(Bloomberg) - South Africa will give mining companies credit for past black-empowerment deals even when the investors later sold their shares to whites or foreigners, removing a major concern for the industry.The country's new Mining Charter, which is aimed at distributing South Africa's mineral wealth more widely, will apply the "once empowered, always empowered" principle as long they met the p...Read More
The Fed raised rates yesterday, as I predicted months ago. I don't say this to pat myself on the back.The point is, I use a rigorous scientific method to analyze and predict markets.Continue...Read More
BEIJING (Reuters) - Having reduced the amount of reserves that lenders must hold just two months ago, China’s central bank could soon do it again to support a slowing economy and contain risks posed by corporate debt defaults, policy sources said.A three-year deleveraging drive is making progress, but has also driven up borrowing costs and tightened credit, seen as a factor in some private d...Read More
"We do support them, we will continue to support them, and... [we] will be looking at the level of that support in the future," Continue...Read More
The economy in the second quarter is tracking near 4 percent growth - a number President Donald Trump predicted last December, right before the tax bill was approved. Continue...Read More
UK domestic prices for austenitic alloy steel scrap decreased this week on slowing demand and a fall in the price of nickel toward the close of last week.On Friday June 15, the London Metal Exchange three-month official nickel bid/offer spread was $15,330/15,350 per tonne, up slightly from $15,300/15,305 per tonne on June 8. However, this was down from the June 7 price of $15,755/15,760 per tonne,...Read More
WASHINGTON (Reuters) - AT&T Inc, the No. 2 wireless carrier, on Thursday closed its $85 billion deal to acquire media company Time Warner Inc after U.S. antitrust regulators indicated they would not seek a delay.The deal, first announced in October 2016, was opposed by President Donald Trump. AT&T was sued by the Justice Department, but won approval from a judge to move forward with the de...Read More
You'll never guess the world's most expensive city. It's not Zurich. It's not Tokyo. It's not Seoul, either. No. It's Caracas, Venezuela. Strange, huh? Continue...Read More
Gold briefly fell below $1280 on Friday only to recover somewhat after the official market closeContinue...Read More
Turkish scrap import prices recovered in the week ended Friday June 15 on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.East Coast fob prices in the US were up due to the Turkish demand. Taiwan import prices rose similarly, wi...Read More
The Russian government has approved a strategic agreement with China on to develp the Klyuchevskoye gold ore deposit in the Trans-BaikalContinue...Read More
Bob Moriarty of 321 Gold, in a wide-ranging conversation with Maurice Jackson of Proven and Probable, discusses issues from North Korea to Bitcoin. Maurice Jackson: Joining us for a conversation is Bob Moriarty, the founder of 321gold, and 321energy.com, and the author of two of my personal favorite books, "The Art of Peace," and "Nobody Knows Anything." Welcome to the show. I recall when Preside...Read More
HONG KONG (Reuters) - Shares of ZTE Corp (0763.HK) (000063.SZ) plummeted on Friday on renewed worries of a trade war and the Chinese telecommunications giant has now lost 30 percent of its market value since share trading resumed this week.U.S. President Donald Trump is due to unveil revisions to his initial tariff list targeting $50 billion of Chinese goods on Friday, reigniting concerns of a ful...Read More
Slab export prices from Brazil have increased this week due to renewed demand from clients in the United States.Metal Bulletin's weekly assessment of Brazil slab export prices was $590-600 per tonne fob on Friday June 15, up from $580-590 per tonne last week.Several deals were reported within the range of $590-600 per tonne fob this week, with companies keeping their focus...Read More
China's domestic rebar prices were unchanged on Friday June 15 and trading activity was subdued as futures declined.Domestic Eastern China (Shanghai): 4,140-4,180 yuan ($647-653) per tonne, unchanged Northern China (Beijing): 3,950-3,980 yuan per tonne, unchanged Buyers cut procurement rates as futures kept their downward trend in early trading after Thursday night's losses. Traders maintained the...Read More
DATA stock was overdue for some bullish brokerage attentionSubscribers to Schaeffer's Leverage Trader doubled their money with the Tableau Software Inc (NYSE:DATA) June 85 call recommendation. We're going to take a look back to see why we were initially bullish on the tech stock, and how the options trade unfolded.At the time of our recommendation on May 8, Tableau Software was outperforming,...Read More
Sinking oil prices also weighed on the stock market todayThe Dow stumbled across the finish line on this quadruple witching Friday, dragged lower amid re-ignited trade war fears. The blue-chip benchmark was down 280 points at its session lows, after President Donald Trump announced additional tariffs of 25% on up to $50 billion in Chinese goods. Energy stocks were notable losers today, falling wit...Read More
Key data from the pricing session in the week ending Friday June 15.China Chinese domestic ferro-chrome market strengthens further owing to tightened supply following a new round of environmental inspections in 2018. Higher prices reported for imported charge chrome this week, buoyed by fuel costs increase in winter of South Africa and supply disruptions during maintenance period...Read More
Disappointing trial data sent drug stock AMFD lower as wellStocks are trading lower today, as China tariffs and falling oil prices weigh. A few names making big moves todayinclude Chinese streaming service iQIYI, Inc (NASDAQ:IQ),drug concern Affimed NV (NASDAQ:AFMD) and apparel stock Canada Goose Holdings Inc (NYSE:GOOS). Below, we will take a closer look at howshares of IQ, AFMD, and GOOS ar...Read More
Oil prices got clobbered ahead of next week's OPEC meetingThe S&P 500 Index (SPX) and Dow Jones Industrial Average (DJI) have both pulled back this week, failing to keep up with the red-hot Nasdaq Composite (IXIC). The tech-heavy index is about to wrap up a fourth straight weekly win, its second such streak of 2018, touching new record highs in the process. Meanwhile, the Russell 2000 Index (RUT)...Read More