Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, compiled by hand to exclude the clutter and ensure you get up to speed in under a minute.
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[Commodities] Tin prices have soared to a seven-year high after a manufacturing-driven buying frenzy that has drained physical stocks of the commodity. The dark grey metal, usually associated with cans, is used to make solder — the substance that binds together circuit boards and wiring.
[SPAC] LVMH founder Bernard Arnault and former UniCredit chief Jean Pierre Mustier are creating a special purpose acquisition vehicle called Pegasus to invest in European financial companies, joining the $100 billion SPAC boom. According to a person familiar with the matter, Pegasus will look to raise in the low hundreds of millions of euros, and JPMorgan is said to be advising.
[Economy] The World Trade Organization picked its first female leader on Monday, offering a fresh start to an organization seeking to revive its influence over global economic rules. The WTO's 164 members unanimously backed former Nigerian Finance Minister Ngozi Okonjo-Iweala, an economist who also rose to the World Bank's top ranks a decade ago as director-general.
[EV] British luxury carmaker Jaguar Land Rover (JLR) says its Jaguar luxury brand will be all-electric by 2025. This follows a trend of other brands such as General Motors (GM) committing an all-electric lineup.
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