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Top News & Analysis Phoenix

  • JAKARTA/ TORONTO, Feb 10- Freeport-McMoRan Inc said on Friday an export ban remains in place on its copper mine in Indonesia, the world's second-biggest, because it has not yet reached agreement with the government on a new mining permit. The southeast Asian country banned copper concentrate exports Jan. 12 to try and boost the local smelter industry.

  • JAKARTA, Feb 10- Indonesia has issued a new mining permit for the local unit of Freeport McMoRan Inc, government officials said on Friday, signaling the possible end to a month-long suspension of exports from the world's second-biggest copper mine. Indonesia halted Freeport's exports of copper concentrate on Jan. 12, a suspension Freeport said would reduce...

  • NEW YORK, Feb 6- Two men were sentenced to lengthy U.S. prison terms on Monday for conspiring to launder $250 million earned by manipulating shares of over 40 companies, including little-known Cynk Technology Corp, whose value soared past $6 billion. Glasser imposed a six-year prison sentence on Robert Bandfield, a U.S. citizen living in Belize who prosecutors...

  • TORONTO, Feb 3- Freeport-McMoRan Inc, the world's biggest publicly-listed copper miner, said on Friday it will cut staff, spending and production in Indonesia if it does not get a new export permit by mid-February, amplifying a warning it made last week. The Phoenix- based miner said it continues to work with the Indonesian government to resolve issues after...

  • TORONTO, Feb 3- Freeport-McMoRan Inc, the world's biggest public-listed copper miner, said on Friday it will need to cut staff and development spending in Indonesia if the government there continues to delay export approval of its copper concentrates. The Phoenix- based miner said it has the right to export copper concentrate from its Grasberg mine without...

  • TORONTO, Feb 3- Freeport-McMoRan Inc, the world's biggest public-listed copper miner, said on Friday it will need to cut staff and development spending in Indonesia if the government continues to delay export approval of its copper concentrates. The Phoenix, Arizona- based miner said it had the right to export copper concentrate without restriction or export...

  • Jan 25- Freeport-McMoRan Inc, the world's biggest publicly-listed copper miner, warned on Wednesday that it would need to start slashing output and jobs at its Indonesia mine by mid-February if it fails to get an export permit from the government. The Phoenix, Arizona- based miner also reported weaker-than-expected fourth-quarter earnings and cut its 2017...

  • Jan 25- U.S.-based miner Freeport-McMoRan Inc reported weaker-than-expected fourth-quarter earnings on Wednesday and warned that it may need to cut output and jobs at its mine in Indonesia if it can't secure a permit to export copper concentrates. Freeport's exports of copper concentrate from Indonesia have been halted since Jan. 12 when a ban on shipping...

  • Freeport is being helped by higher prices for both metals but its copper business has been dented recently by a ban on exports of copper concentrates in Indonesia, where the company owns and operates the giant Grasberg gold-copper mine. The company's exports of copper concentrate from Indonesia have been halted since Jan. 12 when a ban on shipping unprocessed...

  • JAKARTA, Jan 10- Indonesia will issue new rules for miners this week, the mining minister said late on Tuesday, which will cover contracts and permits, exports, taxes, divestment obligations and domestic processing requirements, among other issues. Indonesia announced in 2014 a ban on ore shipments to push miners to build smelters to process ore locally, but gave...

  • *Fred's higher after Alden Global Capital reports stake. Dec 23- Wall Street ended the week on a positive note on Friday as investors doubled down on a rally fueled by optimism that President-elect Donald Trump's policies will boost economic growth. We can do it, but it's going to take a catalyst to move investors, "said Jeff Kravetz, a Phoenix- based regional...

  • *Wall Street stocks little moved in thin trading. *Wall Street stocks rise for the week, Dow still below 20,000. NEW YORK, Dec 23- Key stock indexes around the world were little changed on Friday, as were the U.S. dollar and U.S.

  • *Fred's higher after Alden Global Capital reports stake. Dec 23- Wall Street was flat on Friday as investors refrained from making big bets ahead of the holiday season, but the three major indexes were still on track to post weekly gains. We can do it, but it's going to take a catalyst to move investors, "said Jeff Kravetz, a Phoenix- based regional investment director of...

  • PHOENIX, Dec 5- Any effect of President-elect Donald Trump's policies on the broader economy likely won't be felt for more than a year, St. Louis Fed President James Bullard said on Monday, likely giving the U.S. central bank time to assess before changing its policy outlook. An interest rate increase in December seems "reasonable," Bullard said during an event in...

  • PHOENIX, Dec 5- Federal Reserve officials cautioned on Monday that the incoming Trump administration's economic plans should not be cast as if the economy is in crisis, but instead be designed to help the economy's long-run prospects. Louis Fed President James Bullard said in remarks in Phoenix at a luncheon sponsored by Arizona State University.

  • PHOENIX, Dec 5- The policies outlined by President-elect Donald Trump could boost the U.S. economy if they improve productivity, St. Louis Federal Reserve President James Bullard said on Monday. In remarks prepared for delivery at an event in Phoenix sponsored by Arizona State University, Bullard said it is too early to tell if the policies expected from the...

  • NEW YORK- Federal Reserve Bank of New York President William Dudley speaks on the macroeconomic outlook and what it means for New York before the Association for a Better New York- 1330 GMT. PHOENIX- Federal Reserve Bank of St. Louis President James Bullard gives a presentation on the U.S. economy and monetary policy before the 53rd annual Economic Forecast...

  • NEW YORK- Federal Reserve Bank of New York President William Dudley participates in panel on "Financial Regulation Nine Years on from the GFC-- Where Do We Stand?" PRAGUE- European socialist leaders including UK Labour Party leader Jeremy Corbyn, German Vice Chancellor Sigmar Gabriel, Member of the European Parliament Sergei Stanishev, Slovakia Prime Minister...

  • PRAGUE- European socialist leaders including UK Labour Party leader Jeremy Corbyn, German Vice Chancellor Sigmar Gabriel, Member of the European Parliament Sergei Stanishev, Slovakia Prime Minister Robert Fico and Czech Republic Prime Minister Bohuslav Sobotka hold a meeting in Prague- 1730 GMT. TOKYO- Asian Development Bank Institute holds a conference...

  • SAN ANTONIO- Federal Reserve Bank of Dallas President Robert Kaplan discusses the post-election outlook for the Federal Reserve and other issues on CNBC's Squawk Alley- 1600 GMT. Speakers include Asia Development Bank President Takehiko Nakao, University of Rochester Professor Narayana Kocherlakota, Deputy Governor of the Sveriges Riksbank Cecilia...