2023-09-25 15:14:01
(Illustration: Camille Charbonneau)
THE ESSENTIAL NEWS
• Ford says there remain “significant gaps” in negotiations with the UAW. Ford Motor said that despite progress in some areas, it still had “significant gaps to fill” on key economic issues before it might reach a new labor agreement with the auto workers union ( United Auto Workers).
• Sumitomo Metal invests in Canadian company Nano One Materials to collaborate on the manufacturing of battery materials. Japan’s Sumitomo Metal Mining said it would invest C$16.9 million in Canadian battery materials company Nano One Materials to collaborate on developing technology to manufacture these materials.
• Striking Hollywood screenwriters reach tentative deal with studios. Hollywood’s screenwriters’ union reached a preliminary deal with major studios on Sunday that is expected to end one of two strikes that have halted most film and television production and cost the California economy billions of dollars. .
• SEC collects Wall Street’s private messages as WhatsApp investigation intensifies – sources. The U.S. securities regulator has collected thousands of personal messages from more than a dozen major investment firms, intensifying its investigation into Wall Street’s use of private messaging apps, four people said. having direct knowledge of the matter.
• Amazon is stepping up its race for artificial intelligence by investing up to $4 billion in Anthropic. Amazon.com said it would invest up to $4 billion in cash in high-profile startup Anthropic as it seeks to compete with its growing artificial intelligence rivals. .
TRENDS BEFORE OPENING
Futures contracts for the main Canadian stock index ended slightly lower due to lower metal prices. Wall Street Futures also fell as investors await new economic data and comments from the Federal Reserve. European stocks fell during a volatile session, while the fragility of securities exposed to Chinese activity weighed negatively on the index STOXX 600. The Nikkei Japanese rose sharply to finish higher as investors bought back shares on the cheap. L’or finished lower while the American dollar has strengthened due to the shared feeling that interest rates will remain high for some time to come. THE oil price rose as investors expected tight supply prospects following temporary export curbs put in place by Moscow.
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HEADLINES TO FOLLOW
• Nano One Materials: Japan’s Sumitomo Metal Mining said it will invest C$16.9 million in Canadian battery materials company Nano One Materials to collaborate on developing manufacturing technology of these materials. The move comes following Japan and Canada agreed to work more closely together to build sustainable and reliable global battery supply chains. With this investment, Sumitomo Metal will own approximately 5% of Nano One, which has patented processes for the sustainable production of cathode materials for lithium-ion batteries, reducing process complexity and costs compared to the technology current, the Japanese mining and smelting company said in a statement. The two companies will work together to develop manufacturing technology for battery cathode materials for EVs at lower cost and environmental impact, it added.
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