Significant deposits of rare earth metals have been found in both Norway and Sweden. Norway Rare Earths Norway (REN) has announced the discovery of the largest deposit of rare earth elements in Europe at the Fen Carbonatite Complex in southeastern Norway. The deposit reportedly contains 8.8 million metric tons ofRead More →
In a significant development that may affect the electric vehicle (EV) market, the European Union (EU) has tentatively agreed to levy tariffs on Chinese EV manufacturers. This decision reportedly follows an inquiry into the surge of inexpensive, government-subsidized Chinese vehicles entering the EU market. From 4th July 2024, Chinese EVRead More →
The shimmering appeal of gold has enchanted humans for ages, yet beneath its radiant exterior, miners face escalating challenges. According to the World Gold Council, the gold mining sector is finding it increasingly difficult to maintain production growth as the reserves of this precious metal become scarcer. Depletion Discovering newRead More →
The demand for diamonds has declined as its allure fades in a key consumer market, China. “Diamonds don’t really fit in anymore despite the strong legacy of De Beers under Anglo,” independent diamond industry analyst Paul Zimnisky reportedly said. According to Zimnisky’s rough diamond index, diamond prices have decreased byRead More →
This expansion occurs as the European Union investigates subsidies provided to Chinese electric vehicle manufacturers, a situation that may lead to the imposition of tariffs. In May 2024 Nio opened a new EV showroom in Amsterdam, while Xpeng introduced its G9 and G6 sports utility vehicles in France. Over theRead More →
Leading technology companies, such as Microsoft, Amazon, and OpenAI, have united under a significant international accord for artificial intelligence (AI) safety measures, established at the Seoul AI Safety Summit on Tuesday 21st May 2024. Following the agreement, firms from various nations, including the UK, China, Canada, the U.S., France, SouthRead More →
The breach involved a third-party payroll system used by the MoD The compromised system contained names and bank details of both current and past members of the UK armed forces. While the full extent and consequences of the breach are still under investigation, preliminary results reportedly indicate that no data was extracted during the incident.Read More →
Cryptocurrency Exchange Traded Funds (ETFs) have been issued by three Chinese companies: Bosera Asset Management, China Asset Management and Harvest Global Investments, all on the Hong Kong exchange. These are the first ETFs to be issued in Asia. ETFs enable investors to gain exposure to the price movements of theRead More →
The International Monetary Fund calculates that Russia’s economy will expand more rapidly than all advanced economies this year. According to the latest World Economic Outlook released by the IMF, Russia’s economy is projected to expand by 3.2% in 2024. This growth outpaces the anticipated growth rates for the U.S. atRead More →
The company intends to reduce its global workforce by over 10%, amounting to roughly 14,000 employees As of December, Tesla had a total of 140,473 employees worldwide. This decision is believed to be a response to the obstacles Tesla is encountering with slowing growth and operational effectiveness and cheaper competition. In anRead More →
Chinese EV manufacturers such as BYD and smartphone maker Xiaomi are starting to inflict some damage to Tesla’s EV market. Xiaomi has launched its first electric vehicle (EV) and started taking orders. The company reportedly announced that the standard SU7 model would be priced at 215,900 yuan ($29,872; £23,663), whileRead More →
Mumbai, India’s bustling financial hub, has achieved a remarkable milestone: it now reigns as Asia’s billionaire capital, surpassing Beijing for the first time According to the Hurun Research Institute’s global rich list, Mumbai boasts 92 billionaires with a combined wealth of $445 billion. This historic feat marks the first time that India’s most populous cityRead More →
The EV named ‘Seagull’ sub $10,000 price tag. This vehicle will likely take-off! Global automakers are becoming increasingly concerned that Chinese competitors, such as the Warren Buffett-endorsed BYD, might saturate their EV market with cheaper EVs, potentially undermining local production and reducing vehicle prices. Concerns have been raised that thisRead More →
The U.S. has reportedly initiated a significant lawsuit against Apple, alleging that the technology giant has monopolised the smartphone market and stifled competition. The Justice Department claims that Apple has misused its dominance over the iPhone App Store to ‘lock in’ customers and developers. The company is also accused ofRead More →
Gold futures for April settled at $2126 per ounce, the highest-level going back to the *contract’s creation in 1974. Analysts suggest that, adjusting for inflation, gold set an all-time high of approximately $3200 in 1980 and bodes well for big gold increases to come in the future. Why is goldRead More →
See-through screens, phones that wrap around your wrist, expandable displays and smart rings – just some of the products on display at the Mobile World Congress in Barcelona Samsung ring Samsung’s Galaxy Ring, its latest wearable, is launching with health-tracking features including heart rate and sleep monitoring. These are allRead More →
Japan’s Nikkei 225 index hit a new all-time high on Monday 26th February 2024. In contrast China markets slipped after a nine-day winning streak. The Nikkei 225 ended 0.4% higher at 39233 comfortably above its previous closing record of 39,098.68. The index breached its 1989 all-time high of 38915 on ThursdayRead More →
A U.S. company has gone to the moon – and creates a little piece of history Intuitive Machines’ Nova-C cargo lander, named ‘Odysseus’ after the mythological Greek hero, is the first U.S. spacecraft to soft land on the lunar surface since 1972. Japan, India and China have all had recentRead More →
The Magnificent Seven, or MAMA ANT, is a term coined by Bank of America to describe the seven most dominant tech companies in the world The Seven are: Microsoft, Amazon, Meta Platforms, Apple, Nvidia, Tesla, and Alphabet. These companies have not only led the tech sector in terms of innovation,Read More →
It was a good day of earnings for Big Tech companies. Three of the Magnificent 7 results dominated the headlines: Meta, Amazon and Apple. Nasdaq and S&P 500 gained in ‘after the bell’ trading. This after a punishing day for Alphabet and Microsoft, despite good results. Nasdaq 100 closed at: 17344Read More →
Gold demand hit record highs in 2023 on the back of persistent geopolitical tensions and continued weakness in some world economies, particularly China according to the World Gold Council. Total gold demand stood at 4,899 tons in 2023 compared to 4,741 tons in 2022. Gold purchases from central banks ledRead More →
The highest coal using countries in the world These countries accounted for about 82% of the global coal production in 2021 according to 2021 data set. China alone produced more than half of the world’s coal, followed by India with nearly 10%. Global coal use in 2023 hits few high GlobalRead More →
European Union officials have reached a provisional deal on the world’s first comprehensive laws to regulate the use of artificial intelligence (AI). The EU agreed guidelines around AI in systems like ChatGPT and facial recognition. The European Parliament will vote on the AI Act proposals early next year, but anyRead More →
McDonald’s has announced its new restaurant idea, CosMc’s, which would operate in the same market section as Starbucks. Its pilot will open this month in a part of Chicago, with a plan to be in about ten locations by the end of 2024. The fast-food chain also plans to openRead More →
Some expect gold to above climb $2,500 Gold prices are on track to rally to all-time highs in 2024 on the back of interest rates increases, inflation fear, looming recessionary concerns and geo-political unrest. The precious metal is always sought after as a safe haven asset. The gold price hit aRead More →
Santa rally is a term that refers to the tendency of the stock market to rise in the last week of December and the first two days of January. This is not a guaranteed or consistent pattern, and it may depend on many and various factors that affect the marketRead More →