FTSE climbs as US debt limit approved and energy majors get set to meet Business Secretary

FTSE 100 opened in the green as investors were relieved by the US approval of a temporary lift to the US$28 trillion debt limit to avoid a default. London’s main index added 14 points to 7,092 in early trading.

 

Business Secretary Kwasi Kwarteng is scheduled to meet representatives of industry’s big energy users. Businesses asked the government to help keep the costs down to avoid shutting down operations.

 

Tesla is moving its headquarters from San Francisco in California to Austin, Texas. Elon Musk said the move will allow it to scale up operations more easily.

 
() () is acquiring one of Canada’s largest independent freight carriers for £210mln. Mid-Nite Sun Transportation, which operates as Rosenau Transport, will be integrated into the group’s GLS business.

 
() shares got off to a fast start on their market debut on Friday, rising 15p to 196p. The “fast-casual” Mexican restaurant group came to the market after placing shares at 181p a pop at the end of last month.

() () unveiled plans to invest US$1.4mln into Sturdy Exchange, a marketplace to display, collect and trade NFTs created by artists and performers. It’s part of a seed round to raise a total of US$20mln by Sturdy Exchange, which is incorporated in the US.

() () highlighted the significant update to the mineral resource estimate (MRE) at the Thacker Pass lithium project, in which it holds a 60% interest in a gross revenue royalty. (, ) , which operates Thacker Pass in Nevada, put out a statement more than doubling the size of the MRE.