US government taps UK firm to secure rare metals. The US government is in talks with London-headquartered mining business TechMet about potential investment in the firm as it works to secure better supplies of the rare metals required to mass-produce electric cars. Overseas Private Investment Corporation (OPIC), a US government agency tasked with advancing foreign policy and national security objectives, has contacted the company which mines metals used for the vehicles’ batteries. There is concern in the US about the growing control China wields over access to many of the raw materials, such as lithium and cobalt, needed.
Credit crunch prophet bets against Thomas Cook Group (TCG). A $9bn US hedge fund that forecast the 2008 global financial meltdown has quietly built a multimillion-pound bet against struggling travel agent Thomas Cook. Whitebox Advisors, based in Minneapolis, is one of a clutch of short sellers that believes the 178-year-old company faces more trouble after a catastrophic 2018. The debt-laden travel firm emerged as a takeover target over the weekend with a number of predators circling parts or all of the business. Fosun, the conglomerate co-founded by Chinese billionaire Guo Guangchang and Thomas Cook’s biggest shareholder, is among a number of parties named.
German renewables fund Aquila eyes London listing. A German investor is eyeing the London Stock Exchange as a potential venue for a fresh market listing of its renewable energy fund within the next two months. Aquila Capital, which has €8.2bn (£7.1bn) worth of “green” investments under management, incorporated its European renewables fund earlier this month and plans to list the company on the London market by the end of June. The fund hopes to raise around €300m to be channelled into existing renewable energy projects already generating income to target returns of around 7% a year. The fund’s leadership team is believed to be considering a pipeline of a dozen renewable energy investments across Iberia and Scandinavia in the next year.
Questor: as economic clouds gather it is time to steam out of Clarkson (CKN) and bank a profit. Questor share tip: the shipping broker has all the attributes of a good company, but its valuation puts it at risk if global trade stalls
