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May 24, 2022

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Glencore prepares to pay up to $1.5 bln to settle U.S., UK, Brazil probes

Reuters
Glencore agrees settlements in U.S., Brazil Glencore Energy (UK) charged with bribery over oil operations UK sentencing hearing called for June 21 LONDON, May 24 (Reuters) – Glencore Plc (GLEN.L) said on Tuesday it anticipates paying up to $1.5 billion to settle accusations of bribery and market manipulation by U.S.,......

Dividend payouts hit first quarter record, but outlook rocky

Reuters
U.S. one dollar banknotes are seen in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration//File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, May 24 (Reuters) – Mining and oil firms led an 11% jump in dividend payouts to a first-quarter record of $302.5 billion, according to......

Russia stops Finland gas flows over payments dispute

Reuters
A view shows valves near a drilling rig at a gas processing facility, operated by Gazprom company, at Bovanenkovo gas field on the Arctic Yamal peninsula, Russia May 21, 2019. Picture taken May 21, 2019. REUTERS/Maxim Shemetov/File Photo Register now for FREE unlimited access to Reuters.com Register OSLO, May 21......

Woodside’s ‘crown jewel’ Scarborough gas lures buyers to fill Russia gap

Reuters
MELBOURNE, May 20 (Reuters) – Woodside Petroleum (WPL.AX) has received strong interest from companies for a stake in the Scarborough natural gas project it is developing off Western Australia in the wake of the Ukraine conflict, Chief Executive Meg O’Neill said on Friday. Woodside is set to become 100% owner......

Half of Gazprom’s 54 clients opened Gazprombank accounts, says Russia’s Novak

Reuters
A person is pictured through a window above a Gazprombank branch in Moscow July 17, 2014. REUTERS/Sergei Karpukhin/File Photo Register now for FREE unlimited access to Reuters.com Register May 19 (Reuters) – Half of Russian gas giant Gazprom’s (GAZP.MM) 54 clients have opened accounts at Gazprombank, Deputy Prime Minister Alexander......

Indian shares slump as inflation, economic slowdown fears linger

Reuters
A security guard walks past the logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, May 19 (Reuters) – Indian shares dropped 2% on Thursday, weighed down by a broader market......

Analysis: U.S. coal companies struggle to cash in on Europe crunch

Reuters
WASHINGTON, May 17 (Reuters) – U.S. coal producers are seeking to boost exports to cash in on soaring prices since Russia’s invasion of Ukraine but face big headwinds including shipping bottlenecks, labor shortages, and a dismal long-term outlook discouraging investments in new mines. The outlook means the United States, which......

Gold attempts rebound as dollar backs off highs

Reuters
Gold up after hitting lowest since Jan. 31 on Monday SPDR Gold Trust holdings extend slide to lowest since March Dollar slips further from last week’s two-decade high Silver up for third straight session May 17 (Reuters) – Gold rose on Tuesday as a retreat in the dollar helped bullion......

Imperial Brands says no ‘buyback’ clause in Russia exit

Reuters
Packs of Gauloises cigarettes are on display in a tobacco shop in Vienna, Austria, May 12, 2017. REUTERS/Leonhard Foeger Register now for FREE unlimited access to Reuters.com Register LONDON, May 17 (Reuters) – Imperial Brands (IMB.L) said on Tuesday the terms of its recent agreement to exit Russia did not......

Column: European smelter hits mean another year of zinc shortfall: Andy Home

Reuters
LONDON, May 16 (Reuters) – The global refined zinc market is expected to register a supply shortfall of 292,000 tonnes this year, according to the International Lead and Zinc Study Group (ILZSG). It will be the second consecutive year of deficit after global production fell short of demand to the......

Gold up from 3-month lows as U.S. bond yields weaken

Reuters
Sales persons wait for customers at a gold jewelry showroom in Chandigarh, India, November 9, 2016. REUTERS/Ajay Verma Register now for FREE unlimited access to Reuters.com Register Dollar starts week just off recent 20-year high against peers Momentum clearly favours further downside in gold – analyst Gold prices touched lowest......

Adani Group to acquire Holcim’s India business for $6.39 billion

Reuters
The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave/File Photo Register now for FREE unlimited access to Reuters.com Register May 15 (Reuters) – Holcim AG (HOLN.S) on Sunday said it signed a......

Burning munitions cascade down on Ukrainian steel plant, video shows

Reuters
LONDON, May 15 (Reuters) – White brightly burning munitions were shown cascading down on the Azovstal steel works in the Ukrainian port city of Mariupol in what a British military expert said looked like either an attack with phosphorus or incendiary weapons. Reuters was not able to immediately identify the......

Canadian board recommends rejection of Baffinland bid to mine more iron

Reuters
May 13 (Reuters) – A Canadian review board on Friday cited environmental concerns as it recommended the government reject Baffinland Iron Mine Corp’s request to double production at its Mary River iron ore mine on Nunavut’s Baffin Island, a C$1.3 billion project that has divided the Inuit community. The Nunavut......

Trevali says caught unawares by downpour that flooded Burkina mine

Reuters
PERKOA, Burkina Faso, May 13 (Reuters) – Executives at Canada-based Trevali Mining Corp (TV.TO) said the company was caught unawares by a torrential downpour during the dry season last month in Burkina Faso that left eight men trapped underground in its Perkoa zinc mine. Rescue efforts are continuing since the......

Column: China lifts metals exports as Western supply chains buckle: Andy Home

Reuters
LONDON, May 12 (Reuters) – China exported 45,260 tonnes of primary aluminium in March, the highest monthly total since April 2010, with almost half of it to the Netherlands. The month before 20,000 tonnes of metal left China destined for Montenegro and another 5,000 tonnes for Italy. Exports of unwrought......

Gold prices wobble as soaring dollar, sliding yields tussle

Reuters
A customer checks a gold necklace before buying it at a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 3, 2022. REUTERS/Rupak De Chowdhuri Register now for FREE unlimited access to Reuters.com Register U.S. CPI rose 0.3% last month Gold down......

Philip Morris bets on cigarette alternatives with $16 bln bid for Swedish Match

Reuters
Packs of Marlboro cigarettes are on display in a shop in Saint Petersburg, Russia April 10, 2022. REUTERS/REUTERS PHOTOGRAPHER Register now for FREE unlimited access to Reuters.com Register Offer values Swedish Match at close to $16 bln Swedish Match leader on fast-growing US nicotine pouch market Deal would boost PMI’s......

Column: Bear funds flex muscles on copper as macro outlook darkens: Andy Home

Reuters
LONDON, May 10 (Reuters) – Hedge funds are turning increasingly bearish on the copper market amid mounting evidence that global manufacturing activity is starting to stall. Bears now outnumber bulls on the CME copper contract for the first time since May 2020, when the copper price was just starting to......

Musk says he would reverse Twitter ban on Donald Trump

Reuters
May 10 (Reuters) – Billionaire Elon Musk said Tuesday he would reverse Twitter’s ban on former U.S. President Donald Trump when he buys the social media platform, the clearest signal of Musk’s intention to cut moderation of the site. Musk, the world’s richest person and chief executive of Tesla Inc,......

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