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☆ Japan Inc set to offer big wage hikes, paving way for end to negative rates
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

Some of Japan's biggest companies are expected to formally offer sizeable pay increases at annual talks with unions that wrap up on Wednesday, clearing the way for the central bank to end negative interest rates as early as next week. Some of Japan's biggest companies are expected to formally offer sizeable pay increases at annual talks with unions that wrap up on Wednesday, clearing the way for the central bank to end negative interest rates as early as next week. Economists see substantial wage increases as a prerequisite for the Bank of Japan, or BOJ, to declare that its long-held goals of sustainable wage growth and stable prices are in sight and usher in an end to negative rates in place since 2016. As a result, some analysts expect this year's wage increases at 5% or more, from just under 4% previously. Unions across industries, including automobiles, electronics, metals, heavy machinery and the service sector have all demanded hefty pay hikes.

Organizations: Toyota Motor, Japan's, Bank of Japan, Workers Locations: Toyota, Nagoya, Japan

☆ Alcoa to buy Australian partner Alumina in $2.2 billion all-stock deal
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +1 min

The Alcoa Corp. Kwinana Alumina Refinery in Kwinana, Australia, on Wednesday, Feb. 28, 2024. U.S. aluminum producer Alcoa made a $2.2 billion offer to acquire its Australian joint-venture partner Alumina Ltd. to consolidate ownership of key upstream assets with long-term demand for the metal forecast to rise. Alcoa will buy Alumina in an all-stock deal that values the Australian firm at $2.2 billion and make the U.S. company one of the world's largest producers of alumina and bauxite. Shares of Alumina rose as much as 10.4% after Alcoa announced the deal on Monday, hitting their highest since August 2023. Buying Alumina gives Alcoa full control of their joint venture, which is one of the world's largest producers of the semi-processed form of aluminum.

Persons: Alcoa Organizations: Alcoa Corp, Alcoa, U.S . Locations: Kwinana, Australia, U.S, China, United States

☆ 'Porous' sanctions haven't stopped Russia's war, but there's still more the West can do to squeeze its economy
▼ + stars: | 2024-03-10 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

According to Peach, sanctions haven't halted money from non-Western countries flowing to Russia. Even G7's bid to curb export income through a $60 per barrel cap on the price of oil hasn't really hobbled Moscow's oil trade. The West has reduced imports of Russian energy significantly but Russia has largely re-routed oil exports to Asia." Peach wrote that the West could squeeze Russian energy more by slapping secondary sanctions on third-party purchases of oil and gas from the country. AdvertisementBut it's unlikely for the West to take this path, he added, given Russia's energy dominance and the risk of sparking volatility that could end up antagonizing partners like India.

Persons: —, Vladimir Putin, Owen Matthews ,, Putin, Liam Peach, Peach, Matthews, Russia mobilizes Organizations: Service, Business, Capital Economics, Export, Central Bank of Russia, Russia, China Goods Trade, SA Locations: Ukraine, Moscow, Russia, Nord, Turkey, UAE, Asia, Europe, Russian, China, Dubai, American, India

☆ Gold marches higher as U.S. jobs data boosts bets of early rate cut
▼ + stars: | 2024-03-08 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were poised for their biggest weekly jump in five months on Friday, hovering near a historic high, as Federal Reserve Chair Jerome Powell's remarks cemented mid-year rate cut bets, ahead of a key jobs report later in the day. Gold prices surged to another record high on Friday as data showing a rise in the U.S. unemployment rate boosted expectations that the U.S. Federal Reserve could begin cutting interest rates soon. Low interest rates are supportive for gold prices as they reduce the opportunity cost of holding bullion. Gold prices will continue to trend higher overall, though a short consolidation may be necessary," said Tai Wong, a New York-based independent metals trader. Meanwhile, London's gold price benchmark hit another record high of $2171.30 per troy ounce at an afternoon auction on Friday, the London Bullion Market Association (LBMA) said.

Persons: Jerome Powell's, Bullion, Gold, David Meger, Tai Wong Organizations: U.S . Federal Reserve, High, Treasury, Traders, London Bullion Market Association Locations: U.S, New York

☆ Costco is now selling $625 packs of silver coins as well as $2,000 gold bars — and shoppers are snapping them up
▼ + stars: | 2024-03-08 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Costco is now selling packs of one-ounce silver coins, priced at $625 for 25 coins. Its CFO said that sales of the coins and Costco's 24-karat gold bars had led its e-commerce growth. AdvertisementIt's not just $2,000 gold bars you can buy from Costco — customers can now snap up $625 packs of silver coins, too, as the retailer expands its precious metals business. On Costco's website, you can snap up a 25-count pack of 2024 Canada Maple Leaf silver coins. Each coin weighs one troy ounce and is made of 99.99% pure silver, Costco says.

Persons: —, It's, Richard Galanti Organizations: Costco, Service, CNN, Business

☆ Costco sold out of $2,000 gold bars. Now, it’s selling silver coins
▼ + stars: | 2024-03-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Costco recently started selling silver coins for the first time, finance chief Richard Galanti told CNN. Costco is trying to replicate its recent success with gold bars. It began selling $2,000 gold bars online in September and sold more than $100 million worth of the bars last quarter. After all, not many people are actually stashing away gold bars in their homes. We constantly buy that stuff and intentionally run out of it from time to time.”Costco is also selling precious metals as they become more valuable.

Persons: Richard Galanti, King Charles III, “, ”, Galanti Organizations: New, New York CNN, Costco, CNN, Federal Reserve, Treasury Locations: New York

☆ Bill Gates-backed startup confident it can unearth more buried treasure after a historic copper find
▼ + stars: | 2024-03-06 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Copper plates on wagons ready for onward shipping at the Mufulira refinery, operated by Mopani Copper Mines Plc, in Mufulira, Zambia, on Friday, May 6, 2022. KoBold Metals, a mining startup backed by billionaires including Bill Gates and Jeff Bezos, is bullish on the discovery potential of some of the most sought-after energy transition metals. It comes shortly after the Silicon Valley-based metals exploration company announced the rare discovery of a vast copper deposit in Zambia. The point of the company is to discover, find and develop mineral resources that we need for the energy transition," Goldman said via videoconference. KoBold Metals says it uses artificial intelligence to create a "treasure map" to help find new deposits of materials such as copper, lithium, cobalt and nickel.

Persons: Bill Gates, Jeff Bezos, Josh Goldman, Goldman Organizations: Mopani Copper Mines, KoBold Metals, CNBC, KoBold Locations: Mufulira, Zambia, videoconference

☆ The UAE is a global leader in diamond trading. Now, it wants to grow them, too
▼ + stars: | 2024-03-06 | by ( Ana De Oliva | ) edition.cnn.com time to read: +7 min

The United Arab Emirates (UAE) is a global leader in diamond imports and exports, but it does not have any diamond mines. In 2022, he co-founded Dubai-based 2DOT4 Diamonds, becoming the first to produce, cut, and polish lab-grown diamonds in the UAE. “The mined diamond, you don’t control it, the Earth is doing it.”To grow a diamond, you start with a diamond, either lab-grown or mined, explains Sabeg. Last year, the country underwent a tax reform in the sector and pledged extra funding to further expand its man-made diamond industry. “Sixty years ago, if you tell someone this is a synthetic or a lab-grown diamond, they won’t even look at it,” he adds.

Persons: CNN —, Mohamed Sabeg, ”, ” Mohamed Sabeg, Paul Devitt, It’s, Everest —, CNN “, Paul Zimnisky, Ahmed Bin Sulayem, Bin Sulayem, “, Zimnisky Organizations: CNN, International Gem Society, United Arab Emirates, Dubai Multi Commodities Center, HRA Locations: Russia, South Africa, UAE, Dubai, 2DOT4, US, China, India, CNN India, Emirate

☆ Nanoplastics linked to heart attack, stroke and early death, study finds
▼ + stars: | 2024-03-06 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +9 min

“Should exposure to microplastics and nanoplastics be considered a cardiovascular risk factor? Nanoplastics have been found in human blood, lung and liver tissues, urine and feces, mother’s milk, and the placenta. The examination found “visible, jagged-edged foreign particles” scattered in the plaque and external debris from the surgery, the study said. Presence of microplastics and nanoplastics, and subsequent inflammation, may act to increase one’s susceptibility to these chronic diseases,” Stapleton said in an email. However, calling the study results “a direct link to cardiovascular disease is a stretch for the findings,” she added.

Persons: ”, Raffaele Marfella, Marfella, University of Campania Luigi Vanvitelli, Philip Landrigan, ” Landrigan, nanoplastics, Landrigan, Mary Conlon, —, that’s, Andrew Freeman, Phoebe Stapleton, Rutgers University’s Ernest Mario, “, ” Stapleton, Leonardo Trasande, don’t, Trasande Organizations: CNN, New England, of Medicine, University of Campania, Boston College, Program, Global Public Health, Global, Planetary Health, International, Water Association, Surgeons, Jewish Health, Rutgers, Rutgers University’s Ernest Mario School of Pharmacy, Getty, American Academy of Pediatrics, NYU Langone Health, Natural Resources Defense Council, Invest Locations: Naples, Italy, Denver, Piscataway , New Jersey

☆ Goldman says the bear market for battery metal prices is far from over
▼ + stars: | 2024-03-05 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Goldman Sachs finds it is too early to call an end to a battery raw materials price plunge, warning that significant supply pipelines and Western electric vehicle headwinds could keep prices lower for longer. Goldman Sachs said the outlook appeared bearish for nickel, lithium and cobalt. On a 12-month basis, analysts at Goldman said the Wall Street bank is targeting a 12%, 15% and 25% downside in cobalt, nickel and lithium carbonate, respectively. Lithium prices are down nearly 70%, compared to the same period last year. Nickel prices on the London Metal Exchange (LME) were last trading at $17,945 per metric ton on Tuesday, while cobalt prices on the LME stood at $28,550 per metric ton.

Persons: Goldman Sachs, Nicholas Snowdon, Goldman Organizations: Western EV, London Metal Exchange Locations: China

☆ Gold near two-month peak as anticipation builds for June U.S. rate cut
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices lingered close to a two-month high on Monday, after softer U.S. economic readings last week cemented prospects of an interest rate cut in June by the Federal Reserve. U.S. gold futures fell 0.3% to $2,090.00. Traders have raised their hopes for a June rate cut, and are now seeing a 74% chance, compared with about 65% chance last Monday, according to LSEG's interest rate probability app. Lower interest rates boost the appeal of non-yielding bullion.

Persons: Edward Meir, Meir Organizations: Co, Federal Reserve, U.S, Traders Locations: Bangkok, Thailand, U.S, South Africa

☆ A bullish long-term turnaround is developing in this country ETF, according to the charts
▼ + stars: | 2024-03-04 | by ( Katie Stockton | ) www.cnbc.com time to read: +6 min

A bullish long-term turnaround has developed in the iShares MSCI Australia ETF (EWA) , which broke out from a long-term triangle pattern late last year in a positive technical catalyst. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein.

Persons: EWA, Katie Stockton Organizations: BHP Group Ltd, BHP, Fairlead, CNBC Pro, Securities Locations: Australia, EWA

☆ Satellites burning up in our atmosphere may not be as harmless as first thought
▼ + stars: | 2024-03-02 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +9 min

Satellites and spacecraft burning up in our atmosphere are leaving metal particles in the stratosphere — and scientists are worried it could harm our planet. Stratospheric particles can shape the ozone layerRemember the ozone layer? AdvertisementThat, in turn, can spark a chain reaction that creates rainbow-colored polar stratospheric clouds. Polar stratospheric clouds (PSCs) are seen in the sky over Jukkasjarvi, northern Sweden, on December 17, 2023 in Jukkasjarvi, Sweden. "There's an increasing number of rocket launches for small satellites and tourism, which burn kerosene or other fuels that emissions in the atmosphere.

Persons: Daniel Murphy, that's, Roy Rochlin, Murphy, Thomas Parent, Chelsea Thompson, Martin Chipperfield, Chipperfield, It's Organizations: Service, Business, National Oceanic, Administration Chemical Science, NASA, WB, NOAA, University of Leeds Locations: Montreal, Tonga, Sweden, Jukkasjarvi, Alaska, UK

☆ NASA may build giant telescopes on the moon in your lifetime. Check out the blueprints.
▼ + stars: | 2024-03-01 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +12 min

One moonshot plan would build a giant radio dish spanning an entire crater on the far side of the moon. An illustration of a conceptual radio telescope within a crater on the moon. Silk argues that lunar telescopes would open the door to a new era of major space discoveries. A satellite trail streaks in front of galaxies in this image from the Hubble Space Telescope. Any radio telescope on the moon's back end would pick up the pure emissions of the universe.

Persons: —, Vladimir Vustyansky, James Webb, Dallan Porter, Roger Angel, Joseph Silk, Jack Burns, Burns, That's, Stefica Nicol, Artemis, Ronald Polidan, FarView, Jack Burns Karan Jani, LILA, Fermilab LILA, Jani, NASA's James Webb, Temim, Webb, Angel, Chris Gunn, Nick Woolf, Angel Roger, Phil, Martin Elvis, Elvis Organizations: Service, NASA, Business, Vanderbilt Lunar Labs, Telescope, University of Arizona, American Astronomical Society, Payload, University of Colorado Boulder, Hubble Space, Hubble, ESA, Radio Telescope, REUTERS, NASA JPL, Caltech, Radio Science Investigations, Houston, Lunar Resources, Resources, Inc, Vanderbilt University, Fermilab, Telescopes, CSA, Princeton University, Engineers, James Webb Space, Industry, AP Locations: New Orleans, Australia

☆ Gold hovers near one-month peak on slowing U.S. inflation
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: +2 min

Gold prices hovered near a month high on Friday after data suggested easing U.S. price pressures, while traders awaited remarks from several Federal Reserve officials. Gold prices hovered near a month high on Friday after data suggested easing U.S. price pressures, while traders awaited remarks from several Federal Reserve officials. Gold traders rejoiced the fact that core-PCE slowed annually," City Index senior analyst Matt Simpson said. Money market pricing shows traders are pricing in three quarter-point U.S. rate cuts for 2024. "Whilst negative ETF flows are capping gold prices, China's central bank is a key reason that gold prices remain supported, as they were the second highest purchaser of gold reserves in the fourth quarter," Simpson said.

Persons: Matt Simpson, Simpson Organizations: Federal Reserve, PCE, Index, U.S

☆ Lightning Round: Commercial Metals is a winner, says Jim Cramer
▼ + stars: | 2024-02-29 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Commercial Metals is a winner, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: SIgnet Jewelers, Equinix, Infosys, Commercial Metals and more.

Persons: Jim Cramer Organizations: Metals, SIgnet, Infosys, Commercial Metals Locations: Equinix

☆ This under-the-radar metals play could be due for a relief rally, according to the charts
▼ + stars: | 2024-02-26 | by ( Katie Stockton | ) www.cnbc.com time to read: +6 min

—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: PAAS, Katie Stockton Organizations: American Silver Corporation, PAAS, Fairlead, CNBC Pro, Securities

☆ Gold off two-week highs as U.S. dollar ticks higher
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: +2 min

Gold prices inched lower on Monday pressured by a gaining U.S. dollar, but bullion's losses were cushioned as growing tensions in the Middle East supported the safe-haven near last session's over two-week highs. Gold prices inched lower on Monday pressured by a gaining U.S. dollar, but bullion's losses were cushioned as growing tensions in the Middle East supported the safe-haven near last session's over two-week highs. "Gold has exhibited some mild easing to kick-off the new week mostly due to the dollar ticking higher. Last week, Fed Governor Christopher Waller said he was in "no rush" to cut rates, firming investor bets against U.S. interest rate cuts before June. Markets are currently pricing in a 68% chance of a Fed rate cut in June, according to the CME Fed Watch Tool.

Persons: Tim Waterer, Waterer, Christopher Waller, Silver Organizations: U.S, East, KCM, CME Locations: U.S

☆ White dwarf star has metal scar after gobbling planetary fragment
▼ + stars: | 2024-02-26 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —Astronomers have spotted an unusual sign that a dead star feasted on a fragment of a planet orbiting it: a metal scar on the star’s surface. The observation revealed a metallic feature on the star’s surface that the researchers determined was related to a change detected in the star’s magnetic field. The strength of the metal detection also synced with changes observed in the star’s magnetic field, which led the team to determine that the metal scar was located on one of the star’s magnetic poles. The star’s magnetic field pulled the metals toward the star, which led to the presence of the scar, the finding has suggested. But WD 0816-310 presents an entirely different scenario orchestrated by the star’s magnetic field.

Persons: ”, Dr, Stefano Bagnulo, Jay Farihi, John Landstreet, Landstreet Organizations: CNN —, Southern, Planetarium, University College London, Western University, NASA Locations: Chile, Armagh, Northern Ireland, Swiss, Canada

☆ Indonesia's next president Prabowo made big promises on the campaign trail. Can he deliver?
▼ + stars: | 2024-02-23 | by ( Joseph Rachman | ) www.cnbc.com time to read: +3 min

Prabowo Subianto, Indonesia's presidential candidate and defense minister, center, waves to supporters in Jakarta, Indonesia, on Wednesday, Feb. 14, 2024. JAKARTA — Indonesia's Defense Minister Prabowo Subianto is set to become the next president in October after voters handed him a strong mandate at the Feb. 14 election. Under Widodo, Indonesia's gross domestic product has grown steadily at around 5% over the past decade — barring the pandemic years of 2020 to 2021. "Because at the end of the day, the voters will compare the economic policies which have been delivered well by the incumbent president with the next president." On the campaign trail, Prabowo's discussions on economic policy were limited, and mainly focused on promises to continue the Widodo administration's signature downstreaming policy.

Persons: Prabowo, Prabowo Subianto, Gibran Rakabuming Raka, Joko Widodo, who's, Josua Pardede, Peter Mumford, Erick Thorir, CNBC's Martin Soong Organizations: JAKARTA — Indonesia's, General, Commission, Investors, Permata Bank, Eurasia Group, CNBC Locations: Jakarta, Indonesia, JAKARTA, Asia

☆ Moon Landing The Spacecraft Odysseus Prepares for Its Shot at the Moon
▼ + stars: | 2024-02-22 | by ( Kenneth Chang | ) www.nytimes.com time to read: +2 min

And whatever happens during Thursday’s landing attempt, expect more companies to race toward the moon in the years ahead. NASA is looking to send astronauts to the moon in the coming years, and robotic spacecraft will go there first. For NASA, buying rides on private spacecraft to take instruments and equipment to the moon is cheaper than building its own vehicles. Some of the companies that NASA had selected to bid for CLPS missions have already gone out of business. Among other ambitious business ideas: mining the moon for helium-3 for future fusion power plants on Earth.

Persons: Peregrine Organizations: NASA, Payload Services, International Space

☆ BHP half-year profit beats expectations, inflation impact recedes
▼ + stars: | 2024-02-20 | by ( ) www.cnbc.com time to read: +2 min

In this photo illustration, BHP logo of a multinational mining, metals and petroleum company is seen displayed on a smartphone in front of BHP Billiton logo. BHP Group on Tuesday logged first-half underlying profit that slightly beat analyst expectations, buoyed by strong iron ore prices, and said inflationary impacts were receding. BHP said underlying profit attributable to shareholders was $6.60 billion for the six months ended Dec. 31, unchanged from the previous year, but topping an LSEG estimate of $6.42 billion. It declared an interim dividend of $0.72 per share, compared with $0.90 per share a year earlier. Shares in BHP edged down 0.3% to A$45.91 amid a sour tone in resources stocks.

Persons: BHP Organizations: BHP Billiton, BHP Group, BHP, Citi Locations: China, India

☆ How Russia has avoided bankrupting itself after 2 years of waging war in Ukraine
▼ + stars: | 2024-02-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +9 min

1: By waging war outside its own bordersOne critical reason Russia's economy is still ticking is because of the location of the war. AdvertisementConsider the impact of the war on the economies of both Russia and Ukraine. In 2022, the first year of the war, Russia's economy contracted 1.2%, according to official statistics. Russia was facing a demographic crisis with a declining population and falling fertility rate even before its war with Ukraine. 4: By stimulating and steadying its economy with subsidies and policiesGovernment subsidies, spending, and policies are also propping up Russia's economy.

Persons: —, Hassan Malik, Loomis Sayles, it's, Malik, Vladimir Putin's, Sergei Guriev, Malik isn't, Alex Isakov, Putin, Alexandra Prokopenko Organizations: Service, Business, Reuters, US, Exchange, European Bank for Reconstruction, Bloomberg Economics, Vienna Institute for International Economic Studies Locations: Russia, Moscow, Boston, Crimea, Ukraine, Russian, China, India, Austrian

☆ Deep-sea mining 'seems to be inevitable,' UN regulator says, as fight for critical minerals heats up
▼ + stars: | 2024-02-19 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +1 min

It's likely only a matter of time before scraping the ocean floor for valuable metals becomes a reality, according to the head of the International Seabed Authority, the U.N. regulator that oversees deep-sea mining. "That's the commercial driver and certainly there is vast resource potential in seabed minerals. "But the resource potential is absolutely there. His comments come as the ISA prepares to recommence talks on deep-sea mining in Kingston, Jamaica next month. The seabed watchdog's forthcoming session will seek to iron out a regulatory framework that, if adopted, would give the go-ahead to deep-sea mining on a commercial scale.

Persons: It's, Michael Lodge, recommence Organizations: Authority, ISA, CNBC, Lodge, European Union, The Locations: Brussels, Kingston , Jamaica, The U.S

☆ Agnico Eagle CEO on the gold mining industry
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAgnico Eagle CEO on the gold mining industryAmmar Al-Joundi, Agnico Eagle CEO, joins 'The Exchange' to discuss current demand for metals, how Agnico Eagle operates its business, and more.

Persons: Ammar Al Organizations: Agnico, Eagle

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