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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.

Copper producer’s all-male board is spotlighted by proxy firm

24th July 2020 A proxy advisory firm for financial institutions such as hedge funds is taking issue with one of the world’s top copper producers for its lack of gender diversity in the board room. Institutional Shareholder Services is recommending that shareholders withhold their support from the entire board... 

Gold nears $1 900 as veteran Mobius says keep buying

24th July 2020 Gold traded near $1 900 an ounce, edging closer to its all-time high set almost nine years ago, as concerns about global growth buoyed haven demand. Increasing signs that the prolonged coronavirus pandemic is stalling an economic recovery and the recent surge in tensions between the US and China... 

Tesla Congo cobalt deal means millions for sanctioned Gertler

22nd July 2020 Elon Musk may help sanctioned Israeli billionaire Dan Gertler get a little richer. Tesla, the company Musk runs, struck a deal last month with Glencore to buy as much as 6 000 tons of cobalt annually for use in the rechargeable batteries that power its electric vehicles. Glencore, in turn, is... 

Silver jumps to 2013 high, gold nears record on virus concerns

22nd July 2020 Silver jumped to the highest in almost seven years and gold continued its march toward a record on expectations more stimulus is needed to help the global economy recover from the coronavirus pandemic. Investors have flocked to the precious metals on surging demand for havens amid a resurgence... 

Foreign investors shun South African gold stocks on virus fears

22nd July 2020 Not even a record rally can entice foreign investors to South African gold stocks. With gold prices soaring on the heels of monetary stimulus, shares in producers of the metal are back in favor around the world. But investors are fretting about supply disruptions at South Africa’s mines as a... 

Wall Street is throwing billions at once-shunned gold miners

21st July 2020 A year ago, you couldn’t get Wall Street to touch most gold miners’ stocks. Today, it’s throwing billions at the industry. Precious-metals miners once seen as too leveraged and high-risk for the typical investor raised $2.4-billion in secondary equity offerings during the second quarter, data... 

Chevron to buy Noble for $5bn in rare oil-bust deal

21st July 2020 Chevron Corp. agreed to buy Noble Energy for about $5-billion in shares as the oil giant looks to beef up in the Permian Basin amid the wreckage of the worst-ever crude crash. The takeover is the industry’s first major deal since the coronavirus triggered a severe slump and the largest since... 

Silver futures step out of gold’s shadow in surge to three-year high

21st July 2020 Silver futures are latching on to gold’s rally, climbing above $20/oz to the highest since 2016 on rising haven demand and concerns about supply of the white metal. Gold and silver have surged this year as the coronavirus pandemic roiled the global economy, spurring sustained demand for havens... 

Stuck with coal pits the world needs, but few want

20th July 2020 The Mt Arthur coal mine in Australia is one of the world’s best. It’s got plenty of reserves and the low-cost supplies produced there are easily shipped to Southeast Asia, where there’s insatiable appetite for the fuel. Yet owner BHP Group has a problem: It’s struggling to find a buyer willing... 

Iron-ore's African future is slowly advancing, Rio Tinto says

20th July 2020 Rio Tinto Group is making progress on the development of Guinea’s giant Simandou iron-ore deposit, bringing a potential overhaul of global supply of the steel-making material closer into view. Firing up production from the small West African nation would add a new source of high-quality ore and... 

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