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British Prime Minister Starmer: Every pound must be spent responsibly.The French presidential palace stated that President Macrons attendance at the Franco-Italian summit will help deepen cooperation between the two countries in areas such as energy and defense.Britains new defense secretary: Investment plans are still being finalized.On June 12th, Morgan Stanley economist Bruna Skarica noted in a report that UK monthly GDP appears to be benefiting again from strong performance in the white-collar services sector, particularly the information and communications technology (ICT) industry. She pointed out that output in this sector is currently up 6.7% year-on-year, and has grown by 45.4% since the fourth quarter of 2019, while the overall economy has only grown by 6% during the same period. "It seems far from a coincidence that the sector most vulnerable to the rapid spread of artificial intelligence is simultaneously driving GDP growth and productivity gains," Skarica added. Given that the Bank of England stated last year that structural productivity growth in the UK was negative, the bank should comment further on this this year.On June 12th, HSBC analysts noted in a report that the US dollar is currently trading below levels implied by market expectations of US interest rates. They stated that the dollars reaction has been limited as recent market expectations have shifted from anticipated rate cuts to possible rate hikes. They believe this may reflect the loose financial environment in the US and market expectations for a resolution to the Middle East conflict. They added that the dollar needs clear stimulus from monetary policy. If the Federal Reserve fails to support rate hike expectations at next weeks meeting, the dollar "could be in trouble."

LG Energy inks supply contracts with three Canadian mining companies

Skylar Williams

Sep 23, 2022 11:13

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LG Energy Solution has sourcing agreements for lithium and cobalt with three Canadian mining companies in order to extend its operations in North America.


The deals, according to the Tesla (NASDAQ:TSLA) supplier, are part of an effort to expand mid- to long-term supply contracts with North American mines and processors.


LG stated that Electra, Avalon, and Snowlake will supply 7,000 tonnes of cobalt sulfate over the course of three years beginning in 2023, 55,000 tonnes of lithium hydroxide over the course of five years beginning in 2025, and 200,000 tonnes over the course of ten years.

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