Archive

September 4, 2025

Browsing

A tense and divided morning is unfolding across European markets, with stocks opening to a mixed and hesitant picture as investors grapple with a legal bombshell that has thrown the future of global trade into profound uncertainty.

The market is caught in a state of suspended animation, waiting for a verdict not only from the US Supreme Court but also from a series of critical economic reports that will determine the health of the American economy.

The pan-European Stoxx 600 hovered around the flatline at the open, a picture of indecision that masked a sharp divergence beneath the surface.

Battered technology shares, which have suffered from the week’s risk-off mood, staged a modest 0.3 percent rebound, while travel stocks tumbled 1.3 percent.

The tariff turmoil: a battle for the Supreme Court

The primary source of the market’s anxiety is the legal firestorm erupting around President Donald Trump’s trade tariffs.

After a federal appeals court delivered the stunning ruling last week that most of his global levies are illegal, the president has gone on the offensive.

On Wednesday night, he formally asked the Supreme Court to fast-track an appeal, seeking a final decision on the legality of the duties that have reshaped global commerce.

According to filings obtained by NBC News, Trump is asking the nation’s highest court to hear arguments in early November, a move that ensures the cloud of tariff uncertainty will continue to hang over the market for weeks to come.

The Economic Barometer: All Eyes on the American Worker

While the legal drama plays out, a more immediate and perhaps more crucial test is on the horizon. Wall Street is bracing for a volley of labor market data that will provide a vital health check on the US economy.

The ADP private payrolls report is due Thursday, a key prelude to Friday’s all-important government jobs report. Economists polled by Dow Jones expect to see a significant slowdown in private job creation, a signal that could sway the Federal Reserve’s next move.

A divided kingdom: London lags as a corporate shake-up takes shape

This global uncertainty is being felt acutely in London, where the blue-chip FTSE 100 has ticked down 0.2 percent, noticeably underperforming its continental peers.

The pound has pared some of its earlier gains, while a curious split has emerged in the bond market, with yields rising on short-term debt and falling on the long end.

Against this nervous backdrop, a significant corporate reshuffle is taking shape. The FTSE 100 is set to welcome the luxury group Burberry and the newly-listed Greek energy and metals group Metlen to its ranks.

They will replace the student accommodation developer Unite and the homebuilder Taylor Wimpey, a clear sign of the changing economic winds.

The churn continues in the FTSE 250, where the fast-fashion firm Asos and the housebuilder Crest Nicholson are among those being demoted, a tangible consequence of the pressures facing the modern consumer.

The post Europe markets open: Stoxx 600 flat, FTSE -0.2% as Trump takes tariff fight to SC appeared first on Invezz

The world’s mining industry may be spread across over 150 countries, but new data reveals that almost half of all large-scale mining and processing facilities are concentrated in just three: China, Australia and the US.

That’s according to the International Council on Mining and Metals’ (ICMM) Global Mining Dataset report. Released on Wednesday (September 3), it is a sweeping compilation of 15,188 mines and processing plants.

According to ICMM, 45 percent of all mines, smelters, refineries and steel plants are clustered in China, Australia and the US — an uneven distribution that has key implications for supply chains and the pace of the clean energy transition.

“ICMM’s foundational Dataset shows that over 75 percent of national economies have at least some connection to large-scale mining or mineral processing,” said Rohitesh Dhawan, ICMM’s president and CEO.

“Having a global view of the location, type, commodity and footprint of these facilities is essential to inform the right public and policy debates for this critical sector. With minerals and metals at the heart of the energy transition and geopolitical shifts, robust, global, industry-wide data has never been more critical,’ he added in a press release.

The dataset identifies 12,876 mines, 1,980 standalone processing facilities and 332 co-located sites where extraction and processing happen together. As mentioned, while operations stretch across more than 150 countries, ICMM’s analysis shows that China in particular dominates the processing stage of the supply chain.

ICMM records 426 metallurgical facilities in China — by far the most worldwide — compared with 120 in the US, 87 in India and 65 in Brazil. That asymmetry between mining and refining presents a challenge facing local supply chains.

While resource deposits are scattered globally, the industrial capacity to convert ores into usable metals is more centralized and heavily tilted toward China. Europe, for instance, suffers from this vulnerability. Despite having strong demand from its automotive, aerospace and electronics industries, the continent’s mining base has shrunk.

What’s more, the dataset shows a greater density of metallurgical facilities in Europe compared with mines.

This imbalance is not limited to Europe. Across the globe, many economies have significant mineral deposits, but lack the facilities to process them. This structural gap cements the dominance of China, which has invested heavily in refining capacity and controls much of the midstream in critical minerals supply chains.

Coal remains dominant

Although the dataset highlights the role of critical minerals in the energy transition, it also shows that coal remains the single most common mined commodity by number of facilities. Coal accounts for a whopping 42 percent of all mines, followed by gold at 17 percent, copper at 12 percent and iron ore at 9 percent.

The prevalence of coal mines contrasts with global climate goals, but also reflects the legacy infrastructure of energy systems and the uneven pace of transition. Overall, Asia hosts the largest number of coal, copper and iron ore mines, while North and Central America contain the highest number of gold mines.

Playing the long game

ICMM stresses that the release of the dataset is the first step in a multi-year effort to improve transparency and support evidence-based policymaking in the resource sector. Alongside the full dataset, which draws on proprietary sources, ICMM has published a public version covering 8,508 facilities.

Dhawan said the council hopes the data will “continue to expand and improve through partnerships,” while building on key sustainability indicators in the coming months. More crucially, industry observers have long criticized the scarcity of comprehensive, public data on the sector. Without standardized information, they argue, it is difficult to evaluate the social and environmental impacts of mining or even craft effective regulations.

ICMM believes its initiative, though still limited by licensing restrictions on some proprietary datasets, represents one of the most ambitious attempts to date to assemble a global picture of the industry. The council said it will work with partners to expand the dataset and incorporate indicators on sustainability performance.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Families who lost loved ones in two crashes of Boeing 737 Max jetliners may get their last chance to demand the company face criminal prosecution Wednesday. That’s when a federal judge in Texas is set to hear arguments on a U.S. government motion to dismiss a felony charge against Boeing.

U.S. prosecutors charged Boeing with conspiracy to commit fraud in connection with the crashes that killed 346 people off the coast of Indonesia and in Ethiopia. Federal prosecutors alleged Boeing deceived government regulators about a flight-control system that was later implicated in the fatal flights, which took place less than five months apart in 2018 and 2019.

Boeing decided to plead guilty instead of going to trial, but U.S. District Chief Judge Reed O’Connor rejected the aircraft maker’s plea agreement in December. O’Connor, who also will consider whether to let prosecutors dismiss the conspiracy charge, objected to diversity, equity and inclusion policies potentially influencing the selection of an independent monitor to oversee the company’s promised reforms.

Lawyers representing relatives of some of the passengers who died cheered O’Connor’s decision, hoping it would further their goal of seeing former Boeing executives prosecuted during a public trial and more severe financial punishment for the company. Instead, the delay worked to Boeing’s favor.

The judge’s refusal to accept the agreement meant the company was free to challenge the Justice Department’s rationale for charging Boeing as a corporation. It also meant prosecutors would have to secure a new deal for a guilty plea.

The government and Boeing spent six months renegotiating their plea deal. During that time, President Donald Trump returned to office and ordered an end to the diversity initiatives that gave O’Connor pause.

By the time the Justice Department’s criminal fraud section briefed the judge in late May, the charge and the plea were off the table. A non-prosecution agreement the two sides struck said the government would dismiss the charge in exchange for Boeing paying or investing another $1.1 billion in fines, compensation for the crash victims’ families, and internal safety and quality measures.

The Justice Department said it offered Boeing those terms in light of “significant changes” Boeing made to its quality control and anti-fraud programs since entering into the July 2024 plea deal.

The department also said it thought that persuading a jury to punish the company with a criminal conviction would be risky, while the revised agreement ensures “meaningful accountability, delivers substantial and immediate public benefits, and brings finality to a difficult and complex case whose outcome would otherwise be uncertain.”

Judge O’Connor has invited some of the families to address the court on Wednesday. One of the people who plans to speak is Catherine Berthet, whose daughter, Camille Geoffrey, died at age 28 when a 737 Max crashed shortly after takeoff from Ethiopia’s Addis Ababa Bole International Airport.

Berthet, who lives in France, is part of a group of about 30 families who want the judge to deny the government’s request and to appoint a special prosecutor to take over the case.

“While it is no surprise that Boeing is trying to buy everyone off, the fact that the DOJ, which had a guilty plea in its hands last year, has now decided not to prosecute Boeing regardless of the judge’s decision is a denial of justice, a total disregard for the victims and, above all, a disregard for the judge,” she said in a statement.

Justice Department lawyers maintain the families of 110 crash victims either support a pre-trial resolution or do not oppose the non-prosecution agreement. The department’s lawyers also dispute whether O’Connor has authority to deny the motion without finding prosecutors acted in bad faith instead of the public interest.

While federal judges typically defer to the discretion of prosecutors in such situations, court approval is not automatic.

In the Boeing case, the Justice Department has asked to preserve the option of refiling the conspiracy charge if the company does not hold up its end of the deal over the next two years.

Boeing reached a settlement in 2021 that protected it from criminal prosecution, but the Justice Department determined last year that the company had violated the agreement and revived the charge.

The case revolves around a new software system Boeing developed for the Max. In the 2018 and 2019 crashes, the software pitched the nose of the plane down repeatedly based on faulty readings from a single sensor, and pilots flying then-new planes for Lion Air and Ethiopian Airlines were unable to regain control.

The Transportation Department’s inspector general found that Boeing did not inform key Federal Aviation Administration personnel about changes it made to the MCAS software before regulators set pilot training requirements for the Max and certified the airliner for flight.

Acting on the incomplete information, the FAA approved minimal, computer-based training for Boeing 737 pilots, avoiding the need for flight simulators that would have made it more expensive for airlines to adopt the latest version of the jetliner.

Airlines began flying the Max in 2017. After the Ethiopia crash, the planes were grounded worldwide for 20 months while the company redesigned the software.

In the final weeks of Trump’s first term, the Justice Department charged Boeing with conspiring to defraud the U.S. government but agreed to defer prosecution and drop the charge after three years if the company paid a $2.5 billion settlement and strengthened its ethics and legal compliance programs.

The 2021 settlement agreement was on the verge of expiring when a panel covering an unused emergency exit blew off a 737 Max during an Alaska Airlines flight over Oregon at the beginning of last year. No one was seriously injured, but the potential disaster put Boeing’s safety record under renewed scrutiny.

A former Boeing test pilot remains the only individual charged with a crime in connection with the crashes. In March 2022, a federal jury acquitted him of misleading the FAA about the amount of training pilots would need to fly the Max.

This post appeared first on NBC NEWS

The U.S. military is strengthening its Navy presence near Venezuela, as President Donald Trump seeks to stop the flow of drug trafficking from the Latin American country.

U.S. naval and air assets have been sent to the region to take on drug trafficking and protect regional maritime routes, with some already used this week to target alleged narco-terrorists.

A Marine strike on Tuesday struck a vessel in the southern Caribbean Sea while allegedly carrying members of Tren de Aragua smuggling narcotics headed for the U.S.

Secretary of Defense Pete Hegseth has deployed several assets to the region, including USS Iwo Jima, USS Lake Erie, USS Jason Dunham, USS Gravely and USS Sampson, to target criminal organizations and narco-terrorism, Fox News can confirm.

‘In support of the President’s directive to dismantle Transnational Criminal Organizations (TCOs), Foreign Terrorist Organizations (FTOs), and counter narco-terrorism to defend the homeland, the Secretary of Defense directed the Iwo Jima Amphibious Ready Group/22nd Marine Expeditionary Unit and the Ticonderoga-class guided-missile cruiser USS Lake Erie (CG 70) to the U.S. Southern Command (USSOUTHCOM) area of responsibility (AOR),’ Col. Chris Devine, a spokesman for the Defense Department, told Fox News.

‘Arleigh Burke-class guided-missile destroyers USS Jason Dunham (DDG 109), USS Gravely (DDG 107), USS Sampson (DDG 102) and embarked U.S. Coast Guard Law Enforcement Detachment teams are currently operating in the region,’ he continued.

Hegseth also sent air assets ‘to strengthen U.S. whole-of-government detection, monitoring, and interdiction capabilities to sustain pressure on TCO networks throughout the region,’ according to Devine.

‘The enhanced U.S. force presence in the USSOUTHCOM AOR  will bolster U.S. capacity to detect, monitor, and disrupt illicit actors and activities that compromise the safety and prosperity of the United States homeland and our security in the Western Hemisphere,’ he said. ‘These forces will enhance and augment existing Joint Interagency Task Force – South and USSOUTHCOM capabilities to disrupt narcotics trafficking and degrade and dismantle TCOs and FTOs.’

This post appeared first on FOX NEWS