Afternoon Coffee: Rumors of Amazon-Target Merger Swirl, Canada Looks to Cash in on Cobalt

Hoda Bogdan/Adobe Stock

An influential technology analyst made waves Wednesday with a bold declaration: “Amazon will acquire Target” in 2018. As Business Insider reports, Loup Ventures analyst Gene Munster predicted Amazon’s quest to conquer retail would spread to the Minneapolis, Minnesota-based chain, a move that would increase its physical store presence closer to that of rival Walmart.

Canadian Cobalt

Finding a socially responsible source for cobalt has been easier said than done for automakers. But a handful of Canadian miners are trying to change that, the Wall Street Journal reports, by raising funds and engaging in exploratory drilling that they hope will offer a viable alternative to sources such as the Democratic Republic of Congo.

Australian Cannabis

Australia announced Thursday it planned to become the fourth country in the world to legalize medicinal marijuana exports, according to CNBC. The move opens the country to a $55 billion global market, and growers have full support of the government as Australia opts to become “the world’s number one exporter of medicinal cannabis.”

Factory Data 

And finally, an economic update: US factory activity jumped to a reading of 59.7 on the Institute for Supply Management’s index, Reuters reports, its second-highest reading in six years.

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