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☆ Global Miners Gear Up for Energy Transition With Deals and Investments
▼ + stars: | 2023-02-27 | by ( Rhiannon Hoyle | ) www.wsj.com time to read: 1 min

Rio Tinto’s Oyu Tolgoi copper mine in Mongolia is being expanded underground as the company predicts rising demand. ADELAIDE, Australia—Global miners are spending billions of dollars on deals and raising budgets for new projects in a bet on the energy transition, changing course from a decadelong focus on shareholder payouts. BHP Group Ltd., the world’s biggest miner by market value, is close to completing its biggest acquisition since 2011 with copper-and-gold miner OZ Minerals Ltd. recommending its shareholders vote in favor of the more-than $6 billion bid. Two months ago, Rio Tinto PLC bought out minority shareholders in Canada-listed Turquoise Hill Resources in a $3.1 billion deal to get more exposure to a giant copper deposit in Mongolia.

BENGALURU/MELBOURNE, Feb 14 (Reuters) - Australia's iron ore giants BHP Group, Rio Tinto and Fortescue are set to report a steep drop in their earnings, which is set to compress their payouts to shareholders, after China's COVID lockdown drove down iron ore prices. Average realised prices for iron ore fell sharply in the six months to December, hitting earnings. First-half net profit at Fortescue, reporting on Feb. 15, is seen declining to $2.34 billion from $2.78 billion. Underlying half-year profit at Rio Tinto, which reports on a calendar year cycle, is seen declining 48% to $4.77 billion from $9.21 billion. Rio will report on Feb. 22.

☆ Fans want a popular TikToker to replace 'Rick and Morty' co-founder Justin Roiland in 'Adult Swim' series
▼ + stars: | 2023-01-26 | by ( Mara Leighton | ) www.businessinsider.com time to read: +5 min

Fans are lobbying for TikTok creator Sean Dorrough to replace Justin Roiland in 'Rick and Morty.' Fans have flooded Dorrough's accounts, tagging Adult Swim and leaving comments like "Replace Justin for Rick and Morty," and "Any calls from Adult Swim yet?" Dorrough told Insider he'd reached out to Roiland about a year ago after noticing an interview in which Roiland mentioned Dorrough's impressions. And, Dorrough told Insider, it's why he doesn't "dub a lot of cartoons." As a spokesperson previously told Insider, "Adult Swim has ended its association with Justin Roiland."

☆ Italy’s Friuli region is one of Europe’s best kept secrets
▼ + stars: | 2023-01-18 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +10 min

With 13 natural reserves and the pristine park of the Friuli Dolomite Mountains, the region lures tourists seeking to connect with nature or explore the outdoors. There’s also the spellbinding Grotta Gigante, or Giant Cave, one of the world’s largest tourist caverns. Golden beachesThe Grotta Gigante is one of the world's largest tourist caverns. Trieste boasts an unusual segregated beach, with origins dating back several centuries. “Residents are very fond and proud of this place,” says Trieste local Maria Bonacci.

☆ How 'Real Housewife' Jen Shah's fabulous life came crashing down
▼ + stars: | 2023-01-06 | by ( Stephanie Clifford | ) www.businessinsider.com time to read: +43 min

The woman wrote to the judge overseeing Shah's case that she'd had to remortgage her house, almost divorced, and "thought about ending my own life." The couple decided that he should get his degree while Jen Shah dropped out of college to work. (Shah told a judge at her 2022 plea hearing that she had been treated for "alcohol and depression" two years prior. Koa Johnson, Jen Shah's former fashion designerWhen Sharrieff Shah did participate in filming, he quickly became a fan favorite, calm and sensible. Once the show aired and Jen Shah developed a fan base, her behavior became more dramatic, Johnson said.

☆ Rio Tinto completes $3.3 bln Turquoise Hill deal for larger share in Mongolia project
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Rio Tinto logo is displayed on a visitor's helmet at a borates mine in Boron, California, U.S., November 15, 2019. Turquoise Hill shareholders last week voted in favour of Rio Tinto's $3.3 billion bid to take the Canadian company private after months of back and forth. 2 shareholder Pentwater Capital Management accused Rio of concealing delays and huge cost overruns at Oyu Tolgoi. BHP Group last month made a renewed $6.5 bln play for copper miner OZ Minerals, potentially allowing the miner to consolidate its copper assets in South Australia if the deal goes through. Shares of Rio Tinto finished 0.8% higher on the Australian Stock Exchange.

☆ 'Avatar' sequel earns film critics' praise for visual spectacle
▼ + stars: | 2022-12-13 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

[1/2] Fans attend a premiere for the film Avatar: The Way of Water, at Dolby theatre in Los Angeles, California, U.S., December 12, 2022. REUTERS/Mario AnzuoniLOS ANGELES, Dec 13 (Reuters) - The long-awaited sequel to groundbreaking movie "Avatar" won praise on Tuesday from movie critics who said they were awed again by director James Cameron's visual artistry. The sequel offers more advanced 3D images, showcasing aquatic creatures on the lush moon of Pandora. "'Avatar: The Way of Water' is such a screen-popping visual feast it earns the 3-hour, 12-minute running time," said Richard Roeper of the Chicago Sun-Times. Studios split ticket sales with theaters, and Cameron told GQ magazine that "The Way of Water" will need to make $2 billion just to break even.

☆ TSX posts biggest weekly decline since September as oil tumbles
▼ + stars: | 2022-12-09 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 22.12 points, or 0.1%, at 19,947.07, its lowest closing level since Nov. 17. For the week, the index was down 2.6%, its biggest weekly decline since September. The Toronto market's energy sector fell 0.7% as U.S. crude oil futures settled 0.6% lower at $71.02 a barrel. Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Turquoise Hill shareholders approve Rio Tinto's $3.3 bln buyout bid
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

Dec 9 (Reuters) - Shareholders of Canada's Turquoise Hill (TRQ.TO) on Friday voted in favour of Rio Tinto's (RIO.L), (RIO.AX) $3.3 billion bid to take it private and gain direct control over a giant Mongolian copper mine. Turquoise Hill said 86.6% voted to approve Rio Tinto acquiring 49% of shares that it does not already own, giving the Anglo-Australian miner a 66% stake in Oyu Tolgoi, the world's largest known copper and gold deposit. The vote clears the way for Rio Tinto to gain more autonomy over Oyu Tolgoi, which is 66% owned by Turquoise Hill and 34% by the Mongolian government, and operated by Rio. Friday's shareholder meeting was repeatedly delayed due to opposition of key minority shareholders of Turquoise Hill, including funds Pentwater Capital and SailingStone Capital. Rio Tinto had agreed to let the two dissenting parties withhold their votes and make claims via an arbitration process, a deal that was subsequently scrapped as it raised regulatory concerns.

☆ Rio Tinto’s Mongolian purgatory is finally over
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

LONDON, Dec 9 (Reuters Breakingviews) - Finally, something has gone right for Rio Tinto (RIO.L) in Mongolia. Rio boss Jakob Stausholm squeaked home with 60.5% of minority votes cast, just over the 50% threshold. It’s a massive win for Stausholm and Rio copper boss Bold Baatar. Oyu Tolgoi still needs more than $3.5 billion of funding. Instead, Rio is handing them C$43 per share in cash – a 70% premium to the price in March.

Buying out the Turquoise Hill minority shareholders is Stausholm’s other initiative. Imagine minority shareholders vote down the offer, but Rio then has Turquoise Hill issue fresh equity. With minimal net debt, the miner had enough cash to buy more Turquoise Hill equity. Rio shareholders soon will see just how well Stausholm plays. Pentwater Capital Management and SailingStone Capital Partners, which own respective 15.2% and 2.2% stakes in Canada-based Turquoise Hill, have resisted the offers.

☆ 19 best white elephant and Secret Santa gift ideas under $50
▼ + stars: | 2022-12-02 | by ( Mili Godio | Mili Godio Is An Associate Reporter For Select On Nbc News. | ) www.nbcnews.com time to read: +11 min

What is a white elephant gift exchange? A white elephant gift exchange — sometimes referred to as a Yankee swap — is a fun holiday activity in which everyone brings one wrapped gift and leaves with a different one. To help even the odds, most white elephant gift exchanges work best when all the gifts align in cost — typically within the $30-to-$75 range. What is a Secret Santa gift exchange? The best white elephant and Secret Santa gift ideasTo help you find the right gift for your white elephant and Secret Santa gift exchanges, we rounded up gift ideas based on our previous coverage and reader interest, all under $50.

☆ In Mexico, Aztec dig sets new records as royal mystery deepens
▼ + stars: | 2022-11-24 | by ( David Alire Garcia | ) www.reuters.com time to read: +4 min

[1/10] A general view of the Templo Mayor where several ritual offerings have recently been found just off the steps of the Templo Mayor, the Aztec empire’s most sacred temple, in Mexico City, Mexico November 15 , 2022. MEXICO CITY, Nov 24 (Reuters) - An extensive cache of Aztec ritual offerings found underneath downtown Mexico City, off the steps of what would have been the empire's holiest shrine, provides new insight into pre-Hispanic religious rites and political propaganda. Archeologists believe Aztec priests carefully layered these offerings in the box within the elevated platform for a ceremony likely attended by thousands of rapt spectators amid the thunder-clap of drums. AZTEC WORLDVIEWTo date, no Aztec royal tomb has ever been found despite more than 40 years of digging around the Templo Mayor, where more than 200 offerings boxes have been found. Reporting by David Alire Garcia; Editing by Stephen Eisenhammer and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Rio swaps wild goose chase for white-knuckle ride
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +2 min

SHARM EL-SHEIKH, Egypt, Nov 18 (Reuters Breakingviews) - Rio Tinto’s (RIO.L) tortuous quest to buy out minorities in Turquoise Hill Resources (TRQ.TO) just got even worse. Now a side deal to remove Pentwater Capital Management and SailingStone Capital Partners from the deciding vote has fallen apart. Rio needs Turquoise Hill, which controls two-thirds of Mongolian mega-mine Oyu Tolgoi, to ensure a tighter grip on one of its key growth projects. But to win the vote it needs a simple majority of the minorities, and Pentwater and SailingStone have over 30% already. Hence the attempted side deal, which would have outsourced the valuation of the two minorities’ stakes to an arbitration process.

☆ Turquoise Hill further delays shareholder meet on $3.3 bln Rio Tinto buyout
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: 1 min

Nov 6 (Reuters) - Canadian miner Turquoise Hill Ltd (TRQ.TO) said it has once again postponed by a week its special shareholder meeting to vote on the proposed take over by Rio Tinto Plc (RIO.L), (RIO.AX) on a request by the mining giant. The meeting to approve Rio Tinto acquiring 49% of shares of Turquoise Hill that it does not own for $3.3 billion, which was originally scheduled for Nov. 1, was postponed to Nov. 8, and now has been pushed back to Nov. 15. Turquoise Hill said Rio, which raised its offer to C$43-per-share, had postponed the meeting at the request of the financial regulator of Quebec and was in talks with the Canadian company's special committee of independent directors and the regulator about the deal. Reporting by Gokul Pisharody in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

The respective chief executives of $139 billion Philip Morris International (PM.N) and $95 billion Rio Tinto (RIO.L) are attempting takeovers that are central to their strategies. Olczak, who needs 90% of shareholders to accept in order to automatically de-list the company, initially faced opposition to his $16 billion offer. The mining giant asked for the postponement at the request of Quebec’s financial regulator, Turquoise Hill said. Two key investors in Turquoise Hill have agreed to withhold their votes on the bid, with their final deal dependent on Canadian arbitration. Turquoise Hill shares closed at C$41.6 on Nov. 4.

☆ Euronext Italian arm to become group-wide clearer from end 2023
▼ + stars: | 2022-11-03 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Nov 3 (Reuters) - Pan-European stock exchange Euronext (ENX.PA) said on Thursday that customers will be able to clear all share trades at its Italian arm from the end of 2023, a move that ends reliance on a London Stock Exchange Group (LSEG) unit in Paris. "This is the first milestone in the transformation of Euronext Clearing to create the Euronext clearing house of choice for its cash equity markets," Euronext said in a third quarter trading statement. Clearing in Euronext credit derivatives will follow in 2024. As many are likely to shift stock and derivatives trading to Italy given efficiencies from using one location. Earlier this week, Deutsche Boerse's Eurex Clearing offered payments to buy-side customers who relocate derivatives clearing from London in 2023 in anticipation of the EU legislation.

SummarySummary Companies Barrick now expects to exceed 2022 cost guidanceQ3 profit down 30% as gold production falls by 9%All-in sustaining costs up 22.7% from last yearNov 3 (Reuters) - Barrick Gold Corp (ABX.TO), shares hit their lowest level since March 2020 on Thursday after the world's second-biggest gold miner reported a 30.1% drop in third-quarter profit due to weak production and higher costs. Toronto-listed shares were down 6.9% to 18.26 Canadian dollars, on track for their biggest one-day drop in two years. The cost increase was largely down to a 9% fall in gold production from 1.09 million ounces to 988,000 ounces, CEO Mark Bristow told Reuters in an interview. Barrick remains on track to achieve its 2022 production guidance, Bristow said in a statement. Gold prices declined 8% during the third quarter as global central banks raised interest rates to battle surging inflation.

☆ Two Turquoise Hill investors to withhold votes on Rio Tinto's $3.3 bln bid
▼ + stars: | 2022-11-01 | by ( Yousef Saba | ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - Rio Tinto (RIO.AX) on Wednesday said two key investors in Turquoise Hill Resources (TRQ.TO) agreed to withhold their votes at a meeting to decide on the global miner's $3.3 billion offer for the Canadian firm. Pentwater, Turquoise's second-largest shareholder, and SailingStone Capital Partners will also exercise their dissent rights, and Rio will increase the dissent condition under its proposal to 17.5% of issued Turquoise Hill shares from 12.5%. Dissent rights allow shareholders to sell their stake at fair value if a company takes a decision that they do not agree with. Pentwater and SailingStone have been the most vocal in opposing Rio's C$43-per-share offer for the 49% of Turquoise Hill it does not already own as "too low". read moreTurquoise Hill earlier on Wednesday delayed a special shareholder meeting to vote on the proposed deal by a week to Nov. 8 at Rio Tinto's request.

☆ Turquoise Hill delays shareholder meet on $3.3 bln Rio Tinto buyout
▼ + stars: | 2022-11-01 | by ( Yousef Saba | ) www.reuters.com time to read: 1 min

Nov 1 (Reuters) - Canadian miner Turquoise Hill Resources Ltd (TRQ.TO) said on Tuesday it would delay by a week to Nov. 8 a special shareholder meeting to vote on a proposed takeover by Rio Tinto Plc (RIO.L), (RIO.AX) following a request from the mining giant. Rio has proposed a $3.3 billion deal for Turquoise Hill shares it does not already own, seeking a 66% stake in Oyu Tolgoi in Mongolia, the world's largest known copper and gold deposits. Rio raised its offer to C$43-per-share but still faces opposition from multiple parties including Turquoise Hill's second-largest shareholder Pentwater Capital Management, as well as proxy advisor Institutional Shareholder Services (ISS). Reporting by Ruhi Soni in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ Is Running an Ultramarathon Insane? Possibly. But for ‘Runcationers,’ These 5 Are the Most Tempting.
▼ + stars: | 2022-10-21 | by ( Ryan Lenora Brown | ) www.wsj.com time to read: +1 min

THE FIRST TIME Cathy Hopkins crossed the finish line of the Comrades ultramarathon in South Africa, she swore to herself: never again. Yes, the 56-mile race between the cities of Pietermaritzburg and Durban had been beautiful. Fans several bodies deep lined the course, dancing, undulating and cheering on the 20,000 runners who’d capriciously decided to run two back-to-back marathons on a Southern Hemisphere winter morning. But running up and down those hills for 11 hours straight was also insane, she decided. “It was such a profound experience,” she said, to watch thousands of determined, if slightly unhinged, strangers push each other toward a massive goal.

The eight people trapped in the Hideaway Village motel realized that they may die as geysers shot up through the buckling floors and the deadbolts holding their doors shut snapped like toothpicks under Hurricane Ian’s assault. After the motel crashed and the roof above the women gave way, a motel employee next door pulled them out of the water. The wrecking of the Hideaway Village motel, pieced together through interviews with survivors, reveals how the storm’s death count could have easily been much higher than 135 people, according to an NBC News tally. Hurricane Ian tore the roof off the Hideaway Village motel. But on Sept. 27, the women arrived at the Hideaway Village motel, full of energy, under the impression that the storm’s threats were overstated, Maston said.

☆ Inside the only lithium producer in the U.S., which provides critical mineral used in batteries by Tesla, EV makers
▼ + stars: | 2022-10-14 | by ( Pippa Stevens | ) www.cnbc.com time to read: +14 min

The town's mining roots are still on display, but the action has shifted to the country's largest lithium brine operation 45 minutes away. Specialty chemicals company Albemarle acquired the site in 2015 from Foot Mineral Company, and has owned it ever since. Under the International Energy Agency's most ambitious climate scenario, lithium supply will have to grow 40-fold by 2040 from today's levels. The U.S. used to be a leader in lithium production, but it's since ceded that position to foreign nations, including China. Albemarle's Silver Peak lithium plant spans 13,000 acres.

☆ Barrick's quarterly gold output falls sequentially
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

Oct 13 (Reuters) - Barrick Gold Corp (ABX.TO), on Thursday reported a fall in third-quarter gold output from the previous quarter and said it expects full-year gold production to be at the low end of the range it forecast earlier. The world's second-largest gold miner warned in August it could exceed its gold production cost guidance as miners battle with inflation and rising costs of labor, energy and mining supplies. Barrick earlier this year forecast 2022 gold production of 4.2 million to 4.6 million ounces. It said its third-quarter gold output fell due to weak production from its Veladero, Carlin and Turquoise Ridge mines. Barrick said the average realized price for the precious metal during the quarter was $1,729 per ounce, down from $1,871 per ounce in the second quarter.

☆ Wealthy people who moved to Miami are rejecting Florida traditions and radically transforming their homes instead
▼ + stars: | 2022-10-12 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +7 min

"They're willing to bring their New York aesthetic down into Miami, or their LA or Beverly Hills aesthetic down into Miami." Miami newcomers aren't afraid to break away from aesthetic normsEilyn, who said her design style is more personable and poised, was born and raised in Miami. The result is a modern beach home that includes elements of classic Miami design "mixed with the tranquility of Mykonos" that combines a simple color palette with pops of visual interest. "You can incorporate details that maybe you wouldn't see so much in Miami design," she said. It means they have a steady stream of work, with the possibility to be creative and stretch their imaginations as they shape the future of Miami design.

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