ADVERTISEMENT
When Glencore Plc proposed a combination with Rio Tinto Group a decade ago, the larger company turned it down after just a few days. News this week that the two spent several months in negotiations in the second half of last year shows how the sands have shifted, just as mega-deal fever sweeps the global mining industry.
In the euphoric markets of 2024, the biggest sin was skepticism. A white-hot runup in risky assets made life miserable for anyone buying into the frenzy of fresh products that Wall Street was hawking to hedge and diversify.
Rio Tinto Group and Glencore Plc have been discussing combining their businesses, according to people familiar with the matter, in what could result in the mining industry’s largest-ever deal.
Canada’s effort to push back against possible US tariffs is being undermined by Alberta Premier Danielle Smith’s pledge to fight federal plans to cut or tax crude exports to the US, Canada’s natural resources minister said.
Canada’s draft plan to retaliate against US tariffs may roll out in stages, with the government preparing to hit all American steel and aluminum products with counter-tariffs if necessary, said an official with knowledge of the matter.
There’s a truism in municipal debt: Bonds rarely move on natural disasters. That long-tested concept had held up until fires destroyed thousands of properties in Los Angeles last week.
The leader of Canada’s top oil-producing province vowed to fight federal efforts to cut or tax crude exports to the US as a tactic in a trade war with the incoming Trump administration.
US retail sales broadly advanced in December, indicating strong consumer demand to wrap up the holiday season.
BP Plc is eliminating 4,700 positions internally, about 5% of its workforce, and more than 3,000 contractor jobs, Chief Executive Officer Murray Auchincloss told staff on Thursday, as the London-based energy giant seeks to reduce costs.
President Joe Biden’s departing trade chief called President-elect Donald Trump’s idea of using revenue from tariffs to replace income taxes “very, very dangerous,” saying it would hurt lower-earning workers.
Canada has drawn up an initial list of C$150 billion ($105 billion) of US-manufactured items that it would hit with tariffs if President-elect Donald Trump decides to levy tariffs against Canadian goods, according to a person familiar with the matter.
New Zealand, Australian and US dairy companies are accusing Canada of dumping low-priced milk products on world markets and have asking their governments to intervene.
The rap artist Drake has sued Universal Music Group NV for defamation in US federal court, accusing the company of putting his life in danger by releasing and promoting a song by his rival and labelmate Kendrick Lamar.
Agrovision Corp., an agriculture company specializing in berries, is considering an initial public offering for as soon as June, according to people familiar with the matter.
Canada wants its allies to explore a pricing floor for critical minerals to address what it views as market interference from China, the dominant supplier of metals key to the energy transition.
Wall Street futures climbed as big US banks posted estimate-topping results and investors awaited a crucial inflation print that they hope will surprise to the downside.
