GLOBAL UPDATES
UK Targets Talent With Work Visas for Graduates of Top Schools (Bloomberg)
- The UK government has announced plans to grant work visas to recent graduates of the world’s top universities in a bid to attract talent in the post-Brexit world.
- Targeted at recent graduates of high-ranking universities, the UK will let people from all over the world work for two to three years. Twenty US universities are included, including Harvard, Yale and the Massachusetts Institute of Technology.
Top Thai Banks Said to Weigh Stake Sale in Data Center Operator (Bloomberg)
- Shareholders of Supernap Thailand, including Siam Commercial Bank and Kasikorn Bank are working with a financial adviser to help find a minority investor in the business.
- Supernap Thailand, which was a joint venture formed in 2016 between some of the country’s biggest firms and US data center giant Switch Inc., could be valued at about $800 million in a transaction. The original JV invested $300 million in the country’s eastern province Chonburi.
BYD to buy six lithium mines in Africa (Technode)
- Chinese automaker BYD plans to buy six lithium mines in Africa and is close to reaching a deal with respective parties.
- BYD estimates the mines will produce about 1 million tons of lithium carbonate. The deals would give BYD enough raw material to build at least 27.78 million electric vehicles, a production yield that can satisfy demands for the automaker for the next ten years.
- The cost of battery-grade lithium carbonate has increased more than fourfold in the past year, according to the Lithium Price Index from Benchmark Mineral Intelligence.
Apple will reportedly move some iPad capacity to Vietnam after China lockdowns (CNBC)
- Apple is reportedly moving some of its iPad production to Vietnam from China after supply chain disruptions stemming from coronavirus lockdowns in and around Shanghai caused global repercussions.
- Apple has also asked some component suppliers to bulk up their inventories to guard against future supply chain snags, Nikkei Asia reported Wednesday.
- Supply chain woes have clearly affected the company. In its second quarter, Apple iPad revenue was down 1.92% year over year. CEO Tim Cook said the segment had “very significant supply constraints” during the quarter.
By Business Intelligence and Strategic Communication Office, CPG