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Top News & Analysis Phoenix

  • MSCI's All-Country World index hit an intraday record of 444.94, although stocks on Wall Street dipped as the financial sector, down 0.1 percent, snapped a five-session winning streak and energy stocks slumped 1.4 percent. Other data showed improvements in exports from Indonesia and Taiwan, and falling unemployment in Sweden and the Netherlands.

  • Feb 16- Wall Street dipped on Thursday, weighed down by energy stocks as oil prices dropped and banks fell broadly for the first time in six days. Wells Fargo, Bank of America, JPMorgan and Citigroup weighed more than any other stocks on the S&P 500, which has hit a string of record high in recent sessions on signs of an improving economy and promises by President...

  • *All work at Grasberg stopped except maintenance- union. JAKARTA, Feb 16- All work has stopped at Freeport-McMoRan Inc's giant copper mine in Indonesia and its workers are planning a demonstration against the government's move last month that halted exports of copper concentrate to boost domestic industries, a union said. Thousands of workers plan to stage a...

  • *All work at Grasberg stopped except maintenance- union chief. JAKARTA, Feb 16- All work has stopped at Freeport-McMoRan Inc's giant copper mine in Indonesia, a worker union said on Thursday, just over a month after the country halted exports of copper concentrate to boost domestic industries. Thousands of workers planned to stage a demonstration on Friday in...

  • JAKARTA, Feb 14- Freeport-McMoRan Inc has halted production of copper concentrate in Indonesia and has begun to send home workers at Grasberg, the world's second-largest copper mine, a spokesman for the company's local unit said. Indonesia introduced rules on Jan 12 that restrict copper concentrate exports from the country in an effort to promote the...

  • JAKARTA/ TORONTO, Feb 10- Freeport-McMoRan Inc said on Friday that an export ban remains in place at 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 government banned copper concentrate exports Jan. 12 to try and boost Indonesia's smelter industry.

  • 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...