Warner Music hit the public markets Wednesday, with shares priced in its IPO at $25 but closing up 20%, a sign that investors are hungry for IPOs after the pandemic-triggered stockmarket plunge brought IPOs to a halt. Warner’s offering also demonstrates a striking return to health of the music industry, as the growth of streaming revenues has provided it with a steadily growing and stable...
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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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