Business

World’s largest miners pledge net zero carbon emissions by 2050

The world’s top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. “ICMM members’ collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our […]

Business

Nvidia offers EU concessions over $54 billion Arm deal

Nvidia (NVDA.O) has offered concessions in a bid to secure EU antitrust approval for its $54 billion acquisition of British chip designer Arm, a European Commission filing showed on Wednesday. The deal announced by world’s biggest maker of graphics and AI chips last year has sparked concerns in the semiconductor industry over whether Arm could […]

Business

BMW invests in lithium technology startup Lilac Solutions

BMW (BMWG.DE) said on Wednesday it will invest in lithium technology startup Lilac Solutions Inc to support more-efficient ways to produce the electric vehicle battery metal. Privately-held Lilac is part of a growing number of technology developers seeking to extract lithium from saltwater brines faster, cheaper and with less water than evaporation ponds, which have […]

Business

Gas price explosion jolts UK bond market

Britain’s government bond market is showing signs of strain from the country’s energy crisis, with headlines about gas prices sparking heavy selling this week – a new development that points to growing unease over inflation expectations. There was disarray in Britain in recent days as a deficit of truckers left fuel pumps dry across the […]

Business

IKEA to shift more production to Turkey to shorten supply chain

Sweden’s flat-pack furniture giant IKEA is planning to move more production to Turkey to minimise problems with global supply chains and increased shipping costs, the company’s chief financial officer for Turkey said. Products it expects to make and then export from Turkey, including armchairs, bookcases, wardrobes and kitchen cabinets, are currently shipped thousands of miles […]

Business

Tesla faces investor test after big jury award over racism

A contract worker has won a $137 million jury award over workplace racism against Tesla Inc (TSLA.O), raising pressure on the electric vehicle maker whose shareholders will vote on Thursday on a proposal to review how it addresses similar complaints for full-time employees. The nonbinding shareholder resolution asks Tesla’s board to study the impact of […]