Anglo American (LSE:AAL,OTCQX:AAUKF) announced plans to divest its De Beers diamond business as it moves to restructure in the face of a takeover bid from rival miner BHP (ASX:BHP,LSE:BHP,NYSE:BHP). In a Tuesday (May 14) press release, the company said it wants to streamline its operations and focus on high-demand sectors…
Galan Lithium (ASX:GLN) reported a contained inventory of 1,000 tons of lithium carbonate equivalent (LCE) at its Hombre Muerto West (HMW) project in Argentina, according to an article by The West Australian. Galan’s HMW project has reached 33 percent completion with total pond construction of 45 percent and the first…
The US Bureau of Labor Statistics released its latest consumer price index (CPI) figures on Wednesday (May 15), showing that inflation cooled slightly in April, recording a year-over-year increase of 3.4 percent. That’s down from March’s 3.5 percent level and slightly closer to the US Federal Reserve’s 2 percent target.…
There’s been a great deal of speculation surrounding a potential Starlink initial public offering (IPO). Elon Musk’s satellite internet business been referred to by many as the future of global connectivity, offering low latency and high speed in even the most remote locations. To date, the company controls roughly 6,000…
When it comes to spending money in retirement, there’s one rule of thumb — the 4% rule — that has persisted for decades. The 4% withdrawal rule calls for retirees to withdraw that portion from their investment portfolio in the first year of retirement. In each subsequent year, the amount of those withdrawals is…
The Dow Jones Industrial Average slipped on Monday, snapping an eight-day winning streak, as traders grappled with rising inflation expectations ahead of key reports due later in the week. The 30-stock Dow fell 81.33 points, or 0.21%, to close at 39,431.51. The S&P 500 inched lower by 0.02%, ending at 5,221.42. The Nasdaq Composite added 0.29%,…
Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month, the company announced Tuesday. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Selipsky after he exits the company on June 3, Amazon said. In a memo to employees, Selipsky said…
Get ready for the next cable-like streaming bundle: Comcast later this month will launch a three-way bundle — with Peacock, Netflix and Apple TV+ — offered at a deep discount, Comcast chief Brian Roberts said. Dubbed StreamSaver, the bundle will be available to all Comcast broadband, TV and mobile customers, Roberts said, speaking Tuesday at…
Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected and will keep the central bank on hold for an extended period. Speaking to the annual general meeting of the Foreign Bankers’ Association in Amsterdam, the central bank leader noted that the rapid disinflation that…
Price growth in many key consumer categories has slowed considerably or ceased altogether — but that has done little to dent consumer worries as the costs of housing and other services have continued to climb. Among the broadest categories tracked by the consumer price index, or CPI, two of the…