Economics

China's securities regulator announces a complete suspension of restricted shares lending effective today (Monday), in response to the recent sharp decline in Chinese shares, particularly last Monday.

A year ago, expectations for the performance of the US economy in 2023 were uniformly negative: a slowdown or recession, a surge in jobless numbers, weak earnings, and worse were predicted.

Wall Street capped off a successful week on Friday, marking its 12th winning week out of the last 13, as investors eagerly anticipated the Federal Reserve's upcoming decision and Chair Jay Powell's remarks. While the market closely watched the central bank, it was the quarterly reports from tech giants Apple, Microsoft, Amazon, Meta, and Alphabet that stole the spotlight, potentially overshadowing the Fed's impact.

Will the Fed and five major quarterly results this week ruin the market tea party in the wake of yet another week of records on Wall Street, in Europe, and Japan?

Oil had a better week, iron ore bounced, copper rose, and coal eased as commodities steadied on hopes that China’s attempts to stop the economic rot would work.

Tesla's price cuts in China, the US, and Europe resulted in a 35% earnings slump in 2023, reducing profits to $8.89 billion, and impacting the company's operating margins.

No interest rate relief this week or last from the People’s Bank of China, but the country’s central bank rolled out a second-best move: a cut in the reserve ratio for the country’s banks from early next month.

The biggest shareholder in Australian Agricultural Co, 86-year-old Joe Lewis, who holds a 52% stake in Aust Ag through his company, Tavistock Group, has been convicted of insider trading by a US court. Lewis, who also revealed the purchase of another 6 million shares in the beef producer midway through 2023, pleaded guilty in a New York federal court to securities fraud related to insider trading.

Netflix is set to propel Wall Street higher when trading resumes on Wednesday, following the streaming giant's remarkable performance in adding more subscribers than anticipated for the three months ending in December 2023.

After a year of economic twists and turns, we consider what the year ahead could bring.

The sell-off in Chinese shares slowed on Tuesday, and Hong Kong bounced back after the government contemplated a well-leaked proposal for a massive share-buying scheme.

Prices for Australian lithium are set to face further downward pressure, and the competition from Chinese miners is expected to intensify, according to a recent analysis by commodity price forecaster Wood Mackenzie.

Economic activity slowed over the Christmas-New Year break, according to the first business survey from the National Australia Bank, released on Tuesday. However, business confidence improved, especially in retail, as the Black Friday sales seemed to work a bout of magic.

Once again, the markets told the story on Monday as China and Japan considered monetary policy, with the status quo emerging as the winner.

On the day China was expected to lower interest rates, its stock markets plummeted by over 2%, surprising analysts who had not anticipated such a move from the People's Bank of China (PBoC) after it had left another key indicator unchanged the previous week.

The cutbacks in resources continue, especially in Western Australia, with the nickel and lithium sectors bearing the brunt of spending reductions, mine closures, and the suspension of exploration activities.

In a significant move towards bolstering the United States' electric vehicle (EV) infrastructure and fostering clean energy employment, the Biden-Harris Administration has unveiled a funding injection of US$46.5 million to support 30 projects across 16 states and Washington, D.C. These projects are designed to enhance the performance, resilience, and reliability of EV charging networks, promote equitable access to sustainable transportation solutions, and stimulate the growth of the clean energy workforce.

This week in the US, important economic indicators will be released, including December inflation readings and GDP estimates, while Tesla and Netflix earnings reports are expected to take center stage. Additionally, several other companies in the S&P 500 will report their earnings.

Wall Street has finally shaken free of the year-start blues to pick up again on the year-end Fed pivot surge, although not with the same conviction as support for tech stocks, especially those in AI, which helped boost expectations last week.

Since the start of 2024, Tokyo's Nikkei market has seen remarkable action, hitting 35 and achieving new 36-year highs in the first fortnight of trading.

US initial unemployment benefit claims remain a lower-tier economic statistic for the American economy; however, they continue to exert a larger-than-expected influence on US economic sentiment and analysis.

Serbia is actively seeking further discussions with Rio Tinto regarding the future of the Jadar lithium-borate project, despite Rio Tinto's recent statement expressing limited interest and a preference for investing in Argentina's metal industry and the extraction of iron ore in Africa and Western Australia.

The world's second-largest gold miner announced in November that its 2023 gold production would be lower than expected due to equipment issues at its Dominican Republic mine and reduced output at two sites in the Nevada Gold Fields business co-owned with Newmont in the US.

China's economic troubles were laid bare on Wednesday for the world to witness, signaling a troubled economy.

On Wednesday, the world's largest player in the lithium industry, Albemarle of the US, unveiled extensive restructuring and cost-cutting measures aimed at saving millions of dollars in expenses and capital expenditures (capex).

Elon Musk wants more control over Tesla—25% to be exact, which is nearly double his current holding.

Chinese Premier Li Qiang had already revealed China's official GDP growth rate for 2023 – 5.2% – during the Davos talkfest in Switzerland on Tuesday, a day before the country's National Bureau of Statistics was set to release the official data on Wednesday.

The recent COP28 conference held in Dubai, being colloquially referred to as the Nuclear COP, was the first of the regular series of events held by the United Nations where the nuclear industry was welcomed with open arms as a critical factor in achieving global net zero.

The 6th US major to report, Morgan Stanley, produced its figures on Tuesday as well. For the quarter ended December 31, 2023, it reported revenue of $US12.9 billion, above Wall Street estimates of $US12.7 billion.

Goldman Sachs has reported its lowest annual profits in four years, as losses caused by its pullback from retail banking compounded a slowdown in its core business.

BYD's export expansion continues, with the company revealing that its first potentially fleet of car carriers started its maiden voyage on Monday from Yantai Port in Shandong and Xiaomo Port in Shenzhen.

Canada's First Quantum Minerals has announced significant cuts in its operations and spending as it grapples with the aftermath of losing its $US10 billion Cobre Panama copper mine due to a combination of government and court decisions.

First Quantum Minerals halts Ravensthorpe nickel operation due to weak prices, adding to financial woes after $10B copper mine loss in Panama.