Author: Press Room
The London Metal Exchange (LME) and the Shanghai Futures Exchange (SHFE) are hinting at a potential collaboration in the wake of criticisms over the LME’s handling of a market crisis. At the CRU World Conference Asia, Zhang Bizhen, managing director at Minmetals Futures Co, pointed out the shortcomings in LME’s risk control systems, referencing the 2022 nickel short squeeze that led to a significant trading halt and the cancellation of transactions worth billions. Zhang, who did not hold back on his critique, suggested that LME should consider adopting some of the strategies implemented by SHFE to enhance investor security. This…
Warner Music GAAP EPS of $0.29 beats by $0.04, revenue of $1.59B beats by $20M
The South African rand, after experiencing its most significant two-day gain since July earlier this week, has seen its rally falter as of today. The currency was trading at 18.2200 against the dollar at 0632 GMT, marking a slight decline of 0.1% from its previous close. This comes after a surge in the rand’s value following softer-than-expected US consumer inflation data released on Tuesday, which had initially boosted risk-sensitive currencies like the rand. The initial optimism had also been fueled by strong local retail sales figures and a spike in demand for South African bonds, with Tuesday witnessing the highest…
In 2021, Robert F. Kennedy Jr. earned more than $500,000 as the chairman and top lawyer at Children’s Health Defense, the nonprofit organization that he has helped build into a leading spreader of anti-vaccine falsehoods and a platform for launching his independent bid for the White House.The compensation was almost three times as high as the amount paid to the organization’s president, but it was not Mr. Kennedy’s biggest source of income. Neither was his family’s fabled wealth. Instead, most of his earnings around the same time came from law firms — a total of $7 million for lending them…
Redwood Materials and Toyota announced a major new deal on Thursday. The agreement will mean Redwood can recycle batteries from millions of old Prius hybrids. Toyota will then use some of that salvaged material to make new EV batteries. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app If there was any doubt about Toyota’s commitment to electric vehicles, a new deal announced on Thursday should clear things up. Redwood Materials, a battery recycling startup run by Tesla cofounder JB Straubel, unveiled a big new agreement with…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Siemens warned of slowing sales growth in the next year owing to flat growth in China, even as it reported record profits in its flagship industrial business. The Munich-based industrial group on Thursday said profit margins in its industrial business arm hit a record 15.4 per cent on the back of sales growth of 11 per cent in the past fiscal year ending in September. Sales next year were likely to grow between 4 per cent and 8 per cent, the company…
DUBAI (Reuters) – The International Monetary Fund said on Thursday that Oman’s economic recovery was continuing, while inflation remained contained, supported by favourable oil prices and sustained reform momentum. “The economic outlook remains favourable. While growth is projected to slow down this year to 1.3 percent due to OPEC+ related oil production cuts, it is set to rebound starting in 2024, supported by higher hydrocarbon production and stronger non-hydrocarbon growth,” the Fund added.
© Reuters. Gossamer Bio (NASDAQ:), a biotechnology firm, has recently come into focus due to the unique composition of its ownership. Individual investors hold a majority stake of 51%, which affords them significant influence over the company’s management decisions. This level of control by non-institutional shareholders is atypical in the industry and could impact the direction of the company in substantial ways. The company’s shareholder structure is diverse, with the top 25 shareholders owning 44% of the stock, yet without a single entity holding a clear majority. This distribution suggests that decision-making power is spread across a broad group, potentially…
© Reuters The recent escalation in the Israel-Gaza conflict, following the October 7 attacks by Hamas on Israeli towns, has intensified global economic concerns with potential repercussions reminiscent of the 1973 Arab oil embargo. The World Bank warns that oil prices could spike to as high as $157 per barrel if the situation deteriorates further. In contrast, financial institutions like Goldman Sachs and UBS anticipate more stability in oil prices, forecasting a range between $90 to $100 per barrel over the next year. The conflict has already left a stark mark on the local economies of Gaza and the West…
BrightView Non-GAAP EPS of $0.19 misses by $0.17, revenue of $743.7M misses by $3.09M