Financiers are grumbling that the U.S. is acting like an imperial power in punishing foreign banks for dealings beyond U.S. territory.» Read More
LONDON, July 29- On the surface at least, much has changed in the London Metal Exchange warehousing business over the past year. The exchange has much more work to do if it wants to rectify a delivery system that has ruptured relations with some of its users and generated a spate of lawsuits in the United States.
MELBOURNE/ LONDON/ RIO DE JANEIRO, July 24- After two years of shunning miners, investors are tiptoeing back into the sector on signs of growth perking up in China, company austerity measures paying off, and prices of nickel, copper and aluminum picking up as supply tightens.
SYDNEY, July 23- Brazil's BTG Pactual has received a green light from the London Metal Exchange to set up warehousing operations in Singapore, marking the investment bank's first foray into Asia as builds out its physical metals business.
BOGOTA, July 22- Mechanics at Colombia's largest coal mines will meet on Tuesday with contractor Dimantec and representatives from the labor ministry in an effort to negotiate an end to a 12- day strike. Dimantec provides mechanics to Colombia's biggest miners including joint-venture Cerrejon and U.S.-based Drummond Co.
Hedge funds piled into what seemed a one-way bet in early June, grabbing up oil contracts as the rapid advance of Islamist insurgents in northern Iraq threatened supplies from OPEC's second-largest producer at the same time that peak summer demand was approaching.
LONDON, July 18- The world's top trading houses appear to be quickly turning into commodity finance banks, by lending billions of dollars to clients as a decades-long dominance of French banks shrinks.
LONDON, July 17- The world's top trading houses appear to be quickly turning into commodity finance banks, by lending billions of dollars to clients as a decades-long dominance of French banks shrinks.
-BP obtained a 19.75 percent stake in the Kremlin-controlled company as part of a deal that saw the British firm sell Rosneft its stake in the Anglo-Russian oil producer TNK-BP for $55 billion last year. BP's head Robert Dudley, a U.S. citizen, sits on Rosneft's board.
LONDON, July 17- The legal battle between the London Metal Exchange and Russian aluminum giant Rusal will resume on July 29. There are currently 2,915,100 tonnes of the stuff waiting for a physical delivery slot in the LME warehouse system, most of it at just two locations; Vlissingen in the Netherlands and Detroit in the United States.
WASHINGTON/ MOSCOW, July 16- President Barack Obama imposed the toughest U.S. sanctions yet on Russia, striking at the heart of Vladimir Putin's powerbase by targeting companies closest to him over what Washington says is Moscow's failure to curb violence in Ukraine.
NEW YORK, July 17- President Barack Obama aimed a direct blow at Russia's economic heart on Wednesday with sanctions on Rosneft, the flagship oil giant that generates more than 4 percent of the world's crude and over 8 percent of the country's GDP.
WASHINGTON, July 16- President Barack Obama imposed the biggest package of U.S. economic sanctions yet on Russia on Wednesday, hitting Russia's largest oil producer Rosneft and other energy, financial and defense firms, with what he called significant but targeted penalties.
LONDON/ HONG KONG, July 13- Financiers may grumble that the United States is acting like an imperial power in punishing foreign banks for dealings far beyond U.S. territory, but in the end they are more likely to bow to Washington than kick against its dollar muscle.
PERTH, July 6- Six potential bidders, including Dutch commodity trader Trafigura and Hong Kong- listed MMG Ltd, are looking at the books of BHP Billiton's Australian nickel unit, the Australian Financial Review reported on Sunday, without saying where it got the information.
*Copper market seen tilting into deficit from 2016. Copper has lost almost a third of its value from a peak in 2011 due to a slowdown in top metals consumer China, which buys about 40 percent of global output. Copper miners' shares represented by the Thomson Reuters GFMS pure-play copper companies index fell by almost 40 percent over the same period.
SANTIAGO, July 2- Chile's northern regions were hit by a power outage on Wednesday, the nation's emergency office said, though it was not immediately clear if production at some of the area's massive copper mines was impacted.
MOSCOW, July 2- Russian gas producer Gazprom has replaced Alexander Medvedev as head of its exporting arm, Gazprom Export, with one of his deputies, Elena Burmistrova, in a surprise move.
MOSCOW, July 2- Russian oil producer Gazprom has replaced Alexander Medvedev as head of its exporting arm, Gazprom Export, with one of his deputies, Elena Burmistrova, as part of steps to increase its share in new and established markets.
LONDON, July 1- Zinc's on a roll again. On the London Metal Exchange three-month zinc has this week hit a 16- month high of $2,222 per tonne, eclipsing a first-quarter rally which stalled just shy of the $2,150 mark.
KHABAROVSK/ MOSCOW, Russia, June 27- Rosneft signed on Friday its second major agreement with BP since sanctions were imposed on the Russian oil company's chief executive, a close ally of President Vladimir Putin, over Russia's involvement in the Ukraine crisis.