United States

Ammu Kanampilly NAIROBI (Dec. 11) - On Thursday, the United States threatened to reduce their foreign aid to South Sudan unless Juba lifted what they said were illegal?fees? on humanitarian shipments. In a remarkably pointed statement entitled "Time to Stop Taking ADVANTAGE of the United States," U.S. Bureau of African Affairs alleged that South Sudan's Government "imposed exorbitant charges on humanitarian shipments", and "obstructed U.N. Peacekeeping Operations". South Sudan's Minister of Humanitarian Affairs did not respond immediately to a comment request. The U.S. is the biggest humanitarian donor in South Sudan. This year, it has made rapid and 'deep' cuts...

The Kremlin announced on Thursday that Russia is interested in attracting more foreign investment. This comes after the Wall Street Journal reported that the U.S. peace plan in Ukraine included proposals to invest in Russian rare Earths and energy. The Journal reported that the plans, which were detailed in the appendices of peace proposals drafted by U.S. president Donald Trump's administration and given to European counterparts during recent weeks, included proposals to restore Russian supplies to Europe. The Journal reported that U.S. firms would also invest in Russian strategic areas such as rare earth extraction and oil drilling in the...

South Korean battery manufacturer SK On announced on Thursday that it has ended its joint venture agreement with Ford Motors for their joint batteries factories in the U.S., as part of a major business revamp to focus on areas such as energy storage systems. This split is a new beginning for one of the largest U.S. battery partnerships. It comes at a time when EV demand has slowed and there are fewer?U.S. South Korean battery manufacturers are pushed to change their U.S. strategy and expand into energy storage systems. SK On is a subsidiary company of SK Innovation that supplies...

Oil prices were stable on Thursday, as investors focused their attention?back on the Russia-Ukraine talks and watched for any possible fallout after a U.S. seize of a sanctioned oil tanker off Venezuela's coast. Brent crude futures fell 5?cents or 0.08% to $62.16 a barge at 0400 GMT. U.S. West Texas Intermediate Crude was down one cent, or 0.02% at $58.45 a barge. The benchmarks were higher on Monday after the U.S. announced that it had seized an oil-tanker off the coasts of Venezuela. Escalating tensions between both countries have raised fears about possible supply disruptions. "So far the seizure hasn't...

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...

Investors awaited progress in the Russia-Ukraine talks and concerns about supply exceeding demand. Brent crude futures rose 11 cents or 0.2% to $62.05 per barrel at 0241 GMT. U.S. West Texas Intermediate Crude was trading at $58.38 per barrel, an increase of 13 cents or 0.2%. ING analysts said that while the oil market has moved deeper?into a glut expected, Russian supply is still a concern. ING stated that "while Russian seaborne export volume is holding up well, barrels?are having a hard time finding buyers", adding that Russian oil 'output would start to drop if buyers cannot be found. After...

Elon Musk’s SpaceX will?be pursuing an initial public offer next year. The company is looking to?raise more than $25 billion with a valuation of over $1 trillion. SpaceX has begun discussions with banks regarding the public listing. This could happen around June or July. Musk said in 2020 that SpaceX would list Starlink a few years later, once revenue growth was "smooth and predictable". SpaceX didn't?immediately reply to a comment request. Saudi Aramco is the only IPO that has?achieved a value of $1 trillion or higher. It debuted 'in December 2019 and had an estimated market capitalization of $1.7 billion....

HF Sinclair forecast capital expenditures for '2026 of $775 million. This is a 11% drop from 'its estimated spending this year. After operating at full capacity in 2022 due to supply shortages resulting from Russia's invasion, U.S. refineries have focused on maintenance. The company's budget would be reduced by $325 million, which is less than the $410 millions it had forecasted for 2025. The independent refiner based in Dallas, Texas, said that it was considering expanding its pipeline system across the Rocky Mountain range and West Coast, to "bolster fuel supplies" for markets such as California and Nevada. The West...

Donald Trump, the U.S. president, has continued to criticize and take action against corporate executives, institutions and corporations, even months after assuming office. His actions, from new export deals to freezing university grants, have changed the status quo in the United States between government, law and academia. Trump has publicly criticised a number of influential individuals and entities. NETFLIX Netflix has acquired Warner Bros Discovery’s film studios, streaming service and Warner Bros Discovery’s streaming arm for $72 billion. This gives Netflix control over one of Hollywood’s most iconic assets. After a lengthy bidding war, Netflix's offer of nearly $28 per...

On Friday, Russian President Vladimir Putin and Prime Minister Narendra modi will meet in New Delhi to discuss ways to increase trade between the two countries. Western sanctions are affecting their long-standing relationship. Putin's first India visit in four years comes at a moment when New Delhi and the U.S. are in negotiations for a deal that will reduce punitive tariffs placed by Donald Trump on India's goods because of its Russian oil purchases. Moscow has been India’s largest arms supplier for decades. It has stated that it would like to import more Indian products in order to increase trade...

The Trump administration allowed transactions on Thursday with Lukoil outside of Russia, with a small waiver from sanctions imposed by the U.S. in October because the company's revenue is used to support Moscow's war against Ukraine. A posting on the Treasury Department website stated that the transactions for approximately 2,000 stations in Europe, Central Asia and the Middle East, as well as the Americas were authorized until April 29, 2026. In October, President Donald Trump imposed sanctions against Lukoil, one of Russia's largest oil companies. This triggered a rush of buyers to buy its assets, estimated at $22 billion. These...

Two sources with knowledge of the matter claim that Bernd Bergmair (former majority owner of adult entertainment group Pornhub) has approached the U.S. Treasury to buy international assets from sanctioned Russian oil giant Lukoil. As part of its efforts to press Moscow to end the war in Ukraine, the U.S. imposed Sanctions on Lukoil - Russia's largest private oil producer. Exxon Mobil, Chevron, and other oil giants have approached U.S. authorities to get permission to speak to Lukoil. Bergmair, through his lawyer, declined to say which assets he is interested in. He also refused to confirm whether he has already...

Shanghai copper prices reached a new record on Friday, and are on course for a third straight 'weekly' gain. This is due to the promise by China of a fiscal boost next year as well as the U.S. Federal Reserve reducing interest rates and expanding its balance sheet. By 0204 GMT, the most traded copper contract at the Shanghai Futures Exchange had risen 1.34%, to 93570 yuan (US$13,261.43) a metric ton. It reached an all-time high of 94.080 yuan earlier in the day. This was a record that had been set on Monday. Benchmark three-month Copper on the London Metal...

Two sources with knowledge of the matter said that Zhuzhou Smelter Group - one of China's biggest zinc smelters - broke a contract to supply Teck Resources’?Red Dog Mine in Alaska due to high tariffs caused by Washington and Beijing's trade war. Teck, a Vancouver-based company, supplies zinc concentrates from Red Dog, the world's biggest zinc mine, to clients around the globe, including Asia. At the height of their trade war, two of the world's largest economies have imposed tariffs in triple digits on each other's imported goods. After multiple rounds of talks, and a'meeting' between U.S. president Donald Trump...

The dollar fell on 'Thursday, as the U.S. Federal Reserve cut interest rates by a quarter point. Silver also surged and reached a new record high. As of 11:49 am, spot gold rose 1.2% to $4,275.39 an ounce. ET (16:49 GMT), it reached its highest level since the 21st of October. U.S. Gold futures for delivery in February gained 1.9%, reaching $4,303.90 an ounce. Spot silver rose 3.2% to $63.77 an ounce, nearing the session's record high of $63.93. Edward Meir, Marex analyst, said that silver is pulling up gold and also platinum and palladium. "There's a lot going on...

Gold edged lower on Thursday, as traders weighed ?the U.S. Federal Reserve's divided vote on a quarter-percentage-point ?interest ?rate cut, while silver climbed to yet another record high. As of 1248 GMT, spot gold dropped 0.3% to $4216.49 an ounce. U.S. Gold Futures for February Delivery gained 0.5%, to $4244.40 an ounce. Ross Norman, an independent analyst, said that the fundamentals of gold remained unchanged. The Fed cut rates by a quarter percentage point in a rare, divided vote on Wednesday. However, officials signaled a pause before further easing. They are assessing the future direction of the job market as...

Ghana has banned mining within forest reserves, as part of an environmental protection program aimed at protecting water bodies and halting the deforestation. Africa's leading gold producer, which is also the world's largest, is fighting a "surge" in?poorly-regulated small-scale mining, which is destroying cacao farms, degrading rivers and forests, and increasing sustainability risks for its mining industry, sparking protests. Industrial miners have reported frequent incursions of illegal operators on concessions. This has forced key operators such as Gold Fields AngloGold Ashanti Newmont and Asante Gold, to increase their investments in surveillance drones, security systems, and community engagement programmes. According to...

Gold edged lower on Thursday, as traders ?weighed the U.S. Federal Reserve's divided vote on a quarter-percentage-point ?interest ?rate cut, while silver climbed to yet another record high. As of 1111 GMT, spot gold dropped 0.3% to $4217.09 an ounce. U.S. Gold Futures for February Delivery gained 0.5% per ounce to $4,244.70. It's simply an over-positioning in gold due to the expectation of a rate cut which didn't?happen. Therefore, you're experiencing some selling pressure," said Ross Norman, independent analyst, adding that gold fundamentals were unaltered. In a rare split vote on Wednesday, the Fed cut rates by a quarter percentage...

Gold edged lower on Thursday, as traders ?weighed the U.S. Federal Reserve's divided vote on a quarter-percentage-point ?interest ?rate cut, while silver climbed to yet another record high. As of 0947 GMT, spot gold was down 0.2% at $4,220.09 an ounce. U.S. Gold futures for delivery in February rose 0.5% to $4247.50 an ounce. It's an overpositioning in gold, in anticipation of the rate reduction, which actually happened, and you're experiencing some selling pressure," said Ross Norman, independent analyst, adding that gold fundamentals remain intact. In a rare split vote, the Fed cut interest rates a quarter percentage point on...

After the U.S. Fed lowered interest rates, copper prices retreated from their earlier gains. However, they still rose for a second consecutive session. By 0503 GMT, the most traded copper contract at?the?Shanghai Futures Exchange had risen 0.51%, to 92130 yuan (US$13,046.43) a metric ton. It reached an intraday peak of 93,000 yuan. This is close to the record high of 93300 yuan set on December 8. The benchmark three-month Copper on the London Metal Exchange increased by 0.48%, to $11,611.5 a ton. It had reached an intraday high of $11,727.5 and was approaching an all-time record high of $11,771 in...

Gold eased on Thursday after the U.S. Federal Reserve announced a divided rate cut, leaving investors unsure about next year's pace of easing. Silver also hit a new record high. As of 0300 GMT spot gold dropped 0.2% to $4.221.49 an ounce after reaching its highest level since December 5, earlier in the session. U.S. Gold Futures for February Delivery gained 0.6% per ounce to $4,249.70. Tim Waterer, KCM Trade's Chief Market Analyst, said that "gold has not been able to kick on with the things today... Because the Fed's message essentially was that any future rate cuts would be...

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...

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...

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...