International News 05/03
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The United States has collaborated with Chile to secure a supply of lithium.
The United States intends to boost its lithium imports from Chile to meet the rising demand for electric vehicle batteries. According to US Treasury Secretary Janet Yellen, the growing demand for green energy could generate global investment opportunities worth $3 trillion by 2050. The agreement between Chile and the US is expected to benefit both countries and enhance energy supply security. This action is in line with the US law on controlling inflation, which aims to decrease the country's reliance on strategic raw materials, including minerals, from China. Yellen stressed that the US is keen to increase domestic production and obtain minerals, such as lithium, from free trade partners like Chile, which is known for its environmentally-friendly mining practices and climate agenda. This rise in lithium purchases would make the US the second-largest purchaser of lithium from Chile, after China. Yellen clarified that this action is not meant to impede Chile's trade with China but rather to enhance trade partnerships.
https://internasional.kontan.co.id/news/amerika-serikat-menggandeng-cile-demi-pasokan-litium-1
Bill Gates has allocated 82% of his portfolio to only four stocks.
Bill Gates, co-founder of Microsoft and billionaire philanthropist, has seen his wealth continue to grow since stepping down from the tech company to focus on his charitable activities. According to Forbes, Gates is now worth an estimated $127.7 billion, making him the seventh richest person in the world. Gates' charitable efforts are primarily directed through the Bill & Melinda Gates Foundation Trust, which aims to create a world where everyone has the opportunity to lead a healthy and productive life. The trust has spent nearly $54 billion since 2000 and holds stakes in various companies, with Microsoft being the largest. The Gates Foundation owns more than 38 million shares of Microsoft, valued at $14.3 billion. Microsoft, under the leadership of CEO Satya Nadella, has shifted its focus to the cloud, contributing to its continued success.
https://internasional.kontan.co.id/news/bill-gates-tempatkan-82-portofolionya-hanya-di-4-saham-ini
Stocks have surged due to falling yields and bets on a rate cut.
Global equity indices have reached new record highs due to a significant drop in Treasury yields. This drop was prompted by weak US economic data and comments from Federal Reserve officials, which added to expectations of an upcoming interest rate cut. The Institute for Supply Management (ISM) reported a contraction in the manufacturing sector, with the manufacturing PMI falling from 49.1 to 47.8. Furthermore, the University of Michigan's consumer survey showed a larger-than-anticipated drop in consumer sentiment. Federal Reserve Governor Chris Waller expressed optimism regarding lower interest rates and emphasized that the decision on the final size of the Fed's balance sheet is not related to inflation policy. The US personal consumption expenditure (PCE) report revealed the lowest annual inflation growth in three years. Despite warnings from the President of the Richmond Federal Reserve, investors largely disregarded them. Instead, they focused on the positive earnings season and enthusiasm for artificial intelligence as factors supporting equities.