Investing.com - Here are the top five things you need to know in financial markets on Friday, September 28:1. Tesla (NASDAQ:TSLA) CEO Gets Sued by the U.S. Securities and Exchange CommissionShares of luxury car maker Tesla are likely to be under pressure in trading on Friday, as the stock plunged 10.64% in premarket trading on news that CEO Elon Musk is being sued.The U.S. Securities and Exchange...Read More
* U.S. sanctions on Tehran limiting Iranian crude supply* Sinopec halves Iran oil loadings under U.S. pressure -sources* Saudi Arabia will pump more to fill deficit, sources say* U.S. oil drillers add fewest rigs in quarter since 2017(Adds CFTC data in paragraph 6)By Stephanie KellyNEW YORK, Sept 28 (Reuters) - Oil prices rose more than 1 percent on Friday, with Brent climbing to a four-year high,...Read More
* Mining firms have criticised about high operating costs* Protesters complain about graft as budget announced* Western donors worried about debt, transparency (Adds analyst comments)By Chris MfulaLUSAKA, Sept 28 (Reuters) - Zambia will introduce new mining duties and increase royalties to help bring down mounting debt, the finance minister said on Friday, a move likely to draw opposition from min...Read More
(Corrects percentages of sliding scale for royalties in 9th paragraph)* Western donors worried about debt, transparency* Zambia hikes mining taxes to tackle high borrowing* As budget announced, protesters complain about graftBy Chris MfulaLUSAKA, Sept 28 (Reuters) - Zambia will introduce new mining duties and increase royalties to help bring down mounting debt, the finance minister said in a budge...Read More
Investing.com - Gold prices were slightly higher on Friday, but still remained near a six-week low as the greenback continued to rally from the Federal Reserve’s interest rate hike and strong economic data.Comex gold futures for December delivery inched up 0.20% to $1,189.80 a troy ounce as of 9:22 AM ET (13:22 GMT), on track for a 1.7% loss for September.Gold suffered after the Fed increase...Read More
LONDON, Sept 27 (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.1/IF NOT 4Q The fourth quarter gets underway on Monday, the time of year when investors hope things quieten down and allow them to lock in the profits they've accrued throughout the year. That's the theory, but in actual fact they...Read More
(Bloomberg) -- Swiss asset manager and commodities trader Tiberius Group AG is stepping into the $215 billion digital coin market by offering a new token backed by seven metals in a sale set for Oct. 1.Aiming to distinguish its Tiberius Coin from the thousands that have no reference value, the company plans to make a market in the asset so that its value holds close to that of a price of a basket...Read More
Shares in Ecuador-focused explorer SolGold (LON, TSX:SOLG) dropped Friday in Toronto after the company reported an annual loss that almost doubled the one registered in 2017.For the 12 months to June, SolGold's pre-tax loss was A$15.3 million, compared to $8.3 million it recorded a year before.The stock fell 3.2% in Toronto to 60 Canadian cents by 10:05 local time, despite the company also saying...Read More
Swiss asset manager and commodities trader Tiberius Group AG is stepping into the $215 billion digital coin market by offering a new token backed by seven metals in a sale set for Oct. 1.Aiming to distinguish its Tiberius Coin from the thousands that have no reference value, the company plans to make a market in the asset so that its value holds close to that of a price of a basket of copper, alum...Read More
NEW DELHI, Sept 27 (Reuters) - The Indian finance ministry expects robust economic growth despite the fall in the rupee INR= and rising crude oil prices, a government source said on Thursday.The source said the ministry would soon announce steps to boost exports, while not ruling out more import curbs.The finance ministry saw no impact on Indian airlines from its decision to impose a 5 percent dut...Read More
* U.S. sanctions against Iran to start Nov. 4* Analysts say $100 oil is possible as markets tighten* Oman crude futures spike: https://tmsnrt.rs/2zxsGtm* U.S. crude output hits record: https://tmsnrt.rs/2N2OAYQ (New throughout, updates prices, market activity and comments to settlement)By Jessica Resnick-AultNEW YORK, Sept 27 (Reuters) - Oil edged higher on Thursday, driven by the prospect of a sh...Read More
Investing.com - Oil prices were hovering near the $82 a barrel level on Thursday, close to the four year highs reached earlier in the week amid fears of a supply shortage as the U.S. prepares to re-impose sanctions on Iran from Nov. 4.London traded Brent crude futures were up 0.71% to $81.36 a barrel from their last close by 07:51 AM ET (11:51 AM GMT), holding below the high of $82.55 reached Tues...Read More
* FTSE 100 up 0.5 pct* Higher crude lifts oil stocks, hits airlines* TUI sticks to forecasts, shares gain (Adds details, closing prices)By Danilo MasoniMILAN, Sept 27 (Reuters) - Britain's top share index rose on Thursday to a four-week high, helped by a drop in sterling, while continued weakness in basic materials stocks weighed.The FTSE 100 .FTSE gained 0.5 percent as the pound was held back by...Read More
(Repeats to add additional credit; no changes to text)By Sudarshan Varadhan and Aditi ShahNEW DELHI, Sept 27 (Reuters) - Hundreds of workers at motorbike companies including Yamaha Corp 7951.T and Eicher Motors EICH.NS are on strike in the southern Indian city of Chennai, demanding better wages and a right to form unions to defend their interests.Employees said the companies had employed a large...Read More
By Sudarshan Varadhan and Aditi ShahNEW DELHI, Sept 27 (Reuters) - Hundreds of workers at motorbike companies including Yamaha Corp 7951.T and Eicher Motors EICH.NS are on strike in the southern Indian city of Chennai, demanding better wages and a right to form unions to defend their interests.Employees said the companies had employed a large number of contract workers to get around rigid Indian...Read More
Investing.com - Gold prices dipped below the psychologically important $1,200 level on Thursday, finding little support after the Federal Reserve raised interest rates and indicated that it remains on track to continue monetary tightening into next year.The Fed raised interest rates by a quarter point to 2.25% on Wednesday, its third rate hike this year and its eighth since 2015.In its statement,...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 little changed* Higher crude lifts oil stocks, hits airlines* TUI sticks to forecasts, shares gainBy Danilo MasoniMILAN, Sept 27 (Reuters) - The UK's top share index eased on Thursday, weighed down by weaker financials and materials stocks, but strength in oil majors helped contain the losses.The FTSE 100 .FTSE was...Read More
CALGARY, Alberta, Sept.28, 2018(GLOBE NEWSWIRE) -- Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU - OTC-Pink: CPFXF) is pleased to announce that its unaudited interim consolidated July 31, 2018 financial statements have been filed on SEDAR. All of the Company's material subsidiaries are wholly owned, except for District Copper Corp. (formerly named Carmax Mining Corp.) ("Dist...Read More
After more than a year of evaluation, Chile's environmental authority has approved the development of what it would be Latin America's largest desalination plant, to be built in the country's dry Atacama region.The Energy and Waters of the Pacific (ENAPAC ) project, developed by Trends Industrial, was mainly designed to supply water for industrial use, particularly in the mining sector, and carrie...Read More
Freeport McMoRan (NYSE:FCX) and Rio Tinto (LON:RIO) signed Thursday final agreements that give Indonesia a majority stake in their Grasberg copper mine, the world's second-largest, and which would be transferred to the state-owned mining company PT Indonesia Asahan Aluminium (Inalum).The "definitive" and "binding" agreements end a long-drawn-out, three-way dispute over the mine, centred on bring...Read More