Economics

The world's second-largest gold miner announced in November that its 2023 gold production would be lower than expected due to equipment issues at its Dominican Republic mine and reduced output at two sites in the Nevada Gold Fields business co-owned with Newmont in the US.

China's economic troubles were laid bare on Wednesday for the world to witness, signaling a troubled economy.

On Wednesday, the world's largest player in the lithium industry, Albemarle of the US, unveiled extensive restructuring and cost-cutting measures aimed at saving millions of dollars in expenses and capital expenditures (capex).

Elon Musk wants more control over Tesla—25% to be exact, which is nearly double his current holding.

Chinese Premier Li Qiang had already revealed China's official GDP growth rate for 2023 – 5.2% – during the Davos talkfest in Switzerland on Tuesday, a day before the country's National Bureau of Statistics was set to release the official data on Wednesday.

The recent COP28 conference held in Dubai, being colloquially referred to as the Nuclear COP, was the first of the regular series of events held by the United Nations where the nuclear industry was welcomed with open arms as a critical factor in achieving global net zero.

The 6th US major to report, Morgan Stanley, produced its figures on Tuesday as well. For the quarter ended December 31, 2023, it reported revenue of $US12.9 billion, above Wall Street estimates of $US12.7 billion.

Goldman Sachs has reported its lowest annual profits in four years, as losses caused by its pullback from retail banking compounded a slowdown in its core business.

BYD's export expansion continues, with the company revealing that its first potentially fleet of car carriers started its maiden voyage on Monday from Yantai Port in Shandong and Xiaomo Port in Shenzhen.

Canada's First Quantum Minerals has announced significant cuts in its operations and spending as it grapples with the aftermath of losing its $US10 billion Cobre Panama copper mine due to a combination of government and court decisions.

First Quantum Minerals halts Ravensthorpe nickel operation due to weak prices, adding to financial woes after $10B copper mine loss in Panama.

Microsoft reclaimed its position as the world's most valuable publicly traded company on Friday, surpassing Apple at the market close. This marked a shift in their ongoing competition, as Microsoft previously held the top spot in market cap a decade ago and in 2018, 2019, and 2020.

The first significant earnings report cards from the end of 2023 for four of America’s six biggest banks mirrored the economy itself—resilient in places, weak in others, and marked by a big red warning flag.

U.S. markets observed a trading holiday on Monday due to the Martin Luther King public holiday, leading investors to exercise caution on Friday.

Crude prices experienced a notable upswing driven by heightened concerns over potential disruptions to the oil supply chain, following the vow of fierce retaliation by Yemen's Houthi rebels against recent US and UK airstrikes. Additional strikes occurred over the weekend, intensifying market anxieties.

Buried beneath the attention focused on the US Consumer Price Index release and Middle East events, a low-tier weekly figure highlights the enduring strength of the American job market, despite 11 rate hikes in 21 months.

Microsoft briefly usurped Apple to become the world's most valuable public company on Thursday. However, the iPhone maker recovered ground to end the session still just ahead.

A timely reminder to markets: don't get too ahead of reality when it comes to US inflation. December's Consumer Price Index (CPI) revealed a higher-than-forecast reading.

In November, inflationary pressures eased, as indicated by the monthly CPI data from the Australian Bureau of Statistics. However, for investors and economists seeking signs of a weakening labor market, the latest job vacancies data tells a different story.

A significant policy shift by the Reserve Bank has gone unnoticed amid the fuss about inflation at the beginning of the year.

If the 2022 experience is any indication, the impact from the surge in retail sales in November, due to the 'Black Friday' sales event held by many chains and stores, will prove to be a temporary benefit.

On Sunday night, Saudi Arabia admitted defeat in its attempt to maintain high world oil prices. They acknowledged being bested by the realities of the oil markets and consequently cut prices to their lowest point in over two years.

Audacy, the second-largest US radio broadcaster, has been forced to seek Chapter 11 bankruptcy protection to slash its debt by 80% and survive a slump in advertising and other revenues.

Over the Christmas-New Year break, several analysts and banks displayed eagerness to return to or boost small investments in the Chinese stock markets.

In the early days of this year, short sellers have turned their attention towards lithium companies, making them some of the most heavily bet-against stocks in the sharemarket. This shift comes as prices for the crucial battery metal experience a decline, raising concerns about the sustainability and capitalization of some companies in the industry.

Western nations have found themselves in a precarious situation following China's recent bans on the exports of specific rare earth technologies, intensifying the urgency to develop alternative sources in Australia, according to Australia's Resources Minister, Madeleine King.