Workers inspect an evaporation pond of lithium-rich brine at an Albemarle Corp. mine in Chile’s Atacama Desert in August. Tesla Inc. TSLA, -5.25% reportedly is on the prowl for its own lithium-mining company, and losses are piling up for the stocks of lithium producers. Shares of Albemarle Corp. ALB, -6.27% were down more than 4% on Tuesday, after a drop of nearly 10% on Friday. Livent Corp. LTHM, -3.38% shares extended their losses a third day, down more than 3% on Tuesday after a 9% decline on Friday. And rounding out the main U.S. publicly traded lithium producers, Piedmont Lithium PLL, -1.36% fell more than 2% after a 12% drop on Friday. According to a Bloomberg report late Friday, Tesla is considering a potential bid for Canadian miner Sigma Lithium Corp. SGML, +16.11% . Sigma Lithium is one of “multiple mining options” being explored, the report said. Tesla has long wanted to mine its own metal, a key component in electric-vehicle batteries. In September, the EV maker filed paperwork connected with a proposed lithium refinery in Texas, which would add to Tesla’s presence in the state. It also would be following the advice of the company’s chief executive, Elon […]

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Believe it or not, the partnerships your business builds could very well help combat climate change. Getty Images Look at the headlines, and you’ll see plenty of dire warnings about climate change and its consequences. Erratic weather and unprecedented heatwaves don’t just affect wildlife and cause weather-related damage — climate change is even fueling conflict in many parts of the globe. Climate change is also dramatically affecting businesses , and climate-related challenges such as diminished supplies and the exacerbation of poverty could become even more severe in the future. In the midst of all this, businesses are increasingly recognizing their own need to get involved in the fight against climate change — and quite often, strategic partnerships are proving key to making these goals become an attainable reality. Sharing Resources There are many startups that are exclusively focused on solving challenges related to climate change — but while they may have innovative ideas, they often lack the resources to turn them into reality. Enter one of the most common types of strategic business partnerships that is currently seen on a global scale: capital investments that are specifically focused on green initiatives. This was illustrated to me during a recent […]

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uehne+Nagel and the Birmingham Airport Authority (U.S.) have announced details of a new partnership that will expand business opportunities for both the company and the region. This is the first time the BAA is partnering with a logistics company and the first time Kuehne+Nagel is establishing a presence at a secondary airport in North America. This partnership allows both organizations to better meet the cargo needs of businesses in the region and helps position Birmingham as an important part of the cargo market in the Southeastern corridor of the U.S. Kuehne+Nagel will begin operating weekly international cargo flights into BHM starting in April 2023. This new partnership represents a new era of business development at the airport and positions the Birmingham Airport Authority to build on its role as an important center for business growth in the region and in the state of Alabama. “This is a moment that will change the trajectory of this airport,” said Darlene Wilson, Chair of the Birmingham Airport Authority. “The recent enhancements we’ve made to the infrastructure of the airfield, plans for a new Air Cargo facility, combined with this partnership with one of the leading logistics companies is getting us closer to […]

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Most lenders have a list of required documents for business loans . That said, the specific documents you’ll need varies by lender, and some lenders pride themselves on easy-to-complete applications with limited documentation requirements. Documents required for a business loan You’ll generally find that traditional banks and credit unions require the most documentation. But even online lenders, like Upstart, Credibly and Fundbox, have documentation requirements that you must meet to get approved for funding . You’ll also need to specify the loan use, how much you need to borrow and how you’ll repay it. Here’s what you’ll typically need to apply for a business loan. Personal and financial information Lenders want to confirm your identity and learn about your financial health. So, the lender will need your: Name Address Phone number Date of birth Social Security number It’s also helpful to have your personal bank statements from the past year and income documentation handy, just in case the lender requests them during the application process. Small business lenders typically weigh your personal finances alongside your business finances. The lender will use your personal information to get a copy of your credit reports and scores. These factors affect your approval […]

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“Your dream – our mission.” That’s the motto of Community Ventures , a community development financial institution (CDFI) that has been serving Kentucky since 1982. Today, they operate five offices throughout the state and are committed to improving the quality of life for all of its citizens. In the 1990s, Community Ventures began offering microloans of up to $50,000 to small businesses and entrepreneurs who are unable to obtain them from traditional lending providers. Because of this practice, they have awarded the most loans statewide and are regularly recognized for their contributions to economic development. The Kentucky Small Business Association recently named them “Microlender of the Year” – for the 20th consecutive time. “Clients usually walk in with a basic idea and we help flesh out a complete business plan,” said Kevin Smith, President and CEO. “We then determine the financials of the loan, identifying how much start-up capital will be required and how much debt the client can assume. After the loan has been approved, our team of business trainers continues to offer their assistance as needed.” Economic downturns often propel CDFIs into the spotlight, and the pandemic was no exception. In 2020, the demand for microloans grew […]

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New York CNN — The Church of Jesus Christ of Latter-day Saints and its investment manager will pay a $5 million fine to settle regulatory charges that it hid a huge investment fund. The Securities and Exchange Commission said Tuesday that Ensign Peak Advisers, the investment management firm that handles the LDS church’s finances, failed to file forms that would have disclosed the value of certain church investments. Instead, the firm filed forms for shell companies that obscured the church’s portfolio and misstated the firm’s control over the church’s investment decisions, the SEC said. The SEC filed charges against both the church for causing the violations as well as Ensign Peak. The LDS church was concerned that disclosure of its portfolio, which by 2018 had grown to approximately $32 billion, would lead to negative consequences, the SEC said. To settle the charges, Ensign Peak agreed to pay a $4 million fine and the LDS church agreed to pay a $1 million penalty. “We allege that the LDS Church’s investment manager, with the Church’s knowledge, went to great lengths to avoid disclosing the Church’s investments, depriving the Commission and the investing public of accurate market information,” Gurbir Grewal, director of […]

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Visitors view a TAI/AgustaWestland T129 ATAK attack helicopter on display at the Turkish Aerospace stand during the Naval Defence and Maritime Security Exhibition (NAVDEX), part of the wider International Defence Exhibtion (IDEX) at the Abu Dhabi International Exhibition Centre on February 20, 2023. By Marcus Weisgerber IDEX, the International Defense Exposition held every other year in Abu Dhabi, is one of the few remaining places in the world where American and Russian arms makers share the same venue. (Recall that Russia was booted from the Farnborough Air Show in England last year.) So on the week marking one year since Vladimir Putin ordered his forces to invade Ukraine, some 200-plus Russian weapons are reportedly on display at IDEX. Executives touted their battle-tested weapons , though Russia’s invasion has highlighted its weapons shortcomings . A lot of the language used by Russian companies —such as talk of technology transfer, joint research-and-development projects, and offsets—was incredibly similar to that of Western companies , who have similarly looked to the Middle East to boost sales. Heavily sanctioned by the U.S. and European nations, Russia’s deputy prime minister touted that trade between Moscow and Abu Dhabi rose 68 percent to $9 billion in […]

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As AT&T continues its strategy to put all its chips on its core telecom business, the carrier is reportedly considering the sale of its five-year-old cybersecurity business unit. ARTICLE TITLE HERE AT&T is mulling the sale of its five-year-old cybersecurity unit, according to a new report. The carrier giant’s cybersecurity solutions business, which was launched in 2018 , includes assets from AT&’s purchase of open-source threat intelligence firm AlienVault in the same year. The company has been working with Barclays to explore bids for its cybersecurity business, according to a report from Reuters. Dallas-based AT&T did not respond to CRN’s request for comment on the alleged selloff by publication time. The cybersecurity unit was created to make AlienVault’s cybersecurity technologies and AT&T’s existing security capabilities accessible to all businesses, from Fortune 100 companies all the way down the chain to local mom-and-pop stores, the carrier said in 2018. The business unit today offers security consulting services, endpoint security, network security, and threat detection and response services. Advertisement In the past five years, however, AT&T has become increasingly focused on its core telecom business. Elliott Management in 2019 revealed a $3.2 billion stake in AT&T and laid out a series […]

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A Kalispell woman who orchestrated an illegal money-mule business — using wire fraud schemes across the U.S. to collect money before transmitting the funds overseas in exchange for a fee — was sentenced Tuesday to nearly five years in prison. In addition to the 57-month federal prison term, Theresa Anne Chabot, 58, was also ordered to pay more than $2 million in restitution and must serve three years of supervised release. In September 2022, Chabot pleaded guilty to the felony charge of operating an unlicensed money transmitting business. She appeared in U.S. District Court in Missoula before Judge Dana L. Christensen. The court also ordered Chabot to forfeit a 2021 Chevrolet Tahoe as part of her sentence. “As a money mule, Chabot laundered millions of dollars collected through various fraud schemes across the country and sent proceeds overseas while keeping a share of the money for her own benefit. Chabot exploited and harmed numerous trusting victims and now rightfully faces the consequences of her criminal conduct. As this case shows, our office will continue to aggressively investigate and prosecute those who criminally exploit others,” U.S. Attorney Jesse Laslovich said. According to court documents, Chabot collected money through various wire […]

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Some Twin Cities-area grocery stores, theaters and other businesses have made the decision to close for a portion of Wednesday or Thursday due to the winter weather. MINNEAPOLIS — With major snow totals in the forecast, some Twin Cities area businesses are making schedule adjustments or closing altogether. Find a non-exhaustive list of business closings below, which will be updated as we learn about them. For school closings and cancellations, find an updated list by visiting kare11.com/closings . Lunds and Byerlys : In an email to customers and social media post , the grocery chain announced it will close at 7 p.m. on Wednesday and reopen at 8 a.m. on Thursday. The message noted that "some in-store services might not be available on Thursday." Kowalski’s : In a social media post , the company said all stores will close at 7 p.m. Wednesday to "allow our employees to get home safely." Stores will reopen Thursday at 8:30 a.m. Chanhassen Dinner Theatres : In a website post , Chanhassen Dinner Theatres announced performances will be canceled for Wednesday, Feb. 22, including matinee and evening performances. This is a developing story. This list will be updated as more information becomes available. […]

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