Author: Lucas

Oct 28 – What matters in U.S. and global markets todayBy Mike Dolan, opens new tab, Editor-At-Large, Finance and Markets Sign up here.As U.S. stock indexes hit new records on Monday ahead of a likely Federal Reserve interest rate cut and megacap earnings later this week, gold’s retreat deepened – extending back below $4,000 per ounce and now down more than 10% from this month’s peak.I’ll get into all the market-moving news below.In today’s column, I discuss the possible end to the Fed’s balance sheet rundown at this week’s policy meeting and whether it matters more broadly beyond the runes…

Co-Diagnostics, Inc. (NASDAQ:CODX) shares plunged over 50% on Tuesday after the company announced a $7 million direct offering and a new Saudi-based joint venture. The selloff suggested investors were more focused on the prospect of near-term dilution than the company’s longer-term global expansion plans.The company stated that it entered into a securities purchase agreement with institutional investors to sell 12.7 million shares of common stock, or equivalent pre-funded warrants, for 55 cents per share. Also Read: Co-Diagnostics Stock Plunges 28% In Pre-Market Despite Strategic Saudi PartnershipGross proceeds are expected to total about $7 million before fees and expenses. Funds will…

Secretary of Transportation Sean Duffy told “Fox & Friends” on Tuesday that “today is the first day” that air traffic controllers “don’t get any money” as a result of the government shutdown.  “The first day is hard, but the second day is even harder than that. And the third day. Because they have gas, they have childcare costs,” he said. “I had one controller tell me, ‘my 10-year-old daughter made the traveling volleyball team, and it cost hundreds of dollars. I had to tell her I couldn’t pay the money because I don’t have a check coming in. I have to…

The biggest issue souring US-Hungary relations is oil.In 2024, Hungary even increased the amount of oil it receives through the Druzhba (Friendship) pipeline from Russia. On 23 October, just as Orban was addressing a rally of his supporters in front of Parliament in Budapest, the US announced sanctions on the two giant Russian oil companies, Lukoil and Rosneft.Hungary received 64% of its oil through the Friendship pipeline from Russia, via Belarus and Ukraine, in 2020. By 2024 that figure stood at 80%, or 5 million tonnes a year.The Hungarian government argues that land-based pipelines are the cheapest way to receive…

Investors with a lot of money to spend have taken a bearish stance on Hecla Mining (NYSE:HL).And retail traders should know.We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with HL, it often means somebody knows something is about to happen.Today, Benzinga’s options scanner spotted 15 options trades for Hecla Mining.This isn’t normal.The overall sentiment of these big-money traders is split between 40% bullish and 53%, bearish.Out of all of the options we…

Tungsten concentrate from the Montana site could be supplied to companies such as Global Tungsten & Powders, Kennametal and Buffalo Tungsten. Credit: Bjoern Wylezich/Shutterstock.com. Toronto-based Almonty Industries has agreed to acquire a tungsten project in Montana and intends to transform it into the first US mine in ten years to produce tungsten, a metal essential for weapons and semiconductors.   The tungsten project, previously managed by Union Carbide, will be purchased using a combination of stock and cash, reported Bloomberg.   Discover B2B Marketing That Performs Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.…

The auto insurance world is rife with misconceptions, experts say, and not knowing fact from fiction could end up costing drivers thousands of dollars. There are several reasons why insurance myths exist, said Steven Harris, licensed insurance broker and LowestRates.ca expert.“(Insurance contracts) are written in legal terms and it doesn’t always translate into everyday language,” he said.“There can be a little barrier there.”Harris said people also often assume they’ll be covered against various damages or liabilities, but don’t necessarily know or understand exactly what’s in the policy.A lot of people draw upon personal experiences of friends and family and make…

What is a succession certificate? A succession certificate is a document issued by a court authorising the heirs of a deceased person to recover debts, securities, or financial dues from banks, … Source link

This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersWelcome to Energy Source, coming to you from New York. Donald Trump arrived in Tokyo on Monday and praised the “great friendship” between the US and Japan before his talks with the country’s prime minister. But all eyes will be on the US president’s summit with Chinese leader Xi Jinping later this week as he is expected to discuss China’s export controls on rare earths…

Gold’s meteoric rise over the last few years has prompted fresh debate about whether the rally has further to run. Sankaran Naren, Chief Investment Officer at ICICI Prudential AMC — which oversees roughly ₹10 lakh crore of assets, he said on a recent podcast — delivered a blunt verdict: for long-term investors, “the time to invest in gold and silver is gone.” “Gold and silver have become one of the most dangerous asset classes if I take a long-term view,” Naren told hosts, emphasising that past momentum is not always a reason to keep buying. His comments cut against a…