Articles by admin

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(Bloomberg) — Barrick Gold Corp.’s top executive says the gold industry needs more consolidation so it can increase exploration to boost depleting reserves, lure more generalist investors and improve efficiencies.The flurry of deals that characterized the sector in the past two years will likely continue, with miners in Australia already “stamping their mark” on the industry, Chief Executive Officer Mark Bristow said in a virtual South African mining conference. Mergers and acquisitions are likely to dominate the sector in Africa, and are needed in Canada, where the world’s second-largest gold miner is based.“The industry still needs further consolidation,” Bristow said …read more […]

British Airways will bid farewell to its final London-based Boeing 747s on Thursday with a rare synchronised dual take off for the “Queen of the Skies”, the jet which brought long-haul flights to the masses. Once the world’s largest operator of the 747, BA has now retired its entire jumbo jet fleet after the COVID-19 pandemic curtailed most air travel, accelerating the move to more fuel-efficient planes. Chief Executive Alex Cruz said it would “be a difficult day for everybody at British Airways as the aircraft leaves our home at Heathrow for the very last time.” …read more […]

(Bloomberg) — Taiwan Semiconductor Manufacturing Co. reported a stronger-than-expected 22% rise in quarterly sales, buoyed by orders from its largest customers including Apple Inc.The world’s largest contract chipmaker saw revenue for the three months to September climb to a record NT$356.4 billion ($12.4 billion), up from NT$293 billion a year earlier, according to Bloomberg calculations based on monthly sales data disclosed by TSMC. The average forecast of analysts was for revenue of NT$337.2 billion.TSMC in July raised its 2020 outlook, saying that revenue this year will grow by more than 20% in dollar terms. Sales for the first nine months …read more […]

An owner of a Model 3 vehicle made by Tesla Inc (NASDAQ: TSLA) said that he accidentally purchased a $4,280 software upgrade for the sedan due to butt dialing and couldn’t get the automaker to issue a refund.What Happened: The Model 3 owner Ali Vaziri noticed he had accidentally purchased the self-driving feature after being notified by his bank on Sept. 24, CNBC reported Wednesday.Vaziri had a credit card link to the Tesla app to pay monthly fees for “premium connectivity,” but he otherwise never made — or, intended to make — a purchase in the app. He only noticed …read more […]

(Bloomberg) — The Trump administration’s potential restrictions on two Chinese payments giants would reverberate far beyond politics, potentially affecting multibillion-dollar deals, shaking up international commerce and even shaping the evolution of the global financial system.U.S. officials have stepped up behind-the-scenes talks in recent weeks about possibly restricting the expansion of Ant Group’s Alipay and Tencent Holdings Ltd.’s WeChat Pay over concerns that the digital payment platforms threaten national security, Bloomberg reported on Wednesday.If the administration proceeds, the most immediate hit would be to Ant Group’s plan for a stock listing in Shanghai and Hong Kong, a deal that could rank …read more […]

(Bloomberg) — The Trump administration is exploring restrictions on billionaire Jack Ma’s Ant Group as well as Tencent Holdings Ltd. over concerns that their digital payment platforms threaten U.S. national security, according to people familiar with the matter, a move that risks infuriating China and disrupting what could be the world’s largest initial public offering.Debate over how and whether to restrict Ant Group’s and Tencent’s payment systems has accelerated among senior U.S. officials in recent weeks though a final decision isn’t imminent, said the people, who spoke on condition of anonymity about an idea that’s still taking shape.U.S. officials are …read more […]

GoPro Inc (NASDAQ: GPRO) shares surged about 31.9% in Wednesday’s regular and after-market sessions as the adventure camera maker said there was “high demand” for its Hero9 Black product.What Happened: The demand for Hero9 Black has increased the number of GoPro subscribers to more than 500,000, GoPro said in a statement.”Our paid GoPro subscriber count is ahead of where we expected to be at this time and bodes well for us to exceed our previously-stated target of 600,000 to 700,000 paid subscribers by year-end,” said GoPro CEO Nicholas Woodman.GoPro said the vast majority of consumers buying the new $350 camera …read more […]

The U.S. electric carmaker plans to manufacture a new version of its Model Y crossover vehicle, and possibly even battery cells at the site. Last month, Musk said that Tesla will use its Germany-based plant to demonstrate a radical overhaul of how its cars are built. The company plans to start the production of Model Y at Gigafactory Berlin during the second half of 2021. …read more […]

/NOT FOR DISSEMINATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATES OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA./ VANCOUVER, BC, Oct. …read more […]

We are now into 2020’s final quarter and signs the aviation industry’s miserable year might be on the cusp of a turnaround are few and far between. On Tuesday, A&D giant Boeing (BA) reduced its long-term forecast for commercial jet demand. Specifically, Boeing cut its demand expectations by 11% from 2019’s forecast, estimating that over the next decade, it will now deliver 18,350 commercial airplanes.The latest news adds to an ever-expanding list of setbacks this year. 2020 has witnessed cancelations on the deliveries of its commercial aircrafts, woeful earnings, reports of 787 Dreamliner manufacturing issues and a damning verdict by …read more […]

(Bloomberg) — Citigroup Inc. will pay a $400 million U.S. penalty and must seek the government’s sign-off for major acquisitions after regulators chided the bank for several persistent problems with its risk controls.Citigroup was fined by the Office of the Comptroller of the Currency for what the agency called an ongoing “failure to establish effective risk management and data governance programs and internal controls,” according to a Wednesday statement. The OCC also demanded that Citigroup seek its approval before “significant new acquisitions” and reserved the right to require changes in senior management if the company doesn’t act quickly to address …read more […]

On Tuesday, Apple (AAPL) sent out invitations for an October 13 event named “Hi, Speed,” keeping the happening’s content under wraps. However, it is not hard to deduce from its name that Apple is alluding to the performance expected from its flagship product – the next gen iPhone 12, Apple’s first handset to boast 5G capabilities – and will therefore announce the product’s launch at the event.Reading between the lines, Deutsche Bank analyst Jeriel Ong arrives at the same conclusion. Although the analyst adds it “remains somewhat speculative when exactly iPhones will be available for sale after this event,” …read more […]

Hedging…
Literally every homeowner hedges.
Every auto driver hedges.
But when it comes to the markets, few traders hedge at all.
And even fewer traders hedge correctly.
Today, I outline exactly how to properly hedge – and how it can save you thousands upon thousands in possible damages.
Check it out below…

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Patients are asking to join clinical trials of antibody-based COVID-19 drugs after U.S. President Donald Trump was treated last week with an experimental therapy from Regeneron Pharmaceuticals Inc, and on Wednesday he promised to make it free to Americans while touting its benefits. Trump was discharged from the hospital late on Monday, just a few days after being diagnosed with COVID-19 that caused enough lung inflammation for blood oxygen levels to fall. According to his doctor, blood tests on Monday detected infection-fighting antibodies, which a Regeneron spokesperson said were probably from the treatment. …read more […]