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Bloomberg

Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

As gold smashes records, forecasters ask whether peak is near

28th July 2020 Gold has just smashed a record, and every major bank agrees that it’ll cross $2 000/oz. What happens next is where forecasts diverge. JPMorgan Chase & Co says the rally that has already seen prices rise 28% in 2020 could start to lose steam later this year. Citigroup and Bank of America Corp... 

Europe’s coal heartland starts talks on phasing out the fuel

28th July 2020 Poland’s government is starting discussions with utilities and powerful mining unions about speeding up the country’s green transformation. The European Union’s most coal-dependent country has kept quiet about the details of its plans, which local newspapers reported include a target to stop... 

US Mint has reduced silver, gold coin supplies to purchasers

28th July 2020 The US Mint has reduced the volume of gold and silver coins it’s distributing to authorized purchasers as the coronavirus pandemic slows production, a document seen by Bloomberg shows. The Mint’s West Point complex in New York is taking measures to prevent the virus from spreading among its... 

Gold futures touch record as haven demand builds, contract rolls

27th July 2020 Gold futures traded at a record as the dollar plunged and concerns about the global economy boosted demand for havens, while the most-active contract rolled to a month that had already topped the all-time high. Bullion’s move came as a gauge of the dollar fell to the lowest in more than six... 

The dilemma of Covid-19’s second wave

25th July 2020 Shuttering businesses, grounding airlines and ordering people to stay home was hard enough the first time. The thought of having to do it all over again is something world leaders don’t want to even contemplate. From Italy to New Zealand, irrespective of how well the virus was contained,... 

De Beers rethinks business after diamond collapse exposes cracks

25th July 2020 De Beers is considering ways to restructure mines, expand in jewelry and overhaul diamond sales, as the world’s biggest and oldest producer rethinks its entire business in an industry left paralyzed by the pandemic. The company founded by British imperialist Cecil Rhodes in the late 1800s was... 

The message behind gold’s rally: the world economy is in trouble

25th July 2020 It’s easy to forget now but there was a time early on in the pandemic when the price of gold was in freefall. It was a curious thing, what with the virus sparking a collapse in the global economy, and it would prove in time to be one of the great head-fakes in the recent history of financial... 

Zaldivar copper miners accept wage deal, averting Chile strike

25th July 2020 Workers at Antofagasta’s Zaldivar copper mine in Chile accepted a revised wage offer, averting a strike that threatened to add to supply concerns in the metal’s top-producing nation. Union members voted 387 in favor of the definitive offer to 236 against in polling that ended Saturday, according... 

Eskom’s gross debt level increases to R480bn

24th July 2020 Eskom Holdings' gross debt surged to R480-billion, after the struggling State-owned power utility borrowed from its lines of credit, documents seen by Bloomberg show. The increase, from a previously disclosed level of R454-billion, comes as the company struggles to meet running costs, including a... 

Markets reward companies that treat workers well in a crisis

24th July 2020 For millions of Britons, March 24 will be remembered as the lockdown moment when they either lost their job or were told not to come back to work for months. For Andy Howard, it was the day his workload doubled. In addition to running a team of 13 investment analysts at London-based asset manager... 

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