BUSINESS
Copper rallies to record near $13,000 in London after UK holiday
Investors have piled into copper in December on speculation that huge flows of metal to the US will leave the rest of the world short next year.
MARKETS
Stocks hold near record, silver falls from peak
A gauge of Asian shares gained 0.2% in early trading, while US stock futures were steady after the S&P 500 finished near an all-time high on Friday. Silver rallied 6%, pushing beyond $80 an ounce for the first time, before reversing the gains and falling more than 2%.
WORLD
Zelensky heads to US to meet Trump as Russia bombards Kyiv
More than 500 drones and 40 missiles — including Kinzhal hypersonic weapons — were launched in strikes that continued long into Saturday
BUSINESS
Russia extends temporary gasoline-export ban through February
The Russian government also extended the ban through the same date to export diesel, marine fuel and other gasoils for non-producers
WORLD
China issues draft rules to govern use of human-like AI systems
China is advancing AI as a strategic industry, investing heavily in new technologies to drive economic growth and global competitiveness
BUSINESS
Coinbase says former agent arrested in India over exchange hack
In May, the company said hackers bribed contractors or employees outside the US to steal sensitive customer data and demanded a $20 million ransom, in one of the most high-profile security breaches of a crypto trading platform.
BUSINESS
Dollar caps worst week since June with focus on data ahead
The Bloomberg Dollar Spot Index was steady on Friday and fell some 0.8% this week. It has declined around 8% this year, which would be its steepest annual drop since 2017.
BUSINESS
Gold and silver smash records again as rally gathers momentum
Frictions in Venezuela, where the US has blockaded oil tankers and ramped up pressure on the government of Nicolás Maduro, have added to the precious metal’s haven appeal.
COMMODITIES
Gold, silver jump to record highs on geopolitics, weak dollar
Gold has gained around 70% this year and silver more than 150%, with both metals on track for their best annual performances since 1979.
MARKETS
Stocks edge up in thin trade, silver hits record
The MSCI Asia Pacific Index extended its year-end rally, rising for a sixth consecutive day. US shares closed at a record high on Wednesday and most markets in Asia, the US and Europe were closed Thursday for Christmas Day.
BUSINESS
Sanctions delay Russia’s plan to triple LNG output, Novak says
Russia earlier aimed to produce 100 million tons of super-chilled fuel by 2030, reaching a global market share of 20%.
WORLD
Ukraine says it hit Russian gas processing plant, oil refinery
Long-range UAVs successfully hit the Orenburg gas processing plant, about 1,050 miles (1,700 km) east of Kyiv
BUSINESS
China silver fund plunges after string of moves to quell frenzy
After the fund hit its upward limit of 10% for three straight days this week, UBS SDIC Fund Management Co. tightened the rules on Wednesday evening.
WORLD
US chased oil tanker away from Venezuela amid blockade
A US official said the Coast Guard has not given up its pursuit of the tanker, and that there is a judicial seizure order on it.
BUSINESS
Toyota posts rare sales drop in November, dragged down by China
Global sales — including at subsidiaries Daihatsu Motor Co. and Hino Motors Ltd. — fell 1.9% in the period from a year earlier to 965,919 units, the Japanese carmaker said Thursday. Production shrank 3.4% to 934,001 vehicles.
BUSINESS
China’s central bank signals steady, cautious support for growth
The statement didn’t mention a reduction in interest rates or to the reserve requirement ratio, which determines how much cash banks must keep in reserves, while the PBOC pledged to make use of multiple policy tools.
WORLD
Southern California in ‘Great Danger’ from Christmas floods
The state has pre-positioned emergency response resources across the state, including 55 fire engines and 10 swiftwater rescue teams, to protect communities from the dangerous winter storms, according to a statement from Newsom.
BUSINESS
Gold steadies as traders book profits after rally to record
Technical indicators supported the selling. Gold’s 14-day relative strength index was in overbought territory Wednesday, a warning that the price could be due for a pause or pullback.
MARKETS
Nvidia reaches technology licensing deal with startup Groq
The world’s largest publicly traded company has paid for the right to use Groq’s technology and will integrate its chip design into future products.
MARKETS
Stocks hit highs as ‘Santa rally’ countdown begins
Investors hoping for a “Santa Claus Rally” — which typically encompasses the last five trading days of the year and the first two of the new one — saw the S&P 500 rising in a shortened session ahead of the holiday. The dollar barely budged.
BUSINESS
US rare earth buyers still see China curbs despite Trump deal
The Trump administration has made developing domestic production capacity for permanent magnets and other rare earth products a key priority after China spent years building a global monopoly.
BUSINESS
Intel shares fall on report Nvidia halts production test
Nvidia recently tested the so-called 18A process but stopped moving forward, Reuters reported, citing two unidentified people familiar with the matter.
BUSINESS
Honda to buy LG battery assets in Ohio for $2.9 billion
Honda and LG Energy announced a $4.4 billion investment plan in 2022 to build EV batteries in Ohio, with mass production slated to start at the end of 2025.
BUSINESS
Bank of America trader says India state debt deluge will worsen
States are likely to borrow $50.2 billion in the three months through March, a 60% jump over the current quarter, according to estimates by Vikas Jain, head of India fixed income, currencies and commodities trading.
