Latest News
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Denmark compensates Greenlandic women who have undergone involuntary contraception
The Danish government announced on Wednesday that it had reached a deal in parliament for compensation to be paid to Greenlandic women who suffered from a decades-long, involuntary campaign of birth control. This is just one of many cases that have emerged in recent years regarding allegations of Danish authorities' misconduct against Greenland residents, now a Danish semi-autonomous territory. In 2022, records revealed that thousands of women as young as 13 years old were fitted with intrauterine device without their consent or knowledge between 1966 and 1991 when Greenland gained control over its healthcare system. Aaja Chemnitz said, "Now women get the compensation we've been fighting for since many years," in an Instagram post. In a press release, the Health Ministry said that under the agreement, eligible women would receive 300.000 Danish crowns (46,750 dollars) through a reconciliation account. Women who are eligible must have attended school or lived in Greenland during that period. They will also have to provide proof of their claims. "We cannot change the past. We have been 'blind to injustices committed against them for too long. Mette Frederiksen, Prime Minister of Denmark, said in an official statement that we could 'take responsibility. Frederiksen apologized in person, to some women who had been victims. The move was part of Denmark's increased?efforts? to repair its ties with Greenland after U.S. president Donald Trump announced his intention to seize control of the vast and resource-rich Arctic Island for security purposes. The ministry stated that applications will open in April of 2026. Approximately 4,500 women are eligible to apply. First payments should be expected in the fall of 2026.
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Silver drifts close to record high as gold slips before Fed rate decision
Gold prices declined on Wednesday, as investors booked profits in anticipation of the U.S. Silver hovered just below records highs as investors booked profits ahead of the?Federal Reserve interest rate decision today and Chairman Jerome Powell's remarks. At 0948 am, spot gold was down by 0.3% to $4,198.28 an ounce. ET (14:48 GMT). U.S. gold for delivery in February fell 0.2% to $4,227.40 an ounce. Silver spot fell by 0.2%, to $60.56/oz. After hitting a session high of $61.61 an ounce earlier. "All you want to note right now is some light profit taking ahead of the Fed Meeting- a highly anticipated event this afternoon," David?Meger said, director of metals trade at High Ridge Futures. The Federal Open Market Committee will announce their rate decision at 2 p.m. ET (1900 GMT), Powell is scheduled to speak at 2:45 p.m. ET (1930 GMT). According to CME's FedWatch Tool traders are pricing in an 89.6% probability of a 25-basis-point rate cut this week, and they expect more easing in the year 2026. Meger said: "We may be on a course of rate cuts and pause... but we still think we're in an uptrend sideways to higher, with a slight pause." The meeting will be one of the most controversial in recent years as policymakers balance the need to lower?borrowing rates' to support the labor markets against the danger of reigniting the inflation. The lack of new economic data after the 43-day shutdown and the uncertainty about who will be the Fed's leader next year adds to the problem. White House economic adviser Kevin Hassett is considered the frontrunner. Hassett has been a supporter of rate reductions. Silver has risen 110% this year so far, mainly due to the rising industrial demand and falling inventories. It was also designated as a "critical mineral" by the U.S. Meger stated that "we believe the gold/silver ratio is returning to a historical norm, at this time." Now, it takes 69 ounces to purchase an ounce gold The number of ounces has dropped from 82 in October. Palladium dropped 2.7%, to $1466.21, while platinum fell 2.8%, to $1642.30. (Reporting by Sarah Qureshi and Anushree Mukherjee in Bengaluru; Editing by Shailesh Kuber)
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USA Rare Earth accelerates Texas project with a 2028 start date
USA Rare Earth announced on Wednesday that it would bring the?commercial production? at its rare-earths project?in Texas forward to late 2028 from 2030. It cited faster-than expected progress at its processing facility and increasing U.S. demands for critical minerals. Round Top in Texas is the largest known U.S. source for heavy rare earth elements, gallium, and beryllium. The Round Top deposit is owned by USA Rare Earth and?is being developed. The revised timeline is coming as the?U.S. Under the Trump Administration, companies are increasing their efforts to reduce reliance on China as a source of rare metals. The company has developed a comprehensive mine to magnet supply chain that spans Texas, Colorado, and Oklahoma. It is positioning itself as one of the few U.S. manufacturers of heavy rare Earths, such as terbium and dysprosium. These elements are essential for high-performance permanent?magnets, which power electric vehicles, defense systems and industrial machines. This decision was made after a successful pilot of solvent extraction at the processing lab in Wheat Ridge, Colorado. The site will be home to a hydrometallurgical plant that is expected to begin operations in early 2026. (Reporting by Dharna Bafna in Bengaluru; Editing by Tasim Zahid)
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Silver extends its rally above $60; gold dips ahead Fed rate decision
Investors awaited hints on the future policy of?the U.S. Federal Reserve, and a possible interest rate cut. Meanwhile, gold prices were lowered on Wednesday. Silver continued its rally to new heights. At 1243 GMT, spot gold had fallen 0.3% to $4197.91 an ounce. U.S. Gold Futures for February Delivery fell 0.2% to $4,226.40 an ounce. Spot silver, meanwhile, rose 0.6%, to $61/oz, after reaching an all-time record of $61.61 in the previous session. This was due to rising industrial demand, falling inventories, as well as its designation by the United States as a "critical mineral". The white metal is up 112% this year. Silver broke through the $60 mark per ounce, luring in more trend-followers and short-term traders. Carsten Menke, an analyst at Julius Baer, said that this also reflects a narrative of physical tightness in the silver market. Fed Chair Jerome Powell will speak at 1930 GMT. The Federal Open Market Committee is expected to announce their rate decision at 1900 GMT. The markets are assigning an 88% chance of a 25 basis-point reduction. Nitesh Sha, commodities strategist at WisdomTree said that gold was currently trading in a range until the FOMC announced its decision. "What will move gold? Not necessarily the cut itself, but rather the guidance for future," he added. Benchmark yields on 10-year U.S. Treasury bonds have reached their highest level in more than three months. "In the last few weeks, gold demand from investors as measured by holdings in physical-backed products has been less than silver." Menke stated that this is the primary factor holding gold back. Carolane de Palmas, an analyst at ActivTrades, said that "gold's performance is one of the main drivers?of the silver price -- any correction in gold can lead to increased volatility in silver." Kevin Hassett, White House economist and the leading candidate to succeed Powell as Fed chair, stated on Tuesday that there is "plenty" of room to reduce interest rates, although rising inflation may change this calculation. Gold and other non-yielding assets tend to be favored by lower rates. RBC Capital Markets increased its long-term forecasts for gold prices to an average $4,600 per one ounce by 2026, and $5,100 in 2027. They cited geopolitical risk, a softer monetary policies, and persistent deficits. Palladium dropped 1.3%, to $1,487.11, while platinum fell 1.7%, to $1661.70. Reporting by Pablo Sinha from Bengaluru. Alexandra Hudson (Editor), Mark Potter, Varun H. K.
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Indigenous Guards in the Amazon region unite to protect their territories
Around 200 Indigenous members from Ecuador, Colombia and Peru met in the?Amazonian village of Sinangoe located along the border of Colombia to strategize together how to defend their ancestral land. To mark the occasion, they cleansed their energy with tobacco and nettle leaf and drank sap of the ancestral yoco tree. Indigenous communities of the Amazon rainforest train men and women for years to recognize threats to their mineral rich and verdant lands, and to prevent outsiders from entering their communities. Members of the Indigenous Guard say that in recent years, threats to their ancestral Indigenous territories have increased the need for self-defense groups known as the Indigenous?Guard. They are facing illegal mining, logging, drug trafficking and armed groups as well as forced gang recruitment, extortion and forced recruitment. Since 2017, the Indigenous Guard of the A'i Cofan Community in?Sinangoe has been battling large-scale mining to protect the Aguarico River – the main source of food for families who live on the riverbanks. Holger Quenama is the coordinator of A'i Cofan's Indigenous Guard. The group's pacifist focus is on monitoring, patrolling and avoiding conflict. They may also request assistance from armed forces in situations that they are unable to handle themselves. Quenama stated that their work had paid off, but they still need to put in daily effort. Quenama stated that "the Sinangoe guard is always carrying?our staff which is our strength." "We work with the whole community, but there are Indigenous groups who are more vigilant in patrolling all of the territory," Quenama said. Kelly Valera Silva said that the Regional Organizaion of Indigenous guards of Shipibo Konibo in Peru has had success in combating illegal fishing and territorial invasions. She said that although indigenous peoples were not opposed to?concession deals, they must acknowledge their territory. About 300 indigenous guards are spread out across 24 Amazonian Shipibo Konibo communities in Peru. Reporting by Karen Toro, Sinangoe. Writing by Alexandra Valencia. Editing by Lincoln Feast.
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GE Vernova gains on bullish revenue forecasts for 2026 and buyback boost
Shares of GE Vernova jumped 10% in premarket trade on?Wednesday, after the power equipment manufacturer forecast higher revenues for?2026. It also increased its share purchase plans by $4 billion. The company's grid business and its gas turbine business are experiencing strong growth, thanks to the increasing?electricity?use of artificial intelligence and data-heavy industries. This is positioning the U.S. manufacturer for long-term expansion. Vernova's stock has increased by more than 370% in the three years since it was spun off from General Electric. Stocks rose by 10% before the bell - to $688. If gains are maintained, they will open at a record high. The company increased its share repurchase authority to $10 billion, up from $6 billion. It also doubled the quarterly dividend per share to 50 cents. GE Vernova anticipates that the annualized production of?gas-turbines will reach 20 gigawatts by mid-2026 and 24?GW around 2028. Jed Dorsheimer, an analyst at William Blair, said that the increase in deliveries was expected as key competitors Siemens Energy and Mitsubishi Heavy Industries raised their own targets. He said that the company's Investor Day "fired at all cylinders." He noted that the company's available slots for production of turbines were sold out through 2028. In 2026, the company anticipates a 16% to 18% growth in organic revenue in its power segment and a 20% increase in electrification. The company expects a free cash flow of $4.5 to $5.0 billion in 2019, compared to the $3.5 to $400 billion they anticipate for 2025. GE 'Vernova' expects to sign 80 GW combined-cycle gas-turbine?contracts before the end of the year, it stated in a separate filing. The company also works with the U.S. The company is also working with the?U.S. government to increase yttrium stocks as China's import controls tighten supply of rare earths used in energy applications, aerospace, and semiconductor applications. CEO Scott Strazik stated.
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Ghana's economy is expected to grow by 5.5% in the third quarter of 2025
The Ghanaian economy grew by 5.5% a year on an annual basis?in 2025's third quarter, according to the Statistics Agency. This was mainly due to?improvements in the agriculture and services sectors, it said. Alhassan Iddrisu, a government statistician, told reporters that growth was down from 7.0%, which had been revised, in the same time period of last year. The industrial sector, however, only grew by 0.8%. Iddrisu stated that fishing?and crop production boosted the growth of the agricultural sector to 8.6%. He added that the services sector, which includes finance, insurance and trade, as well as education, grew by 7.6%. Iddrisu stated that "Agriculture’s contribution to growth was outsized. It shows a sector which is recovering rapidly and adding weight to national output." The real GDP of non-oil countries grew 6.8%, compared with 7.8% one year earlier. The country that produces gold, oil, and cocoa is emerging from the most severe economic crisis it has experienced in decades. Its annual inflation rate fell for the 11th month in a row to 6.3% November is a month of celebrations. It is at its lowest level since 2021, when a rebasing was conducted. As a result of falling inflation in Ghana, the central bank has cut its interest rate this year by 1,000 basis points. They cited an improved economy outlook and expected further inflation declines. Reporting by Christian Akorlie, Emmanuel Bruce and Ayen Deng BIOR Writing by Peter Graff
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Ross Kerber: Maybe Trump and Republicans have stopped being mad about index funds.
By Ross Kerber Dec. 10 - Financial leaders and corporate leaders will soon learn if U.S. president Donald Trump is going to continue his Republican crusade aimed at giant index funds. Washington trade groups expected last month that the White House would issue an executive directive to reshape corporate governance by imposing new limitations on proxy advisers, and big passive index funds. Republicans claim that the "Big Three", passive firms, including?BlackRock?,?Vanguard? and State Street? "use shareholder voting to advance a political agenda" according to the 2022 staff report of the Senate Banking Committee?s Republican staff. Since 2022, the votes of fund companies have changed to be more in favor of management. The question is now whether or not the Republican complaints about index funds are still valid. A White House official who spoke on condition of anonymity on Tuesday said that, "Until the WH officially announces any potential executive orders, all discussion is purely speculative." Corporate governance experts are left to interpret the situation in tea leaves. Jessica Wirth Strine is a managing director at shareholder advisory firm Jasper Street. She said that despite the rumors most people do not believe anything'really dramatic' will happen with an EO in terms of index fund voting. Others agree that reducing index funds' influence would empower traditional, environmental and social shareholder activists. She said: "We all know that it would be a strange thing to do to deprive the largest and most corporate-friendly shareholders of their governance rights." The Big Three are the new kingmakers. By offering low fees and attracting a combined total of $31 trillion in assets under management, they have become kingmakers during annual shareholder meetings. The Big Three are the largest investors in most S&P 500 firms and have a significant influence on questions such as which directors should be elected or how a firm reports its 'carbon emissions. Around 2020, big funds will support more shareholder resolutions that are socially and environmentally focused. This is a response to the Black Lives Matter Movement and efforts to reduce climate change. The Republican Senators, led by Dan Sullivan from Alaska, who claimed that the 'Big Three' were reducing energy investments, including those in indigenous communities, introduced the INDEX Act in response. This would allow funds to pass on voting preferences to clients. The bill failed to pass, but it has been reintroduced. On Tuesday, Sullivan posted on Facebook, "I commend Trump's administration for looking again at policies like the INDEX Act, which I have previously introduced, in order to fix this massive distortion of the market." As skeptics grew in their attacks on environmental and social causes the votes of the Big Three dropped sharply between 2022 and this year, putting many resolutions at risk. Vanguard for example, did not support any such resolutions in the past year, while BlackRock supported only 2%. According to the fund firms, they responded based upon the merits of new propositions after many companies had made changes. The fund firms have also introduced "pass-through vote" programs, as Sullivan wants. However, these are still limited due to technical reasons. Boardroom Allies The Big Three have also emerged as allies of CEOs who are facing activist funds that want to replace directors in highly-publicized proxy contests. Take a look at?one the most important boardroom battles of this year. It was Phillips 66's in May. After a bitter election campaign, the company and activist Elliott Investment Management won each two seats. Elliott was pushing for asset sales while management stuck to its strategy. The Big Three accounted for about a third all votes cast. Disclosures reveal that they backed each of the four Phillips 66 Candidates. The activist candidates would all have won without the Big Three. James?Copland is a senior fellow with the Manhattan Institute, a conservative think tank. He has proposed an executive order that would require passive funds "mirror voting" the votes cast by active investors. This would reduce the influence of The Big Three. Copland, despite their recent pro management stances said that he still hopes new restrictions will be placed on index fund voting. He said that nothing prevents them from changing their vote once the political winds change. State?Street refused to comment. Vanguard's spokesman pointed to a letter sent to banking regulators by the Pennsylvania fund company last year, in which it advocated for one standard of "passivity" among index funds. The spokesman said that Vanguard plans to expand its Investor Choice Voting program. BlackRock declined to comment on the remarks made by CEO Larry Fink at a New York Times DealBook Conference last week. Fink said that limiting the voting of his funds would empower other investors. Fink stated that "almost every CEO who approaches BlackRock about this issue is afraid of the outcome."
Silver drifts close to record high as gold slips before Fed rate decision
As investors booked profits in anticipation of the upcoming?U.S. Silver is hovering below record levels as investors await the Federal Reserve's rate decision and Jerome Powell’s remarks.
At 11:40 am, spot gold was down by 0.2% to $4,201.45 an ounce. ET (16:40 GMT). U.S. gold for delivery in February fell by 0.1%, to $4,230.50 an ounce. Spot silver increased 0.3% to 60.82/oz after reaching an all-time high earlier in the day of $61.61.
"All you want to note right now is some light profit taking ahead of the Fed Meeting- a highly anticipated event this afternoon," David?Meger said, director of metals trade at High Ridge Futures.
The Federal Open Market Committee will announce their rate decision at 2 p.m. ET (1900 GMT), Powell is scheduled to speak at 2:45 p.m. ET (1930 GMT).
According to CME's FedWatch Tool traders are pricing in an 89.6% probability of a 25-basis-point rate cut this week, and they expect more easing in the year 2026.
Meger said: "We may be on a course of rate cuts and pause... but we still think we're in an uptrend sideways to higher, with a slight pause."
The meeting will be one of the most controversial in recent years as policymakers balance the need to lower?borrowing rates' to support the labor markets against the danger of reigniting the inflation.
The lack of new economic data after the 43-day shutdown and the uncertainty about who will be the Fed's leader next year adds to the problem. White House economic adviser Kevin Hassett is a leading candidate for the position. Hassett has been a supporter of rate reductions.
Silver has risen by 110.5% this year so far, mainly due to the rising industrial demand and falling inventories. It was also designated as a "critical mineral" by the U.S.
Meger stated that "we believe the gold/silver ratio is returning to some historical norm now."
Now, it takes 69 ounces to purchase an ounce gold
Palladium dropped by 3.8%, to $1449.25, and platinum fell 3.5%, to $1631.77. (Reporting by Sarah Qureshi and Anushree Mukherjee in Bengaluru; Editing by Shailesh Kuber)
(source: Reuters)