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Firms launch physical uranium buying for small investors using blockchain

London – A blockchain platform and a uranium trading company launched a marketplace on Tuesday to allow small investors to buy physical uranium, hoping to boost spot liquidity in the niche commodity.Uranium has seen a surge in interest from investors and a spike in prices in recent years as miners trimmed output and utilities sought new supplies of mineral that fuels nuclear power.A surge in electricity demand for artificial intelligence (AI) data centers is also spurring new interest in nuclear plants.

Vale to produce up to 335 million tonnes of iron ore in 2025

Sao Paulo – Vale said on Tuesday it expects to produce between 325 million and 335 million tonnes of iron ore in 2025, following an output of about 328 million tonnes this year.Vale, one of the world’s largest iron ore producers, released the estimates ahead of an investor day in New York, where executives are expected to detail the forecasts and comment on the firm’s strategic plans.

Commodities trading giant Cargill plans to cut around 8,000 jobs

Dec 3 (Reuters) - Global trading house Cargill said on Tuesday it plans to cut around 5% of its staff, or about 8,000 jobs after revenue slumped in its most recent fiscal year as crop prices hit multi-year lows.Agricultural merchants including privately held Cargill are under pressure as prices of the commodity crops they trade, such as wheat, corn and soybeans, have dropped to near four-year lows and crop processing margins have shrunk.

Wall St muted with focus on more data, Fed commentary

Dec 3 (Reuters) - Wall Street's main indexes were subdued in choppy trading on Tuesday after the S&P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials.The hotly anticipated monthly payrolls figures on Friday, a crucial metric in gauging the Fed's interest rate trajectory, are on top of investors' radar.A November reading of private payrolls is also due on Wednesday.

Global debt surges past $320 trillion as risk appetite returns- IIF

LONDON, Dec 3 (Reuters) - The world's debt stock surged by over $12 trillion in the first three quarters of 2024 to a fresh record of nearly $323 trillion, thanks to falling borrowing costs and rising risk appetite, a report by a banking trade group showed on Tuesday.Large government budget deficits suggest that sovereign debt could rise by a third by 2028 to approach $130 trillion, the report from the Institute of International Finance (IIF), a financial services trade group, found - increasing repayment risks worldwide.

Europe and Asia stocks climb while dollar and US futures hold steady

LONDON/TOKYO, Dec 3 (Reuters) - European and Asian stocks rallied on Tuesday after tech companies spurred Wall Street to record highs overnight, while the dollar held steady after jumping the previous day.Europe's Stoxx 600 index (.STOXX), rose 0.42% and Britain's FTSE 100 climbed 0.79%. France's CAC 40 (.FCHI), was up 0.35% after failing to rise along with other European indexes on Monday as the government there teetered on the brink of collapse.

Gold prices inch higher on Fed rate optimism with US data due

Dec 3 (Reuters) - Gold prices edged higher on Tuesday, as recovering expectations of a U.S. rate cut in December weighed on the dollar and Treasury yields ahead of economic data that could offer further signals on the Federal Reserve's policy trajectory.

Sterling picks up versus dollar, flat against euro

LONDON, Dec 3 (Reuters) - Sterling gained against the dollar on Tuesday after dovish comments from Federal Reserve Governor Christopher Waller and was steady against the euro as political turmoil in France kept investors on edge.The pound was last up 0.16% at $1.2678, recovering some of Monday's 0.7% loss. In the last three months, the pound has fallen 3.33% against the dollar.

Central banks extend easing cycle in November as uncertain 2025 looms

LONDON, Dec 3 (Reuters) - Monetary easing by central banks across developed and emerging economies trundled along in November with markets warily gearing up for a new year that could bring tectonic shifts to the global policy making backdrop.

TSX futures rise on energy boost; Scotiabank kicks off domestic bank earnings

Dec 3 (Reuters) - Futures tied to Canada's main stock index rose on Tuesday, supported by crude prices, with a major focus on Bank of Nova Scotia's quarterly results that commences the earnings season for top domestic lenders.December futures on the S&P/TSX index were up 0.18% at 6:00 a.m. ET (11:00 GMT).Bank of Nova Scotia (BNS.TO), reported a higher fourth-quarter profit, as it set aside a smaller amount in rainy-day funds and earned more from interest.

Oil prices nudge higher ahead of OPEC+ meeting

LONDON, Dec 3 (Reuters) - Oil prices climbed nearly 1% on Tuesday, as investors hone in on the outcome of an OPEC+ meeting later this week.Brent crude futures rose 76 cents, or 1.06%, to $72.59 a barrel by 1131 GMT, while U.S. West Texas Intermediate crude climbed 75 cents, or 1.1%, to $68.85.

Canada's Scotiabank misses profit estimates on higher taxes, expenses

Dec 3 (Reuters) - Bank of Nova Scotia (BNS.TO),missed analysts' estimates for quarterly profit on Tuesday, hurt by higher taxes and elevated expenses related to compensation and technology.Adjusted profit rose 29% to C$2.12 billion ($1.51 billion). On a per share basis, the lender earned C$1.57, compared with analysts' expectations of C$1.60 per share, according to LSEG data.The quarter included impairment charges of C$379 million related to the lender's investment in China's Bank of X'ian and severance provisions, Canada's third largest bank said.

Fed's Williams eyes further cuts as price pressures cool further

NEW YORK, Dec 2 (Reuters) - Federal Reserve Bank of New York President John Williams said on Monday the U.S. central bank is likely to lower its interest rate target further over time as inflation pressures continue to cool.

Dec 02, 2024 - 4:44 PM

Fed's Waller says inclined at this point to cut rates in December

WASHINGTON, Dec 2 (Reuters) - Federal Reserve Governor Christopher Waller said on Monday he was inclined to cut the benchmark interest rate at the Dec. 17-18 meeting as monetary policy remained restrictive enough to keep putting downward pressure on inflation, while the labor market was roughly in balance, something the Fed wants to maintain.

Dec 02, 2024 - 4:17 PM

Indigenous mining complicates Brazil’s fight against illegal gold

The involvement of Indigenous people in illegal gold hunting, lured by the prospect of easy money due to record prices, has made Brazil’s task of cracking down on wildcat mining in the Amazon far harder, environmental agents and police say.The Munduruku territory, a reservation the size of Switzerland on the Tapajos river, a major Amazon tributary, has become a hot spot for illegal mining, which Brazilian law bans on Indigenous land.But increasingly, Munduruku tribe members are entering the illegal trade that is backed by organized crime.

Dec 02, 2024 - 3:14 PM

FTSE 100 closes at six-week high as sterling slides

Dec 2 (Reuters) - The UK's FTSE 100 touched a six-week closing high on Monday, extending November's modest gains, as a slide in sterling supported shares of international firms.The blue-chip FTSE 100 (.FTSE), rose 0.3% to its strongest close since Oct. 21. The index clocked a 2.2% gain in November.The pound slid 0.8% against the dollar, helping big firms such as Unilever (ULVR.L), HSBC (HSBA.L), and Anglo American (AAL.L), which draw a large part of their revenue in dollars.

Dec 02, 2024 - 3:03 PM

S&P 500, Nasdaq advance on tech boost at start of data-heavy week

Dec 2 (Reuters) - The S&P 500 and the Nasdaq gained on Monday, with the benchmark index briefly hitting an all-time high boosted by technology stocks, while investor focus remained on a slew of economic data this week.The week's centerpiece would be the November nonfarm payrolls report due on Friday, a key metric in also gauging the state of the labor market.Jay Woods, chief global strategist at Freedom Capital Markets, noted that an in-line reading should keep the Federal Reserve on track to cut interest rates by 25-basis-points when it meets later this month.

Dec 02, 2024 - 1:16 PM

Indonesia to review compliance in move that could affect mine output

Indonesia will check miners’ compliance with environmental rules and other regulations and “reexamine” production quotas for those found to be in breach, a senior mining official said on Friday, amid efforts to ensure the sustainability of its reserves.Indonesia’s vast natural resources include copper, gold, tin and nickel, and miners are granted annual production quotas under a document known as an RKAB, which is valid for three years.

Dec 02, 2024 - 11:39 AM

Gold drops as dollar strength sours four-session rally; Fed in focus

Dec 2 (Reuters) - Gold prices slipped on Monday, snapping a four-day winning streak, as the U.S. dollar staged a sharp rally and investors braced for pivotal economic data and Federal Reserve insights on the path of interest rates.Spot gold was down 0.3% at $2,646.50 per ounce as of 10:09 a.m. ET (1509 GMT), having fallen as much as 1% earlier in the day. U.S. gold futures dropped 0.4% to $2,670.

Dec 02, 2024 - 11:20 AM

World shares mixed, dollar gains versus Euro amid French political drama

BOSTON/LONDON, Dec 2 (Reuters) - Stocks in the U.S. and Europe gyrated on Monday after France's far-right and left-wing parties said they will vote for a no-confidence motion against Prime Minister Michel Barnier, a move that is likely to cause the French government to collapse later this week.French equities (.FCHI), fell about 0.6% while broader European shares (.STOXX), pulled back on the news, last up about 0.3% on the day.

Dec 02, 2024 - 11:15 AM

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