Locator: 45812MISC.
The stories:
Lukoil: you may all recall that the Lukoil chairman died after falling out of a window two years. He was replaced. That new chairman .... drum roll ... has did. Link here.
NATO: wow, perhaps the biggest under-reported global geo-political story so far this year — Sweden and Finland soon to join NATO. Already, Sweden has agreed to send advanced fighters (aircraft) to Ukraine immediately upon admission, probably at the end of November. There are multiple story lines, least of which the European - American fork in the road.
Quick! Guess from whom Apple might be these servers. You get three guesses and the first don't count.
Answer: Nvidia. If you missed this one, let me know and I will nominate you for the Geico Rock Award.
By the way, how much does a Nvidia GPU cost? Upwards of $250,000. Why do they charge that much?
Because they can.
Li-Cycle Holdings Corp., which is set to receive significant backing from the Biden administration, saw its share price slashed nearly in half after announcing it would pause construction on a first-of-its-kind lithium-ion-battery recycling plant.
The Toronto company said it would halt work on its Rochester Hub pending completion of a strategic review, including scope and budget. Li-Cycle said it is facing escalating construction costs that exceed prior guidance and is working closely with the US Energy Department concerning its offer of a $375 million loan commitment.
Li-Cycle is one of the many companies vying to help the US meet surging demand for battery materials needed in the transition from gas-powered cars. The government is pouring billions of dollars in subsidies and tax incentives to build up a domestic supply chain, intended to help the US compete with China’s dominant industry position.
The setback shows the challenges the US and the West face trying to essentially kick-start an industry from scratch.
Li-Cycle shares fell as much as 49% in New York. The stock closed at $1.23, down 46% for the day, its largest drop on record.
GM: we can't place all the blame on JPow killing the automobile industry. The UAW seems not to care if GM fails. There's a solution to ending this strike today but it's a bridge too far ... and until it either happens or someone else brings it up, I'm not going to mention it:
UAW settles with General Dynamics, yet to be ratified. Wages: up 14% over the four-year life of the contract. Fain asking for 40% from GM, Stellantis, and Ford. Link here.
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