Chile court gives BHP’s Cerro Colorado copper mine 90-day water pumping reprieve

Chile court gives BHP’s Cerro Colorado copper mine 90-day water pumping reprieve

SANTIAGO — A Chilean court handed a reprieve to BHP’s Cerro Colorado copper mine on Tuesday, agreeing to suspend a ban on it pumping water from an aquifer for 90 days as it prepares a fresh operational continuity plan. After complaints by locals over the relatively small copper mine’s impact on natural resources, the same…

S&P does not expect Beijing to provide any direct support to embattled Evergrande

S&P does not expect Beijing to provide any direct support to embattled Evergrande

SINGAPORE — S&P Global Ratings said it does not expect Beijing to provide any direct support to embattled China Evergrande Group, amid growing investor fears the property giant could default on its debt mountain as two repayment deadlines loomed. “We believe Beijing would only be compelled to step in if there is a far-reaching contagion…

Cloud-Storage Firm OVH Seeks Up to $469 Million in Paris IPO

Cloud-Storage Firm OVH Seeks Up to $469 Million in Paris IPO

By Phil Serafino (Bloomberg) — OVH Group SAS kicked off an initial public offering in Paris, looking to raise as much as 400 million euros ($469 million) that will give the cloud-storage provider funding to finance its competition with Amazon.com Inc. and accelerate its international expansion. Existing holders will also sell shares in the IPO,…

Hong Kong opposition trade union group to disband

Hong Kong opposition trade union group to disband

HONG KONG — A Hong Kong opposition trade union coalition, the Hong Kong Confederation of Trade Unions, said on Sunday it would disband, the latest civil society organization to cease operating in the financial hub this year. The organization passed a motion last week to disband, HKCTU co-president Joe Wong told the media. (Reporting by…

Europe Faces Bleak Winter Energy Crisis Years in the Making

Europe Faces Bleak Winter Energy Crisis Years in the Making

(Bloomberg) — Europe is bracing for a tough winter as an energy crisis that’s been years in the making leaves the continent relying on the vagaries of the weather. Faced with surging gas and electricity prices, countries from the U.K. to Germany will need to count on mild temperatures to get through the heating season.…

IMF chief in spotlight after China rigging report

IMF chief in spotlight after China rigging report

PARIS — The International Monetary Fund’s ethics committee and board need to look into a report alleging its chief Kristalina Georgieva pressured staff to boost China’s ranking in a flagship report while at the World Bank, a French finance ministry source said on Friday. Georgieva has headed the IMF since 2019, during which it has…

Infamous cormorant hunting season starts again Great Lakes Cormorants formed to bring common-sense and science in aid of Ontario’s cormorants

Infamous cormorant hunting season starts again Great Lakes Cormorants formed to bring common-sense and science in aid of Ontario’s cormorants

TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) — Great Lakes Cormorants (GLC), an international collective of scientists, experts, landowners, sportsmen, concerned members of the public and non-governmental organizations who acknowledge the beneficial ecological role that cormorants and other fish-eating birds play in Ontario, was formed in response to the Ontario cormorant hunt. Today is the second…

Copper prices climb on weak U.S. inflation

Copper prices climb on weak U.S. inflation

LONDON — Copper firmed on Wednesday as the dollar dipped on lower-than-expected U.S. inflation figures that softened expectations for stimulus to be tapered soon, while aluminum was powered by further cuts to production in China. Three-month copper on the London Metal Exchange (LME) rose for the first time this week, climbing 1.7% to $9,601 per…

Oil scales six-week high as Storm Nicholas hits U.S. Gulf

Oil scales six-week high as Storm Nicholas hits U.S. Gulf

LONDON — Oil prices hit a six-week high on Tuesday as Hurricane Nicholas weakened into a tropical storm, bringing the threat of widespread floods and power outages to Texas and Louisiana, and as the International Energy Agency forecast a big demand rebound for the rest of the year. Brent crude was up 55 cents, or…

Markets update

Markets update

On the markets at 9:50 a.m. (ET): In Toronto, the S&P/TSX composite index was up 45.78 points to 20,678.84. The Dow Jones industrial average was up 244.00 points to 34,851.72. The Standard & Poor’s 500 index was up 33.68 points to 4,492.26. The Nasdaq composite index was up 90.12 points to 15,205.61. The Canadian dollar…

UAE’s Brooge Petroleum Takes First Oil at Expanded Storage Site

UAE’s Brooge Petroleum Takes First Oil at Expanded Storage Site

By Anthony Di Paola (Bloomberg) — Brooge Energy Ltd. received its first oil cargo at a newly completed section of the company’s Middle East storage terminal as it expands to meet demand for ship fuel and other products amid growing regional trade. The New York-listed company has fully contracted out the additional storage capacity, which…

Disappointed Consumers Temper U.S. Economy’s Main Growth Engine

Disappointed Consumers Temper U.S. Economy’s Main Growth Engine

(Bloomberg) — American consumers’ hopes of completely and quickly escaping the clutches of Covid-19 have been dashed by a more contagious variant, renewed mask mandates and uncertainty surrounding in-person returns to schools. A pickup in inflation, including higher costs for fuel and household energy, has also dimmed prospects for more robust spending and economic growth.…

Amazon in talks to acquire rights of NFL’s ‘Sunday Ticket’ package – CNBC

Amazon in talks to acquire rights of NFL’s ‘Sunday Ticket’ package – CNBC

Amazon.com Inc is in talks to acquire the rights of the National Football League’s (NFL) “Sunday Ticket” package and is seen as the frontrunner by others involved in talks with the league, CNBC reported, citing people familiar with the matter. The NFL is expected to ask between $2 billion and $2.5 billion per year for…

‘Halloween Kills’ to stream on Peacock at same time it plays in theaters

‘Halloween Kills’ to stream on Peacock at same time it plays in theaters

LOS ANGELES — Horror flick “Halloween Kills” will stream on Comcast Corp’s Peacock streaming service next month starting on the same day it debuts in movie theaters, distributor Universal Pictures said in a statement on Thursday. The strategy is a shift from Comcast’s earlier plan to send the film exclusively to theaters beginning Oct. 15.…

Oil Holds Gain With Hurricane Impact on Supply Still Lingering

Oil Holds Gain With Hurricane Impact on Supply Still Lingering

(Bloomberg) — Oil was steady above $69 a barrel as the slow return of U.S. output halted by Hurricane Ida more than a week ago tightened the market. Futures in New York advanced 1.4% on Wednesday after two straight days of declines. Just over 20% of U.S. Gulf of Mexico oil and natural gas production…

PayPal heats up buy now, pay later race with $2.7 bln Japan deal

PayPal heats up buy now, pay later race with $2.7 bln Japan deal

U.S. payments giant PayPal Holdings Inc said it would acquire Japanese buy now, pay later (BNPL) firm Paidy in a $2.7 billion largely cash deal, taking another step to claim the top spot in an industry witnessing a pandemic-led boom. The deal tracks rival Square Inc’s agreement last month to buy Australian BNPL success story…

Saudi Wealth Fund Makes $484 Million Bid for Mobile Towers

Saudi Wealth Fund Makes $484 Million Bid for Mobile Towers

(Bloomberg) — Saudi Arabia’s sovereign wealth fund has made a $484 million bid for a controlling stake in the mobile phone towers unit of the kingdom’s second-largest telecom company. The Public Investment Fund offered to buy a 60% stake in Zain Saudi’s towers infrastructure in a deal that would value the unit at 3 billion…

China to push on with opening capital markets to foreign investors

China to push on with opening capital markets to foreign investors

BEIJING — China will further open its capital markets to foreign investors, the country’s top securities regulator said on Monday, adding that it will pursue pragmatic cross-border cooperation to regulate overseas-listed Chinese companies. Global investors have been spooked in recent months by a flurry of Chinese regulations targeting sectors ranging from technology to private tutoring.…

Volkswagen CEO: smart cars, not e-cars, are ‘gamechanger’

Volkswagen CEO: smart cars, not e-cars, are ‘gamechanger’

MUNICH — Volkswagen head Herbert Diess on Sunday said autonomous cars, not electric vehicles, were the “real gamechanger” for the auto industry, which is facing the end of combustion engines in Europe by 2035. Diess’ comments signal the pace at which the 62-year old tries to transform Europe’s largest carmaker by basically saying that the…

Drug companies say enough U.S. states join $26 bln opioid settlement to proceed

Drug companies say enough U.S. states join $26 bln opioid settlement to proceed

Three large U.S. drug distributors and drugmaker Johnson & Johnson will proceed with a proposed $26 billion settlement resolving claims that they fueled the opioid epidemic after “enough” states joined in, the companies said on Saturday. The companies had until Saturday to decide whether enough states back the $21 billion proposed settlement with McKesson Corp,…