Vodafone-Three Merger Set to Be $16 Billion Test for Watchdogs

Vodafone UK carries an enterprise value of €9.8 billion and Three UK is worth €4.4 billion, while bringing them together would yield some £2 billion ($2.3 billion) in synergies, according to a note late Monday from New Street Research analysts led by James Rats. Meanwhile analysts at Oddo BHF SCA led by Stephane Beyazian put … Read more

EV Makers Must Partner With Miners to Secure Key Metals

(Bloomberg) — A key lithium producer in Australia, the world’s top supplier, is urging electric car manufacturers and battery makers to become its partners in new refinery projects, arguing their direct financial backing is vital to avoid shortfalls of the material that’s crucial to the clean energy transition.

UK Turmoil; Hurricane Ian Hits US

In the US, Hurricane Ian made landfall on the west coast of Florida and moved into South Carolina, with projected damages set to rank the storm among the top 10 costliest in the country’s history. That’s forced major port and rail facilities across the region to halt operations, further straining supply chains.

Putin Says Four Regions’ Annexation Is ‘Forever’

President Vladimir Putin early Friday signed decrees recognizing the “independence” of occupied Kherson and Zaporizhzhia in Ukraine as a prelude to absorbing those regions, as well as Donetsk and Luhansk, into Russia — a move that’s expected later today. Putin is also expected to address legislators.

Hurricane Ian’s Damages Are Forecast to Be Worse Than 1992’s Andrew

Damages from Ian are expected to range from $60 billion to $70 billion given the latest forecasts, according to Chuck Watson, a disaster modeler with Enki Research. That would make Ian the sixth-costliest US hurricane, below Ida’s $78.7 billion in 2021, according to data from the National Oceanic and Atmospheric Administration.

Oil Rises as US Crude Inventories Show First Decline in a Month

West Texas Intermediate rose as much as 3.4% to trade above $81 a barrel. Crude inventories fell 215,000 barrels last week, the US Energy Information Administration reported. The country’s demand for distillates, which includes diesel, jumped last week bringing the four-week average back above 2020 levels for this time of year. Meanwhile, leaks in three … Read more

Ukraine Latest: Russia Pushes Annexation; Putin May Speak Friday

Russian occupation authorities began drafting men in Ukraine’s Kherson and Zaporizhzhia regions, Ukrainian officials said.

Russia May Hold Annexation Votes on Thursday

The Kremlin may rush to complete annexation of four occupied regions of Ukraine this week, days after what the United Nations has denounced as illegal votes to join Russia. President Vladimir Putin may make his annual address to parliament Friday, a state news agency reported. The so-called referendums are due to end on Tuesday. Ukraine … Read more