Private equity firm KKR invested $1.5 billion into Jio Platforms, joining Facebook and Silver Lake Partners as the latest firm to invest in the digital arm of Indian conglomerate Reliance Industries. In the past few weeks, Reliance founder Mukesh Ambani has raised some $9 billion for Jio, which has $20 billion in debt related to the costs of building out India’s biggest cellular phone network. ...
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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