2023-05-17 16:00:00
(Illustration: Camille Charbonneau)
NEWS ESSENTIALS
• Biden and McCarthy hope for an agreement on raising the debt ceiling. Democratic President Joe Biden and Republican Kevin McCarthy have moved closer to a deal to avoid a US debt default, as the threat of an economic nightmare prompted Biden to cut short a trip to Asia this week.
• Target predicts a sluggish second quarter, consumers are cautious. Target reported second-quarter earnings that fell short of Wall Street expectations and slumped sales as consumers, squeezed by persistently higher prices, shied away from buying non-essentials such as electronics and accessories. household items.
• Hydrogen and carbon capture: Chevron and Exxon want Australia’s help. Chevron and Exxon Mobil, the two largest US fossil fuel companies, are seeking Australian support for carbon capture and storage (CCS) and hydrogen projects to increase investment in the goal of reducing carbon emissions intensity.
• LSEG: the Blackstone–Thomson Archyde.com consortium sells $3.4 billion in shares at a discount. The consortium of investors including the American private investment firm Blackstone and Thomson Archyde.com has sold 33 million shares of London Stock Exchange Group (LSEG) for a value of around 2.7 billion pounds, according to what said a stockbroker.
• US: authorities lift a major obstacle to the Thacker Pass lithium project. The US Department of the Interior lifted one of the last hurdles at Lithium Americas’ proposed Thacker Pass mine in Nevada on Tuesday, finding that nearly all of the site contains the metal used to make batteries for electric vehicles. .
TRENDS BEFORE OPENING
Futures contracts for the main Canadian stock index are slightly ahead, following the trend observed on Wall Street. European stocks are in decline following the publication of many disappointing results, which hurt investor sentiment. The Japanese Nikkei finished above the 30,000 mark for the first time since September 2021. Oil prices are slightly ahead despite an unexpected rise in US crude inventories. Gold prices are down as the U.S. dollar gains ground following recent comments from U.S. Federal Reserve officials pushing back possible rate cuts.
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TITLES TO FOLLOW
• Lithium Americas: The U.S. Department of the Interior on Tuesday cleared one of the last hurdles at Lithium Americas’ Thacker Pass mine project in Nevada, finding that nearly the entire site contains the metal used to make batteries for electric vehicles . In February, a federal judge dismissed claims that the Thacker Pass project would cause unnecessary environmental damage, but ordered authorities to investigate whether the roughly 1,300-acre site where Lithium Americas hopes to store waste rock — a by-product of the mining process — contained the metal. The decision is being appealed, but the court has allowed construction to begin.
• Thomson Archyde.com: the consortium of investors including the American private investment firm Blackstone and Thomson Archyde.com has sold 33 million shares of London Stock Exchange Group (LSEG) for a value of around 2.7 billion pounds, according to what said a stockbroker. The share placement, which was increased from the original 28 million, was priced at 8,050 pence per share, a discount of around 5% to the stock’s last closing price. steps. “The balance of approximately 5.1 million ordinary voting shares held indirectly by Blackstone and Thomson Archyde.com that have not been sold in connection with the placement or the retail offer are subject to a 90 days,” said Barclays, one of the investment banks handling the sale.
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