He sees the yellow metal reaching US$3,800 to US$5,700 per ounce during this cycle. “Post-election we had a selloff, which I think was wonderful and needed and healthy. These are buying opportunities, this is not the end of the bull market — not even close. None of the factors suggesting…
Anglo American (LSE:AAL,OTCQX:AAUKF) said on Monday (November 25) that it has entered into definitive agreements to sell its entire steelmaking coal business in Australia to Peabody Energy (NYSE:BTU). The portfolio primarily consists of an 88 percent interest in the Moranbah North joint venture, a 70 percent interest in the Capcoal…
Kenneth Leech, the former co-chief investment officer of Western Asset Management Co, was charged by U.S. authorities on Monday with running a fraudulent “cherry-picking” scheme where he improperly favored some clients’ accounts over others when allocating trades. The U.S. Securities and Exchange Commission said that between January 2021 and October…
Walmart on Monday confirmed that it’s ending some of its diversity initiatives, removing some LGBTQ-related merchandise from its website and winding down a nonprofit that funded programs for minorities. The nation’s largest employer, which has about 1.6 million U.S. workers, joined a growing list of companies that have stepped back from…
Spanish retailer Mango is embarking on a bold expansion plan in the U.S. as it looks to shed its fast-fashion image and position itself as a premium brand. The privately held company, headquartered in Barcelona, plans to open 42 new storefronts in the U.S. by the end of the year…
Kohl’s is getting a new CEO, its third since 2018. The off-mall department store’s current CEO Tom Kingsbury is stepping down effective Jan. 15. He will leave the position he held first on an interim basis starting in late 2022, and then permanently since early 2023. Michaels CEO Ashley Buchanan will…
Romania’s political landscape is reeling after a little-known, far-right populist secured the first round in the presidential election, electoral data showed Monday, going from an obscure candidate to beating the incumbent prime minister. Calin Georgescu, who ran independently, will face off against reformist Elena Lasconi in a runoff in two…
A British man has been taken prisoner while fighting for Ukraine in Russia’s Kursk region, Russian state media has reported. Russian state media outlet TASS said the man was 22-year-old James Scott Rhys Andersen, a former British soldier, citing a military source. The British Foreign Office confirmed it was “supporting…
Israeli Prime Minister Benjamin Netanyahu approved the emerging ceasefire deal with Hezbollah “in principle” during a security consultation with Israeli officials Sunday night, a source familiar with the matter said. Israel still has reservations over some details of the agreement, which were expected to be transmitted to the Lebanese government…
At least 17 people are missing after a tourist yacht sank in the Red Sea following warnings about rough seas, Egyptian officials said Monday. The governor of the Red Sea region, Amr Hanafy, said rescuers saved 28 people from the vessel south of the coastal town of Marsa Alam, and…