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☆ High inflation could be here to stay as commodity prices spike again after a 2-year decline, World Bank says
▼ + stars: | 2024-04-25 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

High inflation will stay for longer as commodity prices rallied again after falling for two years, World Bank Group says. The bank expects global inflation to jump by a solid percentage point by 2024 due to the flip-flop oil prices driven by geopolitical risks. But this sluggish decline will buoy commodity prices around 38% higher than pre-COVID averages, offering little relief for inflation-weary economies. The World Bank warned that a significant disruption could propel oil prices beyond $100 per barrel, hiking global inflation by almost a full percentage point in 2024. That fear of lower growth and high inflation was on display in the US on Thursday, as first-quarter GDP came in much lower than expected even as consumer prices remained high in the quarter.

Persons: —, wanes, Indermit Gill, Ayhan Kose Organizations: World Bank, Service, World Bank Group, Bank Locations: Israel, Iran, Ukraine, Russia

☆ Tesla is headed for a new growth phase as Elon Musk is finally the 'adult in the room,' Wedbush says
▼ + stars: | 2024-04-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Tesla is back on track as Elon Musk is finally acting like the "adult in the room," Wedbush said. AdvertisementTesla stock could be headed for better days, thanks to Elon Musk finally stepping up as the "adult in the room" to calm investors as the company battles an array of headwinds, according to Wedbush Securities analyst Dan Ives. Ives pointed to Tesla's first-quarter earnings call on Tuesday, during which Musk issued firm guidance on the electric vehicle maker's strategy going forward. The company has a "golden vision" surrounding its full self-driving technology, which will be key to Tesla's strategy over the next decade, Ives added. Tesla stock surged in early trading on Wednesday, despite the company missing its revenue goal by nearly $1 billion over the last quarter.

Persons: Tesla, Elon Musk, Wedbush, Dan Ives, —, Ives, Musk, Wall, Tesla's Organizations: Elon, EV, Service, Wedbush Securities Locations: China

☆ China may be shaking out of its slump, and its economy could grow 5% this year after a surprising first-quarter performance, BofA says
▼ + stars: | 2024-04-19 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

China's breakout from its economic slump may also mean less government support ahead, BofA said. BofA doesn't expect a "a full-blown growth rebound" as real estate woes and weak demand are still a problem. AdvertisementBank of America boosted its forecast for China's economic growth in 2024 on the heels of a surprisingly strong first-quarter performance from the world's second-largest economy. AdvertisementWith a robust first quarter dataset in hand, policymakers may be less inclined to intensify easing measures, dashing hopes for imminent policy support, according to the bank. The analysts wrote that they anticipate a gradual growth deceleration through the rest of 2024 as policy support wanes.

Persons: BofA, —, Helen Qiao, wasn't Organizations: of America, Service, Bank of America, FAI Locations: China

☆ Bank of England to cut rates in May, Morgan Stanley says, retaining contrarian call
▼ + stars: | 2024-04-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The Bank of England could still cut interest rates in May, Morgan Stanley has said, in an increasingly rare call of confidence as market sentiment supporting such a move wanes. "We still entertain a May rate cut," chief economist Jens Eisenschmidt told CNBC's "Street Signs" on Wednesday, reiterating the bank's commitment to an earlier call. The Wall Street bank's contrarian view is now some way off consensus, which currently prices in an initial BOE rate cut in September, according to LSEG data. "In general, the central banks are all, to some extent, in the same boat. Morgan Stanley on Monday revised its ECB rate cut forecast, following an earlier revision in its Fed outlook.

Persons: Morgan Stanley, Jens Eisenschmidt, CNBC's, BOE, Andrew Bailey, Morgan Stanley's, Eisenschmidt, there's Organizations: Bank of England, European Central Bank, ECB Locations: City of London, London, United Kingdom, Europe, U.S

☆ Is the Boom-and-Bust Business Cycle Dead?
▼ + stars: | 2024-04-11 | by ( Talmon Joseph Smith | ) www.nytimes.com time to read: 1 min

For much of modern history, even the richest nations have been subject to big perennial upswings and crashes in commercial activity almost as fixed as the four seasons. Hiring and investment crest and fall into a contraction as consumer confidence wanes and spending craters. Sales fall, bankruptcies and unemployment rise. But a brigade of academic economists and prominent voices on Wall Street are asking if the unruly business cycle they learned in school, and witnessed in practice, has fundamentally morphed into a tamer beast. Rick Rieder, who manages about $3 trillion in assets at the investment firm BlackRock, is one of them.

Persons: Rick Rieder Locations: BlackRock

☆ Tesla's reign as EV king is fizzling, so Elon Musk has his sights set on a new goal — turning X back into Twitter
▼ + stars: | 2024-04-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Tesla's stock is down over 10% in the last year, and Elon Musk's net worth has also fallen. Lately, social media platform X has begun to look more like regular old Twitter. With his social media venture, X, that seems to mean returning to the app to the pre-Musk days of plain old Twitter. Musk and representatives for Tesla and X did not respond to requests for comment from Business Insider. "Honestly, the best thing that Twitter can do to regain its position is to sideline Musk.

Persons: Tesla, Musk, —, Elon, Gabor Cselle, CNN's Oliver Darcy, David Camp, Metaforce, Camp, X, Cselle, Ed Zitron, Kim Kardashian, Jay, Zitron, Linda Yaccarino, Yaccarino, he's Organizations: Elon, Service, Twitter, NBC News, Variety, Business, Camp Locations: China, Texas

☆ Danone CEO downplays threat of weight loss drugs on food producers: 'We see ourselves as extremely complementary'
▼ + stars: | 2024-04-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Bloomberg | Getty ImagesThe CEO of French consumer goods giant Danone downplayed the threat of obesity drugs on its food business, arguing that consumers were likely to turn to healthy products as part of their new weight loss regime. Antoine de Saint-Affrique said that surging demand for drugs like Wegovy and Mounjaro would only increase consumer appetite for more nutritional products. "We see ourselves as extremely complementary to GLP-1s," de Saint-Affrique told CNBC's Charlotte Reed Wednesday. GLP-1s, or glucagon-like peptide 1 agonists, are the underlying class of drugs in weight loss injections such as Wegovy and Mounjaro. watch nowThe rapid rise of such drugs has prompted concern among food makers, who fear falling sales as consumer appetite wanes.

Persons: Antoine de Saint, Affrique, Mounjaro, CNBC's Charlotte Reed, de, Kepler Cheuvreux Organizations: Danone SA, Bloomberg, Getty, Danone, Novo Nordisk

☆ Morgan Stanley's Adam Jonas says Tesla $100 bear case may be 'in play' now, but notable analyst still likes the stock long term
▼ + stars: | 2024-04-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

"We do not believe Tesla will get credit as an AI company as long as core auto earnings are being revised down," wrote widely-followed Tesla bull Adam Jonas. The $100 bear case suggests that Tesla could fall more than 40% from Wednesday's close. These issues could hamstring Tesla near term, but Jonas expects deliveries to find a bottom in the second quarter. In fact, he views Tesla as a combination of an auto, energy, AI and robotics stock, noting that its auto business represents only 20% of Morgan Stanley's $310 price target valuation. The $310 price target, down from a previous $320, suggests that Tesla stands to gain 84% from Wednesday's close over the next 12 months.

Persons: Tesla, Morgan Stanley, Adam Jonas, Jonas, Morgan Stanley's Organizations: Tesla Network Locations: Wednesday's, China

☆ Detroit went all-in on big, expensive EVs nobody wants. Here's what the data shows they'd rather buy.
▼ + stars: | 2024-03-31 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Read previewWhen the automotive industry started looking toward an electrified future, Detroit automakers decided to throw their hat in the ring with what they do best: Pickup trucks. Electric pickup truck pioneer Rivian has also warned of slowing growth, and Elon Musk's Tesla already appears to be offering some purchase incentives for the Cybertruck. Only four EVs sell in that range at the moment, according to Edmunds, and none of them are sold by Detroit automakers. On average, EVs sold for around $61,700 last year, $14,250 more expensive than the typical price paid for non-electric vehicles, Edmunds said. AdvertisementGM is taking another approach, pulling back on EV production as the company plans to bring more hybrids (a segment that has seen demand increase while EV demand wanes) to the North American market later this year.

Persons: —, Ford, Rivian, Elon Musk's Tesla, Edmunds, Jessica Caldwell, EVs, BCG, Jim Farley Organizations: Service, Detroit, Ford, Business, GMC, EV, Associated Press, Edmunds, Detroit automakers, Leaf, Fiat 500e, Hyundai Kona Electric, Boston Consulting Group, Bloomberg, North Locations: Detroit, Edmunds

☆ Russia could turn on Putin as the nation's economic strength wanes and sanctions keep tightening, economists say
▼ + stars: | 2024-03-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Russia's economic strength is likely to wane this year, economists say. Putin's economic fantasyThe tailspin Sonnenfeld, Tian, and Guriev are predicting seems contradictory to what Russia is presenting on the surface. Russian inflation is also high, clocking in at 7.58%, according to data from Russia's economic ministry. Guriev doesn't believe Russia's economy will completely unravel, as central bankers will work hard to limit the damage. Advertisement"It's unlikely the Russian economy will spiral into a macroeconomic meltdown, and that the Russian political system will," he said.

Persons: Putin, Joe Biden, —, Vladimir Putin, Jeffrey Sonnenfeld, Steven Tian, Tian, Trump's, Sergei Guriev, Sonnenfeld, he's, Guriev, Putin's Organizations: Service, Yale, London Business School, Russia Locations: Russia, Ukraine, Russian, Moscow, Soviet

☆ Tesla's stock wraps up one of its worst quarters on record as global dominance wanes
▼ + stars: | 2024-03-29 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +11 min

Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications. Tesla's Model 3 is about $4,000 more than that. Aging lineup, early days for Cybertruck While EV sales are still gaining popularity worldwide, the growth rate has slowed. In a push for end-of-quarter sales, Musk recently mandated that all sales and service staff install and demo FSD for customers before they hand over their cars. Despite its name, Tesla's premium option requires a human driver at the wheel, ready to steer or brake at any moment.

Persons: Florence Lo, Tesla, Troy Teslike, Tesla's, China's BYD, BYD, Lei Jun, Emmanuel Rosner, Rosner, Elon Musk, Krisztian Bocsi, Rohan Patel, Musk, Sandy Munro, Forbes, Larry Magid, Donald Trump, He's, he's, Investor Ross Gerber, who've, Brad Gerstner, Gerstner, FSD Organizations: Reuters, FactSet, Independent, Qin, Tesla's, China Passenger Car Association, Bloomberg, Deutsche Bank, Tesla, Volvo, Elon, Tesla Inc, Getty, IF Metall, IF Metall's, IF, Pew Research, Gallup, Investor, CNBC, Bears, S3 Partners, U.S Locations: Beijing, China, China In China, Shanghai, Europe, Red Sea, Iran, Gruenheide, Germany, Brandenburg, Berlin, Swedish, Sweden, U.S, Austin , Texas, San Jose , California, Fremont , California, Florida, Haiti, Texas, Delaware

☆ CDC alerts doctors to watch for a rare, serious bacterial infection
▼ + stars: | 2024-03-28 | by ( Brenda Goodman | ) edition.cnn.com time to read: +3 min

CNN —Health officials are alerting doctors to be on the lookout for certain types of rare, serious meningococcal infections that are on the rise in the United States. Typically, meningitis infections strike babies or adolescents and young adults. The CDC’s alert comes after the Virginia Department of Health warned about five deaths from the same rare, serious form of meningococcal disease in September. The infection can lead to both meningitis and a serious infection of the bloodstream called septicemia, or blood poisoning. Typical symptoms of meningitis infections include fever, headache, a stiff neck, an aversion to light and nausea.

Persons: Neisseria meningitidis, Dr, Sanjay Gupta, It’s Organizations: CNN — Health, US Centers for Disease Control, Prevention, Virginia Department of Health, CDC, United States —, CNN, CNN Health Locations: United States

☆ CNBC Daily Open: U.S. consumers' optimism wanes
▼ + stars: | 2024-03-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Cocoa prices soarCocoa prices are surging and this could impact consumers as the world struggles with a supply deficit. The cocoa futures contract for May delivery rose to an all-time intraday high of $10,080 per metric ton Tuesday. [PRO] ETFs that stand outGiven the market volatility, investors are looking to exchange-traded funds to position their portfolios.

Persons: Dow, Francis Scott Key, Richard Meade, Paul, Tim Cook, Vahan Janjigian Organizations: CNBC, Street, U.S, Nasdaq, Rabobank, Apple, Greenwich Wealth Management Locations: Port of Baltimore, U.S, Baltimore

☆ European markets lose momentum, head toward flat open
▼ + stars: | 2024-03-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European stocks are heading for a flat open Wednesday as market momentum wanes. Regional markets closed higher Tuesday but are set to start today's session around the flatline. Investors will be keeping an eye out for Spanish inflation data and French consumer confidence figures for March on Wednesday, as well as a trading update from clothes retailer H&M . Elsewhere overnight, U.S. stock futures were up modestly Tuesday night following a losing session on Wall Street that pulled the indexes further from record levels. Meanwhile, Asia-Pacific markets were mixed Wednesday as investors assessed economic data from China and Australia.

Locations: Asia, Pacific, China, Australia

☆ Reddit power users balk at chance to participate in IPO as Wall Street debut nears
▼ + stars: | 2024-03-20 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +10 min

It's not just market conditions that have Reddit moderators like Gilbert forgoing the investment opportunity. Reddit has long had a rocky relationship with moderators and the site's most dedicated users, or Redditors. In total, Reddit said underwriters have reserved 1.76 million of the 8 million shares in the IPO for the DSP. Meme stocksOf all companies, Reddit knows something about stock market volatility. However, given the dearth of tech IPOs since the start of 2022, White said Reddit's offering is "probably a little more risky."

Persons: Jonathan Raa, Sarah Gilbert, she's, She's, Airbnb, Doximity, Reddit's, Klaviyo —, It's, Gilbert forgoing, Reddit, Steve Huffman, Gilbert, you've, Alexis Ohanian, Twitch, BuckRowdy, Joshua White, White, FormicaDinette33, subreddits, it's, Wrestlegirl, Maharaj, shouldn't, He's, jeering, Courtnie Swearingen, Victoria Taylor, Swearingen, San, — CNBC's Cameron Costa Organizations: Nurphoto, Getty, New York Stock Exchange, Cornell University's Citizens, Technology, Google, YouTube, Facebook, CNBC, GameStop, AMC Entertainment, Vanderbilt University Locations: New, Chicago, San Francisco

☆ Wells Fargo downgrades Tesla, sees electric vehicle stock dropping nearly 30% from here
▼ + stars: | 2024-03-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

Analyst Colin Langan downgraded the electric vehicle maker to underweight from equal weight. We see headwinds from disappointing deliveries & more price cuts, which likely drive negative EPS revisions," Langan wrote. In the wake of [price] cuts are lower lease residuals, disgruntled customers & the possible loss of the luxury brand premium." Tesla shares have struggled in 2024, losing nearly 30%, as demand for electric vehicles wanes. Ford Motor last month said it was reassessing its electric vehicle plans , with CEO Jim Farley noting widespread adoption won't happen until costs are more aligned with gas-powered models.

Persons: Wells, Colin Langan, Langan, Jim Farley, Wells Fargo's Langan Organizations: Elon, EU, China, Ford Motor, General Motors, Honda Locations: Tuesday's

On a positive note, Bank of America raised its price target on Nvidia to $1,100, implying gains of nearly 20%. Analyst Ruplu Bhattacharya upped his price target by $240 to $1,280, now implying upside of 10.1% from Tuesday's close. Analyst Sheila Kahyaoglu upgraded the airline stock to hold from underperform and raised her price target by $8 to $28. Still, her new price target implies shares will slid another 2.6% — even after Tuesday's big drop. Notably, he said Nvidia stock is at a lower forward price-to-earnings multiple today than when ChatGPT was launched.

Persons: Wells, BofA, Ruplu Bhattacharya, Bhattacharya, Alex Harring, Jefferies, Sheila Kahyaoglu, Tuesday's, Kahyaoglu, — Alex Harring, Vivek Arya, Arya, ChatGPT, Colin Langan, Langan, Fred Imbert Organizations: CNBC, Bank of America, Nvidia, Artificial Intelligence, Super Micro, Southwest, Jefferies, Boeing, of America, Tech Conference, EU, China Locations: Tuesday's, underperform, Woodstock, Wells

☆ 5 ways to get out of a fitness rut
▼ + stars: | 2024-03-08 | by ( Dana Santas | ) edition.cnn.com time to read: +7 min

At some point in most people’s fitness journeys, they hit a plateau — progress stalls and motivation wanes. Monitoring your exercise activity with a wearable device or a fitness journal can help you recognize markers of your progress. By monitoring your workouts using a fitness journal, smartphone app or wearable device, you can start recognizing indicators of your success. Remember, hitting a fitness plateau rarely means you aren’t doing enough; it’s a natural part of the journey. Leveraging the strategies above, you can break free from stagnation, reignite your passion for fitness and get back on the road to your fitness goals.

Persons: Dana Santas, you’re, George T, Doran Organizations: Pain, CNN, CNN’s

☆ Putin is rehashing his nuclear threats — but this time, he may be threatening nuclear catastrophe in an effort to sway American voters
▼ + stars: | 2024-03-02 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

Read previewRussian President Vladimir Putin issued a new nuclear threat this week, threatening the West over its support for Ukraine in his most explicit intimidation tactic yet. Russia's President Vladimir Putin gives an interview with US talk show host Tucker Carlson at the Kremlin in Moscow on February 6, 2024. "American politicians are already responding to this war in a way that helps Russia," Schmidt said. But Putin may ultimately have the more resonant message when it comes to American voters, Schmidt said. "It's far more complicated to explain why Ukraine is important to US voters than it is for Putin to threaten nuclear war," he told BI.

Persons: —, Vladimir Putin, Putin, Emmanuel Macron, Simon Miles, Miles, Tucker Carlson, GAVRIIL, Matthew Schmidt, Schmidt, Biden, wanes, Zelenskyy Organizations: Service, Ukraine, Business, NATO, Reuters, Duke University's Sanford School of Public, Soviet Union, West, Kremlin, University of New Haven, US Army's School, Advanced Military Studies, Kiel Institute, GOP, Western Locations: Ukraine, Russia, Germany, Poland, Russian, Soviet, Moscow, Israel

GRAND RAPIDS, Mich. (AP) — Bartender Catey Regis had a pricey misadventure buying a used car recently — an experience that speaks to why voters are worrying about the U.S. economy going into this year's presidential election. “To me, it’s a telltale sign about the economy," Regis explained from a bar stool after her shift. But conversations with dozens of voters around Grand Rapids — a city of 200,000 in one of Michigan’s swing counties — show they're thinking about the economy through their own experiences. Grand Rapids is the seat of Kent County, which backed Trump in 2016 and then flipped to Biden in 2020. To the extent that the economy is doing well, there is little confidence that it is necessarily sustainable.

Persons: Catey Regis, it’s, Regis, Joe Biden, Donald Trump, Biden, Trump, ”, Cameron Brown, “, Scott Thompson, Uber, ” Thompson, Teresa Johnson, Johnson, Nikki Haley, Charles Kroll, he’s, ” Kroll, Arick Davis, Davis, ” Davis, ___ Boak Organizations: Founders Brewing, Toyota Corolla, Republican, Westwood, Trump, Democrat, South, Biden, Census, Chamber, Commerce, Business Locations: GRAND RAPIDS, Mich, U.S, Grand Rapids, Kentwood, East, Ukraine, Caledonia, South Carolina, Grand, Kent County, South East Grand Rapids, Commerce “, Washington

☆ These market signals suggest recession fears aren’t gone yet
▼ + stars: | 2024-02-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

The Dow Jones Transportation Average, which tracks 20 US transportation stocks from railroads to airlines to delivery, has fallen 1.6% so far this year, underperforming the broader Dow industrials’ 2.2% gain. As that optimism dims, some investors worry that the decline in transportation stocks suggests rough times ahead for the economy. The transportation index tends to fall when the economy deteriorates, as demand for travel and goods wanes. Turmoil in the airline industry also likely contributed to the recent slide in transportation stocks. But net profit fell 14% to €4.9 billion ($5.3 billion) as its tax bill rose.

Persons: CH, , ”, Mark Luschini, Janney Montgomery Scott, Russell, Howard Silverblatt, Dow, effusively, ”, Luschini, Jason Heller, “ I’m, Hanna Ziady, Sewing, Read, Tod Steward, He’s, It’s, Parija Kavilanz, Steward, Steward hasn’t, “, haven’t, that’s Organizations: CNN Business, Bell, New York CNN, Dow Jones Transportation, Dow, CH Robinson Worldwide, United Parcel Service, Avis Budget Group, Alaska Air Group, Federal Reserve, Alaska Airlines Boeing, Max, Apple, Microsoft, Meta, Dow Jones, Tesla, Coastal Wealth, Deutsche Bank, Super Bowl, CNN Locations: New York, Seattle

☆ Ukraine losing Western support makes the US 'more vulnerable' because China is watching the war closely, NATO chief says
▼ + stars: | 2024-01-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

NATO chief Jens Stoltenberg warned that Putin achieving his goals in Ukraine sets an example for Beijing. China wants to see how long the US can keep up support to Ukraine, Stoltenberg said. He urged the West to continue aid to Ukraine as funding for Kyiv is questioned in Congress. AdvertisementChina is closely watching how long the US and Europe can maintain support for Ukraine, Jens Stoltenberg, secretary-general of the North Atlantic Treaty Organization, said on Sunday. "So it's not only making Europe more vulnerable but all of us, also the United States, more vulnerable if Putin gets what he wants in Ukraine."

Persons: Jens Stoltenberg, Putin, Stoltenberg, —, Shannon Bream, Putin doesn't, Wang Yi Organizations: Ukraine, Service, Atlantic Treaty Organization, Fox News, it's, GOP, NATO, CNN Locations: Ukraine, Beijing, China, Europe, Kyiv, it's Ukraine, Taiwan, United States, Russia, Russia's

☆ China’s Xi Jinping visits financial hub Shanghai as Chinese economy sputters
▼ + stars: | 2023-11-30 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Chinese leader Xi Jinping has visited Shanghai for the first time in three years, as his government steps up efforts to prop up the country’s economy and financial markets. The visit, his first since 2020, comes as business confidence wanes in China and foreign companies pull out of the country. “General Secretary Xi Jinping’s visit to Shanghai sends important signals at a critical moment,” an editorial by Xinhua said Thursday. “Shanghai must be a vanguard of the country’s reform and opening up and a pioneer in its tech innovation and development,” Xi was quoted as saying by Xinhua. Earlier this month, Xi visited the United States for the first time in more than six years, where he met with President Joe Biden to amend ties between the two countries.

Persons: Xi Jinping, Xi, Lifeng, Cai Qi, Xi Jinping’s, ” Xi, Joe Biden Organizations: Hong Kong CNN, Shanghai Futures Exchange, Xinhua News Agency, PMI, Xinhua, “ Finance Locations: Hong Kong, Shanghai, China, Beijing, United States

☆ Iceland remains on eruption alert as seismic activity wanes
▼ + stars: | 2023-11-24 | by ( Johannes Birkebaek | ) www.reuters.com time to read: +1 min

[1/2] General view of an area near to the evacuated town of Grindavik, in Iceland, November 17, 2023. REUTERS/Marko Djurica/ File photo Acquire Licensing RightsCOPENHAGEN, Nov 24 (Reuters) - Icelandic authorities said on Friday they were still on alert for a volcanic eruption in the southwest Reykjanes peninsula, although the odds were falling after a drop in seismic activity. Iceland has been living with a high risk of an eruption since seismic activity and underground lava flows increased in the region near the capital Reykjavik in late October. "Seismic activity continues to decrease," it said, adding that "the likelihood of eruption decreases over time". Five ministers from the Icelandic parliament visited Grindavik on Friday, where evacuated residents have been allowed back since Thursday to pick up more personal belongings.

Persons: Marko Djurica, RUV, Vidir Reynisson, Johannes Birkebaek, Alexander Smith Organizations: REUTERS, Rights, Thomson Locations: Grindavik, Iceland, Reykjavik, Hagafell

☆ Mali signs agreement with Russia to build gold refinery
▼ + stars: | 2023-11-22 | by ( Tiemoko Diallo | ) www.reuters.com time to read: +2 min

BAMAKO, Nov 22 (Reuters) - Mali's military government said it has signed an agreement with Russia to build a gold refinery in the capital Bamako, one of a slew of deals between the two countries as Russia seeks to extend its regional influence. The deal is the latest sign of Russia's deepening interests in Mali, one of Africa's largest gold producers, just as Western influence there wanes. Russia's state nuclear energy company Rosatom signed an deal with Mali in October to explore for minerals and produce nuclear energy. Sanou said he had also signed a deal with a Russian firm to build a 200- to 300-megawatt solar power plant by mid-2025. Industrial gold production in Mali totalled 66.2 tonnes last year, mostly from mines owned by Barrick Gold (ABX.TO), B2Gold (BTO.TO), Resolute Mining (RSG.AX), Allied Gold (AAUC.TO) and Endeavour Mining .

Persons: Alousséni Sanou, Sanou, Rosatom, Wagner, Tiemoko Diallo, Hereward Holland, Edward McAllister, Mark Heinrich Our Organizations: Wagner Group, Islamic, Barrick Gold, Resolute Mining, Allied, Endeavour Mining, Thomson Locations: BAMAKO, Russia, Bamako, Mali, Russian, France, Africa, al Qaeda, Islamic State

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