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Gold eyes $2,000 mark in speedy record-breaking run

LONDON/BENGALURU (Reuters) – Gold’s record rally is moving tantalisingly close to the psychologically key $2,000 level, powered by investors seeking cover from COVID-19’s global economic toll, as reflected in dollar weakness, faltering stocks and U.S.-China tr... More »

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BMW to offer fully electric 5-series in emissions push

FRANKFURT (Reuters) – BMW (BMWG.DE) will offer a fully electric 5-series as part of sweeping product overhaul unveiled on Monday as the German carmaker seeks to lower vehicle emissions during production and on the road. “In ten years, the goal is to have a tot... More »

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Thyssenkrupp CEO: No taboos in steel consolidation plans

FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp’s CEO on Tuesday said there were no taboos in plans to consolidate its steel unit, marking a break with tradition under which the business had been sacrosanct for centuries. “Nothing is off-limits anymore,” Martin... More »

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Swiss gold refineries reopen as virus lockdown eases

LONDON (Reuters) – Two of the world’s biggest gold refiners, Valcambi and Argor-Heraeus, said on Monday they were restoring close to full operations after Swiss authorities relaxed coronavirus lockdown measures. The decisions end six weeks of partial or full c... More »

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Apple pushes recycling of iPhone with ‘Daisy’ robot

AUSTIN, Texas (Reuters) – Apple Inc APPL.O is trying to change the way electronics are recycled with a robot that disassembles its iPhone so that minerals can be recovered and reused, while acknowledging rising global demand for electronics means new mines wil... More »

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Burst of social unrest tests emerging market risk models

LONDON (Reuters) – A wave of social unrest across developing countries this year has caught many investors off-guard and is challenging models designed to gauge political risk for investors, prompting some to pull money out. That has led to worries that a with... More »

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Volvo, Geely to merge combustion engine operations

FRANKFURT (Reuters) – Volvo Cars will merge its engine development and manufacturing assets with those of parent Geely, creating a division to supply in-house brands Lotus, LEVC, Lynk and Proton, and also potential rivals with next-generation combustion and hy... More »

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At Harvard B-School, lessons for impact investors

NEW YORK (Reuters) – Harvard Business School is known for guiding the next generation of financial leaders through compelling case studies in management, innovation and global intelligence. Now the curriculum includes impact investing, which incorporates posit... More »

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WHO says no new Ebola cases in Goma, vaccinates over 1,300

GOMA (Reuters) – The World Health Organization said it has vaccinated over 1,300 people who potentially came into contact with the Ebola virus in the Congolese city of Goma, helping contain what many feared would be a rapid spread in an urban center. A year-lo... More »

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China May crude oil imports drop after April record

SINGAPORE/BEIJING (Reuters) – China’s crude oil imports slipped 8% in May from an all-time peak hit the month before, customs data showed, as the world’s top importer of the commodity curbed shipments from Iran amid tightening U.S. sanctions on that country. C... More »

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Russia wants to join Luxembourg in space mining

LUXEMBOURG (Reuters) – Russia, a leading producer of natural resources, plans to join Luxembourg in mining for minerals in outer space, Russian Deputy Prime Minister Tatyana Golikova said on Wednesday. Space mining has been the realm of science fiction, but a ... More »

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Tesla to unveil Model Y on March 14, says Musk

(Reuters) – Tesla Inc will unveil its Model Y on March 14 at an event in LA Design Studio, Chief Executive Elon Musk said on Sunday. “Model Y, being an SUV, is about 10 percent bigger than Model 3, so will cost about 10 percent more & have slightly less range ... More »

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African nations sense upper hand in minerals stand-off

CAPE TOWN (Reuters) – African nations with rich reserves of copper and cobalt needed for the shift to electric vehicles sense they have the upper hand in negotiations with mining companies that are struggling to secure better terms. Days of talks at the Mining... More »

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Carmaker Rolls-Royce urges May to avoid a hard Brexit

LONDON (Reuters) – Carmaker Rolls-Royce called on the British government to avoid a disorderly Brexit and said it was building up some stock, expanding warehouse capacity and training suppliers for customs changes in case Britain leaves the EU without a deal. ... More »

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Japan demands talks over Korean court’s Nippon Steel decision

TOKYO (Reuters) – Japan on Wednesday demanded talks with South Korea over a Korean court compensation award against a Japanese company for using forced laborers during World War Two, saying all such claims were settled decades ago. Ties between the Asian neigh... More »

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Factbox: Past Nasdaq bear markets lasted long and cut deep

(Reuters) – Get ready for a long and ugly ride. On Friday, the Nasdaq Composite .IXIC closed almost 22 percent below its record high daily close on Aug. 29, signaling a nearly nine-and-a-half year bull market run for the index ended in late summer. That cumula... More »

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Tesla shares drop on report that it asked suppliers for refunds

(Reuters) – Shares of Tesla Inc (TSLA.O) fell more than 4 percent in trading before the bell on Monday, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit. Tesla has asked ... More »

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Motor racing – Volkswagen electric car sets Pikes Peak record

(Reuters) – Volkswagen has shown off the sporty side of its electric technology by setting an all-time record in the annual Pikes Peak International Hill Climb in Colorado. Former Le Mans winner Romain Dumas took the I.D. R Pikes Peak prototype up in a time of... More »

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Businesses turn up heat on Mexican government over crime surge

MEXICO CITY (Reuters) – Mexican business leaders called out the government on Monday over a recent wave of criminal activity that has terrorized large swaths of Latin America’s second-largest economy and led some prominent firms to cut back operations. Two of ... More »

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China vows to open up more futures markets as iron ore goes…

DALIAN/MANILA (Reuters) – China plans to open more of its futures contracts to foreign investors, a senior official said on Friday, as Beijing launched its “internationalised” iron ore contract as part of a bid to boost its sway over pricing of major commodity... More »

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Trade war backfire: Steel tariff shrapnel hits U.S. farmers

KANE COUNTY, Ill. (Reuters) – Lucas Strom, who runs a century-old family farm in rural Illinois, canceled an order to buy a new $71,000 grain storage bin last month – after the seller raised the price 5 percent in a day. The reason: steel prices jumped right a... More »

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Activist investor Barington nominates two directors at Xerium

BOSTON (Reuters) – Activist investor Barington Capital Group LP has launched a fight for two board seats at machine industry company Xerium Technologies Inc., according to a regulatory filing made on Thursday. The New York-based hedge fund, which owns 5.05 per... More »

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Chinese aviation buff builds full-scale Airbus replica

KAIYUAN, China (Reuters) – A man in northeastern China who always wanted to own an aircraft is doing the next best thing: building a full-scale replica of an Airbus A320 jet. Zhu Yue, an aviation buff who worked as a welder and an auto mechanic, spent months s... More »

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Russian billionaire Potanin buys 2 percent of Nornickel from…

MOSCOW (Reuters) – Russian billionaire Vladimir Potanin’s Interros Holding said it had completed the purchase from businessman Roman Abramovich of a 2 percent stake in Norilsk Nickel, which has been the subject of a legal battle. Abramovich struck a provisiona... More »

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Trump trade adviser sees business exemptions for new tariffs

U.S. President Donald Trump listens to reporters as walks with first lady Melania Trump on South Lawn of the White House upon their return to Washington, U.S., from Palm Beach, Florida, March 3, 2018. REUTERS/Yuri Gripas WASHINGTON (Reuters) – A top trade advi... More »

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UK PM May tells Trump of ‘deep concern’ over metals tariffs

Britain’s Prime Minister Theresa May talks to Andrew Marr for the Marr Show on BBC television in London, Britain March 2, 2018. Picture taken March 2, 2018. Jeff Overs/BBC/Handout via REUTERS LONDON (Reuters) – British Prime Minister Theresa May told U.S. Pres... More »

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As NAFTA weighs, Trump’s tariffs drive new U.S. auto concerns

U.S. President Donald Trump waves upon his arrival in West Palm Beach, Florida, U.S., March 2, 2018. REUTERS/Kevin Lamarque MEXICO CITY (Reuters) – From a hotel in Mexico City, Ann Wilson, a senior executive at the U.S. Motor and Equipment Manufacturers Associ... More »

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NAFTA talks on autos eyed for next week: Mexico negotiator

Mexico’s chief negotiator Kenneth Smith speaks to journalists at the hotel where the seventh round of NAFTA talks takes place, in Mexico City, Mexico March 2, 2018. REUTERS/Edgard Garrido MEXICO CITY (Reuters) – U.S., Mexican and Canadian trade experts leading... More »

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Businesses try to coax Trump from tariffs brink, aides quarrel

U.S. President Donald Trump holds a meeting where he announced that the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum at the White House in Washington, U.S., March 1, 2018. REUTERS/Kevin Lamarque WASHINGTO... More »

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The financial impact of Trump’s tariffs on steel and aluminum

DETROIT (Reuters) – If U.S. President Donald Trump goes ahead with sweeping tariffs on steel and aluminum imports, it could lower profits for companies making everything from pickup trucks to canned soup, or result in higher prices for consumers. Trump has thr... More »

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Trump’s steel shock drives wedge into sluggish NAFTA talks

U.S. Chief Negotiator John Melle smiles at the hotel where the seventh round of NAFTA talks takes place, in Mexico City, Mexico, March 1, 2018. REUTERS/Edgard Garrido MEXICO CITY (Reuters) – Negotiators trying to rework the NAFTA trade deal on Thursday were hi... More »

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Spooked by Trump tariffs, investors see few good options

FILE PHOTO: A trader walks the floor of the New York Stock Exchange in New York, U.S., February 6, 2018. REUTERS/Brendan Mcdermid SAN FRANCISCO (Reuters) – The specter of a trade war started by U.S. President Donald Trump rattled Wall Street on Thursday and ex... More »

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China puts responsibility for battery recycling on makers of…

FILE PHOTO: Batteries for electric vehicles are manufactured at a factory in Dongguan, China on September 20, 2017. REUTERS/Bobby Yip/File Photo SHANGHAI (Reuters) – China will make manufacturers of electric vehicles (EV) responsible for setting up facilities ... More »

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Nippon Steel worries about U.S. trade action, yen’s surge

FILE PHOTO: A logo of Nippon Steel & Sumitomo Metal Corp is pictured outside its headquarters in Tokyo November 9, 2012. REUTERS/Yuriko Nakao/File Photo TOKYO (Reuters) – Nippon Steel & Sumitomo Metal Corp (5401.T), Japan’s biggest steelmaker, is worried that ... More »

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As mining investors push caution, Glencore differs from rivals

FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, November 20, 2012. REUTERS/Arnd Wiegmann/File Photo TORONTO/MELBOURNE (Reuters) – As shareholders push the world’s cash-rich miners to ... More »

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Israeli archaeologists unearth 1,800-year-old mosaic

A decoration of a figure is seen on a mosaic floor which archaeologists say is 1,800 years old and was unearthed during an Israel Antiquities Authority excavation in Caesarea, Israel February 8, 2018. REUTERS/Nir Elias CAESAREA, Israel (Reuters) – A 1,800-year... More »

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German car production stalled by 24-hour strikes

BMW workers during a 24-hour strike by German industrial trade union IG Metall in Berlin, Germany, February 2, 2018. Placard reads “6% more, we find fair”. REUTERS/Christian Mang FRANKFURT (Reuters) – Car factories across Germany were at a standstill on Friday... More »

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Blockchain to track Congo’s cobalt from mine to mobile

FILE PHOTO: Part of Tilwizembe, a former industrial copper-cobalt mine now occupied by artisanal miners, is seen outside Kolwezi, the capital city of Lualaba Province in the south of Democratic Republic of Congo, June 11, 2016. REUTERS/Aaron Ross/File Photo LO... More »