Copper mining giant rejects takeover proposals

Anglo American has rejected a £31.1bn takeover proposed by rival miner BHP, branding it “highly unattractive” and “opportunistic”.   BHP confirmed on Thursday that it had approached Anglo American about a deal which would create the world’s largest copper producer.   But Anglo American has rebuffed the approach, in particular the plan to significantly restructure […]

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Tesla profits fall as job cuts continue

Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn, compared with $2.51bn in 2023.   It caps a difficult period for the electric vehicle maker, which faced with falling sales, has announced thousands of job cuts.   Boss Elon Musk remains bullish about its prospects, telling investors […]

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US growth less than forecast, inflation increases

The US economy grew by less than forecast in the first three months of this year but inflation gathered pace, which could delay an interest rate cut.   Official figures revealed the economy expanded at an annualised rate of 1.6%, far below expectations and the growth seen in the final months of 2023.   Meanwhile, […]

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Oil and gold prices ease after Iran downplays attacks

Oil and gold prices have eased after Iranian authorities appeared to downplay reports of an attack from Israel.   Brent crude, the international benchmark, fell after jumping briefly to over $90 a barrel after reports emerged of an attack.   Gold briefly came close to a record high before settling below $2,400 an ounce.   […]

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Biden calls for a tripling of tariffs on Chinese metals

US President, Joe Biden has called for a tripling of tariffs on some steel and aluminium from China.   It is the latest protectionist policy to be embraced by Mr Biden as he campaigns for re-election against Donald Trump, who was known for his tough trade stance against China.   The White House said the […]

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Oil prices fall despite Iran attack

Oil prices fell on Monday after Iran’s reprisal attack on Israel over the weekend.   Brent crude was lower but still trading close to $90 per barrel.   Prices had already risen in expectation of action by Iran, with Brent crude nearing a six-month high last week.   Analysts said the markets would be looking […]

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US bank boss warns interest rates could rise to 8%

The boss of one of the world’s biggest banks has warned US interest rates could climb to 8%.   Jamie Dimon, the head of JPMorgan Chase, said his bank has prepared for interest rates to jump because of “persistent inflationary pressures”.   Central banks around the world have been busy raising rates in a bid […]

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