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The rise in borrowing costs and the artificial intelligence investment frenzy are closely related. A long-term productivity boom is boosting estimates of neutral rates, even though workers' share of GDP is declining. Some of the bond market volatility this month can be attributed to the Iran-related oil crisis and its immediate inflation impact. Stock markets are at record highs, but it's harder to explain them during an energy crisis. Goldman Sachs estimates that AI?capex will be $7.6 trillion in the next five-year period. This is the biggest driver for both bonds and stocks. Some circles remain opposed to the idea....

London's High Court ruled Friday that South Sudan cannot enter into new?oil?prepayment contracts until it clears outstanding debts with commodity??trading???house BB Energy. A second hearing will be held on June 5th. BB Energy began a legal challenge last year through the London courts against South Sudan for allegedly failing to deliver oil purchased under prepayment agreements in 2024 or 2025. The court document read by states that a second hearing will be held on June 5 to discuss?the decision, since the first hearing was conducted?without the presence of defence lawyers. The penal notice states that South Sudan must not accept...

After nearly four months of deliberations at London's Southwark Crown Court, the jury in the bribery case against?Diezani?Alison-Madueke began its work on Monday. Alison-Madueke pleaded guilty to not guilty on five counts of receiving bribes, and one count of conspiring to commit bribery, while serving as Nigeria's Minister for Petroleum Resources between 2010 and 2015. Prosecutors claim that?Alison-Madueke 65 led a "life in luxury" in London. She was given high-end properties and luxury shopping sprees by industry figures who were interested in lucrative oil contracts. Lawyers for the former?minister who was briefly president of the?Organization of the?Petroleum Exporting Countries argued...

Anglo American announced on Monday that it would sell its steelmaking mines in Australia for up to?to $3.88billion to UK-based Dhilmar. The move will exit the sector and reduce debt, as well as streamline assets ahead of an upcoming merger with Canada's Teck Resources. London-listed Anglo is selling mines in Queensland’s Bowen Basin - the world’s leading steelmaking coal region - as part of the company's plan to 'divest or spin-off' non-core assets before completing its merger with Teck Resources, which will create a heavyweight copper focused firm. The company stated that the deal includes $2.3 billion in cash upfront...

Eneos Holdings announced on Thursday that it would purchase U.S. giant Chevron's 50 percent stake in Singapore?Refining Company and other assets throughout Southeast Asia, Australia and Australia. This will be its first venture into refining outside of Japan. Eneos stated that the deal, which includes Chevron’s assets in Vietnam, Australia Philippines and Malaysia, is expected to be closed by 2027. Chevron is looking to sell its refining assets and storage facilities in Asia, to reduce costs and streamline operations. This investment is a major step towards strengthening the business platforms that connect Japan to Southeast Asia and Oceania. It also...

The rise in government borrowing costs over the long term is not slowing down, and there are more aggravators every day. If you have been enthralled by the gravity-defying markets of this year, then look no further for where stress is growing in world markets. The debt, oil, inflation and interest rate risks, combined with the domestic political and geopolitical uncertainties, as well as the waning demand from the private and public sectors for long-term bonds, have pushed borrowing costs in the Group of Seven (G7) advanced economies to their highest level in over 20 years. According to ICE Bank...

Prices of oil rose by nearly 1% on Tuesday as the talks to end U.S. - Israel's?war on Iran? appeared fragile. Tehran's response?to a Washington proposal highlighted stark differences which have kept supply concerns alive. Brent crude futures rose 86 cents or 0.8% to $105.07 per barrel. U.S. West Texas Intermediate was up 99 cents or 1% at $99.06 as of 0411 GMT. Both benchmarks rose by nearly 2.8% Monday. U.S. president Donald Trump said on Monday that the ceasefire agreement with Iran is "on life support." He cited disagreements on several demands such as the cessation?of?hostilities across all fronts,...

The oil prices increased in the early Asian trading on Tuesday as negotiations to end the "war" between the United States of America and Iran appeared 'fragile.' Tehran’s response to the U.S. proposal highlighted stark differences which kept supply concerns alive. Brent crude futures rose 30 cents or 0.29% to $104.51 a barrel. U.S. West Texas Intermediate was up 31 cents or 0.32% to $98.38 at 00:02 GMT. Both benchmarks rose by nearly 2.8% Monday. U.S. president Donald Trump stated on Monday that the Iranian ceasefire was "on life support." He cited disagreements on several demands such as the cessation...

The government has not yet launched a scheme to pay off 500 million pounds of energy debt owed by some of Britain's most vulnerable households. However, the industry says that total arrears may reach 9 billion dollars ($7 billion) before year-end. Ministers are under pressure to increase the cost of living as energy bills are expected to rise in July. The energy watchdog Ofgem announced its Debt Relief Scheme in October last year and hoped that it would be launched as early as 2026. Before it can go into effect, the parliament must pass a law allowing energy suppliers and...

Vodacom Group, a South African mobile telecoms company, announced on Monday that it had upgraded its long-term customer growth target following the addition of millions of?customers in the last year. The group focused on Africa, owned by Britain's Vodafone in majority, has cited its rapidly growing financial services business as well as its mobile core business. Vodacom has announced that it will increase its total number of customers to 275 millions by 2030, up from the previous goal of more than 260 million. Its customer base had reached 237.3million in the financial year ending March 31. Vodacom is 'enforcing its...

Reliance Jio Platforms, owned by Indian billionaire Mukesh Ambani, is preparing to apply for regulatory approvals to list in Mumbai. This is expected to be the largest-ever stock offering in India. Jio Platforms is the second largest telecom company in the world by number of users, after China Mobile. TELECOM BUSINESS Reliance Jio Platforms is part of Ambani’s oil-to retail conglomerate,?Reliance Industries. Reliance Jio Infocomm is its most well-known business. It has more than 500,000,000 subscribers and is the largest telecom company in the country. In 2016, when Jio was launched, it offered free voice and data to rivals like...

Compass Gas e Energia SA is set to launch its initial 'public offering' on a Thursday, ending a nearly 5-year IPO stalemate on Brazil’s B3 Stock Exchange due to high interest rates. According to two sources familiar with the transaction, the offering of 89.3 millions shares by the existing shareholders of the gas distributor could generate around 3 billion Brazilian reais (about 600 million dollars). One person said that by early afternoon on Thursday, the orders had nearly tripled the size of the initial?offering. The second source said that despite the high demand, pricing may be at the lower end,...

Gold prices dropped to a 'nearly two-month low' on Wednesday. This was due to expectations that monetary policy would be tightened to combat rising inflation. The war in Iran is still far from over. As of 9 am EDT (1300 GMT), spot gold was down by 1.6% to $4,433.85 an ounce. It had fallen earlier in the day to its lowest price since March 30. U.S. Gold Futures for June Delivery fell 1.6% to $4431.60. The Middle East continues to have the biggest influence. Peter Grant, senior metals analyst at Zaner Metals and vice president, said that there was some...

On Wednesday, copper prices reached their highest level since mid-May, as lower oil prices eased inflation worries for the metal that is vital to growth. Aluminium prices remained 'near 4-year highs' amid concerns about reduced supply in the gulf region. The price of three-month copper at the London Metal Exchange dropped 0.2% in open-outcry official trading to $13,597 per metric ton after reaching $13,746, which was its highest level since May 15. Aluminium fell 0.3% to $3.663, after reaching its four-year peak of $3.707.50, on Tuesday. The Iran War has hampered deliveries in the Middle East. September alumina contracts in...

Aluminum prices reached their highest level in over four years on Tuesday as rising feedstock prices, alumina,?added?to persistent concerns?about a tightening?market amid a?reduced supply from Gulf producers. The London Metal Exchange's three-month aluminium rose by 1.4%, to $3,698.50 at 0937 GMT, after reaching $3,707.5. This is the highest level since March 24, 2020. On March 7, 2022 the metal reached a record high of $4.073.5, as markets grappled with the immediate aftermath of Russia's invasion in Ukraine. A 5% increase in September alumina contracts on the Shanghai Futures Exchange, which rose to their highest level since early May due to...

The dollar and oil prices fell on Monday, as a result of hopes for a possible peace agreement between the United States and Iran. This eased fears about inflation and an economic slowdown. By 0845 GMT, the most traded copper contract at the Shanghai Futures Exchange had gained 1.1%, to 105.650 yuan (15,548.76 dollars) per ton. We are hearing some good news about the conflict. Soni Kumari, an ANZ analyst, said that the positive market sentiment is a result of this. The Middle East conflict has caused supply disruptions, which have a negative impact on the demand for base metals....

The dollar and oil prices fell on Monday, as hopes of a possible peace deal between the United States and Iran grew. This eased fears about inflation and an economic slowdown. By 0552 GMT, the most traded copper contract at the Shanghai Futures Exchange had gained 0.9%, to 105.370 yuan (15,507.56) per ton. "We're getting positive news about the conflict." Soni Kumari, an ANZ analyst, said that this is good news for the industrial metals market. The Middle East conflict has caused supply disruptions, which is why metals demand remains strong, according to Kumari. Oil prices fell below $100 per...

Copper prices rose on Monday, as the dollar and oil fell in anticipation of a possible 'peace agreement' between Iran and the United States. This eased fears about inflation and an economic slowdown. The Shanghai Futures Exchange's most traded copper contract rose 1.1%, to 105 590 yuan (15,539.93 dollars) per ton. Oil prices fell below $100 per barrel as oil traders awaited the announcement of a U.S. Iran deal to reopen Strait of Hormuz. The Middle East conflict has caused energy prices to rise sharply, raising inflation fears and changing the outlook for global interest rates. Hopes of a peaceful...

Authorities said that a'strong earthquake' struck Chile’s mining region?Antofagasta?on Monday afternoon, disrupting operations at?some mines, but ultimately saving lives and critical infrastructure. Major miners have reported minimal damage from the magnitude 6.9 quake that struck the heart of the largest copper producing country in the world. The U.S. Geological Survey measured the depth of the earthquake at 109 kilometers (68 miles). A spokesperson for Chilean copper miner Codelco said that some activities were halted due to a?lack of visibility or disruption of electricity in certain?areas. BHP and Antofagasta, both mining companies, said that their operations were not affected by earthquake....

Mount Everest Expedition operators should focus on the experience of climbers and their 'knowledge' to reduce risks and minimise deaths, according to a British climber who is a guide and has made more ascents up the mountain than any other non-Sherpa. Five people died on Everest in this year. Some had problems at high elevations and needed to be rescued while descending. Kenton Cool, 52 who last week climbed Everest for the?20th time, said that climbing it wasn't as risky as people thought if you used the right techniques, guides and planning. Cool said that operators should be more careful...

Copper prices rose Friday, as falling inventories overshadowed expectations of seasonal muted demand from China's top metals consumer and uncertainty about progress in U.S. Iran peace talks. In open-outcry official trading, the price of a metric ton of three-month 'copper' on the London Metal Exchange rose 0.6% to $13,599 per tonne. Copper stocks available in LME registered warehouses LME data daily showed that the price of crude oil fell to its lowest level in 10 weeks after 53 325 tons had been earmarked for shipment. COMEX traded at a higher price than the LME benchmark, as the market waited to...

Copper prices eased on Thursday due to concerns over the'slow progress of the U.S. in negotiating a peace agreement with Iran and a possible 'weaker demand for metals from a prolonged war. The benchmark three-month copper price on the London Metal Exchange fell 1.3%, to $13,480 per metric ton during the official open-outcry trade after rising by 1.8% the previous session. LME copper is up 8% for the year, but it has fallen from its high of $14,196.50 last week. Ewa Mnthey, commodities strategist at ING, said: "For the moment, geopolitics are setting the tone. But without a clear catalyst...

Copper prices rose on Wednesday,?as if to signal that the Iran War was about to end? and as Chile, the top producer of copper, cut its production forecast. Nickel's recent rally also paused while the market awaited more information?on the Indonesian supply outlook. The benchmark three-month copper price on the London Metal Exchange increased 0.6% in open-outcry official trading to $13,490 per metric ton after hitting its lowest level since May 8, at $13,350. LME copper is down from $14,196.50, its highest level in over three months, just a week earlier. Profit-taking, the strong dollar, and concerns about demand in...

Anglo American announced on Monday that it would sell its steelmaking mines in Australia for up to 3,88 billion pounds to UK-based Dhilmar. The move is part of Anglo American's strategy to exit the sector and reduce debt, as well as streamline assets, ahead of a planned merger between Teck Resources, Canada, and Anglo American. Anglo, listed in London, is selling the mines located in Queensland's Bowen Basin - the world's leading steel-making coal region - as part of its plan of divesting -or spinning off - non-core assets before completing the merger between Teck Resources and Anglo that will...