IBM reported that a 3% drop in sales in the first quarter, a return to slight declines that characterized the first three quarters of last year. The one bright spot was its Red Hat software business, which it acquired last year. IBM CEO Arvind Krishna, in his first earnings call since taking the reins of the company earlier this month, said demand for its subscription-based products, which...
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The Electric electric vehicles
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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