Prysmian Daily News Update

BHP backs off Anglo as AI boom lifts Alphabet - Nov 24, 2025


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As of November 24, today’s news highlights relevant developments in corporate mergers and acquisitions, particularly in the mining sector, as well as advances in artificial intelligence and geopolitical affairs. BHP today abandoned a last-ditch effort to buy rival Anglo American and bolster its dominance in copper, just two weeks before Anglo and Teck Resources' shareholders were set to vote on a 60 billion dollars merger. BHP said it would no longer pursue a potential combination with Anglo after preliminary discussions with the board. Meanwhile, Alphabet closed in on a 4 trillion dollars valuation today, set to become only the fourth company to enter the exclusive club, as the Google parent rides an artificial intelligence-driven rally. In other market news, China has expressed a desire for closer ties with Germany amid tensions regarding rare earth exports that have impacted German production. The discussions between Chinese Premier Li Qiang and German Chancellor Friedrich Merz indicate a push to stabilize economic relations following earlier discord over export restrictions. Artificial intelligence continues to be a key topic, with a prominent Russian executive likening its burgeoning influence to that of nuclear technology, underscoring the competitive landscape among nations aiming to develop original AI models critical for national interests. In broader economic updates, stock markets reacted positively to Iberdrola’s tender offer to take Brazil's Neoenergia private, with shares climbing over 7.5%. Additionally, U.S. copper inventories have reached an all-time high as favorable price dynamics attract more metal into the country. Current trends reflect a significant premium for Comex copper, which has prompted a substantial increase in inventory over the past year. On the international front, U.S. and Ukrainian officials are reportedly refining a peace plan to address the ongoing conflict in Ukraine, a move welcomed by some allies amidst ongoing discussions. As geopolitical tensions continue, the implications of these developments remain critically important to monitor.
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Prysmian Daily News UpdateBy Prysmian S.p.A.