Lundin Mining Sees Management Exodus Amid Head Office Move
Lundin Mining Corp. is facing a wave of leadership departures as the Toronto-based miner navigates a return to its Vancouver roots.
Bloomberg Business
Lira Leads Emerging Market Drop After Jackson Hole Remarks
Turkey’s lira slumped as the euphoria surrounding Thursday’s jumbo interest-rate hike subsides, with questions arising over whether the aggressive move has the blessing of President Recep Tayyip Erdogan.
Goldman Sachs Sees Long-Term AI Trade Reaching Far Beyond Nvidia
The artificial-intelligence boom has investors transfixed on finding the next hot stock to explode out of the market. But Goldman Sachs Group Inc. has a different idea for playing the AI trade: forget today, think long-term.
Veritas Is Considering Takeover Offer for BlackBerry
Private equity firm Veritas Capital is considering a potential offer for BlackBerry Ltd., according to people familiar with the matter, after the once iconic Canadian technology company announced a strategic review earlier in the year.
Big Deficits Risk Mounting Treasuries Stress: Jackson Hole Paper Finds
Escalating federal borrowing needs may worsen structural deficiencies in the market for US Treasuries that were already on stark display during the 2020 Covid crisis, according to a paper presented to the Federal Reserve’s annual Jackson Hole symposium.
Hawaii Munis Plunge in Latest Investor Warning on Climate Risk
Hawaii state and local municipal bonds have surrendered all their 2023 gains in the past three weeks after the deadly Maui wildfires delivered a fresh reminder of climate risk in the $4 trillion market for state and local debt.
Euro-Zone Core Inflation Won’t Dip Enough to Exclude Last Hike
Underlying inflation in the euro area probably only dipped a touch this month, strengthening arguments for one final hike in interest rates by the European Central Bank next month.
European Gas Jumps as Lingering Supply Risks Keep Market on Edge
European natural gas rebounded on Friday, trimming this month’s first weekly drop, with traders weighing further labor talks in Australia and heavy maintenance in Norway.
Ukraine Recap: Kremlin Rejects US Claim; EU Grain Debate
Poland and four other eastern members of the EU want to prolong a ban on grain imports from Ukraine, setting up a potential showdown over limits that expire in mid-September. The request is likely to further complicate Kyiv’s efforts to find routes for its exports after Russia pulled out of a deal to allow shipments via the Black Sea. President Volodymyr Zelenskiy discussed grain shipments with Turkey’s foreign minister in Kyiv.
Powell Signals Fed Will Raise Rates If Needed, Keep Them High
Federal Reserve Chair Jerome Powell said the US central bank is prepared to raise interest rates further if needed and intends to keep borrowing costs high until inflation is on a convincing path toward the Fed’s 2% target.