By Divya Rajagopal TORONTO (Reuters) – A handful of Canadian, German and Australian critical mineral explorers plan to command premium prices for key metals used in electric vehicles, promising quality and consistency in exchange for shifting reliance away from China, the dominant producer and price-setter. China controls 95% of the production and supply of rare…
By Jody Godoy (Reuters) – Target asked a Florida judge to dismiss a shareholder lawsuit that alleged the retailer ignored risks of offering LGBTQ-themed merchandise for Pride Month, saying the case has no basis. The U.S. retailer said in court papers filed Tuesday that investor Brian Craig merely disagrees with Target’s business decisions, and has…
By Aatrayee Chatterjee and Ananya Mariam Rajesh (Reuters) -Under Armour on Wednesday raised its annual gross margin expectations as the sportswear maker benefits from abating cost pressures even as it struggles with tepid demand in its biggest market of North America. The company’s shares, down about 29% so far this year, were last up 5%…
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday that the Internal Revenue Service will be able to electronically accept 20 additional tax forms by early 2024, but warned its progress in modernizing systems and improving customer service would be hurt if Congress cuts the tax agency’s funding. In remarks…
BEIJING/SHANGHAI (Reuters) -Baidu ordered artificial intelligence chips from Huawei this year, two people familiar with the matter said, adding to signs that U.S. pressure is prompting Chinese acceptance of the firm’s products as an alternative to Nvidia’s. One of the people said Baidu, one of China’s leading AI firms, which operates the Ernie large language…
By Suzanne McGee (Reuters) – The weakening of a long-established correlation between the price of exchange-traded funds (ETFs) tied to gold and gold mining stocks have investors eyeing a range of potential causes, including massive buying from global central banks and shortfalls in gold production. The SPDR Gold Shares ETF, which tracks the price of…
(Reuters) – WeWork, the SoftBank Group-backed startup, sought U.S. bankruptcy protection on Monday after its bets on companies using more of its office-sharing space soured. Below is a timeline of WeWork developments since mid-2019: Aug 2019 WeWork filed for an IPO and published detailed financial statements that showed it lost almost $700 million in the…
LIMA (Reuters) – The head of Peru’s mining guild on Tuesday said that while copper mining investment might be slow to recover next year, the Andean country could still see growth in production of the metal if large-scale mines are not affected by social protests. Victor Gobitz, president of SNMP – the top mining guild…
By Blake Brittain (Reuters) -Footwear giant Nike filed federal lawsuits on Monday against rivals New Balance and Skechers, accusing them of infringing patents related to Nike’s technology for making upper portions of sneakers. The lawsuits said that several New Balance athletic shoes and Skechers sneakers misuse Nike’s patented “Flyknit” technology for running, soccer and basketball…
The mining industry in 2024 stands at a crossroads marked by a dynamic interplay of reduced capital expenditures, evolving market demands, heightened environmental, social, and governance (ESG) scrutiny, and strategic shifts by leading companies. This comprehensive analysis, which incorporates insights from recent reports and the investment trends in top mining stocks, aims to provide a…
