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Top News & Analysis Phoenix

  • HOMS, Syria/ BEIRUT, March 18- Rebels and their families began leaving their last bastion in the Syrian city of Homs on Saturday, state media and a Reuters witness said, under a Russian-backed deal with the government expected to be among the largest evacuations of its kind. The agreement underlines Syrian President Bashar al-Assad's upper hand in the war, as more...

  • Bennett said it plans to open five stores in Russia, shrugging off the political and economic challenges of working in a country that's been under Western sanctions for almost three years. It opened its first shop in a Moscow mall in August, teaming up with Russian fashion firm Easy Fashion Group. L.K. Bennett, a high street brand favoured by Britain's Duchess of...

  • JAKARTA, March 3- Indonesia will not back down from new rules requiring Freeport-McMoran to divest a majority stake in its local unit, Energy and Mineral Resources Minister Ignasius Jonan said, in a dispute over rights to the world's second-biggest copper mine. Freeport's exports of copper concentrate from its Grasberg mine have been at a standstill since...

  • Home sellers, watch out for these two hot weeks every year

    When it comes to real estate, this spring is the seller's market.

  • JAKARTA, Feb 18- Chappy Hakim, chief executive of miner Freeport-McMoran Inc's Indonesian unit, has resigned, the company said on Saturday, after the parent firm declared force majeure on copper concentrate shipments from its Grasberg mine in Papua. Freeport was the second big copper producer in a week to declare force majeure, after BHP Billiton did so on Feb. 10...

  • JAKARTA, Feb 18- Chappy Hakim, the chief executive of miner Freeport-McMoran Inc's Indonesian unit, has resigned, the company said on Saturday, after the parent firm declared force majeure on copper concentrate shipments from its Grasberg mine in Papua. Freeport was the second big copper producer in a week to declare force majeure, after BHP Billiton did so on Feb....

  • TORONTO, Feb 17- Freeport-McMoRan Inc has declared force majeure on "nearby deliveries" of copper concentrate from its suspended Grasberg mine in Indonesia, Metal Bulletin reported on Friday, citing unnamed sources. A more than month-long export suspension brought production at the giant Grasberg mine in Papua, Indonesia, to a standstill last week.

  • Feb 16- The Dow Jones Industrial Average scored its sixth straight record high on Thursday, but just barely, while the S&P 500 edged lower due to declining energy stocks. Signs of an improving economy and promises by President Donald Trump to cut corporate taxes and reduce financial regulations have been behind much of the recent gains. "Some of the excitement and...

  • 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...