.N) 737 Max aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter. Boeing is still waiting to resume deliveries of its bestselling 737 MAX to Chinese airlines more than four years after they were halted following two deadly crashes. The company had said that as of the end of June, about 90% of its 737 Max jets in China had resumed commercial operations. Boeing in September slightly increased its annual 20-year forecast for new plane deliveries to China, citing economic growth and increasing demand for domestic travel.

Persons: Gina Raimondo, Aly, Xi Jinping, planemaker, Gokul, Tom Hogue, Gerry Doyle Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Max, APEC, Bloomberg, Boeing, Reuters, U.S, Thomson Locations: Shanghai Pudong, Shanghai, China, U.S, Beijing, Washington, Bengaluru

☆ This EV battery stock has potential double-digit gains ahead. UBS thinks it could even surge 100%
▼ + stars: | 2023-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Nomura has a price target of 315 yuan — for an upside of nearly 67% from Friday's close. Even after trimming their price target on the buy-rated stock, the analysts have a price target of 266 yuan — just over 40% upside from Friday's close. They have a price target of 284 yuan, or 50% upside from Friday's close. More products coming to market The company already has just over a third of the global EV battery market, with more products on the way, according to Counterpoint Research. Li Auto, which reported record deliveries in October that beat out Tesla , is launching its first purely battery-powered vehicle in December — with a new CATL battery called Qilin.

Persons: That's, Nomura, CATL, FactSet, Peter Richardson, Li Auto, Tesla, — CNBC's Michael Bloom Organizations: Amperex Technology, BMW, Tesla, Union, HSBC, Revenue, VW, Mercedes, Benz, EV, Jefferies, Research, Chery, UBS Locations: Shenzhen, Friday's, EU, Thuringia, Hungary, —, Jiangxi

☆ BMW says it is looking into Morocco labour, environment issues after newspaper report
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

The headquarters of German luxury carmaker BMW is seen in Munich, Germany, August 5, 2020. BMW has contacted local supplier Managem with a range of queries and requested additional information, a spokesperson for the company told Reuters. By far the largest proportion of the world's cobalt deposits are located in the Congo, where child labour still occurs, particularly in small mines. BMW no longer sources cobalt from Congo, said the BMW spokesperson. Reporting by Christina Amann, writing by Vera Eckert, Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Dalder, Managem, Christina Amann, Vera Eckert, Hugh Lawson Organizations: BMW, REUTERS, Bayerische Motoren, FRANKFURT, Reuters, Managem, Daily, Sueddeutsche Zeitung, NDR, WDR, Thomson Locations: Munich, Germany, Moroccan, Morocco, Congo, Australia

Livent CEO Paul Graves will take the top job at the newly minted Arcadium Lithium, if Allkem shareholders vote for the deal on Dec. 19. Merging the two companies would create the world's third-largest lithium producer by volume with assets spanning Australia, Canada and Argentina. Graves has said that one of his first priorities would be expanding Arcadium's footprint in Western Australia's world-class lithium districts. Under the deal, Allkem shareholders will get one share in the combined entity for each of their shares and the company will ultimately own 56% of the new firm. Livent shareholders will get 2.406 shares in the new firm, which will be called Arcadium Lithium, for each existing share.

Persons: Arcadium, Paul Graves, Kroll, Chile's, Graves, Albemarle, Livent Corp, Livent, Allkem, Scott Murdoch, Melanie Burton, Robert Birsel Organizations: JV, SYDNEY, Albemarle Corp, Liontown Resources, Hancock, Livent, FMC Corp, Galaxy Resources, Thomson Locations: Australia, U.S, Canada, Argentina, Western Australia, Sydney, Melbourne

☆ The wildest moments of WeWork’s rise
▼ + stars: | 2023-11-11 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +8 min

And many early WeWork employees, who worked at lower salaries because they were given stock options, ended up with nothing. WeWork’s wild rise and fall is the latest high-profile incident to shatter that myth. Here is a look at four of the wildest moments from WeWork’s rise, according to the company’s statements and a best-seller about the company. (Part of WeWork’s push to appeal to millennials included free-flowing beer and open bars set up within its coworking outposts.) That pre-IPO paperworkThe beginning of the end can perhaps be traced back to WeWork’s first attempt to go public back in 2019.

Persons: New York CNN — WeWork, Adam Neumann’s, Neumann, Son, Adam Neumann, Kelly Sullivan, Eliot Brown, Maureen Farrell, millennials, Darryl McDaniels, Mike Segar, ”, Rebekah, WeWork, Caitlin Ochs, WeWork’s, Neuman, Mark Lennihan, “, Tolga Akmen Organizations: New, New York CNN, WeWork, San Francisco, of Fine Arts, Gulfstream G650, Wall Street Journal, Bloomberg, Getty, Nasdaq, City of Locations: New York, San, San Francisco , California, Israel, Manhattan , New York, WeGrow, WeLive, New York City, U.S, City, City of London, AFP

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