Beijing’s Stimulus Measures Insufficient to Revitalize China’s Economy
Valerio Baselli: Hello and welcome to Morningstar. Volatility is back in China. Chinese stocks jumped by over 10% as trading restarted after the Golden Week holiday, but fell back right after. Investors now hope to get more information and above all wonder if the government plans to support economic growth will be enough to revive […]
API Data Shows Significant Increase in U.S. Crude Oil Inventories
API data reveals huge rise in US crude oil inventories Crude oil inventories in the US rose by 10.9mbbl during the week ended 4 October, data from the API showed. The body, the largest US trade association for the oil and gas industry, reported that gasoline inventories fell by 557,000bbl. Meanwhile, distillate inventories also declined […]
Our Perspective on the Major Rally in China’s Real Estate Market
We think the recent buying frenzy in China real estate names was induced by incremental policy easing and investors’ reignited sentiment, rather than a rebound in durable home demand. While policy relief has lifted home sales in select key cities, this may be short-lived as home price weakness will likely persist amid oversupply. We also […]
Wall Street Climbs Toward Record Highs Following Shanghai’s Biggest Decline Since Early COVID
Wall Street rises toward records after Shanghai’s worst drop since early COVID New York – U.S. stocks are holding firm Wednesday following the latest scary swerves for markets in China. The S&P 500 was up 0.5% in midday trading and on track to top its all-time high set last week. The Dow Jones Industrial Average […]
Gold (XAU/USD) Revisits $2500/oz Mark Ahead of Powell’s Remarks at Jackson Hole
Gold (XAU/USD) Retests $2500/oz Ahead of Powell’s Jackson Hole Remarks Gold prices retest $2500/oz ahead of Fed Chair Powell’s Jackson Hole speech. Gold’s rebound in the European session and technical analysis suggest bullish momentum. September rate cuts likely already priced in. What impact will Powell’s remarks have? Most Read: Japanese Yen Price Action Ideas: USD/JPY, […]
China’s Finance Ministry to Announce CNY2 Trillion Fiscal Stimulus Package on October 12
China’s Finance Ministry set to announce CNY2 trillion fiscal stimulus package on Oct 12 Reuters reported on Wednesday that China’s Finance Ministry is set to roll out a 2 trillion Yuan fiscal stimulus package on October 12. The fiscal stimulus will be announced to support economic growth so that they can achieve a 5% Gross […]
£1.9 Billion Annual Investment Urged for Transitioning Oil and Gas Workers to Clean Energy Careers
Call for £1.9bn a year to help oil and gas workers move into clean energy Climate groups are calling for £1.9 billion a year to support offshore oil and gas workers and communities through the shift to renewable energy. In a move endorsed by leading UK trade unions, 65 organisations have written to Chancellor Rachel […]
Mali Pursues $500 Million in Unpaid Taxes and Dividends from Barrick – Report
The demands on Barrick follow an audit of mining contracts last year and a subsequent push by Mali to renegotiate agreements with mining firms, including B2Gold (TSX: BTO), Resolute Mining (ASX, LON: RSG) and Allied Gold (TSX: AAUC), to channel a greater share of revenues into state coffers under a new mining code. Under the […]
North Dakota’s Future Governor Dismisses Oil and Gas Connections and Conflict Issues • Minnesota Reformer
North Dakota’s likely next governor brushes off oil and gas ties, conflict concerns • Minnesota Reformer This article was produced for ProPublica’s Local Reporting Network in partnership with the North Dakota Monitor. Sign up for Dispatches to get stories like this one as soon as they are published. When Republican Kelly Armstrong filed his federal financial disclosure after […]
Zijin Mining Acquires Newmont’s Ghana Gold Mine for $1 Billion
Akyem’s open pit mine held 34.6 tons of reserves as of December, according to the filing. Underground operations are expected to begin from 2028, extending the mine’s life to 2042 and delivering about 5.8 tons of gold a year. The Fujian-based mining giant extracts gold, copper and lithium from across the globe after an exploration […]