Author: News Room

Miner BHP Group (AX:) walked away from its $49 billion plan to take over rival Anglo American (JO:) on Wednesday after its last-ditch request for more time was rejected by the London-listed company, ending its six-week pursuit for the time being. Here is a timeline of the events that unfolded over the last six weeks.  * Feb 22: Anglo American announces a review of its assetsafter a 94% plunge in annual profit and writedowns at itsdiamond and nickel operations. * April 25: BHP Group discloses a bid of $39 billion forAnglo American, made on April 16, and proposes to spin…

US markets have had a rough week. The Dow has fallen more than 1,000 points over the last three days alone — and there’s no sign of the negative momentum letting up. The Dow opened lower by 367 points, or 0.9%, Thursday morning. The S&P 500 was down 0.2% and the Nasdaq Composite dropped 0.2% as lackluster earnings results from Salesforce (CRM) worried investors. Shares of the customer relationship management company fell 18% after it reported a revenue miss and lowered expectations for the year ahead. That comes after a bad Wednesday where all 11 sectors of the S&P 500…

Gold price falls as interest rates are expected to remain high, increasing the opportunity cost of holding Gold.  Fed speakers continue calling for a delay in lowering interest rates, Eurozone inflation is probably rising.  Gold breaks out of its Bear Flag pattern and starts declining towards its bearish targets.  Gold (XAU/USD) edges lower into the $2,330s on Thursday and finds support at the 50-day Simple Moving Average (SMA). Gold’s decline continues to be driven by higher global interest-rate expectations, which raise the opportunity cost of holding the non-yielding precious metal.  Gold pressured as interest rates to remain elevated  Gold has…

Eric Balchunas, a senior Bloomberg ETF analyst, has predicted that the launch of spot Ethereum ETFs could occur by late June. The latest forecast follows BlackRock’s recent amendment to its Form S-1 filing for the iShares Ethereum Trust, submitted to the Securities and Exchange Commission (SEC) on May 29. This update came nearly a week after the SEC approved BlackRock’s 19b-4 filing, both essential steps for the ETF to commence trading. “Good sign. [Probably] see rest roll in soon,” Balchunas stated in a May 29 X post. Balchunas indicated that there might be another round to “fine tune” SEC comments,…

Shares of Salesforce tumbled 19% Thursday morning, putting the stock on pace for its worst day since 2004.The drop comes after Salesforce on Wednesday reported fiscal first-quarter results that missed Wall Street’s estimates for revenue for the first time since 2006. It also gave lighter-than-expected guidance.The cloud software vendor said revenue for the period increased 11% to $9.13 billion, which was shy of the $9.17 billion expected by analysts, according to LSEG.Salesforce expects second-quarter adjusted earnings per share of $2.34 to $2.36 on $9.2 billion to $9.25 billion in revenue. Analysts surveyed by LSEG were expecting $2.40 in adjusted earnings per…

The pace of hiring remains strong for lower-earning Americans, holding steady above its pre-pandemic baseline even as the demand for higher-income workers has waned slightly, according to new data from Vanguard.The hires rate for the bottom third of workers by income (who earn less than $55,000 a year) was 1.5% in March, where it has largely hovered since September 2023, according to a new Vanguard analysis.More from Personal Finance:A.I. on a collision course with white-collar, high-paid jobsSome jobs still seeing relatively big annual raisesHow to spot and overcome ‘ghost’ jobsThe hires rate gauges the number of new hires as a…

US Secretary of State Antony Blinken said Wednesday that Israel must decide if its military campaign in Gaza is worth the cost in civilian lives. Coming just days after an Israeli strike killed dozens of displaced Palestinians in Rafah, Blinken said Israel should ask itself whether “incremental gains” against Hamas “stack up against” the “unintended horrific” consequences of military action. Israel “has to ask whether, and especially in the absence of a plan for the day after in Gaza, further incremental gains against Hamas, but gains that may not be durable, in terms of Hamas’s defeat, in the absence of the plan, how that stacks up against some of the,…

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Following Burnley and Sheffield United’s relegation, and Leeds United’s loss to Southampton in the playoff final, the 2024/25 Premier League season will have just five teams from the North of England. That’s the fewest representatives from the North since the league’s rebranding in 1992. The 2024/25 season will feature four clubs from the North-West of England and just one club, Newcastle United, from the North-East and Yorkshire. In contrast, there are seven clubs from London and four from the South and South-East of England, including East Anglia. The remaining four clubs are from the Midlands. In previous Premier League seasons,…

This as-told-to essay is based on a conversation with an organizer involved with Congressional Staff for a Ceasefire Now, a group of Capitol Hill staffers pressuring lawmakers to support a cease-fire in Gaza. The staffer has been granted anonymity in order to speak freely without fear of retaliation from their office. This essay has been edited for length and clarity.At the end of October, when we saw how Israel was beginning to conduct its war in Gaza, I and several other staffers on Capitol Hill were really, really concerned.We had heard from thousands upon thousands of constituents who were writing…