GM and LG Shelve Plans for Fourth US EV Battery Plant
(Bloomberg) — General Motors Co. and its battery joint-venture partner LG Energy Solution have canceled plans to build a fourth plant in the US, according to people familiar with the matter.
Bloomberg Business
Intesa Sheds Up to €20 Billion of Assets as ECB Faults Risk
Intesa Sanpaolo SpA is cutting risk-weighted assets by as much as €20 billion ($22 billion) after the European Central Bank faulted the lender’s calculations of how much risk it faces.
SEC Sues Trader Over Alleged $116 Million Mango Crypto Scam
The US Securities and Exchange Commission sued Avraham Eisenberg, alleging he orchestrated an attack on the crypto trading platform Mango Markets that allowed him to steal $116 million in digital assets.
Thoma Bravo Nears C$1.8 Billion Deal for Magnet Forensics
Thoma Bravo agreed to acquire Canada’s Magnet Forensics Inc. for about C$1.8 billion ($1.3 billion), adding another cybersecurity asset to the private equity firm’s portfolio.
New Jersey Tells Bars It’s OK to Ban Guns During Bitter Giants-Eagles Game
Bar owners in New Jersey — a National Football League battleground between fans of the Giants and the Eagles — are being encouraged to ban guns ahead of the teams’ Saturday division playoff.
Musk Is Next Witness in Fraud Suit Over Tweets, Lawyers Tell Judge
(Bloomberg) — Tesla Inc. CEO Elon Musk will be the next witness at a multibillion-dollar trial over claims that he misled shareholders in 2018 tweets about taking the company private, lawyers in the case told the judge Friday.
Economists Forecast Dismal Year for Latin American Economies, Especially Chile
Latin America’s major economies are forecast to suffer a sharp growth slowdown this year, with Chile hardest hit, according to the latest survey conducted by Bloomberg News.
Youngkin Says Ford Has ‘Trojan Horse’ Relationship With Chinese Battery Maker
Virginia Governor Glenn Youngkin is calling an electric-vehicle battery plant planned by Ford Motor Co. and a Chinese partner a “Trojan horse” for China that would undermine policy efforts to strengthen the US auto industry.
Oil Rises a Second Week as Chinese Buying Spree Buoys Market
Oil rallied to the highest since mid-November, capping off its second straight week of gains on optimism over increased demand from China.
Fed’s Waller Backs Slowing the Next Rate Hike to 25 Basis Points
(Bloomberg) — Federal Reserve Governor Christopher Waller, one of the more hawkish officials at the US central bank, has joined other policymakers in backing another moderation in the size of rate increases when they next gather.
