Author: Press Room
By Carman Chew SINGAPORE (Reuters) – Chilean President Gabriel Boric said on Thursday he would nationalise the country’s lithium industry and create a state-owned company to produce the metal that is a key component of electric vehicle batteries. Boric said future lithium contracts would only be issued as public-private partnerships with state control. Chile holds the world’s largest lithium reserves and is the world’s second-largest producer. Following are key details on the global lithium industry. PRODUCTION Lithium is currently produced from hard rock or brine mines. Australia is the world’s biggest supplier, with production from hard rock mines. Argentina, Chile…
By Jamie McGeever ORLANDO, Florida (Reuters) -Markets are struggling to disentangle their assumption the Federal Reserve will quickly reverse its final rate rise within months from anxiety around a summer debt ceiling showdown – and suspect rates pricing may be skewed by the latter. Policymakers have indicated, via their median ‘dot plot’ projections and public comments, that rates will likely stay high until the end of the year, yet futures markets are still betting they will be cut. One reason for the disconnect is the fear stress around the debt standoff will damage the economy and markets enough to force…
Summary Bank of America BAC , U.S. Bancorp TBBK and Wells Fargo WFC have a margin of safety currently. Charlie Munger (Trades, Portfolio), the renowned investor and chairman of Daily Journal DJCO Corp. (DJCO, Financial), disclosed his California-based publishing company’s first-quarter 2023 equity portfolio earlier this month. Also the vice chairman of Berkshire Hathaway BRK.B (BRK.A, Financial)(BRK.B, Financial), Munger is known for using his dry wit and keen mind when helping Warren Buffett (Trades, Portfolio) make investing decisions. He has developed a series of mental models that are framed as a latticework to help solve critical business problems. While Munger’s…
Note: ANF’s FY’22 ended on January 28, 2023. After a 34% decline in the last twelve months, at the current price of around $25 per share, we believe Abercrombie & Fitch’s stock (NYSE: ANF), a specialty retailer selling casual clothing and footwear – is fairly priced. ANF stock has declined from around $37 to $25 LTM, underperforming the broader indices, with the S&P falling about 7% over the same period. The company’s stock traded lower as anxiety over a potential recession, inflation, supply chain challenges, and soaring transportation costs have swept over the entire specialty retail sector. The retailer did…
Check out the companies making headlines in midday trading.CSX – The transportation stock jumped 3.7% after the company’s first-quarter results topped expectations. CSX reported earnings of 48 cents per share for the latest quarter, compared to a Refinitiv estimate of 43 cents per share. Revenue of $3.71 billion also beat Wall Street estimates.Pool – Shares of the pool company popped more than 3% after Stephens upgraded the stock to overweight from equal weight. The Wall Street firm said it sees an “attractive entry point” for the stock, calling the company “a best-in-class, high quality compounder.”Procter & Gamble – The stock…
Club holding Eli Lilly (LLY) expects U.S. health officials to make insurance reimbursement for Alzheimer’s drugs easier to obtain, a policy change that, in theory, would help them become more commercially successful. It would be a boon to Lilly for sure, which has a treatment for the disease in trials. But we don’t want to get ahead of ourselves before the company releases its latest Alzheimer’s trial data. In an interview with Reuters , Eli Lilly executive Derek Asay said the drugmaker believes the Centers for Medicare & Medicaid Services (CMS) will eventually drop its more-stringent insurance coverage rules for…
The 6G technology is almost certainly years away, but the administration’s effort is likely part of a bid to beat China and re-establish the US as a leader in wireless connectivity, as well as to carefully plan for new technologies that will be essential to national security and the broader economy.”It’s imperative that we start to look at these issues early,” a security official for the Biden administration said during a press call on Thursday evening.The White House wants to “take the lessons learned from 5G about the importance of early involvement and resilience,” the official said, and apply that…
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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.San Francisco, United States, April 21st, 2023, ChainwireIntroducing Flow: The Game-Changing NFT Ecosystem Set to Revolutionize the NFT Market. Aggregator Beta Launches on Ethereum Mainnet. Groundbreaking AI and Rollup-Centric Roadmap Unveiled; Anticipated Token Launch on April 30.Flow’s aggregator makes NFT bidding a breeze with their groundbreaking “place bid once, buy from everywhere” technology. Flow’s powerful order matching and execution engines provide users a great UX while protecting them from frontrunners and unnecessary gas fees by routing transactions via Flashbots. With…
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