Copper Futures Surge as Short Squeeze Grips NY Market
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in other regions to US shores.
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Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in other regions to US shores.
A new method for private equity funds to return profits to investors may gain traction in India.
A unit of Hive Energy Ltd. says a group led by Japanese trading house Itochu Corp. is nearing an agreement to buy green ammonia from a project in South Africa.
Sumitomo Mitsui Financial Group Inc. and rival Mizuho Financial Group Inc. forecast record profits for the year started in April, after the country’s central bank ended its policy of negative interest rates.
Burberry Group Plc warned of a challenging first half after the British maker of trench coats reported tumbling sales on weak demand in China and the US.
The European Central Bank is very likely to start cutting interest rates at its next policy meeting in June, Bank of France Governor Francois Villeroy de Galhau said.
Sweden’s underlying inflation held steady last month in a vindicating sign for the Riksbank, which last week became the second major developed-world central bank to cut interest rates.
Commerzbank AG upgraded its outlook for lending income this year after recording its best quarterly profit in more than 10 years.
A consortium of investors including Blackstone Inc. offloaded shares worth about £1.6 billion ($2 billion) in London Stock Exchange Group Plc, exiting a stake the group inherited when the bourse bought data services firm Refinitiv in 2021.
The Biden administration is working to send an additional Patriot air-defense battery to Ukraine, people familiar with the matter said, as the US and its allies scramble to meet the country’s demand for more weapons to repel an intensified Russian assault.
Romania’s economy expanded at a slower pace than expected in the first quarter in the latest sign of sluggish recovery across the European Union’s east.
British personal computer maker Raspberry Pi has announced that it is considering a London initial public offering, in what would be a coup for the UK capital after several UK firms chose to list in the US.
OpenAI Chief Scientist and co-founder Ilya Sutskever is leaving the artificial intelligence company, a departure that ends months of speculation in Silicon Valley about the future of a top AI researcher who played a key role in the brief ouster of Sam Altman last year.
Sales of new homes in Singapore fell after a brief surge, in a sign of fragile sentiment in the nation’s once-booming property market.
Foreign investors are the most pessimistic in over a decade on Indian stocks amid speculation over Prime Minister Narendra Modi’s party winning fewer seats in the ongoing national elections than previously estimated.
Allianz SE reported 6.8% higher profit for the first quarter amid strong results from the non-life insurance business and inflows at its bond manager Pacific Investment Management Co.
BNP Paribas SA is no longer participating in conventional bond issuance for the oil and gas sector, as the European Union’s largest bank expands its list of restrictions on fossil-fuel clients.
Avendus Group named veteran private banker Apurva Sahijwani as the new chief executive officer for its wealth management business as it expands services for family offices and India’s wealthy.
Global equities are set for a fresh record after a big tech-led rally in US gauges, with investors awaiting key inflation data for clues on the Federal Reserve’s policy.
Oil advanced after an industry report showed shrinking US stockpiles, and traders looked ahead to a report from the International Energy Agency that may shed light on market balances into the second half.
The payments industry is pushing back against the UK’s plans to force firms to reimburse scam victims, saying the maximum refund of £415,000 ($520,760) is “simply not proportionate” and could damage smaller fintechs.
China said it would sanction five Taiwanese political commentators and roll out a law to punish “separatists,” moves aimed at piling pressure on incoming president Lai Ching-te just days before he takes office.
China blasted the Biden administration’s move to increase US tariffs on a wide range of Chinese imports, vowing to take its own action, without giving specifics.
ABN Amro Bank NV’s first-quarter profit beat estimates as lending income remained resilient and the bank kept aside fewer funds for souring loans than analysts had expected.
Finland probably exited a recession in the first quarter, according to preliminary data from one of Europe’s worst-performing economies.
Australia’s central bank is likely to keep interest rates elevated for longer, economists said, despite Tuesday’s budget forecasting inflation to fall back within the 2-3% target by year’s end, a result that would normally open the door to earlier easing.
China is considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market.
Russia’s invasion of Ukraine has hit sovereign borrowing costs for the EU’s 10 eastern members, raising the cost by around half a percentage point since the war began, according to an analysis by the European Bank for Reconstruction and Development.
Diplomats are focusing on a narrow set of goals in preparation for a summit on Ukraine’s peace plan in Switzerland next month to ensure China and other nations of the so-called Global South attend the meeting.
Global equities rose to a record high ahead of a US inflation report that may offer clues on the Federal Reserve’s interest rate path.
Global funds are snapping up India’s longer-maturity bonds in a bet the central bank will eventually become less hawkish and as they position for those securities that will be included in JPMorgan Chase & Co. indexes.
The trading hub’s fourth prime minister since independence will have to tackle cost-of-living concerns, balance US-China tensions and plan for an election after succeeding Lee Hsien Loong.
India’s largest cinema operator is in discussions to screen key matches during the International Cricket Council Men’s T20 World Cup, in a bid to lure patrons as movies continue to struggle at the box office.
Investors have boosted bets for an interest-rate hike by the Bank of Japan by July following an unexpected reduction in its bond buying during a regular operation this week.
The Yemeni government is holding back repairs on a key internet cable that’s been damaged in the Red Sea as it conducts a criminal investigation into the cable owners’ alleged ties to the Houthi militia.
South Korea’s HD Hyundai Heavy Industries Co. Ltd. will set up operations in a former US naval base in the Philippines, an investment that may usher in the return of shipbuilding there.
Macron’s grand plans and jabs at Scholz obscure the fact that Berlin is stepping up its engagement for Ukraine as France stands still.
Forecasters expect a monthly report on US consumer prices to show inflationary pressures moderated in April after three straight worse-than-anticipated readings to start the year.
Mounting price pressures from the resurgence of the dollar, foreign-currency crunches and adverse weather conditions are set to lead to delayed and shallower interest-rate cuts for African central banks this year.
Prabowo Subianto’s plan to create a new state revenue agency outside of the finance ministry could do more harm than good for Indonesia’s tax collection, said Fitch Ratings.
With its full website down in an apparent hacking, the success of the New York auction was thrown into question.
China will allow visa-free entry for foreign tour groups that come to the country via cruise ships in a further bid to attract international visitors and boost its sluggish inbound travel market.
Malaysia’s sovereign wealth fund and public pension provider are considering taking Malaysia Airports Holdings Bhd. private, according to people familiar with the matter, as trading in the airport operator was suspended Wednesday.
Brazil’s President Luiz Inacio Lula da Silva has fired Jean Paul Prates, the chief executive of state-owned oil company Petroleo Brasileiro SA, following a dispute over dividend payments.
Crypto retail investors have often been the victims of hacks and scams within the industry. Now a major investment firm is on the receiving end.
AustralianSuper, the nation’s largest pension fund, has amassed a A$12 billion ($7.9 billion) critical minerals portfolio that it plans to increase in the next five years.
Prince George’s County Executive Angela Alsobrooks won the Maryland Democratic primary for Senate, according to the Associated Press, defeating US Representative David Trone, one of the richest members of Congress, in a race in which he heavily outspent his rival.
Chinese buyers are temporarily shunning Russian aluminum, as commercial realities intrude on the push to deepen bilateral trade ties.
Australia has suspended its working holiday visa program for Chinese citizens, ahead of changes which will see applicants from certain countries compete for a limited number of spaces.
China’s central bank extended a key policy loan at the same borrowing cost, signaling an intention to aid a nascent economic recovery without adding pressure on the yuan.
Australian wage growth eased for the first time since the depths of the pandemic in the first three months of the year, in a positive result for the Reserve Bank which remains watchful of price pressures in the economy.
Alphabet Inc.’s YouTube blocked videos of a Hong Kong protest song in the city, days after a local court approved an injunction order to ban the song.
MicroStrategy Inc., a company best-known for accumulating a roughly $13 billion hoard of Bitcoin, will be included in a key global equity index following a rally in the firm’s shares that outpaced the digital asset.
General Motors Co.’s autonomous taxi unit has reached an $8 million to $12 million settlement with a pedestrian who was dragged by one of its self-driving vehicles in San Francisco, according to a person familiar with the situation.
Sony Group Corp.’s stock climbed its most in more than 18 months after it announced a share buyback and a stock split and net income beat estimates in the March quarter.
US President Joe Biden’s plan to hike tariffs on Beijing’s green technology leaves room for companies to avoid duties on solar manufacturing equipment — an exemption that speaks to US reliance on Chinese-made machines to swiftly build out factories, potentially benefitting a small group of niche producers.
Australia plans to unleash a wave of spending from energy rebates to tax breaks for critical minerals and new warships as the center-left Labor government tries to win back voters ahead of an election due in a year.
Private credit firm Kadita Partners has raised more than $100 million for the first close of its maiden investment fund, according to a person familiar with the matter.
Argentina cut its benchmark interest rate for a sixth time under President Javier Milei as his government sees inflation edging lower while it shrinks the central bank’s balance sheet.
New Zealand’s population growth is slowing as the pace of inward immigration wanes and more citizens look overseas for job opportunities and better wages.
Baltimore County executive and former state representative John Olszewski Jr. won the Democratic primary for the House seat in Maryland’s 2nd Congressional District, AP projected.
Former Maryland Governor Larry Hogan won the Republican primary for the US Senate in Maryland, AP projected.
Gold steadied after rising almost 1% on Tuesday, before US inflation data that may shed light on the Federal Reserve’s rate path.
Nu Holdings Ltd., the parent of Brazil-based digital bank Nubank, reported record revenue in the first quarter while acknowledging that its growth is coming with a higher delinquency rate.
Federal Reserve Bank of Kansas City President Jeffrey Schmid said interest rates could remain high “for some time” as policymakers await evidence that price pressures are easing.
Sony Group Corp.’s stock surged its most in about 18 months after games like Helldivers 2 helped lift net income past estimates during the March quarter.
Vanguard Group Inc. named BlackRock Inc. veteran Salim Ramji as its next chief executive officer, succeeding Tim Buckley and becoming the first outsider to lead the firm famed for revolutionizing investing with the index fund.
China’s consumer and climate change-affected stocks will offer better returns than the likes of baijiu distillers given relative valuations and the weak economy, according to AllianceBernstein.
Russian President Vladimir Putin is heading to China for the first foreign visit of his new term, underlining the vital importance of the relationship as Beijing faces growing US pressure to curtail support that’s helping Moscow continue its war in Ukraine.
New York Community Bancorp, disposing of assets and freeing up cash after its rescue by investors, agreed to sell about $5 billion of loans to JPMorgan Chase & Co.
Boeing Co. has violated a deferred-prosecution agreement with the US Justice Department related to the crashes of two 737 Max airplanes, the department said, exposing the embattled planemaker to possible criminal prosecution.
A group of TikTok creators followed the company’s lead and filed their own lawsuit to block the US law that would force Chinese parent ByteDance Ltd. to divest itself of the popular video app by January or face a ban.
US Treasury Secretary Janet Yellen said new tariffs on Chinese goods would protect US firms and workers without stinging the pocketbooks of American consumers.
Google Glass — the augmented-reality headset that flopped with consumers a decade ago — is poised for a revival, thanks to artificial intelligence.
Britain’s failure to complete its sustainable finance framework is putting billions of pounds worth of funding at risk, according to a UK investor association representing £19 trillion ($24 trillion) of assets.
After almost two years of falling valuations, Europe’s commercial property slump is easing up.
UK customers spent almost 800 years in total on hold to the country’s tax authority last fiscal year, according to the government spending watchdog, which said more than half of phone calls are now going unanswered.
Chime Financial Inc., the fintech known for its fee-free banking services, is now offering consumers the option of accessing as much as $500 of their paychecks before they arrive.
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The two former Jane Street Group traders accused of stealing an Indian options-trading strategy for Millennium Management countersued their old firm, saying they left because they were disappointed in their 2023 pay packages.
Jorge Alvarez Maynez, who’s running a distant third place in voter opinion polls in the run-up to Mexico’s presidential election, is facing increasing calls to bow out and throw his support to the main opposition coalition contender, Xochitl Galvez.
JBS SA’s earnings are recovering faster than anticipated from last year’s plunge as a boost from increased chicken demand helps the world’s largest meat producer mitigate the impact of a severe shortage of cattle in the US.
Narendra Modi turned his biggest political crisis in his favor and became the most powerful man India’s seen in decades. Listen to our new podcast, The Big Take Asia.
One hotel chain in Japan has decided the only way to deal with a severe labor shortage is to double salaries to unprecedented levels.
The container ship that rammed into Baltimore’s Francis Scott Key Bridge in March lost power multiple times on both the day of the fatal accident and the day before, according to a preliminary report.
Michael Cohen came under a plodding cross-examination Tuesday by Donald Trump’s lawyer, who sought to undermine his earlier testimony that he participated in a hush money scheme to help the former president influence the 2016 election.
A recent hack of legal services provider Stretto Inc. that compromised Celsius Network LLC customer information was wider than previously known, affecting at least four firms in all.
Venezuela could withdraw an invitation to the European Union to oversee presidential elections after the group suspended some but not all sanctions on government officials.
Japanese companies are increasing dividends and share buybacks at a record pace, providing support to a market that was on the verge of a correction.
Blue Owl Capital Inc. has hired Haitham Abdulkarim to oversee the company’s institutional business in the Middle East, where he’ll focus on scaling investment and operations teams across Abu Dhabi and Dubai, according to a statement provided to Bloomberg.
The sun had already set on March 25, 2021, and Bill Hwang’s banks were still awaiting explanations.
Blackstone Inc. and Goldman Sachs Asset Management are providing the biggest portions of a roughly $900 million direct loan to Depot Connect International as it refinances more expensive private debt, according to people with knowledge of the matter.
The Biden administration is watching for any attempts by Chinese companies to export cars from Mexico into the US, and considering ways to block them if they seek to circumvent tariffs targeting electric vehicles made in China, his top trade negotiator said.
A private pilot for UK businessman Joe Lewis pleaded guilty to tax evasion after being swept up in an insider trading case involving his billionaire boss.
Goldman Sachs Group Inc. President John Waldron said the US government should not be lulled into thinking that there’s insatiable appetite for its debt.
Bruce Springsteen is joining the list of artists producing TV shows for Walt Disney Co.’s streaming platforms.
Petrobras isn’t ruling out buying a majority stake in Braskem if the petrochemicals producer is at risk of deterioration.
The embattled head of the Federal Deposit Insurance Corp. pledged to overhaul the regulator’s culture, eschewing calls to step down after a probe found that for years some employees endured sexual harassment and discrimination on the job.
Elon Musk must submit to further questioning in the US Securities and Exchange Commission’s investigation of his 2022 Twitter Inc. acquisition, a federal judge ruled.
An international group of scientists used computer models and ground observations to study the impact of global warming on the extreme temperatures.