It hasn't been long since Caterpillar Inc looked like the typical resident of the Rust Belt. Having misjudged how deep the U.S. economy would decline, the world's largest maker of construction machinery reduced its workforce by 33,000 people worldwide in 2009, closed plants and posted lower profits.
It is hardly surprising that Switzerland, a country known for exports of chocolate and breathtaking mountain vistas not precious metals, would reject a gold mine in its own backyard.
Sual Partners Group, owned by Russian billionaire Viktor Vekselberg, is suing Rusal, the world's top aluminum producer and commodities giant Glencore over an aluminum supply deal worth some $47 billion.
What do the gold market and the weather have in common? You can forecast both, but predict neither, according to Brien Lundin, chief executive of Jefferson Financial and publisher of Gold Newsletter. Lundin, who also organizes the New Orleans Investment Conference, isn't focusing on if there will be rain or sun in the market, he told The Gold Report in this exclusive interview.
June gold contracts ended the holiday shortened week at $1,632 an ounce, but the end of Indian strike and disappointing news out on Friday – a day the markets were closed and could not react – about job growth in the US should provide stimulus for renewed interest in the yellow metal.
Within 48 hours of its occurrence, the city police today cracked the 2.5 kg gold coin robbery and recovered the booty involving an auto-borne gang with the arrest of three people, including an employee of the Gold Finance Firm.
Times Dispatch reports that Virginia Gov. Bob McDonnell is not taking a position on whether a 30-year-old ban on uranium mining should be lifted.
Alcoa (NYSE: AA) announced today that the Company will reduce its annual alumina production capacity by approximately 390,000 metric tons to align production with smelter curtailments Alcoa announced earlier this year and to reflect prevailing market conditions.
Canadian Lake Shore Gold (TSX:LSG) announced it has resumed operations at its Timmins West Mine in Ontario, where a worker died on Tuesday, and reported a fall in its quarterly production.
I have not done this before; I have never repeated a comment as a new posting. I do this now, not because I have become lazy and dependent on others for opinions and perspective, but because I think this comment is worthy of individual exposure and repeat.