In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
Minutes from the Reserve Bank of Australia's monetary policy meeting in July showed the central bank was ready to adjust interest rates if required.Asia Marketsread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Beto O'Rourke's campaign for the 2020 election raised just $3.6 million in the second quarter of this year, putting him in the lower tier of candidates who have struggled to...2020 Electionsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Copper prices leaped more than 4 percent Friday after a strike at the world's largest copper mine raised expectations of tighter supply.
Workers at BHP Billiton's Escondida mine in Chile walked off the job Thursday in a wage dispute and are building a campsite right outside the mine, Reuters reported. The newswire also said the workers' union has stockpiled supplies and provisions for 60 days.
Copper futures contracts for March delivery hit a session high of $2.771 a pound, the highest since May 29, 2015.
With gains of nearly 4.4 percent midday Friday, the metal was tracking for its best day since Sept. 8, 2015. Copper is up more than 5.5 percent for the week.
Copper prices 5-year performance
The metal had already been on the rise ahead of the planned Escondida strike. Processing plants began going offline Wednesday and have completely stopped, the union told Reuters.
Separate issues at the world's second-largest copper mine in Indonesia also look set to hit production, and analysts expect the disruptions to reduce the global supply of copper by about 8 percent.
Traders also eyed overnight news from China, the world's largest consumer of the metal, to gauge the future balance of supply and demand.
"This slowdown in copper imports signals waning demand in the face of increasing rates and slower manufacturing," Bart Melek, global head of commodity strategy at TD Securities, wrote in a Friday note.
"These numbers provide further evidence that if the supply disruptions at the two largest copper mines do not last long term, then there is little reason to justify the extreme spec length and prices between $5,800-6,100 /t (~$2.63 - $2.67 /lb.), and we expect a reversal towards $5300/t ($2.40 /lb.)," Melek said.