Stellantis invests more than $100 million in California lithium project

By Ernest Scheyder (Reuters) – Automaker Stellantis said it would invest more than $100 million in California’s Controlled Thermal Resources, its latest bet on the direct lithium extraction (DLE) sector amid the global hunt for new sources of the electric vehicle battery metal. The investment by the Chrysler and Jeep parent announced on Thursday comes…

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Exclusive-China’s state banks seen selling dollars for yuan in London and New York hours

SHANGHAI (Reuters) -China’s major state-owned banks were seen busy selling U.S. dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said, in an attempt to slow the yuan’s depreciation. Though they also trade on their own behalf or to execute clients’ orders,…

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Hindenburg target Freedom Holding to keep working with non-sanctioned Russians

By Mariya Gordeyeva ALMATY (Reuters) – Kazakhstan-based Freedom Holding, the latest target of Hindenburg Research, plans to keep working with non-sanctioned Russian clients despite a critical report from the short-seller that Freedom describes as speculative and unsubstantiated. Hindenburg, which has tussled with tycoons such as Carl Icahn and Gautam Adani this year, said its research…

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Goldman Sachs used derivatives to help Exor build $2.8 billion Philips stake, filings show

By Toby Sterling, Pablo Mayo Cerqueiro and Andres Gonzalez AMSTERDAM (Reuters) – Investment company Exor was able to build a 15% stake in Dutch healthcare group Philips without triggering the usual disclosures thanks to derivatives deals through Goldman Sachs, regulatory filings show. The two companies said earlier this week that Exor, the investment arm of…

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