2025-08-18 23:30
SAO PAULO, Aug 18 (Reuters) - Global miner BHP (BHP.AX) , opens new tab has agreed to sell copper assets in Brazil to CoreX Holding for up to $465 million, it reported alongside its earnings on Monday. BHP has entered into a binding agreement with CoreX for the sale of the so-called Carajas assets, BHP said, noting the transaction is expected to be completed in early 2026. Sign up here. CoreX did not immediately respond to a request for comment. "This transaction follows a strategic review in 2024, which concluded that the Carajas assets would benefit from owners prioritizing the operations and developing the assets to their full growth potential," BHP said. Carajas produced 9,400 metric tons of copper in the 12 months through June, according to BHP. Under the agreement, BHP will receive $240 million on the deal's completion and up to $225 million as contingent payments that could begin as early as 2027 based on a range of production and project-related targets. https://www.reuters.com/world/americas/bhp-sells-copper-assets-brazil-corex-up-465-million-2025-08-18/
2025-08-18 23:02
Aug 19 (Reuters) - Australia's Woodside Energy (WDS.AX) , opens new tab recorded a 24% fall in its first-half profit on Tuesday, mainly due to lower average realised prices and depreciation costs associated with its Sangomar oil project in Senegal. The company's average realised price for its products was $61.8 per barrel of oil equivalent during the first half, compared with $62.6 pboe last year. Sign up here. Meanwhile, production costs, depreciation and amortisation related to the Sangomar project came in at $773 million during the period. The oil and gas giant reported an underlying net profit after tax of $1.25 billion for the six months ended June 30, compared with $1.63 billion last year and in line with Visible Alpha's consensus estimates. It declared an interim dividend of 53 cents per share, lower than 69 cents declared last year. https://www.reuters.com/business/energy/australias-woodside-posts-24-drop-first-half-profit-2025-08-18/
2025-08-18 22:57
MEXICO CITY, Aug 18 (Reuters) - A strong explosion rocked steelmaker ArcelorMittal's facilities in the Pacific town of Lazaro Cardenas in Mexico on Monday, the firm said. No injuries were reported and material damages were still being assessed, ArcelorMittal said in a statement. The cause of the explosion was under investigation. Sign up here. https://www.reuters.com/world/americas/steelmaker-arcelormittal-reports-explosion-mexico-plant-none-injured-2025-08-18/
2025-08-18 22:46
Three main stock indexes close near flat Trump hosts Zelenskiy, EU leaders to push Russia peace deal Solar stocks rise on 'milder' subsidy rules Dayforce surges on Thoma Bravo acquisition talks Aug 18 (Reuters) - Wall Street's main indexes closed roughly flat on Monday, after struggling for direction while investors awaited a raft of corporate earnings reports from major retailers for more signs about the state of the economy and the Federal Reserve's annual symposium in Jackson Hole. Walmart (WMT.N) , opens new tab, Home Depot (HD.N) , opens new tab and Target (TGT.N) , opens new tab, among others, are set to report results this week and are likely to indicate how trade uncertainty and inflation expectations have affected U.S. consumers. Sign up here. Investors are also closely watching the Fed's Jackson Hole, Wyoming, conference between August 21 and 23, where Fed Chair Jerome Powell is expected to speak, could offer more clarity on the economic outlook and the central bank's policy framework. Talks at the White House on Monday between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy failed to move the market significantly. "It's a quiet day, with investors getting ready for things to come," said Jed Ellerbroek, portfolio manager at Argent Capital. "The most important event is Powell's speech, as we expect updated thoughts about how the Fed is viewing this economic environment where inflation is at a fairly high level while unemployment seems to have a rising trend." Data on Friday showed that while retail sales were increasing broadly as anticipated, consumer sentiment overall had taken a hit from mounting inflation fears. On Monday, the National Association of Home Builders/Wells Fargo Housing Market Index fell to the lowest reading since December 2022. Wall Street's main indexes rallied over the past two weeks, with the blue-chip Dow (.DJI) , opens new tab hitting an intraday record high on Friday, aided by interest rate cut expectations and a better-than-expected earnings season despite an uncertain trade environment. On the geopolitical front, Trump and Zelenskiy met to discuss the future of the war in Ukraine, days after Trump's summit with Russian President Vladimir Putin which yielded no concrete outcome. Trump said he would call Putin and that it was possible the three leaders could hold a meeting. The Dow Jones Industrial Average (.DJI) , opens new tab fell 34.30 points, or 0.08%, to 44,911.82, the S&P 500 (.SPX) , opens new tab lost 0.65 point, or 0.01%, to 6,449.15 and the Nasdaq Composite (.IXIC) , opens new tab gained 6.80 points, or 0.03%, to 21,629.77. Investors continue to price in a 25-basis-point cut from the Federal Reserve next month, although they have lowered their expectations for another rate cut this year, according to data compiled by LSEG. Recent data has also suggested that while U.S. tariffs have not filtered in to headline consumer prices yet, weakness in the jobs market could nudge the central bank to take a more dovish stance. Intel (INTC.O) , opens new tab shares fell 3.66% after a Bloomberg report said the Trump administration is in talks to take a 10% stake in the chipmaker. Dayforce (DAY.N) , opens new tab jumped 26% after a report that private equity firm Thoma Bravo was in talks to acquire the human resources management software firm. Solar stocks including SunRun (RUN.O) , opens new tab and First Solar (FSLR.O) , opens new tab gained 11.35% and 9.69%, respectively, after the U.S. Treasury Department unveiled new federal tax subsidy rules for solar and wind projects, which were less strict than investors had feared. Advancing issues outnumbered decliners by a 1.16-to-1 ratio on the NYSE. There were 185 new highs and 36 new lows on the NYSE. The S&P 500 posted 9 new 52-week highs and 3 new lows while the Nasdaq Composite recorded 80 new highs and 69 new lows. https://www.reuters.com/business/wall-street-ends-muted-note-ahead-jackson-hole-summit-retailers-earnings-2025-08-18/
2025-08-18 22:15
Aug 18 (Reuters) - Figure Technology Solutions' revenue surged 22% in the first half of 2025, the blockchain lender disclosed on Monday in its U.S. initial public offering paperwork, the latest crypto-linked firm set to hit the new listings market. A crypto-friendly environment under the Trump administration and the blowout debut of stablecoin issuer Circle (CRCL.N) , opens new tab have set the stage for a flurry of listings from the digital asset industry. Sign up here. Figure joins a growing list of crypto players looking to tap public markets this year. Winklevoss twins' crypto exchange, Gemini, also filed for New York IPO last week. Figure's revenue surged 22.4% to $191 million in the six months ended June 30. The company reported a profit of $29 million, compared with a loss of $13 million in the same period a year earlier. The New York-based company and some of its existing stockholders will sell shares in the offering. "Crypto is becoming one of the big pillars of the IPO market, with more deals expected not only via IPO- but also through deSPAC transactions," said IPOX CEO Josef Schuster said, referring to companies going public through blank-check mergers. BLOCKCHAIN LENDING Figure, co-founded in 2018 by technology entrepreneur Mike Cagney, is a blockchain-native platform that powers lending, trading, and investing in areas such as consumer credit and digital assets. The company and its more than 160 partners have originated over $16 billion of home equity to date. "Blockchain can do more than disrupt existing markets. By taking historically illiquid assets – such as loans – and putting these assets and their performance history on-chain, blockchain can bring liquidity to markets that have never had such," Cagney said in the filing. "The IPO is one step in a long process to bring blockchain to all aspects of capital markets." Cagney, who was also the co-founder of fintech SoFi (SOFI.O) , opens new tab, will continue to control a majority of Figure's voting power after the offering. In 2021, Figure raised $200 million in a funding round at a $3.2 billion valuation. Goldman Sachs, Jefferies and BofA Securities are the lead underwriters. Figure will list on the Nasdaq under the symbol "FIGR". https://www.reuters.com/business/blockchain-lender-figure-technology-reveals-revenue-surge-us-ipo-filing-2025-08-18/
2025-08-18 22:03
LIMA, Aug 18 (Reuters) - Peru hopes to increase agricultural investment with a significant reduction in income tax for large export companies, the sector's minister told Reuters on Monday. The Peruvian Congress last week passed a law that reduces income tax to 15% from the current 29.5% for large agricultural exporters over the next 10 years. Medium-sized businesses would pay 1.5% income tax, while small businesses would be exempt from the tax. Sign up here. Peru expects agricultural sales to surpass mining, considered the country's economic engine, by 2050. Peru is the world's third-largest copper producer. "This will allow us to attract investment," said Agriculture Minister Ángel Manero in a telephone interview, of the new law. The country recorded $12.8 billion in agricultural exports last year, and Manero expects increased fruit shipments to drive sales to about $15 billion by 2025. The star product of Peruvian agricultural exports is blueberries, which are exported primarily to the United States and Europe. Minister Manero also highlighted the sharp increase in sales of table grapes, avocados, cocoa, and mangos. Peru has a portfolio of approximately $24 billion in largely public-private irrigation projects to expand its agricultural area, primarily on the country's coast, to more than 1 million hectares (2.5 million acres). Manero said that eight projects worth $11 billion have been launched from that portfolio. Manero noted that the next market to conquer is India, with which a free trade agreement is expected to be signed this year. Peru last week announced a new trade deal with Indonesia. https://www.reuters.com/sustainability/land-use-biodiversity/peru-hopes-attract-investment-with-tax-cuts-sustain-agro-export-boom-minister-2025-08-18/
