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Arcadium Lithium Shareholders Approve $6.7 Billion Sale to Rio Tinto with 98% Vote

Ninetyeight per cent of shareholders of Arcadium Lithium voted in favour of the $6.7 billion sale to the massive Australian mining company Rio Tinto.

Ninetyeight per cent of shareholders of Arcadium Lithium voted in favour of the $6.7 billion sale to the massive Australian mining company Rio Tinto. Arcadiums shares increased by almost 7% in extended trading after the news. With the purchase anticipated to finish in mid2025, Rio Tinto will overtake Albemarle and SQM as the thirdlargest lithium miner in the world. However, several shareholders have filed a lawsuit against Arcadium, claiming that the company was negligent and misled about the transaction. Rio Tinto agreed earlier this year to purchase Arcadium for $5.85 per share, almost 90% more than the stocks closing price on October 4. Through the acquisition, Rio Tinto will have access to Arcadiums lithium mines, processing plants, and important clients, such as Tesla and GM, in several nations. Read More..

B2B Tech News | 7 months ago        

Lithium Americas and GM Finalize Joint Venture for Thacker Pass Lithium Mine

The joint venture between General Motors and Lithium Americas to develop the Thacker Pass lithium mine in Nevada has been finalised. According to CEO

The joint venture between General Motors and Lithium Americas to develop the Thacker Pass lithium mine in Nevada has been finalised. According to CEO Jonathan Evans, the projects final investment decision is expected to be made in early 2025. GM will use a credit facility and cash payments totalling $625 million to purchase a 38% interest in the mine as part of the transaction. This collaboration comes after the U.S. government approved a $2.26 billion loan for the Thacker Pass project, launched during the Biden administration but authorised under Donald Trump. At full capacity, Thacker Pass should generate 40,000 metric tonnes of batterygrade lithium carbonate yearly, enough to power about 800,000 electric cars. Read More..

B2B Tech News | 7 months ago        

IndiaMiddle EastEurope Economic Corridor Takes Center Stage at I2U2 Discussion

The revolutionary quadrilateral cooperation between India, Israel, the United States, and the United Arab Emirates, known as the I2U2 Group, was recen

The revolutionary quadrilateral cooperation between India, Israel, the United States, and the United Arab Emirates, known as the I2U2 Group, was recently highlighted for its disruptive potential. The CUTS Internationalorganized virtual gathering, titled "I2U2 Towards a Transformative Quadrilateral Partnership," brought together eminent professionals to discuss how collaboration could change global cooperation and economic integration. CUTS Secretary General Pradeep S. Mehta highlighted the partnerships emphasis on practical economic cooperation instead of past disputes. Speakers emphasized the IndiaMiddle EastEurope Economic Corridors IMEEC strategic significance in improving connectivity and its consequences for regional stability and international trade. The session also covered several possible collaboration areas, including food security, healthcare, and technology, highlighting the importance of the I2U2 in a shifting geopolitical environment. Read More..

B2B Tech News | 7 months ago        

Singapore’s November Inflation Falls Short of Expectations as Prices Rise by 1.9% YearonYear

In November, Singapores primary consumer price indicator increased 1.9% yearly, less than experts had predicted and the weakest increase in almost thr

In November, Singapores primary consumer price indicator increased 1.9% yearly, less than experts had predicted and the weakest increase in almost three years. Similar to the previous months growth, the core inflation rate—which does not include the prices of private road transport and lodging—was lower than the expected 2.1%. Since November 2021, this is the lowest rise. Headline inflation was 1.6%, less than the 1.8% forecast. The Monetary Authority of Singapore MAS may adjust monetary policy in January due to the decreasing inflationary pressures. Still, analysts predict that major adjustments might not occur until 2025 because of the uncertainty surrounding U.S. policies under incoming President Donald Trump. Read More..

B2B Tech News | 7 months ago        

Macron Pledges France’s Support for Ethiopia’s Urgent Debt Restructuring During State Visit

While visiting Ethiopia on Saturday, French President Emmanuel Macron emphasised the need for a resolution "in the coming weeks" and voiced his strong

While visiting Ethiopia on Saturday, French President Emmanuel Macron emphasised the need for a resolution "in the coming weeks" and voiced his strong support for the countrys debt restructuring efforts. Following Ethiopias recent agreement with the International Monetary Fund IMF on the second review of a $3.4 billion lending program, Macron has endorsed the move. "Thanks to your commitment to the reform program you are leading, we aim to complete the restructuring of this three billioneuro debt in the next few weeks," Macron said during a joint press conference with Ethiopian Prime Minister Abiy Ahmed. He also emphasised Frances unwavering support for the current IMF talks, especially a pivotal meeting scheduled for midJanuary. Read More..

B2B Tech News | 7 months ago        

Central Bank of Nigeria Grants BDCs Temporary Access to Official Forex Market for 6 Weeks

Bureau de Change BDC operators now have temporary access to the official foreign exchange market from 19 December 2024 to 30 January 2025, the Central

Bureau de Change BDC operators now have temporary access to the official foreign exchange market from 19 December 2024 to 30 January 2025, the Central Bank of Nigeria CBN stated Thursday. This agreement allows BDC operators to buy up to $25,000 per week from approved dealers all transactions must be funded in advance at going rates and with a maximum spread of 1%. The CBNs custom of selling foreign exchange to BDCs directly at a subsidised rate has changed. The statement failed to explain the decision, which gives BDCs access to a recently introduced automated FX trading system meant to replace the outdated overthecounter system. Read More..

B2B Tech News | 7 months ago        

Prax and Shell Abandon Sale of 37.5% Stake in PCK Schwedt Refinery Amid Legal Delays

Prax and Shell informed the public on Friday that Shells 37.5% ownership of the PCK Schwedt oil refinery in Germany will not be sold. The agreement wa

Prax and Shell informed the public on Friday that Shells 37.5% ownership of the PCK Schwedt oil refinery in Germany will not be sold. The agreement was reached in December last year, but thirdparty lawsuits caused delays. The decision by the German government to deprive Russian oil company Rosneft of authority over the refinery, which was prompted by the 2022 breaking of GermanyRussian energy links, created complications. Both businesses confirmed in their announcements that they had decided to withdraw from the deal. Read More..

B2B Tech News | 7 months ago        

USIndia Partnership Ambassador Garcetti Stresses Need for Training Programs and IP Protection

At a USIndia Business Council event, US Ambassador to India Eric Garcetti emphasised the prospects of the USIndia alliance while emphasising the neces

At a USIndia Business Council event, US Ambassador to India Eric Garcetti emphasised the prospects of the USIndia alliance while emphasising the necessity of reducing tariffs and promoting fair trade. He underlined the value of intellectual property and trademark protection, as well as training programs tailored to the requirements of companies in both nations. Indias labour force is "one of the most extraordinary resources humanity has," Garcetti said, urging a renewed dedication to openness and trust. He promoted combining Indias grassroots inventiveness with American scientific and financial knowhow to build ecosystems that efficiently utilise human capital. According to Garcetti, cooperation may spur both countries bold objectives and winwin solutions. Read More..

B2B Tech News | 7 months ago        



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