Europe

After taking office, U.S. president Donald Trump continues to criticize and take action against corporate executives, institutions and corporations. His actions, from innovative export deals to freezing university grants, have upended the status-quo between government, law and academia. Trump has publicly attacked a number of influential individuals and entities. HILTON WORLDWIDE HOLDINGS Hilton has removed a Minneapolis-area hotel from its system after a Department of Homeland Security posted on X that the hotel operator had "impeded" law enforcement by refusing to accept bookings for Immigration and Customs Enforcement (ICE) agents. "We will remove this hotel immediately from our system." Hilton...

The Financial Times reported that the U.S. oil giant Chevron, along with private equity group Quantum Energy Partners, are teaming up to bid on the international assets of Russian oil company Lukoil, valued at $22 Billion. Chevron's exploration and production portfolio is diverse, globally. The company continues to evaluate potential opportunities. "In all of its activities, Chevron adheres to a code of ethics for business and follows?laws that are applicable to our business." Quantum, Lukoil, and the White House didn't immediately respond to comments. Reports in November said that Chevron was examining options to purchase Lukoil’s global assets. This would...

The?Italian?government and Pirelli, the?tiremaker, are looking at new ways to stop Sinochem from investing in the?company based in Milan. This is due to pressure coming from?the United States. The Financial Times reported Tuesday that the United States was exerting pressure on Pirelli. Camfina, Pirelli's Italian-American investor, had complained earlier that Sinochem was preventing the tyremaker from expanding in the U.S. as Washington tightens restrictions on Chinese technology for the automotive industry. According to LSEG 'data, Sinochem is Pirelli’s?largest shareholder with a stake in the company of approximately 34.1%. Rome is considering a new intervention, as Washington's upcoming ban on Chinese-backed...

The oil prices dropped on Tuesday as the market anticipated a large global supply in the face of a weak demand and weighed the possibility of a higher Venezuelan crude production following the capture of President Nicolas Maduro by the U.S. Brent crude futures dropped?0.2% or 14 cents to $61.62 a barge by 0450 GMT, while U.S. West Texas Intermediate Crude was at $58.13 a barge, down 0.3%, or 19 cents. Priyanka sachdeva, senior analyst at Phillip Nova, said that the response of oil prices to major geopolitical issues, like the U.S. action in Venezuela or the ongoing strikes against...

The Dow Jones Industrial Average reached a new high on Tuesday as oil companies and financials gained. The U.S. oil industry got a boost after the military raid that took place in the U.S. over the weekend, which captured Venezuelan president Nicolas Maduro. Crude oil fell back $1 per barrel after it rose overnight as traders assessed possible impacts on crude oil flows from Venezuela. Venezuela is home to the largest oil reserves in the world. The events have had a limited impact on the risk sentiment. Equities are driven by momentum, while currencies are based on macroeconomic data. The...

Phillips 66, a U.S. refiner, announced on Monday that it has agreed to purchase the assets and infrastructure from the?Lindsey Oil Refinery located in northern England after the site was liquidated. Phillips 66 will also integrate?the main facilities into its Humber Refinery. The Lindsey Refinery closed down in July of last year, after the previous owner Prax went bankrupt. This put the 420 jobs on the site in danger. Phillips 66 did not reveal the value of the deal, but said that it decided to not restart standalone operations in the refinery after a thorough review during the bid process....

Phillips 66, a U.S.-based refiner, announced on Monday that it had?agreed? to purchase the assets and infrastructure from the Lindsey Oil Refinery located in northern?England after the site was liquidated. It will also integrate the key facilities with its Humber?Refinery. The Lindsey Refinery closed last July after the previous owner Prax went bankrupt, putting 420 jobs on the site in danger. Phillips 66 did not reveal the value of the deal, but said that it decided to not restart standalone operations in the refinery after a thorough review during the bid process. The site, they stated, was 'unviable as is,...

Keir starmer, British Prime Minister said that the United States was responsible for justifying its actions after it captured President Nicolas Maduro. He described the situation as being "not straight forward." "What Venezuela needs is a peaceful, democratic transition." Starmer said that this was the?position we held before the weekend and it is still our position. "International law is a framework, anchor, or benchmark against which we judge all other governments' actions. It is up to the U.S., of course, to justify "the actions" that they have taken. It's not easy. Even today, new developments continue to occur." Maduro was...

Investors warn that the geopolitical risk may be underestimated by markets after Donald Trump threatened to take further action in America. After President Trump announced that the U.S. will take over the oil-producing nation, investors held their nerve, despite oil prices falling modestly. Gold prices rose, however, due to safe-haven flows. Trump's threats towards Colombia and Mexico, while Washington hasn't made such an aggressive intervention in Latin America since 1989 when it invaded Panama, highlighted the aggressive change in U.S. policies and brought geopolitical risks to the forefront for financial markets in the beginning of the year. Vishnu Varathan is...

In a New Years interview, Venezuela's President Nicolas Maduro stated that his country was willing to accept?U.S. Investment in Venezuela's oil sector is welcome, as are efforts to coordinate the fight against drugs and hold serious discussions with the United States. "We have to start speaking seriously with facts in hand," Maduro stated in his annual interview, which was originally published in the Mexican newspaper La Jornada, and broadcast by Venezuelan state TV on New Year's Day. Venezuela is prepared to accept U.S. investments, such as those made by Chevron, whenever, wherever and however they choose. The comments echo statements...

JSW, a state-controlled Polish mining company, warned employees on Friday that they would suffer irreversible consequences should unions not accept a rescue plan which includes cost-cutting in order to ensure government assistance. Union leaders said that the cuts would place 80% of the financial burden onto employees. Talks between the management board, and the unions, on Tuesday, ended in deadlock. JSW management wrote to unions on Friday to explain that a "temporary limit of the level?of labour costs", was intended to help the company return to profitability after financial losses were incurred in 2025 due to a drop in the...

Venezuelan President Nicolas Maduro extended an olive branch towards U.S. president Donald Trump by proposing serious discussions on fighting drug?trafficking, and offering U.S. firms ready access to Venezuelan crude oil. Maduro called Venezuela a "brother" country and friendly government to the United States. He noted that, when they last spoke in November the U.S. President acknowledged his authority and addressed him as "Mr. President." An interview with the long-time Venezuelan leader was filmed New Year's Eve, and aired by Venezuelan state TV in the evening of New Year's Day. Maduro, his interviewer and the journalist walked through a militarized area...

De Beers' CEO,?Tony?Taylor, said that Anglo American is looking to sell its stake in De Beers and has received interest from business groups as well as African governments. Al Cook, CEO of De Beers said that Botswana Angola Namibia, all of which are major diamond producers, have shown an interest in purchasing equity in the company. He did not comment on the current status of the talks or who the parties were. In June, it was reported, citing reliable sources, that Anil 'Agarwal and Indian diamond groups, as well as Qatari investment funds, were among the people who had expressed...

Allegro, a Polish ecommerce company, announced on Wednesday that it has agreed to sell its operations in Slovenia and Croatia?to Mutares of Germany. Allegro is aiming to simplify?its global footprint. Allegro claimed that the sale was the last step to turning around Mall Group. The group bought the company in 2022 as a first move beyond its home market Poland. Allegro expanded its presence in Central Europe with the deal, but so far international operations have weighed on its profitability. Allegro announced in March that it would pause the rollout of its third-party market in other countries until it increased...

The FIM Cisl trade union said that the production of Stellantis vehicles in Italy fell 20% annually in 2025, to 379.706 cars. This is a new concern for the future health of the Italian auto industry. The government of Prime Minister Giorgia Melons said that in 2023, it wanted Stellantis' Italian auto production to reach 1 million units a year. However, the automaker has continued to shrink. FIM Cisl's?Ferdinando Uliano, who presented the union report, said that in 2025 the production of passenger vehicles, excluding light commercial vehicle, will fall by 24.5% on an annual basis to 213,706 cars, the...

Four people who are familiar with the talks say that Germany's Thyssenkrupp may sell its steel division to India Jindal Steel International over a period of time, as they try to reach a deal on the complex business. Jindal Steel began conducting due diligence in October, after making a bid indicative for Europe's largest steelmaker. Thyssenkrupp needs to focus on becoming leaner. The deal will help them achieve this. The people who spoke to us said that Jindal would take a majority share in?TKSE in a first move, most likely 60%. The remaining 40% could be acquired in two 20%...

The gold price fell on Wednesday, as investors booked profits after the prices briefly rose to a?one-week high in earlier trade. A stronger dollar was weighing on sentiment throughout the precious metals sector ahead of important U.S. employment data this week. As of 0330 GMT, spot gold was down 0.7% at $4,466.19 an ounce. Bullion reached a record-high of $4,496.71 on December 26. U.S. gold futures for February delivery fell 0.4% to $4,477.30. GoldSilver Central's managing director,?Brian Lan, said: "Precious Metals have increased (quickly this week) and there is a little profit-taking... The dollar has also pushed prices up." The...

Four people familiar with the discussions said that Germany's Thyssenkrupp might sell its steel division in several stages to India's Jindal Steel International, as both sides attempt to reach a deal for this complex business. Jindal Steel is conducting due diligence on Thyssenkrupp Steel Europe (TKSE) after submitting an indicative bid to acquire Europe's second largest steelmaker. Thyssenkrupp needs to focus on becoming leaner by acquiring the deal. The people who spoke to us said that Jindal would take a majority share in TKSE in a first move, most likely 60%. The remaining 40% could be acquired in two 20%...

Gold extended gains on Tuesday due to the demand for safe-haven assets after 'the U.S. The capture of Venezuelan president fuelled global tensions. Investors awaited U.S. employment data to gain insight into Federal Reserve interest rate policy. By 11:50 am, spot gold had risen 0.9% to $4,488.10 an ounce. After a near 3% increase in the previous session at 1650 GMT, prices are now closer to the record high price of $4,497.11 set on December 24. U.S. Gold Futures for February Delivery advanced by?1% to $4496. Jim Wyckoff is a senior analyst with Kitco Metals. He said that precious metals...

Israeli Foreign Minister Gideon Saar, met with the President of Somaliland Tuesday. This was 10 days after Israel officially recognised the breakaway region of?the Horn of Africa' as a sovereign and independent state. Somalia has protested the move, saying that it is a threat to its sovereignty. A Somaliland source and regional diplomat have said other countries are preparing to follow their lead and'recognise Somaliland. U.S. U.S. Why is the location of Somaliland strategic? Somaliland is located at the intersection of the Indian Ocean, Red Sea and the Arabian Sea. Its Berbera Port provides access to the busiest shipping routes...

The price of copper soared on Tuesday, as concerns about supply fueled a rally in the early part of the year. Nickel also reached a 15-month high above $18,000 per metric ton due to?Indonesia’s mine production curbs. In official open-outcry trading on the?London Metal Exchange, benchmark three-month copper was up 1.8% to $13,225 per ton. It had earlier jumped by as much as a whopping 3.1% to $13,387.50. Red metal prices have already increased by 6.6% since 2026. On Monday, they crossed $13,000, after a 42.2% increase last year. Ewa Mannthey, ING analyst, said that "Copper's?"move above $13,000" is driven...

Gold prices rose again?on Tuesday, reaching a new high. The dovish remarks?of?Federal Reserve officials increased interest rate-cutting bets while Venezuelan tensions also boosted safe-haven demand. As of 0534 GMT spot gold was up 0.5% to $4,469.96 an ounce after a nearly 3% rise in the previous session. Bullion reached a record-high of $4,549.71 in December and recorded its best performance since 1979 with a 64% jump last year. U.S. Gold Futures for February Delivery rose by?0.7%, to $4481.30. The Fed's comments certainly did not hurt, but the calculation doesn't seem to have changed that much. "We have a busy week...

Gold prices rose again?on Tuesday, reaching a new high. The dovish remarks?of?Federal Reserve officials increased interest rate-cutting bets while Venezuelan tensions also boosted safe-haven demand. As of 0328 GMT spot gold was up 0.4% to $4,465.32 an ounce after rising by nearly 3% the previous session. Bullion reached a record-high of $4,549.71 in December and recorded its best performance ever since 1979 with a 64% jump. U.S. Gold Futures for February Delivery edged up 0.3% to $4,465.70 per ounce on Tuesday. "The comments by Fed officials certainly didn't harm but it doesn’t seem like the calculus has changed that much."...

Prices of copper soared to record levels on Monday, as fears about supply?intensified after a strike in a Chilean mining facility and forecasts of deficits?as well as low stocks at London Metal Exchange-approved warehouses. The benchmark copper price on the London Metal Exchange rose 2.7% to $12,811 per metric tonne at 1138 GMT, from an earlier peak of $12,905.5. The metal used for power and construction reached a record price of $12,960 per ton. The theme of shortages was reinforced by traders after a strike took place at Capstone Copper’s Mantoverde gold and copper mine in northern Chile. Mantoverde is...