SoftBank Group said it plans to sell up to 4.5 trillion yen ($41 billion) of its assets over the next four quarters. Using that money, the tech investment giant plans to buy back as much as 2 trillion yen worth of its own shares and reduce its debt. SoftBank’s Tokyo-listed stock jumped 19% Monday on the share buyback plans. SoftBank didn’t say which assets it plans to sell to raise the money....
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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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