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Bloomberg

Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

Can Canada's oil-rich Alberta capture a low-carbon future?

7th May 2021 At a research site in rural Alberta, carbon dioxide is injected deep into the ground. Using remote sensors, scientists monitor its movement to ensure the planet-heating gas does not migrate upwards. "Basically, think of ultrasound on bodies – we're doing ultrasound on the earth," said Don... 

Copper jumps to record as growth bets supercharge commodities

7th May 2021 Copper soared to an all-time high as optimism about a global rebound from the pandemic spurs a surge across commodities markets. The metal -- an economic bellwether -- is front and center in a rally that’s driven raw materials from lumber to iron ore to multiyear highs or records. Stimulus... 

Glasenberg says $15 000 copper needed to drive new supply

7th May 2021 Copper will need to rise 50% further from its current near record high to encourage enough new mined supply to meet rampant demand, according to Ivan Glasenberg, the billionaire chief executive officer of Glencore. Copper topped $10 000 a metric ton last week for the first time in a decade and... 

Indebted Eskom balks at power deal offered by Turkish generator

6th May 2021 Eskom Holdings, South Africa’s State power utility, doesn’t want to buy electricity from the company that won most of a government emergency-power tender because it’s concerned about the cost and length of the contract, according to two people familiar with the situation. Meeting the terms of... 

Copper holds near $10 000 as China’s return puts focus on demand

6th May 2021 Copper hovered around $10 000 a metric ton as the return of Chinese investors from a three-day break put the spotlight on the strength of demand in the world’s top consumer. The metal climbed to the highest in a decade this week, fueling bets it will rally further to take out the record of $10... 

Rapidly spreading variants compound Africa’s coronavirus woes

5th May 2021 New coronavirus variants have proliferated across southern and eastern Africa, exacerbating the challenge of bringing the pandemic under control, analysis of the genomics data shows. A strain first detected in South Africa late last year is “completely dominating all infection in southern Africa... 

Iron-ore’s blistering rally sets sights on $200 as steel booms

5th May 2021 A surge in steel consumption as the world emerges from its pandemic-induced slump is set to drive iron-ore to an unprecedented high as the biggest miners struggle to keep up with the frenzied pace of demand. Expectations are building that benchmark prices can get to $200/t -- topping the record... 

Eskom calls union wage demands unaffordable in tense negotiation

5th May 2021 Eskom Holdings said the South African state utility is unable to agree to certain union demands over wage increases and declined to make an offer on basic salary until labor groups respond. The loss-making electricity provider “cannot afford” proposals such as an improvement in pay inequality,... 

World’s biggest jewellery maker will no longer use mined diamonds

4th May 2021 Pandora, which makes more pieces of jewelry than any other company in the world, will stop using mined diamonds as part of a broader strategy to drop raw materials associated with unethical production methods. Despite decades of reform, the global jewelry market remains tainted by reports of... 

European deep-sea mining robot recovered at bottom of Pacific

3rd May 2021 A deep-sea mining robot reported lost at the bottom of the Pacific Ocean has been recovered and will continue to undergo testing in the cobalt-rich seabed. Global Sea Mineral Resources reported Wednesday that its Patania II device had malfunctioned, uncoupling from a five-kilometer-long cable... 

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