Western Europe

El Nino could cause cocoa prices to rise by several thousand pounds per metric tonne, according to the chief executive of Barry Callebaut, one of 'the world's leading cocoa processors. El Nino, an 'climatic pattern that can increase temperatures and increase risk of extreme weather conditions, could reduce the yields of crops, including cocoa. This would limit supply and push up prices. Hein Schumacher, CEO of Hein Schumacher, said in a press conference that the prices shouldn't jump as much as they did over the past couple of years. London cocoa futures are trading at PS2,944 per ton ($3,964), down...

The Russian President Vladimir Putin will host his fifth conference on wartime economics in St. Petersburg. His government is struggling to find a growth strategy, as the?Ukrainian attacks on the economy are hitting the economy. Businesses also see no end to this war. The $3 trillion economy of Russia, which is heavily dependent on commodities, shrank to 0.2% growth in the first quarter 2026 from 4.9% in 2024. Officials blamed high interest rates, Western sanctions and a strong ruble. The growth rate is expected to be a modest 0.4% in 2018. The Ukrainian drone attacks on Russian refineries, fertiliser factories...

Jarle Roth, a member of the board at Equinor's Norwegian oil group, was voted by its nomination committee as the?new chairman after Jon Erik Reinhardsen announced his decision to step down. Reinhardsen has been the chairman of the board since nearly a decade. He has overseen a push to expand into low-carbon and renewable businesses. This expansion has slowed down in recent years due to rising costs, concerns about energy security and U.S. headwinds. Equinor issued a statement in which it said that Jon Erik Reinhardsen - who has been the chair of the Board since 2017 - would like...

Patrick Pouyanne, Chairman and CEO of TotalEnergies, said at the annual general meeting held on Friday that French citizens prefer to have energy companies 'cap fuel prices' at the pump rather than pay a tax on superprofits. He was answering a climate NGO's representative who asked if?the company could do more to help ease the price shocks for consumers. TotalEnergies has been criticized for its massive profits from oil price spikes caused by the war in Iran. French politicians are pushing for a tax on the company to help lower prices. Pouyanne claimed that a survey had revealed that French...

Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City, said that the already high levels of inflation make it difficult to assume that the current energy shock will only have a temporary effect on prices and can be ignored. "My main concern is the inflation which has been too high and above target for a long time," Schmid stated in a text of a talk to be given before a conference held in Iceland. I place little weight on the assumption that the recent rise in prices will be temporary within a reasonable time frame. As such, "my...

VCI, the German chemicals lobby, said on Friday that the first-quarter production, sales, and prices all fell. The sector is also facing a lack of optimism due to the 'increase in energy, raw materials, and transportation costs linked to the Iran war. Chemicals, including pharmaceuticals, saw a 6% decline in production figures for the quarter. VCI reported that producer prices dropped by 1%, and sales fell 5.4% compared to a year earlier. Third-largest industrial sector in Europe's economic powerhouse, Germany, can be seen to be a barometer for the region's economy. It produces components that are used across industries ranging...

EU foreign ministers warned on Thursday that Russia would not be able to choose who represented Europe in any future talks with Moscow about Ukraine. The bloc's chief of foreign policy also said that Moscow showed no real interest for peace. The?ministers? met informally on Cyprus to discuss their strategy towards Russia, as Kyiv calls for greater European involvement in order to end the conflict while the U.S. is focused on the Iran crisis. The Kremlin told the RIA News Agency on Wednesday that Russian President Vladimir Putin was open to talks with Europe. Meanwhile, Ukrainian President Volodymyr Zelenskiy has...

France has written a U.N. Security Council Resolution on setting up a international mission to restore?movement?in Strait of Hormuz?and You could submit it, if The conditions are "right",?the Foreign Ministry said on Friday as Washington struggled to put to a vote an anti-Tehran text that Russia and China might claim is biased. The control of the narrow waterway is a major obstacle to ending the U.S.-Iran conflict, which has lasted for three months. It's a vital artery in the global energy trade, and its virtual closure caused oil prices to skyrocket. The U.S. and Bahraini resolutions on the strait have...

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....

Data exclusively shared with shows that demand for electric vehicles has risen in Europe as fuel prices linked to the 'Iran War' have pushed sales of second-hand and new EVs. This is a boost for the auto industry. While?sales for fully electric cars in Europe are expected to grow 30% by 2025, the adoption of EVs on the continent is still behind industry expectations. 'Carmakers - from Fiat-owned Stellantis to Volkswagen, who had invested heavily to meet the expectation of a much higher EV market, have booked multi-billion dollar charges in the past year to cover asset writedowns. The rise...

Treasury Secretary Scott Bessent called on allies on Tuesday to disrupt Iran's.financing network and said that the Treasury would clear its outdated sanctions list to.make it easier for the financial institutions to.root out the most sophisticated terrorist funding schemes. Bessent said that after the G7 finance leaders met at Paris, participants in an anti-terrorism funding conference should "stand in full measure with us" against Iran. Bessent stated that "this will require our European partners, for example to join the United States by taking action against Iran, including by designating its financiers and unmasking their shell and front company, closing its...

Treasury Secretary Scott Bessent called on allies on Tuesday to'more forcefully disrupt Iran’s financing networks. He also said that the Treasury would scrubbing its outdated sanctions list to make it easier to root out sophisticated terrorist financing schemes. Bessent, in remarks prepared for a conference on anti-terrorism finance after the G7 finance leaders had met in Paris said that participants should "stand with us fully" against Iran. Bessent stated that "that will require our European partners, for example to join the United States by taking action against Iran, by designating its financials, unmasking their shell and front companies and?shuttering their...

Gold prices rose by 1% on Tuesday, boosted by lower U.S. Treasury yields. Meanwhile, oil prices fell, easing fears of rising inflation and interest rates. By 1136 GMT, spot gold had risen 1% to $4,526.7 per ounce. U.S. gold for August delivery rose 1.2% to $4,58.60. After U.S. president Donald Trump announced that talks with Iran are ongoing, oil prices dropped. Lower fuel prices reduce inflation fears and may also help to reduce bets on higher interest rates. Gold is traditionally viewed as a hedge to inflation. However, in an environment of high interest rates it loses its appeal as...

Gold prices rose by more than 1% on Tuesday as a result of lower U.S. Treasury yields. Meanwhile, oil prices fell, easing fears about higher interest rates and inflation. By 0900 GMT, spot gold had risen 1% to $4,525.72 per ounce. U.S. Gold Futures for August Delivery rose 1.1% to $4,556. Oil prices dropped after U.S. president Donald Trump announced that talks with Iran are ongoing. Lower fuel prices reduce inflation fears and bets on higher interest rates. Gold is traditionally viewed as a "hedge" against inflation. However, in an environment of high interest rates it becomes less attractive as...

Gold prices rose on Tuesday due to a decrease in Treasury yields, as well as a partial ceasefire between Hezbollah, Israel and Hezbollah. Investors waited for more information on the U.S. Iran peace talks, despite conflicting reports. Gold spot rose by 1.1% at $4,532.74 an ounce as of 0731 GMT. U.S. Gold Futures for August Delivery gained 1.3%, reaching $4,562.90. Gold prices are rising due to the ceasefire agreement between Hezbollah and Israel, said GoldSilver Central's Managing Director Brian Lan. He added that lower Treasury yields also helped the metal. The yield on the benchmark U.S. Treasury 10-year note has...

Gold prices rose on Tuesday due to a decrease in Treasury yields, as well as a partial ceasefire between Hezbollah, Israel and Hezbollah. Investors awaited more details about the U.S. Iran peace talks, despite conflicting reports. By 0556 GMT, spot gold had risen 0.8% to $4,517.33 per ounce. U.S. gold for August delivery rose 0.9% to $4,47.80. GoldSilver Central's Managing Director Brian Lan said, "It appears that the ceasefire between Israel and Hezbollah has led to a slight increase in gold prices." He added that lower Treasury yields had also helped the metal. The yield on the benchmark U.S. Treasury...

Gold prices edged up a bit on Tuesday due to lower Treasury yields, a partial ceasefire between Hezbollah, and Israel. Investors waited for more details about the U.S. Iran peace talks, despite conflicting reports. By 0420 GMT, spot gold had risen 0.5% to $4,507.56 per ounce. U.S. Gold Futures for August Delivery rose 0.7% to $4,539. Gold prices are rising due to the ceasefire agreement between Hezbollah and Israel, said GoldSilver Central's Managing Director Brian Lan. He added that lower Treasury yields also helped the metal. The yield on the benchmark 10-year U.S. Treasury Note ticked down, reducing the cost...

Two sources with knowledge of the matter said that Barrick Mining is evaluating a London listing for its African operations. A potential?all-share?transaction?with UK-listed Endeavour Mining was one option being considered. Sources said that discussions are in an early stage, and there has not been a decision made. They added that it is uncertain whether a deal would materialise, and no announcement was expected soon. Market capitalization could reach $30 billion for the combined entity. Barrick and Endeavour mining?didn't comment. One source said that one scenario was being considered, whereby the Canadian listed miner would keep its Toronto listing and become...

An Indian official stated that New Delhi could reconsider the tariff concessions it made to Britain on Scotch Whisky, if London does not address New Delhi's concerns about its steel safety measures. The India-UK Free Trade Agreement, signed last May and expected to come into effect this year, has hit a snag after Britain proposed tighter safeguards for steel imports in order to protect the?domestic?industry. An Indian trade official told journalists on Monday that the ball was now in their court (UK). If they do not leverage their Free Trade Agreement, we can always revisit the concessions that we offered....

Gold prices rose?on Friday, fueled by hopes of a possible U.S. Iran ceasefire. However, they were on course for their third consecutive monthly decline due to concerns over energy-driven inflation. As of 1005 GMT, spot gold was up by 0.8% to $4,528.19 an ounce. On Thursday, gold fell to its lowest level in two months, $4,365.76, but ended higher. Metal prices have fallen by 2% so far this month. U.S. Gold Futures for August Delivery rose 0.6% to $4,59.10. Gold remains negatively correlated to oil, which impacts on inflation and monetary policy. "Gold is positively correlated with lower oil prices,...

Two sources who are familiar with the matter confirmed that SAIC Motor would sell a 10% additional stake in JSW MG Motor in India. This will make JSW, the local partner, the largest shareholder in the unit. SAIC Motors' decision comes after the Chinese company struggled to expand operations and raise equity due to New Delhi investment restrictions, even though it had trimmed its ownership to 100% and brought in domestic partners including Sajjan Jindal’s JSW Group. SAIC owns a 49 percent stake in JSW MG Motor. Sources?said that SAIC will sell a stake of 10% to JSW. JSW's stake...

Gold prices fell to a 2-month low on Tuesday, "pressured" by expectations of tighter monetary policies to combat rising inflation and the fact that there is no end to the Iran war. As of 10:30 am EDT (1430 GMT), spot gold was down by 1.4% to $4,444.64 an ounce. It had fallen earlier in the day to its lowest price since March 27. U.S. Gold futures for June delivery dropped 1.2% to $4445.20. The Middle East continues to have the biggest impact. "There was a lingering optimism, but that optimism is fading as the conflict continues," said Peter Grant. He...

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...