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The final reading of the Eurozone Composite PMI for March was 50.7, below the expected 50.5 and the previous reading of 50.5.The Eurozones final March services PMI was 50.2, below the expected 50.1 and the previous reading of 50.1.April 7th - Surveys show that German demand weakened due to the Middle East wars, causing a sudden loss of momentum in service sector business activity in March. The final S&P Global German Services PMI for March fell to 50.9 from 53.5 in February, the lowest level since September last year, slightly below the preliminary reading of 51.2. Phil Smith, Vice President of Market Intelligence at S&P Global, attributed the economic slowdown to rising gasoline prices and increased uncertainty. He added that despite significant cost increases, service providers failed to pass on higher price increases to customers due to weak demand. Smith stated, "The decline in new business inflows for the first time since September last year clearly demonstrates the direct impact of the Middle East wars on demand, while the significant drop in business expectations highlights the dampening effect of rising energy prices, supply chain disruptions, and generally high uncertainty on growth over the next year." Business expectations fell to a three-month low of 53.4 in March, below the long-term average of 56.7. The final Composite PMI also fell to 51.9 in March from 53.2 in February, a three-month low, entirely due to the slump in the service sector.Germanys final composite PMI for March was 51.9, in line with expectations and unchanged from the previous month.Germanys final March services PMI was 50.9, below the expected 51.2 and the previous reading of 51.2.

Livent Explores Lithium Development Opportunities in Canada

Charlie Brooks

Nov 04, 2022 14:51

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Livent (NYSE:LTHM) Corp, a lithium producer, is investigating acquisitions in Canada and other countries to enhance production and processing of the metal used to make electric car batteries, according to the company's CEO.


Livent, one of the world's largest makers of the metal, has global expansion plans that include Canada. Nonetheless, the company desires to grow in order to meet the increasing demand of the electric vehicle (EV) and renewable energy industries.


In an interview on Thursday, Paul Graves, the chief executive officer of Livent, noted, "Canada is an integral part of our expanding capacity." "We have to get bigger. We can't just sit still."


Last month, Sarah Maryssael was named the company's chief strategy officer to pursue potential lithium deals abroad. Maryssael was recruited by Livent from Tesla (NASDAQ:TSLA) Inc, where she oversaw the procurement of lithium, cobalt, and nickel.


This week, Livent reported quarterly earnings that surpassed expectations and raised the midpoint of its annual forecast, while lowering the upper end of the forecast due to inflation concerns.


Livent has developed gradually in Canada since forming a joint venture in 2020 to acquire the Nemaska lithium project in Quebec, which is expected to open in 2025 and produce 34,000 tonnes of lithium. Graves claimed that Nemaska could potentially produce 100,000 tonnes per year, but Livent will investigate more development opportunities in Canada.


According to Livent's CEO since 2018, Mr. Graves, the company is interested in transactions in Argentina, where it owns a lithium brine project, and Australia. He added that Livent would not acquire a lithium mine if surrounding processing facilities were insufficient.


General Motors Company (NYSE:GM), BMW, and Tesla are among Livent's most important clients.


In general, the Canadian government has encouraged EV mineral operations; however, on Wednesday it ordered three Chinese businesses to divest from crucial Canadian mining projects, citing national security concerns.

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