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☆ Champions League Thursday takeaways: Monaco dominates Barcelona, Wirtz and Raya impress
▼ + stars: | 2024-09-20 | by ( Jamie Barton | ) edition.cnn.com time to read: +7 min

CNN —The first week of the new-look Champions League came to an end on Thursday, with Barcelona and Arsenal both in action. An early red card for Eric García for a professional last man foul on Takumi Minamino gave the 2004 Champions League finalist a huge boost, and the French side took full advantage. It was the 17-year-old’s debut Champions League goal after his eye-catching brace against Girona at the weekend. That’s very important.”Florian Wirtz shines on Champions League debutIt took Florian Wirtz just five minutes of Champions League football to grab his first goal in the competition. Even if not, all eyes will surely be on the next matchday when the Champions League returns on October 1, highlighted by Arsenal vs Paris Saint-Germain.

Persons: Hansi Flick, Eric García, Takumi Minamino, ” Flick, Maghnes Akliouche, Marc, André ter Stegen, Lamine Yamal, George Ilenikhena, ter Stegen, Kylian Mbappé, “, ”, Flick, ” David Raya, David Raya, Emmanuele, Atalanta, Thomas Partey’s, Raya, Mateo Retegui’s, I’ve, David, Mikel Arteta, Iñaki, ” Florian Wirtz, Florian Wirtz, Xabi, Álex Grimaldo, Wirtz, Jeremie Frimpong, Timon Wellenreuther, Wellenreuther’s, John Thys, ” Wirtz, Harry Kane, Michael Olise, Jamie Gittens, Germain, Manchester, Jack Grealish, Shaun Botterill, Sturm Organizations: CNN, League, Arsenal, Monaco, Barcelona, La Liga, AS Monaco, Girona, Villarreal, Liverpool’s, AC Milan, Manchester, Inter, Champions League, Atalanta, Tottenham Hotspur, Gunners, Stadio, Bergamo, Bayer Leverkusen, Feyenoord, Getty, Swiss Model, Manchester City, Inter Milan, Rodri, Bayern Munich’s, Dinamo Zagreb, Slovan Bratislava, Sturm Graz, Paris Saint, Crvena Zvezda, Star, Benfica Feyenoord, Bayer Leverkusen Stade Brestois, Sturm Graz Atalanta, Arsenal Atlético Madrid, Leipzig AS Monaco Locations: Barcelona, AFP, Swiss

☆ Our 2 sons moved to Europe for college. We quit our jobs and followed.
▼ + stars: | 2024-09-11 | by ( Erin Liam | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation with Tiffany Fite, a graduate student at Masaryk University in Brno, Czech Republic. So when it was time for my sons, now 22 and 21, to think about college, we were open to different possibilities. AdvertisementAfter high school, both sons took a gap year to decide on their paths. AdvertisementIn June 2023, my husband and I resigned from our jobs and moved to Brno. I enjoy learning as an older studentA student parade in Brno, a student city in the Czech Republic.

Persons: —, Tiffany Fite, Fite, it's, We're Organizations: Service, Masaryk University, Business, American University, University of Pécs Locations: Brno, Czech Republic, Washington ,, Prague, Hungary, Europe, Idaho, Tiffany Fite Brno, It's

☆ I grew up in Connecticut and moved to Europe for college. I never intended for the move to be permanent.
▼ + stars: | 2024-08-27 | by ( Erin Liam | ) www.businessinsider.com time to read: +6 min

Liza Jean MiezejeskiBefore moving to Europe, I didn't realize how much of my thinking about the world was from a US-centric perspective. Liza Jean MiezejeskiI had originally intended to complete the three-year college program in Prague and then return to the US. In January, I founded Skola, a startup that supports US students planning to relocate to Europe for college. I also started a TikTok account where I create content about moving abroad and international studies. When I started my bachelor's in Prague, tuition fees cost around $6,500 a year, although the fees have increased since.

Persons: —, Liza Jean Miezejeski, Miezejeski, Europe Miezejeski, It's Organizations: Service, Business, American University, Europe, Society, Digital Media, Communication, Free University of Brussels, Miezejeski, University of Connecticut Locations: Europe, Connecticut, Germany, Prague, Boston , New York, New England, Czech Republic, Malaysia, Brussels, Belgian, Belgium, Brussels longterm

☆ Missing pieces of a Byzantine artifact recovered at Sutton Hoo
▼ + stars: | 2024-08-10 | by ( Ashley Strickland | ) edition.cnn.com time to read: +9 min

The incomplete artifact is on display in the High Hall exhibition at Sutton Hoo in Suffolk, England. A researcher excavates part of the Bromeswell bucket from the trench at Sutton Hoo. Based on the forms of Greek letters at the top of the artifact, researchers think the vessel was already 100 years old when it arrived at Sutton Hoo, Howarth said. Future research at Sutton Hoo could reveal the broader history of the site and what kept drawing people to inhabit it over time, Howarth said. The aim of this project is to look at the landscape and think about who was inhabiting it and how that fits into the wider Sutton Hoo story.”

Persons: Count, David Brun, ”, Laura Howarth, Howarth, James Dobson, ’ ” Howarth, Angus Wainwright, “, David Brunetti, ” Howarth, Sutton, Edith Pretty Organizations: CNN, Sutton, harrow, National Trust ., National Trust, Field, Specialists, Heritage, Hoo, “, British Museum Locations: Suffolk, England, Hoo, African, Sutton Hoo, Byzantine, Antioch, Turkey, Britain, Sutton, Hampshire, East Anglia, what’s, Sri Lanka

☆ New fossils could reveal origin of ancient ‘hobbit’ humans
▼ + stars: | 2024-08-10 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

More bones followed, and at first, archaeologist Thomas Sutikna and his team thought they had uncovered the ancient fossils of a child. And the newly studied fossils represent an earlier hobbit who was 2.4 inches (6.1 centimeters) shorter than the first specimen. Homo erectus was the first ancient human to migrate out of Africa about 1.9 million years ago. Together, the Homo floresiensis fossils paint a portrait of a hardy species able to adapt and thrive despite the presence of hulking Komodo dragons. Defying gravityAstronauts Butch Wilmore and Suni Williams have long outstayed a planned eight days in low-Earth orbit after traveling to the International Space Station aboard Boeing’s Starliner spacecraft in June.

Persons: Bua, Thomas Sutikna, floresiensis, Homo floresiensis, erectus, Homo erectus, Butch Wilmore, Suni Williams, SpaceX’s, Williams, David Brunetti, Pharaoh Djoser, NASA's, squaretail groupers, China’s Chang’e, Ashley Strickland, Katie Hunt Organizations: CNN, International Space, NASA, Sutton, Exploration Rover, Rover, CNN Space, Science Locations: Indonesian, Flores, Africa, African, Sutton Hoo, Suffolk, England, Sutton, Turkey, China, India’s

☆ Russia Released 16 Prisoners. Hundreds of Others Were Left Behind.
▼ + stars: | 2024-08-02 | by ( Ivan Nechepurenko | ) www.nytimes.com time to read: +1 min

For the 16 people released from Russian captivity on Thursday in a landmark prisoner swap, the exchange brought a moment of momentous relief. Hundreds of prisoners in Russia — including Americans and prominent Russian political activists, journalists and artists — are still waiting, hoping that another diplomatic agreement or turn of events might secure their release. One of them is Marc Fogel, an American history teacher who worked for almost a decade at the Anglo-American school in Moscow. In 2021, when trying to enter Russia, Mr. Fogel was arrested and accused of smuggling drugs after a small amount of medical marijuana was discovered in his luggage. In June 2022, Mr. Fogel, a native of Western Pennsylvania, was sentenced to 14 years in prison for drug smuggling.

Persons: —, Marc Fogel, Fogel Locations: Russia, Russian, Moscow, Western Pennsylvania

☆ Bronze Age-style ship recreates a 4,000-year-old journey
▼ + stars: | 2024-07-13 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Fast-forward to seventh century East Anglia in the United Kingdom, where an Anglo-Saxon warrior king was buried alongside exquisite goods within a massive ship. Researchers are hoping to reconstruct the ship — and it’s not the only vessel gaining new life centuries after disappearing from time. Emily Harris/Zayed National MuseumUsing a supply list written on a clay tablet, a team of experts in the United Arab Emirates has reconstructed a Bronze Age ship. Once upon a planetScientists excavated a 52,000-year-old woolly mammoth skin from the Siberian permafrost. Love Dalén/Stockholm UniversityThe freezing temperatures of the Siberian permafrost preserved a piece of 52,000-year-old woolly mammoth skin so well that it contains a first-of-its-kind genetic treasure trove.

Persons: it’s, Emily Harris, Shipwrights, Jacob, Alex Braczkowski, Griffith University Jacob, Tibu, Butch Wilmore, Suni Williams, James Webb, Ashley Strickland, Katie Hunt Organizations: CNN, East, Zayed National, United Arab Emirates, Zayed National Museum, Griffith University, Uganda’s Queen Elizabeth, International Space Station, NASA, Boeing, European Space Agency, James Webb Space, Penguin, —, CNN Space, Science Locations: Siberia, East Anglia, United Kingdom, Persian, Mesopotamia, Zayed, Abu Dhabi, Sweden, Denmark, Peru, Machu Picchu, Uganda’s, Stockholm, Western Australia

The shares pared some gains and closed at C$27.98, giving the company a market capitalization of C$3.44 billion ($2.52 billion). The Lundin family holds a 32% stake in copper miner Filo Corp, while BHP holds a 6% stake in the company, according to recent regulatory filings and LSEG data. Lundin, BHP and Filo Corp did not immediately respond to a Reuters request for comment. Bloomberg News reported earlier on Friday that Lundin had pitched BHP on a joint bid for Filo. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Dado, Filo, Lundin, Divya Rajagopal, Mrinalika Roy, Maju Samuel, Josie Kao Organizations: BHP, REUTERS, Lundin, Filo, Lundin Mining, Filo Corp, Bloomberg News, Thomson Locations: Canada, Sol, Chile, Argentina, Lundin, Toronto, Bengaluru

☆ Wall Street banks name 10 UK stocks to benefit from Labour landslide win
▼ + stars: | 2024-07-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The U.K.'s center-left Labour Party has won a substantial parliamentary majority in the country's general election, unseating the incumbent Conservatives after 14 years. Manthey and her team picked the FTSE 250 index , which can be traded through exchange-traded funds such as iShares FTSE 250 UCITS ETF or Vanguard FTSE 250 UCITS , over the large-cap index FTSE 100 , as their "preferred post-election trade." The strategists, however, cautioned that historical data pointed toward lackluster returns immediately after the election results. More broadly, the investment bank's economist Anna Titareva said U.K. markets remain "heavily discounted" since after Brexit. After the election results were confirmed, they reiterated their stock preferences: Taylor Wimpey and Persimmon .

Persons: Beata Manthey, Manthey, Anna Titareva, Titareva, Anthony Codling, Taylor Wimpey, Gleeson, Bellway, Investec Organizations: Labour Party, Labour, Vanguard, UBS, Companies, FTSE, FTMC, RBC Capital Markets, Jefferies, Genuit Locations: Swiss

☆ Opinion: Don’t expect footballer Kylian Mbappe to swing the French election
▼ + stars: | 2024-06-20 | by ( Opinion Adam Plowright | ) edition.cnn.com time to read: +7 min

Paris CNN —French soccer superstar Kylian Mbappé made a dramatic foray into the country’s election campaign this week, but don’t expect the striker to have an influence on the outcome. The far-right National Rally party of anti-immigration leader Marine Le Pen is leading in the polls, and most pundits suspect her populist movement has never come this close to power. Leaders of the French far-right National Rally, Marine Le Pen and Jordan Bardella, attend a rally ahead of the European Parliament elections where the party had huge success earlier this month. In 2006, Marine Le Pen’s father, far-right patriarch Jean-Marie Le Pen, suggested there were too many “players of color” on the national side. While millions will cheer them on at the Euros, they serve as a visible reminder of the country’s changing demographics — an issue which animates voters for the National Rally like no other.

Persons: Adam Plowright, “, Emmanuel Macron —, Read, Kylian Mbappé, Adam Plowright Adam Plowright, ”, Marcus Thuram, Mbappé, Emmanuel Macron, Marine, Macron, Le Pen’s, Le Pen, Jordan Bardella, Gonzalo Fuentes, Bardella, today’s TikTok, Thuram —, Lilian, Aime Jacquet, Stu Forster, Marcel Desailly, Zinedine Zidane, Didier Deschamps, Le, Jean, Marie Le Pen Organizations: Paris CNN —, UEFA, “, Real Madrid, Ipsos, Reuters, YouTube, Brazil, National Locations: Paris CNN — French, Germany, Paris, Cameroon, Algeria, France, United States, Europe, Guadeloupe

☆ 5 things to know before the stock market opens
▼ + stars: | 2024-06-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

At Apple's annual Worldwide Developers Conference on Monday, the company unveiled "Apple Intelligence" – its long-awaited AI software. Apple CEO Tim Cook stressed privacy and personalization with the system, moving beyond AI into "personal intelligence." Siri will also be getting some upgrades with Apple Intelligence, and Apple announced that Siri will also be able to tap into ChatGPT when needed through the company's partnership with OpenAI. The activist hedge fund has taken a $1.9 billion stake in Southwest Airlines , which makes it one of the airline's biggest investors. This follows a number of other stakes the firm has built within the past two months, such as a $2.5 billion stake in Texas Instruments, a $2 billion stake in SoftBank and a $1 billion stake in Anglo American.

Persons: Tim Cook, John Giannandrea, Craig Federighi, Nic Coury, Siri, Elliott, Gary Hershorn, it's, Bob Jordan, Gary Kelly, Fred Tanneau, Stephane Bancel, Francis Scott Key, Michael A Organizations: Nasdaq, Dow Jones, Nvidia, Apple, Developers, AFP, Getty, Apple Intelligence, OpenAI, Max, Southwest Airlines, Hollywood International Airport, Corbis, Elliott Management, Texas, Moderna, Afp, Francis Scott Key Bridge, McCoy, Washington Post Locations: Cupertino , California, Fort Lauderdale, Fort Lauderdale , Florida, SoftBank, U.S, Baltimore

A Southwest Airlines jet comes in for a landing at Laguardia Airport in New York City, New York, U.S., January 11, 2023. Activist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals. Elliott said it intends to "pursue all available pathways to deliver the leadership changes" the activist believes Southwest needs. Jordan and Kelly have "presided over a period of stunning underperformance at" Southwest, Elliott said. In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments , a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American .

Persons: Elliott, Bob Jordan, Gary Kelly, Jordan, Kelly, Henry Harteveldt, Elliott's Organizations: Southwest Airlines, Laguardia, Elliott Management, Southwest, Delta Air Lines, United Airlines, CNBC, Atmosphere Research, Boeing, Crown, Texas Instruments Locations: New York City , New York, U.S, Southwest, Texas

☆ An activist investor with a new $1.9 billion stake in Southwest is calling for big changes at the airline
▼ + stars: | 2024-06-10 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

However, Elliott Investment Management said Monday that the airline's decades-old strategies weren't working in modern times, and it's calling for a management and board-of-directors overhaul as part of a plan it's calling "Stronger Southwest." This story is available exclusively to Business Insider subscribers. Elliott said Southwest leadership had a "rigid commitment" to the model it dreamed up decades ago, blaming that for today's shortcomings. Elliott Management, which oversees $66 billion in assets, is one of the world's most feared activist hedge funds. "The significant investment we have made reflects our conviction that, with the right leadership, Southwest can regain its status as an industry-leading airline."

Persons: —, Elliott, Elliot, Raymond James, Savanthi Syth Organizations: Service, Airlines, Elliott Investment Management, Business, Southwest, Elliott Management, Texas Instruments

☆ The diamond industry is in trouble as it loses its sparkle in China
▼ + stars: | 2024-06-06 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

In China, the industry's second-largest market, lab-grown varieties, a sluggish luxury market, and low marriage rates are causing it to lose its sparkle. Related storiesCook said one issue is a shift in perception of lab-grown diamonds in the country. The Knot's Real Weddings Study found that nearly half of engagement rings bought in the US last year featured a lab-grown diamond as a center stone. A social media analysis by Daxue Consulting found that lab-grown diamonds are also gaining traction in China, particularly among cash-strapped younger people. Even so, De Beers recently announced that it would halt its six-year experiment with selling lab-grown diamond jewelry.

Persons: —, Duncan Wanblad, De Beers, Wanblad, Al Cook, Cook, Paul Zimnisky, Zimnisky Organizations: Service, Financial, Business, Financial Times, Daxue Consulting Locations: China, De Beers

☆ ‘The Whole World Smiles With You’ challenges the boundaries of Black art
▼ + stars: | 2024-06-06 | by ( Leah Dolan | ) edition.cnn.com time to read: +7 min

“These were the images that were easy for the art world to engage with. Akinkugbe hopes the exhibition shows the "sprawling" nature of Black figurative art. Courtesy Opera GalleryWhile public and institutional interest in Black art has been increasing steadily since 2008, attention and engagement is often inextricably linked to the news cycle. “I do think that in the art world, there was a huge reaction to 2020. “I think it could broaden someone’s idea of what Black art is.

Persons: London CNN —, tutu, Edgar Degas, Chicago, Thelonious Stokes, Stokes, Alayo Akinkugbe, ”, Louis Armstrong, ” Akinkugbe, George Floyd, Derek Chauvin, Akinkugbe, Adjei, Amoako Boafo, Noel Anderson’s, Jazz Grant, ” Noel Anderson, Michael, Leonardo da Vinci, Vermeer, David Hockney, Lucien Freud, Jenny Saville, Francis Bacon’s, Lucian Freud ”, “ I’ve, ’ Stokes, Jesus, “, reimaginings, ” Stokes, ArtNews, Morgan Stanley, “ It’s, We’ve, there’s Organizations: London CNN, Opera, CNN, Sound, Black Arts Movement, Harlem Locations: retiré ., London, Chicago, Florence, Minneapolis, Ghana, West Africa, African

☆ Diamond industry 'in trouble' as lab-grown gemstones tank prices further
▼ + stars: | 2024-06-05 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

Diamond prices have fallen 5.7% so far this year, according to Zimnisky's rough diamond index, declining more than 30% from their all-time high in 2022. Lab-grown diamonds, which can be up to 85% cheaper than natural diamonds, are made in a controlled environment using extreme pressure and heat. Lab-grown diamond sales have surged from just 2% of the global diamond jewelry market in 2017 to 18.4% in 2023, according to data provided by Zimnisky. An industry 'in trouble'"The diamond industry is in trouble," Daga told CNBC, adding that he believes natural diamond prices could fall another 15%-20% over the next 12 months. Similar to a natural diamond, a lab-grown diamond is graded based on the 4Cs — clarity, color, cut and carat weight.

Persons: Leon Neal, Duncan Wanblad, De, Paul Zimnisky, De Beers, Marcelo Esquivel, Ankur Daga, Daga, Anish Aggarwal, Lionel Bonaventure Organizations: Afp, Getty, De, BHP, Financial Times, De Beers, CNBC, Daxue Consulting, Bloomberg, Zimnisky Locations: Harrods, London, De Beers, American, China, U.S

☆ How a humble Indian fabric became a symbol of luxury in 1960s America
▼ + stars: | 2024-06-05 | by ( Christy Choi | ) edition.cnn.com time to read: +9 min

But this staple of preppy American fashion has humble origins, far from Martha’s Vineyard or the hallways of Yale or Harvard, in Chennai, India, the coastal city from which it takes its name. Krishnan Nair,” a biography of the Indian textile magnate and hotelier who first sold Jacobson the madras, in a video interview with CNN. From Chennai to shores of the CaribbeanFort St. George was established in the 1630s, helping the British cement a monopoly on the highly lucrative Indian textile industry. Research by the London School of Economics estimates that Indian cotton textiles, which were often exchanged for slaves, accounted for 30% of the total export value of 18th century Anglo-African trade. A madras fabric weaving workshop in Chennai, the Indian city once known as Madras, circa 1990.

Persons: Lisa Birnbach’s “, Ralph Lauren, Brooks, William Jacobson, ”, Bachi Karkaria, Captain C.P, Krishnan Nair, Jacobson, Tony Cenicola, Karkaria, — Nair, “, ’, David Ogilvy, Leonard McCombe, Nair, Ogilvy, Elihu Yale, George, Hathaway, India Madras ”, Eli Yale, King George I, Hathaway Yale, Yale, Kai Toussaint Marcel, Marcel, Tommy Hillfiger, Kimberly M, Jenkins, Patrick Horvais, madras “ Organizations: CNN, Brooks Brothers, Yale, Harvard, New York Times, Milton Academy, madras, Ivy League, East, Yale College, Yale University, Yale . Yale, East India Company, Metropolitan Museum of Art, Parsons School of, London School of, Princeton, Miss College, Sports Locations: madras, Bahamas, Chennai, India, Madras, West Africa, Milton , Massachusetts, superstardom, East India, Fort St, India Madras, Scottish, North Africa, Nigeria, America, Caribbean, St, West Indies, England, France, New Orleans, East Coast, Bermuda, madras Bermuda, Rhode Island, Newport, South Florida, Palm, Fisher

☆ Gold prices drop as strong U.S. dollar, yields dim bullion's shine
▼ + stars: | 2024-05-30 | by ( ) www.cnbc.com time to read: +2 min

An employee puts gold bullions into a safe deposit box at Degussa shop in Singapore. Gold prices slipped for a second consecutive session on Thursday as the U.S. dollar and Treasury yields edged higher ahead of key inflation data, which could offer further clarity on the Federal Reserve's interest rate plan. "I think it's a case of investors realizing that the current high interest rate environment is likely to have an extended stay. And with the focus again turning to chasing U.S. yields and dollar, some attention is taken away from gold this week," said Tim Waterer, chief market analyst at KCM Trade. While bullion is considered an inflation hedge, higher rates increase the opportunity cost of holding the non-yielding asset.

Persons: Tim Waterer, Bullion, Waterer Organizations: U.S ., KCM, Traders, Global, BHP Group Locations: Singapore, ., U.S

☆ Gold subdued as U.S. dollar, yields firm; traders await inflation data
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +2 min

An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged lower on Wednesday as the U.S. dollar and Treasury yields held firm ahead of key inflation data, which could offer more clarity on the Federal Reserve's interest rate trajectory. The dollar firmed 0.1%, making gold less attractive for other currency holders, while benchmark U.S. 10-year bond yields rose to multi-week peaks. "Investors will try to position themselves in gold because overall long-term fundamentals are looking pretty strong for gold at the moment." While gold is used as a hedge against inflation, rate hikes raise the opportunity cost of holding non-yielding bullion.

Persons: Soni Kumari, Tim Waterer Organizations: Co, U.S ., Treasury, ANZ, KCM, Traders, BHP, Monetary Fund Locations: Bangkok, Thailand, U.S, China

☆ BHP Group wants extension to $49 billion Anglo American takeover talks as deadline looms
▼ + stars: | 2024-05-29 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — BHP Group on Wednesday said it believes an extension to talks with takeover target Anglo American is necessary, as the deadline for discussions looms later in the session. The offer values the company at £38.6 billion ($49.2 billion), according to previous Reuters calculations. "BHP believes a further extension of the Deadline is required to allow for further engagement on its proposal," it said in a statement. The rival miners have until 5 p.m. London time Wednesday to reach an agreement following a week-long extension of last week's deadline. Anglo rejected BHP's previous offers, saying they undervalued the company and its prospects.

Persons: BHP, Stuart Chambers Organizations: LONDON, BHP Group, London, CNBC, BHP Locations: American

☆ Copper prices will extend records and surge another 288% in the coming years, top trader says
▼ + stars: | 2024-05-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Top commodity trader Pierre Andurand expects copper to reach $40,000 a ton in the next four years. AdvertisementCopper prices at records are only a taste of what's to come, says top commodities trader Pierre Andurand. Copper is already sitting near record highs, so any quadrupling from current levels would mean a prolonged series of fresh records. It's bad news for a depleting inventory; last year, global copper supply hit its lowest seasonal level since 2008. The supply-demand imbalance is the same thesis for why commodities expert Jeff Currie expects higher prices, though his projection is nowhere near Andurand's — Currie expects copper to hit $15,000 in the coming years, and has called it "the most compelling trade" he's ever seen.

Persons: Pierre Andurand, —, That's, Andurand, BHP's, Jeff Currie, — Currie, I'm, Currie Organizations: Service, Financial Times, Bloomberg

☆ Miner Anglo American rejects third takeover offer from rival BHP Group as talks deadline extended
▼ + stars: | 2024-05-22 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

(Photo by William WEST / AFP) (Photo by WILLIAM WEST/AFP via Getty Images)LONDON — Anglo American rejected a third takeover proposal from rival BHP Group on Wednesday, as the companies agreed to extend talks deadline by one week. The British miner confirmed the third proposal from BHP offered about £29.34 per Anglo American share, based on undisturbed share prices as of market close on April 23. Shares of Anglo American were up 0.35% shortly after the announcement, while BHP shares fell over 3.4%. The combined companies would form a behemoth in copper mining and the world's largest player in the space, supplying 10% of global output, according to a Reuters analysis. Anglo rejected both previous offers, however, saying that they "significantly undervalue the company and its future prospects."

Persons: Stuart Chambers, Chambers, Duncan Wanblad Organizations: BHP, William WEST, WILLIAM WEST, Getty, BHP Group, London Stock Exchange, Limited, Iron Ore Limited, Rio Tinto Locations: Melbourne, Australian, AFP, American, London, Australia

☆ Morningstar: Anglo American has been good at playing 'hard to get'
▼ + stars: | 2024-05-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorningstar: Anglo American has been good at playing 'hard to get'Jon Mills, equity analyst at Morningstar, says BHP's last bid for Anglo American is "getting expensive" ahead of Wednesday's deadline for a formal offer.

Persons: Jon Mills, BHP's Organizations: Morningstar

☆ 3 reasons why buying copper right now is the best trade one commodity expert has ever seen
▼ + stars: | 2024-05-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Copper "is the most compelling trade I have ever seen," Carlyle's Jeff Currie said on the Odd Lots podcast. He thinks the metal's massive mismatch in supply and demand could push its price up to $15,000 a ton. AdvertisementCopper supply issues are making the metal considerably more expensive, says commodities veteran Jeff Currie, who is very bullish on the opportunity. He later added: "I just quote many of our clients and other market participants say it's the highest conviction trade they've ever seen." Though not necessarily part of his acronym, artificial intelligence is also amplifying industry demand, Currie mentioned.

Persons: Carlyle's Jeff Currie, Currie, —, Jeff Currie, Carlyle, Currie —, Goldman Sachs, policy's, copper's, deglobalization Organizations: Industry, Service, Bloomberg, US, BHP Locations: China, Panama

☆ Copper futures hit record high as data center build-up, EV growth fuels demand
▼ + stars: | 2024-05-15 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Copper futures hit a record high on Wednesday as demand for the base metal stays strong amid a rush to build data centers and the continued electrification of the global economy. It is integral to manufacturing electric vehicles, power grids and wind turbines, especially as the global economy electrifies. The International Energy Agency is expecting power demand from data centers to more than double to over 1000 terawatt-hours (TWh) in 2026 from 460 TWh in 2022. Copper production growth forecast for 2024 has been cut to 0.5% compared with a 3.7% growth estimated by ICSG last October 2023. Anglo American, a major producer, said it would cut copper output in 2024 and 2025 as it seeks to cut costs.

Persons: ICSG Organizations: Aurubis, Bank of America, International Energy Agency, Study, Quantum Minerals, Citi, London Metals Exchange Locations: Hamburg, Germany

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