The US Department of Defense (DoD) will become the largest shareholder in MP Materials (NYSE:MP) after agreeing to purchase US$400 million worth of preferred stock in the company, which owns and operates the only rare earth mine in the United States. The rare earths producer said the proceeds from the…
Here’s a quick recap of the crypto landscape for Friday (July 11) as of 9:00 a.m. UTC. Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news. Bitcoin and Ethereum price update Bitcoin (BTC) is priced at US$118,008 a 6.3 percent increase…
Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category. In other…
President Donald Trump’s proposed 50% tariff on Brazilian imports is bad news for coffee drinkers. Brazil, the largest U.S. supplier of green coffee beans, accounts for about a third of the country’s total supply, according to data from the U.S. Department of Agriculture. Coffee beans need to grow in a…
Brazil’s financial markets experienced a shaky opening on Thursday after US President Donald Trump unexpectedly raised new tariffs on Brazilian exports to 50%, compared to the 10% level he had earlier proposed. According to Reuters, the decision reverberated through financial circles, triggering the largest currency tumult in months, as well…
WK Kellogg Co (NYSE: KLG) soared about 30% on Thursday morning after Italian confectionary giant Ferrero said it will buy the cereal maker for $3.1 billion.Ferrero’s deal values each KLG share at $23, representing about a 40% premium on its previous close. The acquisition marks its latest push into the…
Heatwaves are fueling increased spot LNG purchases in Asia, according to Rystad Energy.Arbitrage opportunities for US-origin liquefied natural gas (LNG) for September delivery to Asia were short-lived, opening on July 4 and 7, but closing again on July 8, Rystad Energy said in its latest update.Due to the current weak…
Delta Air Lines Inc (NYSE: DAL) may have delivered a blockbuster earnings report on Thursday – but investors hoping for a smooth ascent in airline stocks should keep their seatbelts fastened.The flagship carrier posted record quarterly revenue of $16.65 billion on $3.27 a share of earnings for its fiscal Q2…
JPMorgan Chase & Co. is evaluating changes to the structure of its widely tracked emerging-market bond benchmark that could reduce the influence of some of the largest sovereign debt issuers, including China and India. According to documents reviewed by Bloomberg, the Wall Street bank has proposed lowering the maximum weight…
Jane Birkin’s famous Hermès bag became the first handbag to be sold above $10 million after it was auctioned at Sotheby’s in Paris.The auction marks a new milestone in the world of fashion as it becomes the most expensive handbag ever sold. Collectors and observers of fashion for days now…