The Cobalt Rush

Mining companies (such as Canadian FirstCobalt)  are looking at sites in Idaho, Montana and Alaska in search of cobalt, a key component of lithium ion batteries used in electronic devices and electric cars (consumption of which is expected to rise 8%-10% per year). 

The DRC (capital city Kinshasa) is currently the largest producer of cobalt. Australia is the other big producer.

Having new sources of the mineral will diversify cobalt consumers' geopolitical risk. There is currently research (e.g. at UCB) into batteries that do not require large amounts of cobalt (Materials Science and Engineering). 

The Cobalt Institute exists to promote sustainable and responsible use of cobalt.

BP Buys $10.5bn US Shale Assets

Bob Dudley, CEO of BP, called the deal a "transformational acquisition" for its "Lower 48" business and is the largest investment BP has made since the Deepwater Horizon incident, where it was lumbered with a $65bn clean up bill (shares fell 1.7% on the announcement). BP is buying the assets from Australian BHP Billiton (who in turn acquired the assets from its acquisition of Petrohawk Energy Corporation in 2011, initially known as Beta Oil and Gas).

"US Consumer" credited for JP's 8.3bn USD Q2 2018 Profits

This is an 18% increase from 2017 and just shy of its record $8.7bn profit in Q1. Dimon said "consumer and business sentiment is high" in the US. There are concerns about "flattening of the yield curve", with the Fed raising short-term rates, but keeping long-term rates more or less stable, which could be a precursor to economic slowdown. Citi also posted strong results but Wells Fargo came in below expectations.

Chevron to Follow Shell, BP and ConocoPhillips in putting North Sea assets up for sale

Chevron's various platforms including Alba and Britannia are included in the plans. Chevron was one of the first companies to drill in the North Sea in 1964, however they have been lately turning more towards shale extraction, including exploitation of Texas' Permian basin. Mike Wirth leads the company as CEO, having joined Chevron as a design engineer.

Qatar Said to be Buying New York's Plaza Hotel for $600m

The Plaza Hotel on Fifth Avenue (Central Park South) in midtown Manhattan, which opened its doors in 1907, is currently 75% owned by Sahara India with the remainder owned by Kingdom Holdings.
It is down the road from the Ritz-Carlton Central Park.

Qatar's Katara Hospitality is said to be buying full ownership, would add an iconic American hotel to its collection. Katara's investments include 50% holding in The Savoy and an investment in The Connaught in London.