The biggest backers of SoftBank’s Vision Fund don’t want to pump money into a second massive fund, the Wall Street Journal reports, preferring more incremental steps like just allocating profits from the first fund into a follow-up fund. The resistance comes from Saudi Arabia’s Public Investment Fund and Abu Dhabi’s state-owned fund Mubadala Investment Co., which pumped the most money into the...
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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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