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Hamilton mourns his beloved bulldog Roscoe before Mexico's Day of the Dead
Lewis Hamilton spoke out about the loss of his pet bulldog Roscoe, on Thursday. He revealed that the grief brought him closer with fans all over the world, particularly ahead of Mexico’s Day of the Dead. Mexican Grand Prix fans, race organizers and Roscoe have all created tributes to the Autodromo Hermanos Rodriguez for the 2nd of November celebration. Hamilton, a seven-time world champion, said: "I felt that I connected with people much more during this type of grief period." "Fans sent me drawings and paintings of Roscoe even though my house is very quiet." The Ferrari driver smiled when he was told the Mexican legend about dogs helping souls to cross the river into the afterlife. He said, "Yeah he will ask me to carry him across the river because he has never liked water." Hamilton spoke about the importance of the support shown during these turbulent times. He said, "It's really encouraging for me to see that in a world where it feels so dark and there are such great divisions, especially when you look at those who run these countries, they seem to lack empathy." Hamilton explained that his love of animals had influenced his decision for a plant-based lifestyle. He also revealed how he defied his family's skepticism regarding getting his own pet due to his busy travel schedule. You learn a lot about empathy. You can't get that kind of love anywhere else. "They bring you such joy, they are the happiest beings on earth," he said. Hamilton still keeps Roscoe’s memory alive in his home, despite the loss. He said, "I have his bed and toys all over the house. So he is still a big part of our furniture." Reporting by Angelica Medina, Mexico City. Editing by Peter Rutherford
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The spot crude premium increases as US sanctions against Russian producers increase demand from China and India
Trade sources and analysts reported that spot premiums on crude markets rose on Thursday, as traders and analysts expected the U.S. sanctions against top Russian producers to spur China and India’s demand for supplies coming from the Middle East and Africa, and South America. Washington imposed sanctions on major oil suppliers Lukoil and Rosneft over the Ukraine conflict, causing concern over a tighter supply from Russia. Russia is the largest supplier of crude oil to China and India. Brent oil futures, the global benchmark for crude oil, rose more than 4% Thursday. Sources said that Indian refiners, as well as some Chinese companies who are among the top buyers of oil in the world, will curtail their Russian oil imports, to comply with new sanctions. They'll turn to alternative suppliers. This triggered a surge in spot premiums Thursday for the key Middle Eastern benchmarks after they had fallen earlier this month due to an abundance of supply, as the Organization of the Petroleum Exporting Countries (OPEC) and its allies were increasing production. Data showed that Cash Dubai's premium reached a high of $2.71 a barrel for the third consecutive session. This is more than twice the $1.26 compared to the previous session. On October 2, it hit a low of 22 months. The data also showed that spot premiums for benchmark grades GME Oman, IFAD Murban, and IFAD Murban, both rose to new one-month highs of $3.12 a barrel and $2.86 a barrel, respectively. Two sources who have direct knowledge of this matter confirmed on Thursday that Reliance Industries, a privately-owned company, will cease importing crude oil as part of a long-term agreement to purchase nearly 500,000 barrels of crude oil per day from Rosneft. Sources with direct knowledge said that Indian state refiners, including Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp., are also reviewing their Russian trade documents in order to ensure that no oil will come directly from Rosneft or Lukoil following the U.S. sanctions against the oil companies. Reliance purchased crude oil cargoes in recent days from Brazil and Middle East. These included Qatari al-Shaheen, Land grades and Iraqi Basra Medium. The cargoes could be used as a partial replacement for Russian supplies. Reliance was seen Thursday in the market scouting out supplies, according to a Middle Eastern merchant approached by Reliance. We expect that most of the substitute crudes will come from the Middle East. Richard Jones, an Energy Aspects crude analyst, said that the urgent need for sour-barrels will allow the current Basra surplus to be cleared faster than previously expected. The Brent-Dubai swap has fallen further into negative territory as a result of today's rally, which supports Atlantic basin arbs. Brent's premium to Dubai quotes LSEG data show that the price of a barrel was 1 cent on Thursday. It had been negative since this week's start. Brent-linked grades of oil from the Atlantic Basin are more attractive to buyers in Asia as the price difference narrows. Last week, Britain also sanctioned Rosneft (Russian oil company) and Lukoil (Russian oil company). Reporting by Florence Tan in Singapore and Siyi Luu in New Delhi, with additional reporting by Nidhi verma; editing by Harikrishnan Nair
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Nikkei's Nikkei-listed Fujikura, a century-old Japanese company, rides the AI data centres boom to become a Nikkei standout
Fujikura, a Japanese wire manufacturer that has been in business for over a century, is a notable stock in the Nikkei gauge. This is because investors expect the company to benefit from an increase in investment in artificial-intelligence data centres using its optical fibers. This week, the firm gained another 6% in value after Sanae Taichi was elected Prime Minister following her pledges to invest heavily in AI and key industries. Fujikura shares have risen 160% since the beginning of 2025. This is a far greater increase than the Nikkei, which has only risen 22%. The company's $33 billion market value is now comparable to that of other well-known Japanese companies such as Daikin, which makes air conditioners, and Komatsu, which manufactures construction equipment. The fortunes of "Magnificent 7" U.S. tech companies, such as Nvidia and Amazon, at the forefront in AI development, are increasingly linked to global equity markets. This euphoria in Japan has spread to the major AI suppliers and investors, including Advantest Tokyo Electron, and SoftBank Group. These firms are responsible for the majority of Nikkei gains since early September. Fujikura was founded in Japan during the Meiji Era (1885-1912) of modernisation. Investors have been searching the AI supply chain for the next winners. Kazuaki Shimada is the chief strategist of IwaiCosmo Securities. "Generative AI has become a major theme for the Japanese stock market," he said. Investors are now looking at new targets which could be the next Fujikura. Mitsui Kinzoku is another AI-related company that has soared 192% in 2025. JX Advanced Metals, another supplier, has seen its stock rise fourfold since March's market debut. Fujikura began as a manufacturer of silk and insulated cables, but in 1959 it produced the first optical fiber. These fibres are essential for AI data centres. About 75% of Fujikura's production is sold to foreign customers such as Alphabet, the owner of Google. Fujikura's spokesperson confirmed that the company had increased its fibre production capacity at its existing facility by a third in February and announced in August that it would invest 45 billion yen (US$298.45 Million) in order to build a second factory. ($1 = 150.7800 yen)
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Oil prices drop after surge but remain on course for weekly gains amid supply concerns
U.S. Crude Futures slowed in early trading on Friday. They trimmed part of the previous days' surge, but remained on track to achieve a weekly gain. This was due to supply concerns fueled by new U.S. Sanctions on Russia's largest oil companies for the conflict in Ukraine. Brent crude futures were down 17 cents or 0.3% to $65.82 at 0024 GMT. U.S. West Texas Intermediate Crude Futures rose 17 cents or 0.3% to $61.62. Both benchmarks rose more than 5% Thursday, and are set to gain about 7% a week. This is the largest weekly increase since mid-June. Russian President Vladimir Putin was defiant Thursday, after U.S. president Donald Trump imposed sanctions on Russia's Rosneft & Lukoil to press the Kremlin to end the Ukraine war. Rosneft, Lukoil and their combined output account for over 5% of the global oil production. Trade sources said that the U.S. sanctioned prompted Chinese oil companies to temporarily suspend their purchases of Russian oil. According to sources in the industry, refiners in India, which is the biggest buyer of Russian oil by sea, will drastically cut their crude imports. Satoru Yoshida is a commodity analyst at Rakuten Securities. He said that the buying prompted by concerns about supply due to U.S. Sanctions on Russia, has subsided. He said that a one-sided rise is unlikely because OPEC has spare capacity. He predicted that WTI will trade between $65.95 and $70.00. Kuwait's oil ministry said the Organization of the Petroleum Exporting Countries (OPEC) would be prepared to counter any shortage on the market by rolling out production cuts. The U.S. announced that it is prepared to take additional action. Putin, on the other hand, referred to the sanctions as unfriendly and said they wouldn't have a significant impact on the Russian economy. He also emphasized the importance of Russia to the global marketplace. The European Union also approved the 19th package on sanctions against Moscow, which included a ban on Russian gas liquefied imports. Last week, Britain imposed sanctions on Rosneft & Lukoil. According to U.S. Energy data, Russia will be the second largest crude oil producer on the planet in 2024. Investors also focus on a meeting between Trump's and Xi Jinping's scheduled for next week. The trade tensions between Washington, DC and Beijing are escalating. Both sides have announced retaliatory actions. The confirmation that the two leaders will meet next week seemed to have eased tensions. (Reporting and editing by Stephen Coates; Yuka Obayashi)
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Mount Gibson, Australia, slashes its annual sales forecast after rockfall shuts down the Koolan Island Mine
Mount Gibson Iron retracted its fiscal 2026 guidance on Friday, after determining that it was not viable to resume its mining operations at Koolan Island in Western Australia following a large rockfall earlier in the month. Iron ore miner estimated sales between 3 and 3.2 million wet-metric tons (WMT), at A$80 - A$85 FOB for each WMT shipped. The firm's shares fell by 27.7%, to A$0.34, and are set for the weakest trading session they have experienced since December 2014. Stocks fell to their lowest level since July. The company stated that it has decided not to remediate the affected pit area because of safety risks, the possibility of further instability, and the mine's remaining limited life. Since the rockfall on October 16, mining has been suspended, but no one was injured. The company stated that "resuming mining was not feasible due to the safety risks associated with potential future instability, and the time and investments required to mitigate these risks in light of the limited remaining life of the mine." The processing will continue with existing ore stocks, and 75 employees will be retained on site for rehabilitation work. The transition costs are estimated to be between A$30 and A$40 Million ($19.49 to $25.99 millions). The incident will not affect the company's plan to purchase a 50% stake in Central Tanami Gold Project before March 2026. Some Koolan Island staff and equipment will be relocated there. ($1 = 1.5389 Australian dollars) (Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Alan Barona)
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Sunrise Energy, Australia, signs five-year option on scandium with Lockheed Martin; shares jump
Sunrise Energy Metals, an Australian company, announced on Friday that it had granted Lockheed Martin the option to buy up to 15 tons of scandium oxide over a five-year period from its Syerston Scandium Project. Sunrise shares were up 15.6% at A$5.49 as of 2333 GMT. This is their best trading session since the beginning of October. The agreement stipulates that the Australian diversified mining company will only be able to exercise the option if both parties have signed binding agreements for the offtake of their project. NioCorp, a rare earths mining company, had earlier announced that it was working with Lockheed on a scandium-alluminum alloy to be used in military equipment. The program is funded by the Pentagon. Scandium has been widely used in defence, aerospace, and energy applications. However, the majority of its supply comes from China. The U.S. stopped mining scandium in 1969. Robert Friedland is the co-chairman of Sunrise Energy Metals. He said, "We're pleased to work with Lockheed Martin on such an important initiative. It underscores the importance the U.S. - Australia critical minerals pact signed by Prime Minister Albanese and President Trump at the White House just a few short days ago." Sunrise said in a statement that testing and qualification will be undertaken to speed up the adoption of components containing scandium in Lockheed Martin products. (Reporting by Shivangi Lahiri in Bengaluru; Editing by Alan Barona)
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Pilbara Minerals' first-quarter production increases on the back of improved plant performance
Pilbara Minerals, based in Australia, reported a 2.1% increase in spodumene concentration for the first three months of this year on Friday. This was due to stable production from its Pilgangoora operation in Western Australia. In the three-month period ended September 30, the pure-play miner of lithium produced 224.8 thousand tons (kt) spodumene, which is used to produce lithium. This was higher than the 220.1 kg it recorded during the same time last year. According to the firm's statement, unit operating costs for free-onboard have decreased by 10.9% and are now A$540 per ton. This reflects "continued operational efficiencies" and "implemented cost reductions". The report added that "while the quarter ended September delivered strong cost performance," unit costs will continue to rise over the rest of the year because of seasonal operational challenges, typically associated with wet seasons. Pilbara Minerals has reported revenue of A$251 ($163.10 millions) for the third quarter. This compares to A$210 in the same period last year. The lithium miner's shares rose 6.4% in the early trading to A$3,15, their highest level since November 18. ($1 = 1.5389 Australian dollars) (Reporting by Shivangi Lahiri in Bengaluru; Editing by Maju Samuel)
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Japan Nuclear Sector seeks more support for new reactor construction, says lobby leader
A lobby leader said that the nuclear industry in Japan wants more support for building new reactors under the newly elected pronuclear prime minister Sanae Takaichi. This includes state-run auctions of capacity, according to a Thursday statement. Only 14 of the 54 reactors that operated in Japan prior to the Fukushima nuclear disaster in 2011 have been brought online. Takaichi said reviving the nuclear power was key to Japan's security. Japan has focused on restarting reactors that have been shut down - the government extended the operating life from 40 to 60 year - and only one new plant is currently in the planning stages. Hideki Masui said that the long-term capacity auction (LTDA), which is a scheme for developing new power generation, should provide more support to build new reactors. This process takes about two decades in Japan. Masui said, "We should add a scheme to the LTDA that allows some sort of fund recovery during construction even from an early stage." Masui stated that there are no safety regulations in place for the next-generation reactors. Operators are also seeking "financial support" and predictability from regulators. Kansai, Japan's largest nuclear power company, announced in July that it was conducting surveys for a new reactor to be built in western Japan. This is the first concrete step since Fukushima towards building a nuclear reactor. Data centres are reversing a trend of years of declining power demand. By 2040, Japan wants nuclear power to account for 20% of the electricity mix, up from 10% today. Masui stated that the authorities have granted initial restart permits to four more idled reactors. Eight others are currently undergoing safety tests and another 10 could request restarts. Masui stated, "Theoretically I believe Japan can reach its nuclear goal by 2040 with over 30 reactors running." (Reporting and editing by Tony Munroe and William Maclean.)
Orion to invest $1.8 Billion with US and Abu Dhabi governments in critical minerals
The U.S. government and Abu Dhabi will invest $1.8billion in mining and refining project across the globe, with Orion Resource Partners. This investment is to improve Western access to rare earths, lithium and other essential minerals. The plan was announced on Thursday as China, the world's largest mineral producer, is limiting access to essential minerals, even though demand has risen across the globe. This forces manufacturers to compete for new supplies.
The U.S. International Development Finance Corp. (DFC), controlled by Washington and Orion, as well as the Abu Dhabi sovereign fund ADQ have each contributed $600 million to the newly-formed Orion Critical Mineral Consortium.
The consortium hopes to reach $5 billion in funding from other countries around the world. It aims to get minerals to market quickly and avoids exploration projects.
Frank Fannon, managing partner of the consortium and former U.S. Assistant Secretary of State for Energy Resources during President Donald Trump’s first term, said: "We're focused on projects that are currently in production or could be put into production very soon to bring material back to the U.S.
Fannon stated that Orion will seek out other potential investors who have a "shared understanding and shared value" about the need to increase Western access to essential minerals.
Orion announced its announcement two days after Appian Capital Advisor and the International Finance Corporation.
Launch of their own $1 Billion Fund
Invest in mineral projects in Africa and Latin America
Fannon stated that Orion intends to "go where rocks are" by investing in mines around the world as well as processing facilities required to turn metals into building blocks for batteries, other equipment and other devices.
Oskar Lewnowski is the founder and CEO of Orion. He said, "We are committed to funding supply chains to the extent needed to ensure end-stage products for our customers and consumers."
Both executives stated that Orion would focus its investment on copper and uranium as well as minerals deemed critical by the U.S.A., Canada, Europe and Australia.
The DFC also owns a stake in a mining company
TechMet
The executives stated that the government will be involved with investment decisions. This involvement is expected to reduce geopolitical risks associated with any project.
Lewnowski stated that "the (U.S. government) certainly brings a great deal to bear, especially in emerging market situations, and this makes investments much more tenable" for us.
Orion's interest in the topic was a no-brainer.
Ukraine's mining industry
Lewnowski stated: "Ukraine is home to some interesting rocks." Let's just leave it there.
The Trump administration has
taken equity stakes
Washington is increasingly willing to get involved in the mining industry directly.
The U.S. government has also increased lobbying efforts by critical mineral companies, in an effort to gain a share of the investments Trump has promised to firms that are deemed vital to national security. (Reporting from Ernest Scheyder, Houston; additional reporting from Brijesh Pate in Bengaluru; editing by Stephen Coates).
(source: Reuters)