North America

The Russian Victory Day Parade will be the smallest in recent years due to the threat of an attack by Ukraine. Moscow's forces have been unable to win the war, which has been the deadliest European conflict for more than four years. The parade on Red Square, which takes place May 9, is Russia's most revered national holiday. It's an opportunity to commemorate the Soviet Union's triumph over Nazi Germany, and pay tribute to the 27,000,000 Soviet citizens who died, many of whom were Ukrainians. The parade, which was once used to display Russia's military might, including its intercontinental missiles...

Marco Rubio, Secretary of State on Friday, said that the United States could have a productive relationship with the Catholic Church despite tensions over President Donald Trump's repeated criticisms of Pope Leo. Rubio visited the Vatican Thursday and told reporters that the meeting had been "very positive" before departing Rome. Rubio, when asked about Trump's criticism of Leo for his comments about the Iran War and other issues, said that Trump acts to the benefit of the U.S. Rubio said that Trump acts in the best interest?of the U.S. and "will always speak clearly about how he feels about the?U.S....

Russia and Ukraine both accused each other of a violation of a ceasefire that was announced by Moscow to cover the celebrations marking the Soviet Union's triumph over Nazi Germany. Sergei Sobyanin, the Moscow mayor, said that the city had been targeted. Officials also said that the Urals region of Perm was attacked by drones. Russia has announced a ceasefire from May 8 to 10, when they celebrate the Soviet Union's triumph over Nazi Germany. They will also hold a military parade in Moscow. Russia warned that any attempt to disrupt the celebrations by Ukraine would result in a massive'missile...

The price of oil rose by more than 1% after renewed fighting between the U.S.A. and Iran. This triggered a fragile ceasefire, and dashed hopes that the Strait of Hormuz would be reopened, an important transit route for oil and gas. Brent crude futures rose $1.41 or 1.41% to $101.47 per barrel at 0123 GMT. West Texas Intermediate (WTI), U.S. crude oil futures, rose $1.12 or 1.18% to $95.93 per barrel. Prices had already risen more than 3% at the opening of the market. This ended three days of declines following reports that earlier in the week,?the U.S. was close...

Fatih Bibil, the head of the International Energy Agency said that the 'war' in Iran continues to drain'millions' of barrels of 'oil every day. Brent oil futures fluctuated between $96 and $102 per barrel on Thursday, following mixed reports of an interim deal to end the war and possibly reopen Strait of Hormuz. This key trade chokepoint has been closed since the conflict began at the end of Feb. Birol warned that such volatility is likely to continue, and that the supply would return gradually once the war ended. He said that oil security would still be a major issue....

Semafor reported that the Trump administration has invited CEOs of Nvidia, Apple, Exxon, Boeing, and other large 'companies' to join him on his trip to China next week. According to the report, executives from Qualcomm, Blackstone Citigroup and Visa were also present. Citigroup, Visa, Nvidia and Apple did not respond immediately to a request for comment. Qualcomm confirmed the invitation, but declined to provide any further comment. Blackstone and Boeing declined comment. As Donald Trump prepares to visit 'Beijing' next week for a meeting with China's leader Xi Jinping, the media is buzzing about possible deals. Boeing CEO Kelly Ortberg...

Treasury Department: The United States sanctioned?Iraq’s deputy 'oil minister? and militias on Thursday for their support of Iran. The Treasury Department accused Iraqi deputy minister Ali Maarij Al-Bahadly, of abusing his "position to facilitate the diversion" of oil for sale to the Iranian regime and their proxy militias in Iraq. The deputy oil minister and the Iraqi oil ministry did not respond to requests for comment. Hayan Abdel Ghani, Iraq's Oil Minister in March, said that Iranian oil tankers stopped by U.S. Forces in the Gulf used forged Iraqi papers. ?Tehran denied using such documents. The United States and Iran...

Serbia won't allow a newly formed 'local company' to buy a majority stake in its Russian owned NIS oil firm, said President Aleksandar Vucic on Thursday. KFT Senator Treasury G.T.7 Two LLC, run by Ranko Mimovic and founded in August last year, said Wednesday it had offered to buy a 51.16 percent stake?in NIS for 2.35 billion euros. The bid would be a challenge for Hungary's MOL, which is negotiating to buy a majority stake of NIS. This purchase is a condition that the United States must meet before lifting sanctions against the company operating Serbia's only oil refinery. Vucic,...

Solvay, a Belgian chemicals company, said it would pass on higher energy and transportation costs to its customers in response to the Iran War. Solvay says it will assess how the temporary closure of its Saudi Arabian-based joint venture peroxides would affect its business during the second quarter. It adds that the overall impact is limited. Vara Research had predicted a core profit of 220 millions euros, but the comments accompanying them showed that it fell to 219 million euros (257.37 dollars), a 12.4% decline. Solvay's Middle East sales are less than 5%, but since mid-March, production has been stopped...

The main stock index of Canada edged up on Wednesday as mining stocks gained in value. Investors were encouraged by reports that the United States and Iran are close to an agreement over a one-page document ending their war. At 10:38 am. The S&P/TSX Composite Index of the Toronto Stock Exchange was up 1.3% to 34,005.40 at 10:38 a.m. ET. According to an Iranian Foreign Ministry spokesperson, quoted by Iran's ISNA News Agency, the country will soon communicate its response via Pakistan, the country that has been the main channel for messages between both sides since?hosting the only peace talks....

Canadian retailer Loblaw missed Wall Street expectations for the first quarter revenue on Wednesday, as consumers become more cautious in their spending amid rising macroeconomic uncertainty. Lower-income Canadians are cutting back on non essential spending due to a squeeze on their household budgets caused by?higher prices for groceries, higher crude oil prices from Iran's war, and increased inflation. Retailers in North America are feeling the pinch. U.S. supermarket Albertsons forecasted soft sales last month, and Canadian discount retailer Dollarama projected a year-end?sales that were largely below expectations. Loblaw continues to expect that its adjusted net income will grow in the...

Pirelli announced on Wednesday that it would begin producing Cyber Tyres for the United States after Italy curbed its influence with Sinochem, the Chinese investor of the premium tyre manufacturer, in an effort to aid the company's expansion across the Atlantic. Italy's government resolved a dispute last month over Sinochem’s stake in Pirelli by using "golden powers". Sinochem, Pirelli's largest shareholder with a stake of 34.1%, was the cause of the dispute. Sinochem fears that Pirelli may fall foul of U.S. regulations restricting use of Chinese technology within?the automotive sector. Pirelli announced that it would manufacture its connected Cyber Tyre...

Acerinox's CEO on Friday left a 'door open' for a potential?New York IPO of its U.S. operations, which make up?the majority of the Spanish steelmaker’s earnings. Acerinox, in a Bloomberg News interview last year, floated the idea of listing its U.S. businesses locally after Haynes International is integrated. The acquisition was completed in late 2024. "We can't not consider it," CEO ?Bernardo Velazquez told . "While U.S. valuations and U.S. liquidities remain far higher than those in Spain I believe that we are obliged?to explore all?possibilities." Acerinox will maintain its majority stake in the U.S. company if it proceeds with...

Analysts and traders say that the volume of refined copper imported into the United States this year is unlikely to exceed the record shipment in 2025 due to the already swollen stockpiles, as well as the spike in logistics fees, resulting from the Iran War. Copper prices on COMEX have again risen above the global benchmark of the London Metal Exchange, prompting renewed flows to the U.S. while the market awaits news if U.S. president Donald Trump will impose import tariffs. Last year, the U.S. bought massive amounts of copper on the COMEX stock market in anticipation of tariffs. The...

The U.S. trade court ruled on Thursday against President Donald Trump’s latest 10% tariffs on global goods, stating that they were not justified by a 1970s law on trade. However, the court only halted 'the levy on Washington State and two small businesses. The U.S. Court of International Trade has ruled in favor of two businesses, Washington State and the state of Washington that had challenged the tariffs which went into effect on 24 February. The decision was 2-1 with one judge stating that it was premature for the small businesses to win. The White House didn't immediately respond to...

The United States imposed financial sanctions on Thursday on a conglomerate of businesses run by the?Cuban military and a joint venture between Cubans and Canadians in the mining industry. This comes as the Trump Administration intensifies its pressure on Cuba's communist leadership by targeting foreign investment sources. Donald Trump, the U.S. president, has commented on the January military raid that was conducted to capture the leader of Venezuela's longtime ally Cuba. Cuba is next" and blocked most oil deliveries to the country. This worsened power outages in the island. Trump signed an executive directive last week that broadened U.S. Sanctions...

Three sources claim that the largest contractor of Barrick Mining’s Loulo-Gounkoto Gold Complex in Mali has closed operations and laid off more than 600 employees. This is a new sign the Canadian miner wants to reduce its exposure to high-risk assets. Sources familiar with the situation said that the move was prompted by a sluggish investment and production at the complex. Barrick had taken control of the complex from Malian administrators after a standoff over taxes and ownership. First and second sources said Barrick did not intend to renew its contract with Gounkoto Mining Services in 2026. They added that...

The head of Argentina's mining chamber said Thursday that the flagship investment incentive program for large projects, which currently has a 2027 deadline, should be extended. He argued the program was key to unlocking billions in planned investments. Roberto Cacciola said that the Incentive Regime for Large Investments, or RIGI, has helped to attract capital into the mining sector. The RIGI offers tax, currency, and legal stability advantages for projects valued at more than $200,000,000. Cacciola suggested that the scheme be expanded to include smaller projects which are important in creating jobs and supporting local supply chains. Cacciola told the...

U.S. Construction spending rebounded during March, thanks to a surge of single-family homes. However, higher mortgage rates may limit future gains. Census Bureau of the Commerce Department?said?on?Thursday? that construction spending rose by 0.6%, after falling by 0.2% in February. The economists polled had predicted that construction spending would increase by 0.2% in March. Construction spending increased 1.6% in March on an annual basis. The Census Bureau is now releasing construction spending data after the delays caused by last year's federal government shutdown. The increase in private construction spending in March was 0.8%, after falling by 0.2% in February. Residential construction...

Australian'shares' logged their second consecutive session of gains,?boosted by mining and financial stocks as hopes for a?peace agreement off the Middle East helped stabilize markets worldwide and lift risk appetite. The benchmark S&P/ASX 200 rose 1% to 8,878.10, continuing gains for the second consecutive session after gaining 1.3% on Wednesday. The global markets were encouraged by the prospects of a Middle East Peace Deal after Trump stated that he expects the war in Iran to be over soon. This positive sentiment spread into Australian markets. Cameron Curko (chief investment officer, Pitcher Partners) said that gold and copper-related miners are rising...

Gold prices rose on Thursday for a third straight session, supported by a weaker dollar. Hopes of an agreement between the U.S. and Iran eased fears over inflation. As of 0615 GMT spot gold was up by 0.4% to $4,707.52 an ounce. It had risen about 3% Wednesday, reaching its highest level since April 27. U.S. Gold Futures for June Delivery?rose by 0.5% to $4 716. Donald Trump, the U.S. president, predicted that the war between the U.S. and Iran would end quickly as Tehran considered an American peace proposal. According to sources this proposal would end the conflict formally...

In 2024, a new mine producing silver, barite, and lead opened in the mountainous central Bosnian town of Vares. After decades of economic devastation, new roads, houses, and cafes were built. The population of the small town Vares, in central Bosnia, grew with new workers and residents. Blood tests in recent months have shown that more than 300 residents living near the mine are exposed to lead. Some of these levels are high, alarming the locals and putting the future of the town into question. Four Bosnian environmental agencies have filed criminal charges with the Zenica Doboj cantonal prosecutor's office...

On 'Wednesday', copper prices reached their highest level in almost two weeks on hopes that Iran and the U.S. are nearing a deal to end the Middle East?war. The benchmark three-month 'copper' on the London Metal Exchange increased 2.1% to $13,410 per metric ton during official open-outcry trade for a third consecutive session. It had earlier reached its highest level since April 23, at $13,462. Sources said that the United States and Iran were close to an agreement over a memorandum of understanding (MOU) of one page in order to end the Gulf War. Robert Montefusco, broker at?Sucden financial, said...

The Group of Seven Trade Ministers met in Paris on Wednesday to find common ground for securing vital?mineral? supplies that are dominated primarily by China. However, the United States' recent tariff threats against European Union made cars could strain unity. As ministers prepare to hold a summit of leaders in mid-June, Nicolas Forissier, the French Foreign Trade Minister said that France wanted critical minerals supplies among its most tangible deliverables. He said: "I think we'll make concrete progress in rare earths, critical minerals and supply chain security. We won't be held hostage to certain countries." There was a broad consensus...