AngloGold Ashanti Publishes Its 2023 UK Annual and Other Reports

Reuters Videos
Elon Musk lays off Tesla execs, plans more cuts
STORY: Elon Musk looks to be doing more layoffs at Tesla. Reports by The Information on Tuesday (April 30) say he’s fired two top executives, and plans to get rid of hundreds more workers. Musk is said to be frustrated by falling sales, and the pace of earlier job cuts. The story quotes an email said to be from Musk. In it he says, “these actions are making it clear that we need to be absolutely hard core about headcount”. In an apparent warning to managers, he says “while some on exec staff are taking this seriously, most are not yet doing so”. There was no immediate response to a Reuters request for comment. It all follows a move earlier this month to shed some 10% of the company’s workforce. Tesla is grappling with falling sales and an intensifying price war which it started. Reporting earnings last week, it said all that led to its first quarterly drop in revenue since 2020. Musk this weekend made a surprise visit to China, the epicenter of the price battle. There he made progress on rolling out the brand’s advanced driver assistance features in the country. However, Tesla faces fierce competition from local makers like BYD in what is now the world’s biggest car market.
2 days ago
Reuters Videos
EVs are getting smarter and cheaper in China
STORY: Light-up emojis. Music for pedestrians outside. In China, electric carmakers are offering up luxury tech – without the luxury price tag – in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as $20,000 – less than half the cost of the average new car in the U.S. Analysts say that poses a big challenge for foreign heavyweights like Tesla and Volkswagen. This is the Nammi – on display here at the Beijing auto show. It’s made by state-owned automaker Dongfeng and sells for under $10,000. That’s around the same as BYD’s Seagull EV – China’s fourth best-selling electric vehicle. The market is also crowded with electric and plug-in vehicles that splash luxury technology. Xpeng is planning to offer an EV with high-level self-driving features – for under $21,000. Analysts say the price of specialized components like sensors needed for self-driving and screens for onboard entertainment has tumbled. That's making competition in the world’s largest auto market all the more fierce… And chipping away at the halo that once hung over foreign brands. That’s according to an outlook from McKinsey analysts released in March. Take Zeekr, for instance. It's the carmaker with those emojis. Here’s its Shanghai head of design, Javier-Garcia Gallardo: “When we see the differences between our product launch in China versus our product launch in Europe and, you know, the technical details are as important as the design and the brand. And this integration of technology is essential for the Chinese customer.” Still, German automakers say they’re not backing down. Here’s Mercedes-Benz CEO Ola Kallenius: “We have a dedicated digital tech team here all the way down to providing things like in the new E-Class, you can sing karaoke. Maybe you don't have that feature in Germany. Maybe you should. But here, customers love it.” Mercedes, as well as Volkswagen, both told Reuters they’re working to deliver those so-called “wow effects” for Chinese buyers.
9 hours ago
Reuters
Starbucks shares hit two-year low as China, US demand clouds outlook
Shares of Starbucks fell 15% to their lowest in nearly two years on Wednesday, after the coffee chain cut annual forecasts on persistent weak demand from inflation-weary U.S. customers and a slower-than-expected economic recovery in China. Price hikes taken last year have forced customers to ditch cafes and restaurants and instead drink coffee at home, hurting business for chains such as Starbucks. "The inability to stop the traffic leakage from the early signs of pull-back in November to date and the worsening macro and competitive dynamics in China may suggest prolonged challenges and no evidence of light at the end of the tunnel," Danilo Gargiulo, senior analyst at Bernstein, wrote in a note.
19 hours ago
Reuters
UPDATE 1-Brazil Potash aims to beat Russian, Canadian suppliers on price
The cost to produce potash from a mine being developed in the Brazilian Amazon will be similar to Russia's and lower than in No. 1 producer Canada, said the CEO of Brazil Potash Corp, citing a third-party assessment used in a company presentation. The economics of the project -- which faced a protracted licensing process involving multiple government agencies and Indigenous consultations -- has drawn analysts' attention after the price of potash fell sharply from highs above $1,000 per metric ton amid the threat of sanctions against Russia and Belarus in 2022, compared to the current level just above $300. That, and new mining projects emerging in Canada and Laos, would likely keep a lid on prices, they said.
a day ago
Yahoo Finance
Oil prices drop amid rising inventories, diplomatic push for Gaza ceasefire
Oil prices have been declining on optimism regarding a possible ceasefire between Hamas and Israel and rising crude inventories.
14 hours ago
Reuters
UPDATE 1-Australia's Meteoric signs preliminary deal with Neo Performance to supply rare earths
Australia's Meteoric Resources will supply 3,000 metric tonnes of rare earth oxide per year to Toronto-listed Neo Performance Materials under a preliminary agreement, the companies said on Thursday. Neo's rare earth separation factory in Estonia is expected to purchase the rare earth oxide from the initial output of Meteoric's Caldeira project in Brazil.
7 hours ago
Reuters
Exclusive-Near-record high LME prices a magnet for Chinese copper exports
China's copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, aiming to cool a rally that has propelled prices towards record highs and hit their order books, three industry sources said. Chinese producers are selling into the rally, driven by a speculative frenzy that took copper prices on the London Metal Exchange (LME) to two-year peaks of $10,208 a metric ton this week, close to the record high of $10,845 hit in March 2022, the sources said. The sources said about the 100,000 tons of copper was likely to leave China over the next few weeks.
18 hours ago
Reuters
Hyundai Motor Group plans hybrid cars for India in strategy shift, sources say
SEOUL/NEW DELHI (Reuters) -Hyundai Motor Group plans to launch its first hybrid cars in India as early as 2026, three sources said, as the South Korean auto group shifts strategy to look beyond electric vehicles and boosts its presence in a key market. The group, housing Hyundai Motor and Kia Corp, is evaluating a hybrid sport-utility vehicle of size similar to its top-selling, mid-sized Creta SUV in India, said two of the sources, who have direct knowledge of the plans. Both Hyundai, which is India's second-largest carmaker, and Kia are targeting the launch of hybrid SUVs in 2026 or 2027, the two sources said, adding that their EV plans for India were also on track.
2 days ago
Yahoo Finance Video
Qualcomm results suggest supercycle is on the horizon: Analyst
Qualcomm Inc. (QCOM) reported its second quarter earnings results, beating analyst estimates on the top and bottom lines. The semiconductor giant's second quarter adjusted earnings were $2.44 per share, topping Street estimates of $2.32. Adjusted revenue of $9.39 billion was just slightly better than the $9.32 billion estimate. Joining Market Domination Overtime to discuss the results are Rosenblatt Securities Managing Director and Senior Research Analyst Kevin Cassidy and Moor Insights & Strategy Founder, CEO, and Chief Analyst Patrick Moorhead. While the quarter focused primarily on Qualcomm's handset sales, Moorhead highlights the company's automotive segment as "the biggest surprise" in the results. He notes that this sector witnessed a remarkable surge in its backlog, increasing from $30 billion to a staggering $45 billion over the course of 18 months, describing the feat as "pretty big." Asked about AI's implications, Moorhead says that with Qualcomm's new chips featuring "supersized AI" capabilities, he is "very optimistic" that a supercycle could emerge in the latter half of the year. Cassidy echoed Moorhead's sentiment, describing Qualcomm's results as "a relief" amid reports of weakening demand in the Android sector. He agrees with the notion of a potential supercycle, saying that Qualcomm's unique features and applications could support such a development. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
10 hours ago
Reuters
WRAPUP 1-Shift to new models, weak demand hit Europe's automakers
Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue on Tuesday as they geared up to launch new models and faced weaker consumer demand for new cars as interest rates remain high. The news hit the automakers' stocks. In early trading Mercedes shares were down 3.6%, Stellantis nearly 1.5% and Volkswagen 2.1%.
2 days ago
CNN Business
Volkswagen’s electric car orders double in Europe
Volkswagen’s orders for electric vehicles shot up in Europe in the first quarter of 2024 compared with a year ago, countering suggestions that drivers may be losing interest in EVs.
2 days ago
Reuters
Oil prices rebound on hopes US will replenish strategic reserve
NEW DELHI (Reuters) -Oil prices rose on Thursday, rebounding from three days of losses, on expectations the lower levels may prompt the U.S., the world's biggest crude consumer, to start replenishing its strategic reserve, putting a floor under prices. Still, prices fell more than 3% on Wednesday to a seven-week after the U.S. Federal Reserve kept interest rates steady, which may curtail economic growth this year and limit oil demand increases. Crude was also pressured by an unexpected increase in U.S. crude inventories and signs of an impending Israel-Hamas ceasefire that would ease Middle East supply concerns.
6 hours ago
Reuters
StanChart profit beats forecasts as income boost outweighs credit losses
HONG KONG/LONDON (Reuters) -Standard Chartered PLC beat forecasts on Thursday with a 5.5% rise in its first-quarter pretax profit, as the income boost from higher interest rates and a robust performance from its markets trading business offset a surge in credit losses. The bank, which makes the bulk of its revenue and profits in Asia, saw profit at its investment banking unit climb 13% in the quarter. Crucially, the bank grew fee-based revenues from markets and wealth management in particular, a key target for it and rivals as interest rates worldwide peak and cap the boost they have recently received from lending-based income.
2 hours ago
Futurism
China Releases CGI Video of Moon Base and It Contains Something Very Strange
Blurred Out The China National Space Administration (CNSA) has shown off a CGI video of its vision of a lunar base, a vastly ambitious plan the country is hoping to realize in a matter of decades. The showy, albeit already dated-looking render shows plans for the International Lunar Research Station (ILRS) a Chinese and Russian […]
15 hours ago
The Independent
Police in violence-hit Indian state led women to mob which stripped and raped them, probe agency finds
Two women and a man, fleeing the violence, sat inside a police vehicle, begging officials to drive them to safety but they drove them to the mob instead, CBI finds
19 hours ago
The Telegraph
Xi Jinping’s vast gold war chest could let him take Taiwan without a fight
Xi Jinping has benefited in many ways from Vladimir Putin’s brutal invasion of Ukraine, not least in his single most important personal goal: to go down in history as the Chinese leader who annexed Taiwan in defiance of the West.
a day ago
LA Times
A 17-year-old girl was fatally shot while walking home in Long Beach. Police release video of a suspect
The Long Beach Police Department wants the public's help in identifying a man suspected of shooting and killing a 17-year-old girl last month.
a day ago
SETHLUI.COM
Stay away from these markets & hawker centres scheduled for spring cleaning in May 2024
The post Stay away from these markets & hawker centres scheduled for spring cleaning in May 2024 appeared first on SETHLUI.com.
a day ago
Evening Standard
Jamie Carragher names the manager Liverpool should have 'considered' before Arne Slot
Feyenoord boss widely expected to replace Jurgen Klopp
2 days ago
SETHLUI.COM
Wang Wang Crispy Curry Puff: Addictive curry puffs from Old Airport Rd opens new outlet
The post Wang Wang Crispy Curry Puff: Addictive curry puffs from Old Airport Rd opens new outlet appeared first on SETHLUI.com.
5 hours ago

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AngloGold Ashanti Publishes Its 2023 UK Annual and Other Reports

Latest stories

Elon Musk lays off Tesla execs, plans more cuts

EVs are getting smarter and cheaper in China

Starbucks shares hit two-year low as China, US demand clouds outlook

UPDATE 1-Brazil Potash aims to beat Russian, Canadian suppliers on price

Oil prices drop amid rising inventories, diplomatic push for Gaza ceasefire

UPDATE 1-Australia's Meteoric signs preliminary deal with Neo Performance to supply rare earths

Exclusive-Near-record high LME prices a magnet for Chinese copper exports

Hyundai Motor Group plans hybrid cars for India in strategy shift, sources say

Qualcomm results suggest supercycle is on the horizon: Analyst

WRAPUP 1-Shift to new models, weak demand hit Europe's automakers

Volkswagen’s electric car orders double in Europe

Oil prices rebound on hopes US will replenish strategic reserve

StanChart profit beats forecasts as income boost outweighs credit losses

China Releases CGI Video of Moon Base and It Contains Something Very Strange

Police in violence-hit Indian state led women to mob which stripped and raped them, probe agency finds

Xi Jinping’s vast gold war chest could let him take Taiwan without a fight

A 17-year-old girl was fatally shot while walking home in Long Beach. Police release video of a suspect

Stay away from these markets & hawker centres scheduled for spring cleaning in May 2024

Jamie Carragher names the manager Liverpool should have 'considered' before Arne Slot

Wang Wang Crispy Curry Puff: Addictive curry puffs from Old Airport Rd opens new outlet