North America

Suzanne Clark, CEO of the U.S. Chamber of Commerce, spoke in a dimly-lit ballroom Thursday. She urged executives to "be fearless" when defending free markets against government control. The U.S. should remain "open to all, to the global exchange of ideas, goods, talent, and innovation." Comments by the president of the largest U.S.-based business lobby could be interpreted as a mild 'pushback' against President Donald Trump who has been more involved in business than any other U.S. leader. He has ordered the U.S. government to invest in tech companies, claimed 'control' over corporate equity structures, imposed tariffs and advanced immigration...

Two financial sources and a market analyst reported that four Venezuelan banks received a notification this week from the country's government that it would split $300 million in oil revenue deposited into an account in Qatar. This will allow them to sell dollars for Venezuelan companies who need foreign currency to pay materials. The U.S. seizes Venezuelan oil tanks and hits the country's main revenue stream. Venezuelan companies that need to import raw materials are forced to exchange their local bolivars, which they have earned through oil sales or transactions with foreign credit cards in the country, for dollars held...

Two financial sources and a market analyst reported that four Venezuelan 'banks' were informed this week that they would split $300 million of oil revenue deposited on a Qatari account. This will allow them to sell dollars to Venezuelan companies who need foreign currency to pay for material. This injection of foreign money comes after the U.S. seizes Venezuelan oil tanks and hits the country's main revenue stream. Venezuelan companies that need to import raw materials are forced to convert their local?bolivars into dollars, which the central bank holds. These dollars were generated through oil sales and transactions with foreign...

Bloomberg News reported on Friday that Swiss commodity trading group Mercuria had a profit last year of $1.3 billion, despite paying almost no taxes. Bloomberg, citing its accounts, reported that the company had reported taxation of $ 1?million? on its profit of $1.31?billion, which is an effective tax of 0.08%. Bloomberg, citing sources, reported that Mercuria, which is privately held, does not publish its results, but it recently shared its accounts for the year ending in September with lenders. Bloomberg reports that the company will prepare separate results for its calendar year ending in December. It will then finalize these...

Vitali Klitschko, the mayor of Kyiv, said that Ukraine's capital Kyiv only has about?half as much electricity as it needs?as it is facing its worst wartime energy crisis after waves of Russian attacks against its infrastructure. Klitschko stated that Kyiv is one of Eastern Europe’s largest cities and requires 1,700 Megawatts to power its services for 3.6 million residents. Klitschko stated that the current energy crisis is the greatest challenge the capital has faced in the almost?four years following the Russian invasion of February 2022. In an interview at his office in the heart of Kyiv, Klitschko, the former heavyweight...

US officials have announced that the United States has taken another Venezuelan-linked tanker. Officials told reporters on Thursday that the United States had seized another Venezuela-linked tanker, before a meeting with?U.S. Donald Trump and Venezuelan Opposition Leader Maria Corina Machado. The seizure marks the sixth vessel that has been targeted in the last few weeks, either for carrying Venezuelan oil in its cargo or having done so previously. Officials, who spoke on condition of anonymity said that the seizure occurred in the Caribbean. Southern Command of the U.S. Military confirmed that U.S. Forces apprehended Motor/Tanker Veronica without incident. The Veronica...

China has praised the visit by Canadian Prime Minister Mark Carney to Beijing on Thursday, calling it a "pivotal step" in efforts to recalibrate relations following months of intensive re-engagement. The remarks by China's top diplomat Wang Yi came during a meeting between Carney and his Canadian counterpart Anita Anand. Anita is a member of Carney's delegation on this first visit to Canada since 2017. Wang stated that this was the first time in eight years that the Canadian Prime Minister had visited China. This is a landmark and pivotal moment for our bilateral relationship. Wang said that China was...

The U.S. Justice Department announced on Wednesday that it filed a lawsuit to 'block' a California law which requires oil and gas drilling to be kept away from schools, homes and hospital by buffer zones greater than half a kilometer (1 km). The Justice Department has said that it will be seeking a preliminary injunction to stop the?enforcement of the law in the next few days. California Senate Bill 1137 prohibits the drilling of new oil and natural gas wells in a radius of 3,200 feet (975 metres) from community spaces. It also imposes stricter health and safety standards on...

A person with knowledge of the matter said that Brazilian billionaire Joesley Batista had met with Venezuela's interim president Delcy Rodriguez before and after he met with U.S. government officials. He reassured them, according to a source familiar with the situation, that she seemed ready to allow investment in her country's oil and natural gas industry. Source: The Batista's family energy firm Fluxus is evaluating Venezuelan business opportunities. They have consolidated South American assets ever since they acquired it in 2023. Fluxus, Batista and the holding company J&F have declined to comment. The billionaire's?shuttle diplomatics, whose meatpacker JBS is a...

The oil market fell after four consecutive days of gains on Wednesday, as Venezuela resumed exports. Meanwhile, U.S. crude inventories and products rose. However there were fears that Iranian supplies would be disrupted due to deadly civil unrest. Brent futures fell 20 cents or 0.3% to $65.27 per barrel by 0525 GMT. U.S. West Texas Intermediate Crude was down 23 cents or 0.4% at $60.92 per barrel. Suvro Sarkar is an energy analyst with DBS Bank. He said that oil prices had already factored in a geopolitical premium in recent days, due to the rising tensions in Iran and drone...

The Trump administration proposed on Tuesday a rule that would revise the 'Biden-era protections against pollution for waterways. This move, according to the Environmental Protection Agency (EPA), would speed up permitting of energy infrastructure and artificial intelligence. The 'proposed' rule would revise a rule from the administration of former President Joe Biden in 2023 on Section 401, which gave tribes and states authority to protect waters during their review of federally-permitted projects such as pipelines and power stations. Biden's rule replaced one from the first administration of President Donald Trump that limited the power?of tribes and states to force changes...

The International Energy Agency's chief energy economist said that it will take some time to ramp up oil production after years of neglect in Venezuela. Donald Trump, the U.S. president, has asked U.S. oil companies to invest $100 billion in rebuilding Venezuela's industry after U.S. troops removed Venezuela's president on January 3, during an overnight raid by U.S. forces. The IEA Chief Energy Economist, Tim 'Gould, told a?energy conference held in Norway on Tuesday that the short-term implication of Venezuelan developments are likely to be relatively limited. Official data show that Venezuela has the largest estimated oil reserves in the...

On Saturday, protesters in Denmark and Greenland called for the island to be allowed to decide its own fate and criticized President Donald Trump's demand that it be ceded. Trump has said that Greenland's strategic location and its large mineral deposits are vital for U.S. national security. He has also not ruled out the use of force to seize it. The European nations sent military personnel this week to the island on Denmark's request. MARCHING FOR GREENLAND AT NUUK AND COPENHAGEN Demonstrators in Copenhagen chanted, "Greenland's not for sale", and carried slogans like "No means No", and "Hands Off Greenland",...

U.S. Factory Production unexpectedly increased in December amid a surge of primary metals production that offset a decline in motor vehicle assembly plants. However, activity contracted in the 4th?quarter due to challenges from import tariffs. The Federal Reserve announced on Friday that manufacturing?output? rose 0.2% in December after a 0.3% increase, which was upwardly revised. Economists surveyed by forecasted that production in the 10.1% sector would fall 0.2%, after an unchanged reading for November. In December, the production at factories grew by 2.0% year-over-year. It dropped by 0.7% annually in the fourth quarter, after increasing at a 2.8% rate in...

Gold prices extended losses ?from the previous session on Friday, as stronger-than-expected U.S. economic data and ?easing ?geopolitical tensions in Iran hampered bullion's bullish momentum. By 1217 GMT, spot gold had fallen 0.1% to $4610.86 an ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 Wednesday. U.S. Gold futures for delivery in February edged down 0.2% to $4,615. Carsten Menke, Julius Baer analyst, said: "There used to be a lot of momentum in the gold market. It seems that it has waned a bit at the moment ....the recent economic news...

Mali's industrial?gold?output declined 22.9% in the year 2025 due to the long?suspension? of Barrick Mining operations because of a dispute about tougher mining regulations, according to preliminary figures released by the West African nation's Mines Ministry. Mali is one of Africa's biggest gold producers. It has been pushing for reforms to increase the value of this sector. This was enshrined into a mining code that was introduced in 2023. The government announced in December that a sweeping audit had led to the recovery by mining companies of arrears amounting to 761 billion CFA francs (US$1.2 billion). The tougher rules ruffled...

Worthington Steel is planning to purchase Germany's Kloeckner and?Co. The deal values the metals trading company at $2.4 billion. Kloeckner & Co., with over 100 locations in North America and Europe, provides a wide range of products, including?carbon flat-roll?steel, electrical steel and aluminum. Swoctem is the largest shareholder of Kloeckner & Co. and has agreed to offer?its 41,53 % stake in the offer. This will be subject to a minimum acceptance threshold of 65%??of all outstanding???shares. Kloeckner & Co's shares rose by 25% in the pre-market. Worthington stated that the all-cash transaction will be conducted via a voluntary bid offer...

Gold extended its losses ?on Friday after stronger-than-expected U.S. economic data reduced expectations of near-term Federal Reserve ?rate ?cuts, while easing geopolitical tensions shrunk demand for safe-haven bullion. By 0733 GMT, spot gold was down 0.2% at $4,604,29 per ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. Gold Futures for February Delivery edged down 0.3% to $4,608.90. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any intervention to quell the unrest?in...

?Gold extended its losses on Friday after stronger-than-expected U.S. economic ?data ?dampened expectations of the U.S. Federal Reserve cutting interest rates sooner and softening geopolitical frictions shrunk safe-haven demand for the metal. By 0619 GMT, spot gold was down 0.2% at $4,604.39 per ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. Gold Futures for February Delivery edged down 0.3% to $4,608.50. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any kind...

Gold ?extended its losses on Friday after stronger-than-expected U.S. economic data ?dampened expectations ?of the U.S. Federal Reserve cutting interest rates sooner and softening geopolitical frictions shrunk safe-haven demand for the metal. By 0426 GMT, spot gold was down 0.4% at $4,598.52 an ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 last Wednesday. U.S. gold futures for delivery in February fell by 0.5% to $4.601,80. Kyle Rodda is an analyst with Capital.com. He said that the downward movement in gold began when the United States lowered the likelihood of any...

Chow Tai Fook Jewellery Group is China's largest jewellery retailer with thousands of shops across mainland China and Hong Kong. The group has begun to look further afield in search of new growth. It started?in Southeast Asia, with a brand-new store in Thailand. The company opened its flagship store at Bangkok's Siam Paragon, a luxury shopping and lifestyle center in Bangkok. This move is part a 'wave' of Chinese and Hong Kong brands moving abroad to offset slowing domestic demand and rising market saturation in the world’s second-largest economic powerhouse. Sonia Cheng said that the company's expansion abroad "sees strong...

Vanda Research published a report on Thursday that stated individual investors are buying silver at such an accelerated pace, it's now the most popular commodity in the market. Vanda Research calculated that individual investors bought $921.8 in exchange-traded funds backed by silver, such as the iShares Silver Trust. iShares ETF saw retail purchases of $69.2 million on Wednesday. This was the second largest day for retail purchasing, after 2021 when retail investors drove prices sky high. The ETF has gained 31.3% this year, and 210.9% over the last 12 months. Silver has reached new heights. Silver prices rose to $91.90...

Gold prices fell on Thursday, as weaker than expected U.S. weekly jobless claims data increased the dollar. U.S. president?Donald? Trump's more moderate tone towards Iran also weighed on the demand for gold as a safe haven. As of 01:30 pm, spot gold was down by 0.1%, at $4,614.93 an ounce. ET (1830 GMT). On Wednesday, gold reached a new record of $4,642.72. U.S. Gold Futures for Delivery in February settled at $4,623.70, a 0.3% decrease. The dollar index rose to its highest level in December 2, and bullion became more expensive for overseas buyers, according to data showing that new...

According to documents seen by the. Documents show that the order is part of Sigma's ongoing efforts to restart the mine. The mine was previously Brazil's biggest lithium producer with an annual capacity of 270,000 tons of lithium concentrate. It has been inactive for the last month. The ministry and miner did not immediately respond to comments. The firm stated in November that production would resume?in two or three weeks' time during a earnings call. SHARES DROP AFTER DOWNGRADE Bank of America, citing a lack of certainty about when production will resume, downgraded the company's?shares last week. The shares fell...