SAN FRANCISCO, Nov 5 (Reuters) - Tesla Inc (TSLA.O) plans to open a factory to produce battery manufacturing equipment in the Canadian city of Markham, Ontario, Mayor Frank Scarpitti said, as the electric carmaker ramps up the production of cheaper, higher-range 4680 battery cells.Scarpitti did not provide many details. In 2019, the U.S. electric carmaker acquired Canada-based Hibar, which manuf...Read More
BETHLEHEM, Pa., Nov 5 (Reuters) - Dozens of state and local governments are scrambling to explain how they plan to distribute billions of dollars in home rental aid funds in coming months as the U.S. Treasury pursues plans to reallocate unspent funds from lagging communities.U.S. Deputy Treasury Secretary Wally Adeyemo told Reuters that every underperforming jurisdiction has contacted the departme...Read More
MADRID, Nov 5 (Reuters) - Spanish oil company Cepsa is exploring a sale of its chemicals business under a strategic review as it seeks to raise funds to accelerate its transition to clean energy, two sources with knowledge of the matter told Reuters.Cepsa is working with Citi (C.N) to identify possible buyers for the division which is valued at up to 3 billion euros ($3.5 billion), the sources s...Read More
SAO PAULO, Nov 5 (Reuters) - Brazilian Communications Minister Fabio Faria said on Friday that the government may schedule a new 5G spectrum auction to sell batches that did not attract interest, mainly in the 26 GHZ frequency.Brazil telecom regulator Anatel concluded an auction on Friday with Faria saying in a news conference that the sale raised a total of 46.79 billion reais ($8.44 billion) inc...Read More
Chris Temple of The National Investor profiles 10 companies in a variety of sectors on his recommended list. "I very much am of the view that a great many resource-oriented stories and the best companies have incredible futures ahead of them," he writes. Companies discussed in this article:Enterprise Group Inc. (E:TSX.V: ETOLF:OTC) ProStar Holdings Inc. (MAPS:TSX.V: MAPPF:OTCQB ATI AirTest Technol...Read More
As the world adopts Cleantech as a means to curb environmental pollution, U.S.-based Mineworx Technologies Ltd. (MWX:TSX.V) has found a technological replacement for the traditional mining of precious metals. Mineworx uses its unique cleantech to economically and cleanly extract platinum and palladium from spent diesel catalysts. Mineworx Technologies Ltd (TSX.V: MWX) has just revealed that it wi...Read More
Chris Temple of The National Investor explains why he has put E2Gold on his buy list and why he believes E2Gold has the potential to multiply its resource base. Several weeks ago in one of my regular calls with Streetwise Reports to compare notes and ideas, E2Gold Inc. (ETU:TSX.V, ETUGF:OTC) was brought up to me as having had a far better year than the average junior gold explorer. A few things ha...Read More
Nov 5 (Reuters) - Electric van maker Workhorse Group (WKHS.O) is being investigated by the U.S. Department of Justice, the Wall Street Journal reported on Friday, citing documents reviewed by the newspaper.The focus of the inquiry was not revealed in the documents, the report said. Shares of the company were down 10.4% at $6.47 after the report.Workhorse and the DoJ were not immediately availa...Read More
LONDON/BRUSSELS, Nov 5 (Reuters) - The European Union said on Friday that Britain had made no move to seek a compromise on post-Brexit trade with Northern Ireland and cautioned London against triggering emergency unilateral provisions in the Brexit deal.Prime Minister Boris Johnson's Brexit negotiator David Frost ruled out immediately triggering such provisions, a move that would sour ties with th...Read More
Nov 5 (Reuters) - A trial of Pfizer Inc's (PFE.N) experimental antiviral pill for COVID-19 was stopped early after the drug was shown to cut by 89% the chances of hospitalization or death for adults at risk of developing severe disease, the company said on Friday.The results appear to surpass those seen with Merck & Co Inc's (MRK.N) pill, molnupiravir, which was shown last month to halve t...Read More
(Updates prices, adds analyst comment)Nov 5 (Reuters) - Canada's main stock index scaled a record high on Friday, aided by strength in financial stocks and a slew of upbeat corporate earnings, putting the benchmark index on course for a weekly gain.At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 91.27 points, or 0.43%, at 21,433.4.Financials, which account...Read More
(Adds Tenreyro, last paragraph)LONDON, Nov 5 (Reuters) - The Bank of England's top monetary policy officials see "some need" to raise interest rates to fend off a jump in inflation even if most of them wanted to hold off from increasing borrowing costs this week, the BoE's new chief economist said."I think across the committee, there is a recognition that, at least on the basis of today's informat...Read More
AMSTERDAM, Nov 5 (Reuters) - Shares in Italian software maker MotorK slumped nearly 10% on Friday, the first day of trading after their initial public offering on Amsterdam Euronext,MotorK, whose software helps car dealerships manage their digital presence, as well as with sales and marketing, raised 75 million euros ($86 million) in the offering, selling a 36.4% stake in the company.The shares we...Read More
GLASGOW, Nov 5 (Reuters) - Cautious optimism has emerged that COP26 in Glasgow can clinch a global carbon market deal unlocking trillions of dollars of green investment, with even hold-out nation Brazil signalling a desire for compromise.With world leaders having left the UN climate summit after a flurry of speeches and announcements early this week, diplomats at COP26 are in the midst of two week...Read More
LONDON/BRUSSELS, Nov 5 (Reuters) - Britain will not trigger an emergency provision in its Brexit deal on Friday, its negotiator said on arriving for talks with the European Union's pointman aimed at overcoming disagreements over trade across the Irish border.The emergency measures, called Article 16, allows either side to take unilateral action if they deem their agreement governing post-Brexit tr...Read More
GLASGOW (Reuters) - For pioneering climate economist Nicholas Stern, the computer revolution of recent decades holds useful lessons about how the falling cost of green technology can be a game-changer, and why economists still struggle to measure and model its implications.To explain the economic stakes involved in ridding the global economy of carbon, the author of the landmark "Stern Review" dra...Read More
(Reuters) - Helion Energy, a fusion energy tech startup, on Friday said it raised $500 million to build a net positive electrical generator, one that creates more power than it uses.The latest round values the company at $3 billion. Helion said $1.7 billion in follow on investments were committed if it can prove its technology works, which would be a major step toward making fusion technology a pr...Read More
Nov 5 (Reuters) - Clean energy company Helion said on Friday it had raised $500 million in a funding round led by entrepreneur and veteran investor Sam Altman. (Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy...Read More
LONDON, Nov 5 (Reuters) - The Bank of England said on Friday it would introduce new rules for its 20 billion-pound ($26.9 billion) Corporate Bond Purchase Scheme which would seek to favour companies which are doing more to reduce their impact on the climate."Firms will now also need to satisfy climate-related eligibility criteria for their bonds to be purchased by the CBPS, with purchases of eligi...Read More
Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.The First Movers Coalition, announced on November 4, is a partnership between th...Read More