China is limbering up for a massive trade counterattack against the EU after its thriving electric vehicle market took a brutal hit following the European Union’s decision to impose substantial additional taxes on all EVs made in China. China stated after the announcement that it “firmly opposed” the “protectionist” decision. It has already launched retaliatory […]
Electric Vehicle Trade Battle Read More »
Stocks faced challenges on Monday as rising oil prices and increased Treasury yields dampened market sentiment. The Dow Jones Industrial Average fell 398.51 points, or 0.94 per cent, to close at 41,954.24. The S&P 500 decreased by 0.96 per cent, settling at 5,695.94, while the Nasdaq Composite dropped 1.18 per cent to finish at 17,923.90.
US market declines as oil prices and treasury yields rise Read More »
Crude oil prices jumped again on Friday, bringing the weekly gain to around 8%. Oil has been pushed higher due to the intensifying conflict in the Middle East following Iran’s response to Israeli attacks. Energy stocks have surged alongside the rally in oil prices, with the S&P 500 energy sector up 7%. This marks the
Weekly oil gains reach 8% as geopolitical conflicts intensify Read More »
With Rio seemingly pursuing Arcadium, Australia’s largest investor, AustralianSuper, has moved to boost its shareholding in Pilbara Minerals. AustralianSuper has increased its already substantial stake in one of the country’s best-performing (and surviving) lithium miners, Pilbara Minerals, over the past three months. The fund spent $64 million buying 32 million shares, raising its stake to
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Rio Tinto (ASX:RIO) wants to acquire the US-Australian-Argentinian lithium group Arcadium in a deal that could ignite consolidation across the struggling industry. Media reports indicate that Rio has been in talks to buy the lithium miner Arcadium, a move that would make Rio the third-largest producer of the electric vehicle battery metal. The price is
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China has not made any gold purchases for the fifth consecutive month, as the surge in gold prices to new record highs has kept the world’s largest investor on the sidelines. Figures released Monday regarding China’s foreign reserves for September showed that gold reserves remained unchanged for the fifth month in a row at 72.8
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