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☆ UAW strike: Biden, Trump seek blue-collar votes in swing state Michigan
▼ + stars: | 2023-09-26 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

President Joe Biden is expected to visit a picket line Tuesday in the Great Lake State following a public invitation Friday from UAW President Shawn Fain. UAW members Niko Shinn (front) and Darius Collier (back) walk a picket line on Sept. 25, 2023 outside a Mopar facility owned by automaker Stellantis in Centerline. Fain has appeared with the independent senator from Vermont in Washington, D.C., and during a recent UAW rally in Detroit. Trump led Biden 46% to 43% among union members in an August survey, after Biden led Trump 51 % to 42% in June, according to Bernie Porn, president of EPIC·MRA. "With union members, he has been so supportive of just about everything that union members want.

Persons: Rebecca Cook, Joe Biden, Shawn Fain, Donald Trump, Leah Millis, Trump, Darius Collier, Collier, Stellantis, They've, Biden, Fain, Mark Burton, Gretchen Whitmer, Niko Shinn, Michael Wayland, Whitmer, Debbie Dingell, Sen, Bernie Sanders, Sanders, Fain's, who's, Bernie Porn, Trump's, Jamie Roe, Scott Olson Organizations: GM, United Auto Workers, Louisville Kentucky, Reuters DETROIT, General Motors, Ford Motor, Air Force, Joint Base Andrews, Reuters Biden, Biden, Trump, White, UAW, Michigan Gov, Democrat, Stellantis, CNBC Michigan, U.S . Rep, Washington , D.C, Detroit automakers, GOP, Trump's, Drake Enterprises, Republican, Plant, Getty Locations: Louisville, Detroit , Michigan, Michigan, Great Lake State, Clinton Township , Michigan, U.S, Joint Base Andrews , Maryland, . Michigan, Vermont, Washington ,, Detroit, Macomb County , Michigan, United States, Ford's Wayne, Wayne , Michigan

She cited unpublished information from Vietnam's Ministry of Natural Resources and Environment, which did not respond to requests for comment. In recent years, Japanese investors Toyota Tsusho and Sojitz abandoned projects at Dong Pao after China ramped up supply, pummelling prices. Reuters GraphicsStill, rare earths at Dong Pao are relatively easy to access and are mostly concentrated in bastnaesite ores, according to the Hanoi University of Mining and Geology. The plant has capacity to process 5,000 tons of REO a year but the company plans to treble that to accommodate input from Dong Pao, Tuan said. The metallization process is controlled by China, which produces 90% of rare-earth metals, according to the U.S. Department of Energy.

Persons: Dong Pao, Blackstone, VTRE, Tessa Kutscher, Anh Tuan, Joe Biden, Kutscher, Sojitz, Dylan Kelly, Vingroup, Rivian, Dong, Tuan, David Merriman, John Rockhold, Dudley Kingsnorth, Francesco Guarascio @fraguarascio, Khanh, Melanie Burton, Trevor Hunnicutt, Mai Nguyen, Phuong, David Crawshaw Organizations: REUTERS, Australia's Blackstone Minerals Ltd, Vietnam's Ministry of Natural Resources, Earth JSC, U.S, . Geological Survey, Reuters, Toyota, Terra Capital, Blackstone, Hanoi University of Mining, REO, White House, Department of Commerce, U.S . Chamber of Commerce, Strategic, ASM, Reuters Graphics Reuters, U.S . Department of Energy, Western Australian School of Mines, Curtin University, Thomson Locations: Nam, Lai Chau, Vietnam, Pao, HANOI, Dong, Beijing, China, Hanoi, U.S, Dong Pao, VTRE, South, Khanh Vu, Melbourne, Seoul, Washington, Phuong Nguyen

☆ Q4 could be choppy and disappointing on growth: Goldman Sachs' Elizabeth Burton
▼ + stars: | 2023-09-25 | 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 EmailQ4 could be choppy and disappointing on growth: Goldman Sachs' Elizabeth BurtonElizabeth Burton, client investment strategist with Goldman Sachs Asset Management, joins 'Closing Bell' to discuss her view on the market setup, opportunities for portfolio diversification, and more.

Persons: Goldman Sachs, Elizabeth Burton Elizabeth Burton Organizations: Goldman Sachs Asset Management

SEATTLE (AP) — A Seattle police officer has been placed on administrative leave after Seattle Police Chief Adrian Diaz said Friday he listened to an audio recording including comments by the officer that led to the filing of a bias/hate complaint. “As I have said from the beginning of my tenure as Chief of Police, racist comments and behavior by department employees will not be tolerated,” Diaz's statement said. The statement comes after a story Friday in the The Stranger newspaper with audio of Seattle Police Officer Burton Hill calling his Asian American neighbor racist and sexists slurs during an argument in their suburban Seattle condominium complex in 2022. The commission wrote a letter to Diaz calling for the suspension of Officer Daniel Auderer, the vice president of the Seattle Police Officers Guild. Auderer is under investigation for comments he made that were captured by Auderer’s body camera during an investigation into the death of 23-year-old Jaahnavi Kandula.

Persons: Adrian Diaz, Burton Hill, Hill, Diaz, Daniel Auderer, Auderer, Kandula, Kevin, Diaz “, “, ” Diaz, Hill's, ” Organizations: SEATTLE, Seattle police, Seattle Police, Police, city's, Associated Press, Seattle’s Community Police Commission, King, Attorney’s, Community Police Locations: Seattle, India

☆ Why Hasan Minhaj’s fabrications could invalidate real accounts of racism and Islamophobia
▼ + stars: | 2023-09-21 | by ( Brahmjot Kaur | ) www.cnbc.com time to read: +7 min

Many are saying they are worried Minhaj's fabrications could invalidate people's accounts of actual racism and Islamophobia. People can stereotype and say, 'Oh, look, that South Asian comedian lied. Vishal Kalyanasundaram, a South Asian comedian, said he can understand the backlash but believes it shouldn't be such a big deal. "Just because he's South Asian doesn't mean he's the golden child and the voice for our people. Nylah Burton, a freelance journalist, also defended Minhaj, recognizing that the comedy industry is difficult to break into, especially for a South Asian Muslim comedian.

Persons: Hasan Minhaj, Lakshmi Srinivas, Minhaj, Brother Eric, Srinivas, He's, Sarah Suzuki Harvard, Harvard, Vishal Kalyanasundaram, it's, Kalyanasundaram, Nylah Burton Organizations: University of Massachusetts, Yorker, Netflix, NBC Asian, NBC News, FBI, Hollywood, NBC, Harvard, Twitter Locations: Boston, NBC Asian America, Asian

☆ England women, FA reach agreement over bonuses, says Bright
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +3 min

The squad had initially paused discussions ahead of the Women's World Cup, where England finished runners-up after losing the final to Spain. But the FA's decision not to offer the England team bonus payments on top of the fees they will earn from FIFA had been a bone of contention in the build-up to the tournament. FIFA had announced a financial contribution specifically earmarked for all World Cup players, which meant the allocation per England squad member was $195,000 as they were runners-up. England manager Sarina Wiegman said she was expecting the agreement and looked forward to turning attention back to football. "The conversations had been going really well but the World Cup was ahead of us, so they needed to stop and then start up after the World Cup," she said.

Persons: Millie Bright, John Sibley, Bright, Leah Williamson, We've, We're, Sarina Wiegman, Rohith Nair, Ken Ferris Organizations: Soccer, UEFA Nations League, England Press, England, Football Association, Friday's Nations League, Scotland, FIFA, Reuters, Association, World, FA, Thomson Locations: George's, Burton, Trent, Britain, Spain, England, Bengaluru

☆ San Francisco Lives, Despite Reports to the Contrary: A Traveler’s Guide
▼ + stars: | 2023-09-20 | by ( Tara Isabella Burton | Photographs Soraya Matos For The Wall Street Journal | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/lifestyle/travel/san-francisco-lives-despite-reports-to-the-contrary-a-travelers-guide-a5054a14

Persons: Dow Jones

☆ Goalkeeper Earps wins England Women's Player of the Year
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO:Soccer Football - Women's UEFA Nations League - England Training - St George's Park, Burton upon Trent, Britain - September 19, 2023 England's Mary Earps after training Action Images via Reuters/Andrew Couldridge/File Photo Acquire Licensing RightsSept 20 (Reuters) - Goalkeeper Mary Earps was voted England's Women's Player of the Year on Tuesday. The 30-year-old, who won FIFA's Golden Glove award at the Women's World Cup in Australia and New Zealand, finished ahead of Lucy Bronze and Alex Greenwood in the voting. Earps has 41 caps since making her senior debut in 2017 and was a key player for the Lionesses in their run to the World Cup final, where they lost 1-0 to Spain. "Wow, feel so humbled and grateful to be named England Women's Player of the Year! Thank you to everyone that voted for me and thank you to my incredible team mates," Earps said on Instagram.

Persons: Mary Earps, Andrew Couldridge, Lucy Bronze, Alex Greenwood, Earps, Pearl Josephine Nazare, Peter Rutherford Organizations: UEFA Nations League, England, Thomson Locations: George's, Burton, Trent, Britain, Australia, New Zealand, Spain, Instagram, England, Netherlands, Bengaluru

☆ Microsoft's Xbox plans revealed in emails tied to FTC case
▼ + stars: | 2023-09-19 | by ( Kevin Collier | ) www.cnbc.com time to read: +2 min

An attorney with the Federal Trade Commission (FTC) carries an XBOX game console box following a hearing at the Phillip Burton Federal Building and U.S. A huge collection of purported Xbox files related to the Federal Trade Commission's case against Microsoft have been published online, spilling some of the company's plans for the gaming console into public view. They include more than 100 documents, many of them partially redacted, related to Microsoft's Xbox plans. The files include emails from corporate executives like Microsoft Gaming CEO Phil Spencer and timetables for gaming releases. Some of the documents include Microsoft Gaming senior employees discussing the value of the exclusive hold they have on key video game titles.

Persons: Phillip Burton, Douglas Farrar, Phil Spencer, It's Organizations: Federal Trade Commission, Phillip Burton Federal Building, Federal Trade, Microsoft, U.S, Northern, Northern District of, Activision Blizzard, NBC News, Microsoft Gaming, Sony, Elder Locations: San Francisco , California, Northern District, Northern District of California

☆ Indexing Is Still the Best Bet for Investors
▼ + stars: | 2023-09-14 | by ( Burton G. Malkiel | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Images: Zuma Press/EPA/Shutterstock Composite: Mark KellyActive portfolio managers claim that agile stock picking is the best way to invest. Many have lately argued that simple indexing is a bad strategy in today’s environment because the stock market is dangerously “narrow.” Seven stocks—Alphabet, Amazon , Apple , Meta , Microsoft , Nvidia and Tesla—constitute close to 20% of the S&P 500’s value and have been responsible for almost 90% of the index’s gains this year. Now these “Magnificent Seven” are beginning to falter. The simple index investor, the active managers warn, will soon be overly concentrated in a small number of stocks that are overpriced and have been hyped by the promise of artificial intelligence.

Persons: Kim Strassel, Kyle Peterson, Dan Henninger, Kelly Organizations: Zuma Press, Apple, Meta, Microsoft, Nvidia, Tesla

☆ Tim Burton hits out at ‘disturbing’ AI, likens it to a robot ‘taking’ your soul
▼ + stars: | 2023-09-12 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Tim Burton has hit out at “disturbing” artificial intelligence (AI), comparing its use in imitating his distinctive style as “like a robot taking your humanity, your soul.”The prolific director behind movies “Edward Scissorhands,” “Corpse Bride” and “Beetlejuice” made the comments during an interview with British newspaper The Independent at the weekend. He was referencing an article by Buzzfeed that had used AI to reimagine Disney character as if they were in one of his movies. It’s like a robot taking your humanity, your soul.”Michael Keaton and Winona Ryder starred in Tim Burton's 1988 movie "Beetlejuice." Geffen/Warner Bros/Kobal/ShutterstockThe potential consequences of using AI are among the central issues driving the ongoing actors’ and writers’ strikes which have halted production in Hollywood. SAG-AFTRA, the actors union which represents about 160,000 members, has been on strike since July.

Persons: Tim Burton, Edward Scissorhands, ”, Buzzfeed, ” Burton, ” Michael Keaton, Winona Ryder, Tim Burton's, Geffen, ’, John August, “ Organizations: CNN, British, Independent, Warner Bros, Hollywood, SAG

The network said that the show would be returning on Sept. 18 without written material that is “covered by the W.G.A. strike,” a similar approach to that taken by “The View,” which began airing episodes from its new season this month, circumventing union writers. Barrymore, who had stepped down as the host of the MTV Movie and TV Awards in May in solidarity with the striking Hollywood writers, was greeted by a wave of critical backlash online after the decision to go back on air. Representatives for Barrymore and her show did not immediately respond to requests for comment. Recent hosts include the author and TV host Padma Lakshmi, the author and comedian Phoebe Robinson, and actors like LeVar Burton, Nick Offerman and Cynthia Nixon.

Persons: Barrymore, ”, Colson Whitehead, gestured, Ms, Padma Lakshmi, Phoebe Robinson, LeVar Burton, Nick Offerman, Cynthia Nixon Organizations: MTV Locations: United States

☆ Ionic Rare Earths ties with Ford in Belfast magnet recycling venture
▼ + stars: | 2023-09-12 | by ( Melanie Burton | ) www.reuters.com time to read: +2 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsMELBOURNE, Sept 12 (Reuters) - Ionic Rare Earths (IXR.AX) said on Tuesday it has received UK government investment to build a commercial rare earth magnet recycling facility in Belfast that will supply Ford's (F.N) electric vehicle production facilities in the country. The UK government will support the partnership with an investment of £2 million ($2.50 million) as part of its push to support circular economy magnet rare earths, as the West diversifies supply chains away from China which produces almost all the world's magnet supply. Rare earths are the most magnetic of all metals, used in applications from wind farms to EVs to defence. To support production at this facility there will be a requirement for over 600 tonnes of magnet raw material per annum, it said in the release.

Persons: Phil Noble, Simon Palmer, Ford, Melanie Burton, Michael Perry Organizations: Ford, REUTERS, Rights, Metals, Ford’s European Union, Thomson Locations: Liverpool, Britain, Belfast, China

Anwar said the government would support the development of the rare earths industry in Malaysia and that a ban would "guarantee maximum returns for the country". The rare earth industry is expected to contribute as much as 9.5 billion ringgit ($2 billion) to the country's gross domestic product in 2025 and create nearly 7,000 job opportunities, Anwar said in parliament. "Detailed mapping of rare earth element sources and a comprehensive business model that combines upstream, midstream and downstream industries will be developed to maintain the rare earth value chain in the country," he said. The curbs triggered fears that China could also limit exports of other critical minerals including rare earths. Australia's Lynas Rare Earths Ltd (LYC.AX), the biggest producer of rare earths outside China, has a plant in Malaysia to process concentrate that it gets in Australia.

Persons: Anwar Ibrahim, Yasuyoshi, Anwar, David Merriman, Merriman, Mai Nguyen, Rozanna, Melanie Burton, Amy Lv, Edwina Gibbs, David Holmes Organizations: Malaysia's, China, ASEAN Summit, United States Geological Survey, Thomson Locations: ASEAN, Jakarta, Indonesia, KUALA LUMPUR, Malaysia, China, midstream, Malaysian, Australia, Kuala Lumpur, Mai, Hanoi, Melbourne, Beijing

☆ Sarah Burton Exits Alexander McQueen
▼ + stars: | 2023-09-11 | by ( Elizabeth Paton | More About Elizabeth Paton | ) www.nytimes.com time to read: +3 min

Ms. Burton, then its head of women’s wear, had been working with Mr. McQueen since 1996, when she started at his label as an intern after graduating from Central Saint Martins, the design school in London. Within a year of her succeeding Mr. McQueen as the brand’s creative director, Ms. Burton created the Princess of Wales’s ivory lace wedding gown, which became more famous than any dress designed by Mr. McQueen. Ms. Burton, who rose to lead a fashion house in an industry still largely dominated by men, helped Alexander McQueen evolve from a label beloved by fashion superfans into a modern luxury powerhouse. Kering, which bought a 51 percent stake in Alexander McQueen in 2001, is also reconfiguring its organization and its assets. The conglomerate has appointed Maureen Chiquet, a former chief executive at Chanel, to its board of directors and has named Francesca Bellettini, the chief executive of Saint Laurent, as the deputy chief executive of Kering’s portfolio of brands.

Persons: Burton, McQueen, Ms, . McQueen, Prince Harry’s, Meghan Markle, Queen Elizabeth II, Alexander McQueen, “, Sarah, ” François, Henri Pinault, Burton’s, Gabriela Hearst’s, Jeremy Scott’s, Alessandro Michele’s, Maureen Chiquet, Francesca Bellettini, Saint, Pinault Organizations: Central Saint Martins, Gucci, New York, Creative Artists Agency Locations: London, Chloé, Moschino, China, Saint Laurent, Hollywood, Valentino

☆ Tim Burton says AI imitations of his art style are missing 'humanity' and 'soul' — even if the results are 'pretty good'
▼ + stars: | 2023-09-11 | by ( Haley Tenore | ) www.businessinsider.com time to read: +4 min

Tim Burton said AI art generators' imitations of his work felt soulless and lacked "humanity." He was referring to a BuzzFeed article that used AI to give Disney characters a Tim Burton makeover. Someone online prompts an AI art generator to imagine what a Wes Anderson version of "Star Wars" would look like, or Disney characters in the spooky style of Tim Burton. This BuzzFeed article features dark and creepy versions of Disney characters, like Elsa from Frozen. In an interesting twist, a federal judge recently ruled that AI artwork is not able to be copyrighted, according to The Hollywood Reporter.

Persons: Tim Burton, Wes Anderson, Burton, Elsa, Tim Burton's, Marvel Organizations: Disney, Service, Independent, The, Marvel, Hollywood Locations: Wall, Silicon, Colorado

TUSCALOOSA, Ala. (AP) — Quinn Ewers finished what he started last season, passing for 349 yards and three touchdowns to lead No. 11 Texas to a 34-24 victory over third-ranked Alabama on Saturday night in a huge win for a program trying to climb back into national championship contention. This amounted to a welcome-to-the-Southeastern Conference moment for a program set to join Alabama & Co. next season. Alabama had its 21-game home winning streak snapped along with a 57-game regular-season binge against nonconference teams dating to Nick Saban's debut season, 2007. Alabama's Jalen Milroe delivered big plays passing and running, but also was picked off twice on bad decisions.

Persons: — Quinn Ewers, Steve Sarkisian, Adonai Mitchell, ” Sarkisian, Nick Saban's, Mitchell, ‘, ‘ Bama —, parlayed, they’re, ” Ewers, Ja'Tavion Sanders, Jalen Milroe, Milroe, Jermaine Burton —, Georgia —, Ewers, Sanders, Jerrin Thompson, Jonathon Brooks, Bama, Niblack, Milroe's Organizations: Alabama, Longhorns, Southeastern, Co, Crimson Tide, ‘ Bama, Tide, Ohio State, SEC, Georgia, South Florida, AP Locations: TUSCALOOSA, Ala, Texas, Georgia, Alabama, Tuscaloosa, UP, Wyoming, . Alabama, South

☆ Insider Today: IPOs' make-or-break moment
▼ + stars: | 2023-09-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Speaking of fighting, the IPO market has been KO'd since 2022. But that could change with one company's upcoming public debut. Even if it slightly misses those numbers, it'll still be the largest public debut in the US since Rivian's IPO in late 2021. The stock market recovered in record time, but then something else held up IPOs: VC money. Tech has already led the stock market for about a decade — starting when Apple became the biggest company in the world.

Persons: Mark Zuckerberg, Phil Rosen, IPOs, Andrew Burton, Brent, Gabe Ginsberg, Tony Avelar, Mustafa Suleyman, It'll, Arantza Pena Popo, Insider's Eliza Relman, Vivek Murthy, Lovell, Christian Lovell, Freddie, Lil Wayne, Buster's, Elaine LaLanne, She's, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Apple, Publishing, Getty, Bloomberg, Cash, Google, Nvidia, Getty Images, Tech, US, BMI Locations: Wall, Silicon, British, Russia, Saudi Arabia, China, London, New York City, San Diego, New York

☆ BHP says Brazilian court approves Samarco debt reorganisation plan
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Melanie Burton/File Photo Acquire Licensing RightsSept 4 (Reuters) - Australian mining giant BHP (BHP.AX) said on Monday a Brazilian court had approved the reorganisation plan for its Samarco joint venture, clearing the path for the cash-strapped Brazilian miner to move ahead with a $3.7 billion debt restructuring. On Sept. 1, the Second Business Court of Belo Horizonte, State of Minas Gerais, formalised Samarco's restructuring plan as part of the ongoing proceedings, BHP said. The reorganisation plan for Samarco, an iron ore miner that is 50% owned by BHP and 50% by Vale (VALE3.SA), allows for the Brazilian miner's existing financial debt to be exchanged for up to $3.7 billion of long-term unsecured debt, BHP said. "The new long-term debt will remain non-recourse to Samarco's shareholders, BHP Brasil and Vale," BHP said in a statement. Samarco, Vale, BHP Brazil, and the federal government of Brazil alongside other public authorities established the Renova Foundation to bring to force socio-economic programs to provide compensation for damage caused by the Samarco dam failure.

Persons: Melanie Burton, BHP, Roushni Nair, Paul Simao, Rosalba O'Brien, Jamie Freed Organizations: BHP Group, REUTERS, Business, Belo, BHP, Vale, BHP Brasil, Samarco, Renova Foundation, Thomson Locations: Perth, Australia, Belo Horizonte, State, Minas Gerais, VALE3, Vale, BHP Brazil, Brazil, Bengaluru

A worker walks near conveyer belts loaded with iron ore at the Fortescue Solomon iron ore mine located in the Valley of the Kings, around 400 km (248 miles) south of Port Hedland in the Pilbara region of Western Australia December 2, 2013. The world's fourth-largest iron ore miner, which has been beset by senior management turnover over the past two years, earlier in the day announced the resignation of its metals division head and co-CEO Fiona Hick. Fortescue shares, up nearly 2.1% so far this year, fell as much as 6% to A$19.7 by 0200 GMT. A review of its assets at the company's Iron Bridge project resulted in a pre-tax impairment charge of $1 billion. The company said rising interest rates and industry-wide inflation had fuelled the asset write-down at its Iron Bridge project, a major plank in the group's growth strategy.

Persons: Fortescue Solomon, David Gray, Australia's Fortescue, Fiona Hick, Fortescue, Echha Jain, Roushni Nair, Rashmi Organizations: REUTERS, Metals, Fortescue Future Industries, Fortescue Energy, Gibson, Phoenix Hydrogen, Thomson Locations: Port Hedland, Pilbara, Western Australia, Australia, Bengaluru

☆ Rich History, Dizzying Beauty: The Sicilian City Where Aimless Wandering Is the Point
▼ + stars: | 2023-08-25 | by ( Tara Isabella Burton | ) www.wsj.com time to read: 1 min

THE SUN was setting as I made my way past tombs and ruins toward the ancient amphitheater for the night’s performance. By this point, my third day in Sicily, I was prepared to be taken back in time. The show, Euripides’ “Iphigenia in Tauris” was written in the 5th century B.C., roughly when the theater might have been completed. The scalding summertime heat of the Italian island had at last receded and the smell of jasmine and bougainvillea filled the air as I took my seat.

Persons: Euripides ’ “, Tauris ” Locations: Sicily, Tauris

☆ Former New Zealand prime minister ordered to pay $3.9 million after company collapse
▼ + stars: | 2023-08-25 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

Former New Zealand Prime Minister Jenny Shipley addresses party supporters as husband Burton looks on after conceding victory to the Labour Party leader Helen Clark in Methven, November 27, 1999./File Photo Acquire Licensing RightsWELLINGTON, Aug 25 (Reuters) - New Zealand's highest court has ordered former New Zealand Prime Minister Jenny Shipley to pay NZ$6.6 million ($3.9 million) plus interest as compensation for her role in the collapse of a construction company, a judgement released on Friday said. Shipley was New Zealand’s first female prime minister holding the role from 1997 to 1999. In the judgement, the court ordered the four directors to contribute NZ$39.8 million plus interest to Mainzeal creditors. It stated Yan was most culpable and said he was responsible for the entire amount of compensation, with Shipley, Tilby and Gromm’s liabilities capped at NZ$6.6 million and interest each. ($1 = 1.6883 New Zealand dollars)Reporting by Lucy Craymer; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Jenny Shipley, Burton, Helen Clark, Shipley, New Zealand’s, Richard Yan, Clive Tilby, Peter Gromm, Yan, Gromm, Yan's, Andrew McKay, Lucy Craymer, Lincoln Organizations: New Zealand, Labour Party, Rights, NZ, Supreme, Zealand, Thomson Locations: Methven, New, Shipley, Tilby, Mainzeal

☆ Analysis-Lithium buyers eye cheaper early-stage deals in Australia
▼ + stars: | 2023-08-22 | by ( Melanie Burton | Scott Murdoch | ) www.reuters.com time to read: +6 min

So I think there’s going to be some opportunistic acquisitions.”There is already evidence of frenzied deal activity involving pre-producing companies. Develop Global, a base metals explorer backed by diversified miner Mineral Resources, last month proposed to acquire lithium developer Essential Metals for A$152.6 million ($97.98 million). “Even though battery chemistry is evolving and impacting certain metals, lithium is a mainstay and the demand story remains robust. The battery metals landscape, and lithium in particular, looks poised for further M&A activity,” said Gavi Friedland, head of metals and mining at Goldman Sachs in Australia & New Zealand. Mineral Resources is deciding whether to build an Australian lithium battery chemical plant, while Albemarle is expanding production at its Kemerton hydroxide plant and SQM is also building a lithium hydroxide plant.

Persons: Ivan Alvarado, acquirers, ”, Kaan, “, Gavi Friedland, Goldman Sachs, Guy Alexander, Buyers, Japan’s Idemitsu, Delta, Tony Chong, Squire Patton Boggs, Jakob Stausholm, Stausholm, ” Dale Henderson Organizations: MELBOURNE, REUTERS, Chile, Albemarle Corp, RBC, Develop, Mineral Resources, Metals, Minerals, Liontown Resources, Climate Capital, Consultancy, EV, Goldman, New Zealand, Resources, ”, Rio Tinto, Patriot Metals, Canada, Reuters Locations: Albemarle Chile, Chile, Australia, Sydney, Andover, Albemarle, Perth, China, U.S, Rio, Canada, Quebec

[1/2] A general view shows the brine pools of Albemarle Chile lithium plant placed on the Atacama salt flat, Chile, May 4, 2023. "It seems like the cheapest way to get lithium units is via the drill bit," said analyst Kaan Peker of RBC in Sydney. "Even though battery chemistry is evolving and impacting certain metals, lithium is a mainstay and the demand story remains robust. The battery metals landscape, and lithium in particular, looks poised for further M&A activity,” said Gavi Friedland, head of metals and mining at Goldman Sachs in Australia & New Zealand. Mineral Resources is deciding whether to build an Australian lithium battery chemical plant, while Albemarle is expanding production at its Kemerton hydroxide plant and SQM is also building a lithium hydroxide plant.

Persons: Ivan Alvarado, acquirers, Kaan, ”, Gavi Friedland, Goldman Sachs, Guy Alexander, Buyers, Japan's Idemitsu, Delta, Tony Chong, Squire Patton Boggs, Jakob Stausholm, Stausholm, Dale Henderson, Melanie Burton, Veronica Brown Organizations: REUTERS, Chile, Albemarle Corp, RBC, Develop, Mineral Resources, Metals, Minerals, Liontown Resources, Climate Capital, Consultancy, EV, Goldman, New Zealand, Resources, Tinto, Patriot Metals, Canada, Reuters, Thomson Locations: Albemarle Chile, Chile, MELBOURNE, Australia, Sydney, Andover, Albemarle, Perth, China, U.S, Canada, Quebec

☆ BHP sees China demand bright spots, logs 37% profit drop
▼ + stars: | 2023-08-21 | by ( Melanie Burton | Sameer Manekar | ) www.reuters.com time to read: +4 min

A small toy figure and mineral imitation are seen in front of the BHP logo in this illustration taken November 19, 2021. Western demand for commodities on the other hand has been seen hurt by the lagging impact of interest rate hikes. “You can’t deny that commodity prices have come off a fair bit from where they were, (but) they are still pretty healthy, the iron ore price in particular,” Forster said. Inflation is also expected to raise the floor for commodities prices, including copper and iron ore, BHP said, seeing prices for the latter trade around $80-$100 a ton. BHP produces iron ore in Western Australia for $17.79 a ton.

Persons: Dado Ruvic, Mike Henry, BHP, Andy Forster, ” Forster, “ Capex, That’s, Jansen, Henry Organizations: MELBOURNE, BHP Group, BHP, REUTERS, Macquarie, Argo Investments, Oz Minerals Locations: China, India, Australia, Canada, Western Australia

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