The union at BHP 's Escondida mine in Chile, the world's biggest copper mine, has told the company it should prove its willingness to negotiate by Monday morning if seeks to strike a deal with workers ahead of a pending strike, according to an internal union communication obtained by Reuters.Workers last week voted to reject the company's final wage offer and approved a strike, but either party ca...Read More
Investing.com - Oil traders will continue to focus on a slew of bearish factors affecting the market in the week ahead, including emerging evidence of oversupply and renewed worries over a slowdown in global demand.Crude prices have been on the backfoot recently, with WTI posting its fifth straight weekly loss on Friday, while Brent suffered its fourth week of declines in five, amid reports of fas...Read More
Investing.com - Gold prices look likely to remain vulnerable to the stronger dollar this week, as expectations for additional U.S. interest rate hikes this year underpin demand for the greenback.There aren’t many major events coming up on the economic calendar, but Friday will see an update on consumer prices for July, which will be the week’s most closely watched U.S. data release.Gol...Read More
Investing.com - Escalating trade rhetoric will keep investors on their toes in the week ahead, as they watch further developments in the ongoing trade war between the United States and China.Trade-war fears have been simmering for months, keeping market gains in check with investors jittery over the prospects of further escalation in tensions between the world's two largest economies having an imp...Read More
Gold, base metals downCapital marketsWhether an oversight or a reflection of the political correctness that seems to have infected every aspect of life, it is ironic in the extreme that the one commodity performing strongly in a pe...Read More
Researchers at the National High Magnetic Field Laboratory in Florida have discovered a behavior in materials called cuprates that suggests they carry current in a way entirely different from conventional metals such as copper.Also known as "strange metals," cuprates are high-temperature superconductors that can carry current without any loss of energy at somewhat warmer temperatures than conventi...Read More
Canada's Pan Global Resources (TSXV: PGZ) is ready to start drilling at its 16,333-hectare ??guilas project, located 100 kilometres north of Cordoba in the territory of Andalucia, southern Spain.According to local media, Pan Global's 70-per-cent-owned subsidiary Minera ??guilas has received the necessary permits to start its exploration campaign in the first two sections of the eight-block site. T...Read More
KOCHI, India, Aug 4 (Reuters) - Myanmar could export as much as 20 tonnes of gold in 2019 after the Southeast Asian country earlier this year permitted exports of the precious metal for the first time in five decades, a senior industry official said on Saturday.A pick-up in legal exports will reduce the smuggling of gold to India, China and Thailand, and allow Myanmar to earn revenue from the mini...Read More
(Adds details, background)NEW DELHI, Aug 4 (Reuters) - India said on Saturday that delayed higher tariffs against some goods imported from the United States will go into force on September 18.New Delhi, incensed by Washington's refusal to exempt it from new tariffs, decided in June to raise import tax from August 4 on some U.S. products, including almonds, walnuts and apples, and later delayed the...Read More
NEW DELHI, Aug 4 (Reuters) - Two Romanian nationals were arrested in New Delhi on Saturday on suspicion of hacking into the accounts of more than 300 ATM users across India, police said.The men are believed to have stolen about three million rupees ($44,000) from ATMs in the eastern city of Kolkata alone and the total amount could be higher, said Praveen Tripathy, joint commissioner of police in t...Read More
* Russia and OPEC output increases dampen market* Iran oil exports will still have outlet in China* U.S. oil drillers cut two oil rigs to 859 - Baker Hughes (Adds settlement prices and CFTC data)By Jessica Resnick-AultNEW YORK, Aug 3 (Reuters) - Crude futures pulled back on Friday, giving up gains from the previous session as trade concerns weighed on the market and fueled concerns about demand.U....Read More
NEW DELHI, Aug 3 (Reuters) - India has asked Britain to extradite billionaire jeweller Nirav Modi, one of the main accused in the $2 billion loan fraud at state-run Punjab National Bank (PNB).Modi's whereabouts have been unknown since PNB PNBK.NS in January said that two jewellery groups headed by Modi and his uncle, Mehul Choksi, defrauded the bank for years by raising foreign credit using fake...Read More
* NSE, BSE snap 2 sessions of losses* Financials, consumer stocks leadAug 3 (Reuters) - Indian shares ended 1 percent higher on Friday, reversing two sessions of losses, on gains in financial and consumer stocks, buoyed by a favourable weather forecast for the remainder of the monsoon.The benchmark BSE index .BSESN closed up 1.05 percent at 37,556.16 after losing close to 500 points in the last tw...Read More
(Bloomberg) -- China’s proposal to add a new round of tariffs on $60 billion worth of goods it imports from the U.S. -- retaliation for expanding lists of tariffs by the Trump administration -- is only hitting one commodities sector hard: liquefied natural gas shipments.A roundup of the tariff effects on commodities is below.LNGChina is proposing a 25 percent tariff on imports of U.S. liquef...Read More
(Bloomberg) -- China’s proposal to add a new round of tariffs on $60 billion worth of goods it imports from the U.S. -- retaliation for expanding lists of tariffs by the Trump administration -- is only hitting one commodities sector hard: liquefied natural gas shipments.A roundup of the tariff effects on commodities is below.LNGChina is proposing a 25 percent tariff on imports of U.S. liquef...Read More
By Sudarshan VaradhanNEW DELHI, Aug 3 (Reuters) - India's Goa state on Friday passed a resolution asking the state's chief minister to push the federal government to amend laws to restart mining across the state, a state lawmaker said, months after the country's top court quashed mining permits.The resolution seeks to amend laws in Goa so that existing miners can continue to extract ore for about...Read More
Investing.com - Gold prices were higher on Friday after disappointing jobs data pushed the U.S. dollar lower.Comex gold futures for August delivery rose 0.57% to $1,227.10 a troy ounce as of 10:58 AM ET (14:58 GMT), but still remained near two-week lows. A stronger dollar and rising interest rates have weighed on gold in recent months.Meanwhile, the number of jobsadded to the economy was less than...Read More
(Refiles to correct bullet on MSCI ACWI and time on U.S. payrolls)* MSCI ACWI up by 0.1 percent, trade worries cap gains* Dollar turns negative after hitting 3-week high* Yuan gains after central bank says will keep ccy stable* U.S. payrolls due at 1230 GMT* Italian government worries hit bonds, bank stocksBy Ritvik CarvalhoLONDON, Aug 3 (Reuters) - World stocks climbed on Friday, driven by a comb...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* MSCI ACWI drifts lower on trade worries* Dollar hits 3-week high* Italian government worries hit bonds, bank stocks* Oil slips* Copper falls for third dayBy Ritvik CarvalhoLONDON, Aug 3 (Reuters) - World stocks drifted lower on Friday as the latest exchange of trade threats between the United States and China dampened risk appetite, while...Read More
(Adds company news items and futures)Aug 3 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 42 points on Friday, according to financial bookmakers, with futures up 0.4 percent ahead of the cash market open.* IAG: British Airways-owner IAG ICAG.L posted a 6 percent rise in quarterly profit and said it was on track for growth in 2018, although it took a hit from the disruption caused by...Read More