North America

MOSCOW, February 26. The Russian rouble fell against the U.S. Dollar on Thursday but rebounded against China’s yuan after a swoon the day before when the government announced changes in the current budget because of?falling energy revenues. Finance Minister 'Anton' Siluanov announced on Wednesday that more money would be diverted into the fiscal reserves fund to avoid its depletion. This move implies that the state will reduce the sales of foreign currencies, which has supported the rouble. The?rouble has weakened sharply in the second half on Wednesday. This movement was primarily driven by statements regarding plans to lower cutoff prices...

A number of countries have started to withdraw?dependents and non-essential personnel from certain?locations? in the Middle East or advised citizens not to travel?to Iran?, due to rising tensions between Washington, D.C. and Tehran. Here are some of the moves. AUSTRALIA - The Australian government has advised dependents of Australian diplomatic staff in Israel and Lebanon that they should leave these two countries due to a deteriorating regional security situation. The government also offered voluntary departures for the dependents of Australian diplomats in the United Arab Emirates (UAE), Jordan, and Qatar. It continues to encourage citizens of Israel and Lebanon who...

Amid the rising tensions between Washington and Tehran, several countries have started to withdraw dependents of diplomats and 'non-essential personnel from certain locations in?Middle East. Or they advise citizens to postpone travel to Iran. Here are some of the most popular moves: AUSTRALIA - The Australian government has advised dependents of Australian diplomatic staff in Israel and Lebanon that they should leave these two countries due to a deteriorating regional security situation. The government also offered voluntary departures for the?dependents of Australian diplomats in the United Arab Emirates (UAE), Jordan, and Qatar. It continues to encourage?citizens of Israel and Lebanon...

Democrats in the Senate Banking Committee criticized President Donald Trump on Tuesday for not stepping up sanctions against Russia to force it to end the four-year war in Ukraine. They noted that the European Union had?designated nearly 900 targets by 2025, compared to only two?for?the?U.S. Democratic staff from the Republican-led panel released an analysis on the fourth anniversary. They identified hundreds of targets that Trump could have sanctioned during his first year as president. The war in Ukraine, Russia’s western neighbor, has caused the deaths of hundreds of thousands of people and ravaged large areas of Ukraine. They said that...

Since mid-2024, oil prices have consistently been a disinflationary factor for the U.S. economy and global economy. This may soon change. Brent and West Texas intermediate crude oil futures are at their highest level in almost seven months, fueled by signs of an economic?upturn? at the beginning of the year as well as simmering tensions between the U.S. and Iran that could lead to a military conflict. WTI rose to?above $67 per barrel on Friday, and Brent reached $72, bringing their gains for the year so far?to?around 15%. More importantly, from an inflation-calculation perspective, oil's rise means the year-on-year increase...

The U.S. Supreme Court has agreed to hear ExxonMobil and Suncor Energy's bid to quash a lawsuit filed by Boulder, Colorado officials who want to hold oil companies responsible for climate change. The Supreme Court heard an appeal from the companies against a ruling of the lower court that allowed the lawsuit to proceed. The lawsuit alleging violations of state law by the companies seeks unspecified damages for "costs incurred" by Boulder in mitigating climate change. Boulder is just one of the dozens of climate-related cases filed by U.S. states against companies that produce, extract, distribute, or sell fossil fuels....

The U.S. Commerce Department will announce a preliminary decision Monday on whether to impose antisubsidy duty on solar 'cells and panels' imported from India, Laos, and Indonesia. This announcement is one of two that the agency will make in the next few weeks regarding a trade dispute brought by a small group in the U.S. solar industry. Commerce will 'likely make final decisions later this year. The decision on Monday will examine whether the companies in these three countries have received unfair government subsidies, which make American products less competitive. Commerce will make a decision on a separate issue next...

Goldman Sachs has raised their Brent and West Texas 'Intermediate Crude Forecasts for the Fourth Quarter of 2026 by $6 each to $60 and $56, respectively. They cited lower OECD stock levels, while continuing to assume that there will be no 'Iran-related disruption in supply and maintaining a view of a surplus. It now expects Brent oil to average $64, up from $56 before, and WTI oil to average $60. As the U.S. prepared for a third nuclear?talks with Iran, fears of escalating violence were eased. Brent crude futures traded at $71 a bar at?0641 GMT while U.S. WTI futures...

Alberta will be holding a referendum in the fall to ask its residents if their government should limit "the number of" new international students and temporary foreign workers arriving in this oil-rich Canadian Province. Premier Danielle Smith announced the move in a television address on Thursday night. It was an attempt to take control of this important issue away from the federal government. Ottawa is responsible for the majority of immigration policy in Canada, and not the provinces. Smith is also trying to stop a growing Alberta separatist movement that has threatened Canadian unity, as Mark Carney tries to improve...

Congress may vote next week on whether to prevent 'President Donald Trump' from striking Iran without the approval of lawmakers. The U.S. Military is preparing for a possible serious conflict with Iran if diplomacy fails. Members of Congress have repeatedly tried to pass resolutions, which would prevent Trump from taking military action without the approval of lawmakers. The Constitution of the United States gives Congress, not the president, the power to send U.S. troops into war. The Constitution gives Congress the power to send U.S. soldiers to war, except for limited strikes to protect national security. Last week, it was...

The European Commission approved a new trusteeship on Friday that will give Berlin long-term control of the German assets owned by the Russian oil group Rosneft. This is part of the efforts to find a structural solution for the company. After the Russian invasion of Ukraine, Germany's long-standing energy relationship with Russia was shaken. It is necessary to renew the trusteeship every six months in order to?preserve energy security'. This creates uncertainty, mainly regarding the PCK Schwedt Refinery which supplies the majority of fuel to Berlin. The current trusteeship ends on March 10, 2019. The transaction that was examined by...

?Anglo American reported a $3.7billion loss?on Friday, after taking a?writedown?on its diamonds' business. The miner is pushing ahead with its plans to shed its non-core assets as well as complete its merger with Teck Resources. Anglo has wrapped up the mixed reporting season of London-listed mining companies, highlighting the divergent fortunes in this industry. Antofagasta, for example, benefited from rising copper prices, while other diversified groups struggled to cope with weaker markets for iron ore and diamonds. The company declared a $0.23 dividend per share or about $200 million. It booked a $2.3billion pre-tax impairment related to its De Beers...

The price of copper fell on Thursday, after reaching a two-week high in the previous session. A stronger dollar and rising inventories dampened expectations about a recovery in demand from China, the top consumer of the metal in the world. In official open outcry, the benchmark?three-month?copper price on the London Metal Exchange fell 0.3% to $13,286 a metric ton. The metal had reached $13,350 during the previous session. This was the highest level since February 11. Shanghai Futures Exchange also saw a similar high overnight. The Chinese have returned to the market since the first day of the Lunar New...

Mexico's Cemex announced on Thursday that it would?buy U.S. based stucco producer Omega Products?International, as part of a broader push to?offer additional building materials in its largest market. Cemex said that Omega, a privately-held firm with four locations in western U.S. generates approximately $23 million in core earnings a year, but did not reveal the purchase price. The transaction is expected to close during the first quarter. The CEO of Cemex, Jaime Muguiro, said that the purchase was in line with the company's U.S. Growth Strategy. He added that the acquisition would complement Cemex's existing operations because Omega's plants are...

Three sources reported on Thursday that global aluminium producers offered Japanese buyers premiums between $220 and $250 per metric tonne for shipments from April to June. This is an increase of?13% - 28% over the current quarter, reflecting higher overseas premiums. Japan is one of the largest Asian importers of metal. The benchmark for the region is the premium it pays for primary metals over the London Metal Exchange's cash price each quarter. Japanese buyers have agreed to pay $195 per ton as a premium for the quarter January-March The increase in sales is due to fears of a tightening...

These are the most popular?stories from the Wall Street Journal. The Wall Street Journal has not?verified?these stories or?guarantee their accuracy. The Washington Post has lost more than $100 million in the last year due to financial problems that led to the decision to reduce staff by 30% at an earlier date this month. BlueScope Steel, a company based in Australia, said that the revised 'A$15 billion (10.69 billion dollars) proposal by the U.S. Steel Dynamics consortium and 'SGH' does not address the valuation concerns of the firm. It added that there are other ways to increase shareholder value. Wayve, a...

BlueScope Steel shares in Australia fell almost 5% on Thursday, after the company said that a re-evaluated A$15 billion bid ($10.7billion) from SGH and U.S. based Steel Dynamics was not enough to win its approval. BlueScope said that it "remains" open to engaging with consortium in order to come up with a bid which reflects the "fair value of BlueScope", as opposed the the revised A$34 offer per share. After a $1 special dividend announced in January, and BlueScope’s A$0.65 interim dividend per share, the value of this bid has been reduced to A$32.35. BlueScope said that it plans to...

Ghana's Finance Minister said that the country plans to transfer 127 metric tonnes of gold per year from small-scale artisanal mining to official trade as part of revised sector reforms. This will boost foreign exchange earnings and reduce smuggling losses. African countries suffer from major gold leakage due to ASM. They lose billions of dollars in revenue every year, as undeclared and smuggled gold is transported through porous border crossings into global hubs like Dubai. According to Swissaid, Ghana's non-profit foundation, it is the continent's largest gold producer, Ghana has lost about $11.4 billion between 2019-2023. ARTISANAL SILVER TO RECOVER...

Eagle Nuclear Energy shares rose 14.6% on Wednesday afternoon after it began trading on the Nasdaq. This was following the merger of the blank-check firm, Spring Valley Acquisition Corp II. This listing comes at a time when nuclear energy is gaining traction in the U.S. after decades of stagnation. The surge in electricity demand for power-hungry centers has been a major factor. Eagle Nuclear's flagship Aurora project is one of the U.S.'s largest undeveloped uranium reserves, located along the border between Oregon and Nevada. Mark Mukhija, CEO of the project, said that there are no 'offtake agreements' yet, but it...

The copper price rose to a two-week high on Wednesday, as growth and demand optimism dominated. This was after the U.S. Supreme Court ruled that President Donald Trump could not impose sweeping'reciprocal tariffs. At 1706 GMT, benchmark copper on the London Metal Exchange was?up 1.1% to $13,318 per metric ton after reaching $13,335 in the previous session. This is the highest level since February 11. The U.S. Supreme Court struck down last week tariffs that Trump imposed under a law intended for use during?national emergency'. David Wilson, BNP Paribas commodities analyst, said that the Asian markets benefitted from the Supreme...

China's dominance in critical mineral supply chain is not as absolute as it might appear. Cobalt is an example. According to the International Energy Agency, China will account for 78% global refined output of battery metal by 2024. It lacks significant mining capacity at home, making it heavily dependent on imports. The export controls of the Democratic Republic of Congo have exposed this vulnerability. This is the biggest?source of cobalt intermediate products? for Chinese processors. Congo suspended exports of cobalt in February and implemented a quota-based system in October. The fourth quarter of the year saw a near-standstill in shipments...

The copper price rose on Tuesday to its highest level in more than a month, fueled by a positive mood and a stronger demand from China, the world's largest metal consumer, after markets reopened following a holiday. Benchmark?copper for three months on the London Metal Exchange?had gained 2.4% by 1700 GMT to $13,182 per metric ton after reaching its highest price of $13,196 since February 12. LME copper fell 0.7% on Sunday, but has gained 22.5% over the last three months. However, it is still well below its record high of $14,527.50, set on January 29. Alastair Munro is a...

Alcoa Corp, a U.S. aluminum company, is planning to sell 10 of its sites that have been closed or reduced to a minimum to the data center industry. The first sale will be completed by the end of June, according to its CEO. The data centres that are consuming more electricity than aluminium producers will be a fierce competitor for their supplies. But the surge in demand for energy also presents an opportunity to sell stakes at some sites selected because they are close to "plentiful" energy sources. Century Aluminum, Alcoa's rival, sold its unused Hawesville smelting plant to a...

The European Union faces a "transitional phase" of a few weeks in its relations with the United States. Maros SEFCIOC, European Trade Commissioner, said that President Donald Trump’s new “import surcharge” threatens to undermine a trade agreement the two sides reached last year. The EU's trade chief said at a hearing before the European Parliament, that his counterparts in the United States, Trade Representative Jamieson Greer, and Commerce Secretary Howard Lutnick had assured him that they were committed to last year’s agreement. He said that the surcharge would be in effect for 150 days and there was a deadline of...