South Korea’s SK ties up with Bill Gates’ TerraPower for nuclear power opportunities

SEOUL – South Korea’s SK Inc said on Tuesday it signed an agreement with TerraPower, a U.S. venture founded by billionaire Bill Gates, to tap opportunities in connection with small-sized nuclear power reactors, called small modular reactors. SK Inc, the holding company for South Korea’s second-largest conglomerate SK Group, said in a statement it signed the agreement along with affiliate SK Innovation Co Ltd. The statement did not mention any investment details.

"South Korea’s SK ties up with Bill Gates’ TerraPower for nuclear power opportunities"

Australia’s Brambles ends $14 billion takeover talks with CVC Capital

– Australia’s Brambles Ltd said on Tuesday European private-equity firm CVC Capital Partners has ended preliminary talks with the company over a potential A$20 billion ($14 billion) takeover offer, citing external market volatility. The development comes a day after the Australian logistics firm confirmed it was evaluating the offer, which would have been one of the biggest private-equity-backed takeovers in the country. It had not put a number on the deal. Shares of Brambles dropped…

"Australia’s Brambles ends $14 billion takeover talks with CVC Capital"

Steel industry carbon emissions to drop nearly 1/3 by 2050 – Woodmac

BEIJING – Carbon dioxide emissions from the world’s steel sector will fall 30% by 2050 compared with last year as more mills turns to less-polluting electric arc furnaces (EAF), consultancy Wood Mackenzie said in a study on Tuesday. Around 48% of global crude steel will be made via EAF by 2050, according to Woodmac, increasing from 30% in 2021 and almost on a par with traditional blast furnace steelmaking. “Together with green hydrogen-based direct reduced…

"Steel industry carbon emissions to drop nearly 1/3 by 2050 – Woodmac"

Tiger Global raised stakes in some tech names battered by year’s rout -filing

BOSTON – Investment firm Tiger Global, which has lost billions of dollars in this year’s technology stock meltdown, increased its stakes during the first quarter in several companies that have been especially hard hit by the selloff, a regulatory filing shows. Tiger Global boosted its holding in consumer internet company Sea Limited by 18% to own 13.5 million shares on March 31, according to a filing made on Monday. Sea Limited’s stock price has tumbled…

"Tiger Global raised stakes in some tech names battered by year’s rout -filing"

Explainer-What happened with Abbott baby formula that worsened a U.S. shortage?

– Abbott Laboratories, the biggest U.S. supplier of powder infant formula including Similac, initiated a recall and closed its Sturgis, Michigan, manufacturing plant earlier this year after reports of serious bacterial infections in four infants. The recall and shutdown has worsened a baby formula shortage among multiple manufacturers that began with pandemic supply chain issues. Here are some details about what has happened: WHEN DID THE PLANT CLOSE? Production at an Abbott plant in Sturgis,…

"Explainer-What happened with Abbott baby formula that worsened a U.S. shortage?"

Russia gives Credit Bank of Moscow licence to export gold

– Credit Bank of Moscow (MKB), one of Russia’s largest private lenders, has obtained a gold export licence from the government, it said on Monday, becoming the latest Russian bank to turn to precious metals trade to offset the impact of sanctions. The main operators of the gold market in Russia and its largest lenders – Sberbank and VTB – have been hit by harsh Western sanctions imposed on Moscow after it sent tens of…

"Russia gives Credit Bank of Moscow licence to export gold"

Trump’s Truth Social posts will have to wait before reposts on other platforms

– Donald Trump will have to wait for six hours before reposting his messages from social media platform Truth Social on other platforms, a regulatory filing revealed on Monday. The platform was launched with the mission of standing up to Big Tech, after the former U.S. president was kicked off of Twitter, Facebook and YouTube for allegedly inciting and glorifying violence during the Jan. 6 U.S. Capitol riots. Billionaire Elon Musk, who has bid to…

"Trump’s Truth Social posts will have to wait before reposts on other platforms"

Return of the Moskvich: Russia to revive ‘legendary’ Soviet-era car after Renault exit

(Corrected to say $1 billion not $1 million in the ninth paragraph.) -A Soviet-era car brand the “Moskvich” could make a surprise comeback in Russia, as Moscow takes over assets belonging to Renault following the French carmaker’s exit from the country. Moscow’s mayor Sergei Sobyanin said he would nationalise Renault’s car factory in the city, after the Western carmaker said it was selling its local business following the start of the conflict in Ukraine. The…

"Return of the Moskvich: Russia to revive ‘legendary’ Soviet-era car after Renault exit"

Some U.S. inmates released under COVID protocols challenge orders to return to prison

WASHINGTON – Nordia Tompkins was serving a seven-year sentence for a drug charge in June 2020 when the U.S. federal Bureau of Prisons released her to home confinement under the terms of a law passed by Congress to slow the spread of COVID-19. The 37-year-old mother of two began settling back into her life north of New York City, pursuing studies for a new career in cosmetology. That changed a year later when she stopped…

"Some U.S. inmates released under COVID protocols challenge orders to return to prison"