Activist investor Elliott Management has sold nearly all its $3.2 billion stake in AT&T, 14 months after it disclosed the stake. The New York-based hedge fund has pushed for a number of major changes that AT&T has taken to heart–such as adding new directors to its board and reviewing the sale of certain assets, including DirecTV. AT&T has held discussions about selling a stake in the...
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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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