LONDON/BEIJING (Reuters) - Chinese battery firm GEM has stopped buying cobalt from Glencore as the price of the battery material crashed below that agreed in a three-year deal between the two companies, sources close to the matter said. GEM <002340.SZ> said in a March 14 regulatory filing that it would buy 52,800 tonnes of cobalt from mining and trading giant Glencore (GLEN.L) between 2018 and 2020, without revealing the price. "The price went down so much," one source said, adding that GEM had no alternative supplier but was using its inventories of cobalt and that the Chinese firm had not attempted to renegotiate the contract recently. "GEM didn't buy because of what happened to the price. They didn't open the letters of credit and said to Glencore, sorry, but we can't take it at the agreed price," another source said.
GameChanger powered by U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) is multi-million-dollar, multiyear cleantech accelerator focusing on technologies that will “enable the grid of the future through long-term energy storage and controls”. Following an extensive global selection process, GCxN has named four companies to its inaugural cohort as it partners early-stage companies with experts from the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and Shell’s GameChanger program to provide promising startups with access to financial resources, state-of-the-art facilities and world-class technical experts. Each participating startup will receive as much as $250,000 in non-dilutive funding to aid in development and demonstration of its technology, with the opportunity for future follow-on funding and beta-testing with a strategic program partner, in addition to access to expertise and laboratory capabilities at both NREL and Shell. Antora Energy (Fremont, Calif.): Antora Energy is building large batteries for the grid at remarkably low costs using modified solar panels to efficiently change heat to electricity.
Shares of Lloyds Banking Group PLC (LON:LLOY) have been given an average recommendation of “Buy” by the eighteen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is GBX 76.08 ($0.99). Credit Suisse Group boosted their target price on shares of Lloyds Banking Group from GBX 85 ($1.11) to GBX 90 ($1.18) and gave the stock an “outperform” rating in a report on Monday, September 24th.
Scale of theft at Shell's Singapore refinery much greater, court docs show. SINGAPORE (Reuters) - Around $150 millions' worth of oil was stolen from Shell's biggest global refinery over several years, Singapore court documents reviewed by Reuters show, far more than reported when police first revealed the heist earlier this year. Almost a year on from raids that led to over a dozen arrests, including of several former employees of the local unit of Royal Dutch Shell, charge sheets state that around 340,000 tonnes of gasoil were stolen from the oil major's Pulau Bukom site in Singapore, in incidents dating back to 2014. Charges filed in the first few months of investigations after police raids in January related to the theft of around $10 million in oil.
Apple is attempting to resolve China's ban on sales of certain iPhones with a software update for users in the region, its latest move in a legal battle with Qualcomm over alleged patent infringement. banning Chinese imports and sales of seven Apple smartphone models, from 2015’s iPhone 6s through to last year’s iPhone X. The order said that the phones had violated two Qualcomm patents related to photo manipulation and using apps on a touchscreen.
Sellers promote their products in a similar manner as a TV shopping network, but they can respond to shoppers' questions in real time. At first glance, this seems like an innovative way for Facebook to expand its fledgling e-commerce ecosystem, which includes the Facebook Marketplace for peer-to-peer transactions, shoppable Instagram posts, and pop-up stores for some of its digitally native businesses. However, it also clearly copies some core ideas from Mogu(NYSE: MOGU), a Chinese live video shopping platform that went public in early December. Facebook failed to disrupt the e-commerce market for two reasons: Its platform was mainly associated with sharing photos, videos, and status updates, and most shoppers started their product searches on Amazon. However, Facebook still believes that it can squeeze itself into some e-commerce niches with "social shopping" experiences that merge social networks and shopping platforms. That's much lower than Facebook's projected share of 20.6%, but Amazon's rapid transformation into an advertising rival remains a major headwind for Facebook. Therefore, Facebook's moves into the e-commerce market could be considered both offensive and defensive moves against Amazon. When an innovator becomes a follower... Facebook's growth is decelerating as it faces a seemingly endless series of questions about privacy, security, and management ethics. Therefore, the company clearly needs to find fresh ways to generate growth. However, most of Facebook's new efforts -- including Instagram's addition of Snapchat-like features, Messenger's evolution into a platform, the launch of Facebook Watch, the introduction of smart speakers, and new Live video shopping features -- all merely clone existing ideas.
Elon Musk has never hidden the fact it isn't easy being a Tesla employee. “Nobody ever changed the world on 40 hours a week,” the CEO has tweeted, noting 120-hour work weeks weren't unusual for him. A story in Wired today (Dec. 13) shows the tolls Musk's single-minded obsession with building electric cars powered by….
To determine if one is a better investment than the other, we will compare the two companies’ growth, profitability, risk, return, and valuation characteristics, as well as their analyst ratings and sentiment signals.Growth. LYG trades at a forward P/E of 7.65, a P/B of 0.81, and a P/S of 2.29, compared to a forward P/E of 13.08, a P/B of 4.85, and a P/S of 4.57 for ORCL. This implies that the market is currently less bearish on the outlook for LYG.Summary. Oracle Corporation (NYSE:ORCL) beats Lloyds Banking Group plc (NYSE:LYG) on a total of 7 of the 13 factors compared between the two stocks. ORCL has lower financial risk, is more profitable, generates a higher return on investment, has higher cash flow per share and higher liquidity. In terms of valuation, LYG is the cheaper of the two stocks on an earnings, book value and sales basis, ORCL is more undervalued relative to its price target.
Apple’s (AAPL) guidance for the holiday quarter disappointed markets and was one factor that contributed to the 28% plunge in its stock since then. Apple now has a market cap of $801 billion and is third behind Microsoft (MSFT) and Amazon (AMZN). Earlier this year, we explained why Apple’s revenue from the iPhone would stagnate during the holiday quarter.
Facebook hosts offline privacy 'pop-up' in New York City. Associated Press13 December 2018, 23:09 GMT. NEW YORK (AP) — Wrapping up a year of privacy scandals , congressional hearings and a host of other problems, Facebook hosted a one-day "pop-up" event in New York City's Bryant Park on Thursday, hoping to talk to users about their privacy settings, ad preferences and whatever else may be on their mind. Facebook has held similar events in Dubai, Dublin, London and Cologne, Germany, all within the past year. For those who did stop by, it was a rare chance to speak to a real person from Facebook about concerns such as being shut out of an account for using an alias, receiving a notification about a login attempt, or seeing what information the social network uses to target them with ads. Egan said users at similar events generally wanted to know about who can see "their stuff" and how ads are targeted to them. As for Facebook's privacy work in the past year, she acknowledged there is work to do but, asked to give a letter grade, she granted the company a "B."