An unprecedented rise in global iron ore prices was caused by China's construction boom amid strained relations with Australia, which is the country's biggest iron ore supplier, as well as by a reduction in projected supply from Brazil. Chinese steelmakers are asking regulators to investigate for possible speculation. Iron ore prices have reached a seven-year high and continue to rise. The main...

The Chinese have been buying cars for the fifth consecutive month, including a particularly strong increase in demand for electric cars from the American Tesla group owned by Elon Musk, Bloomberg reports. Retail sales of passenger cars and SUVs in China increased by 7.8% compared to 2019. In November alone, the country’s residents bought up 2.11 million cars. Wholesale sales of electric cars...

On Monday, the American Dow Jones Industrial Average index fell back from last week's record level. Investors are concerned that the increase in Covid-19 morbidity in the US could have a negative impact on economic growth during winter. The DJIA fell 148.47 points, or 0.5%, to 3,0069.79 points, the S&P 500 dropped 7.16 points, or 0.2%, to 3,691.96 points, while Nasdaq Composite rose 55.71...

G7 noted the need to regulate the use of digital currencies, according to a statement by the finance ministers and central bank governors of the group's countries on the US Treasury website. At the meeting, G7 finance ministers and central bank governors discussed measures and strategies to achieve a sustainable global economic recovery from the crisis caused by the coronavirus pandemic. ...

The US House of Representatives, unanimously approved the bill. It amends and supplements the Sarbanes-Oxley Act 2002, which in its time increased the financial disclosure requirements for all companies whose shares are traded on US exchanges and are regulated by the Securities and Exchange Commission (SEC). The new law will require issuers to provide comprehensive evidence that they do not...

The overall food price index for November showed an increase for the sixth consecutive month, with the index itself reaching its peak in December 2014, according to a press release by the Food and Agriculture Organization of the United Nations (FAO). The FAO General Food Price Index rose to 105 points for the month, or 4 points (3.9%) by October. The index reached its highest level since December...

The Eurozone has agreed to strengthen the mechanism for resolving the situation in troubled banks, as evidenced by the decision of the Council of Ministers of Finance of the Eurozone (Eurogroup). "The Eurogroup agreed to reform the European Stability Mechanism (ESM), to sign a revised agreement (on its work) in January 2021 and to launch the process of its ratification," - reads a statement after...

The European Parliament has finally approved the first EU-USA customs reduction deal in about two decades, covering a small turnover of goods, the EP said. "Parliament supported the agreement with 638 votes in favour, 45 against and 11 abstaining," a message says. The EP notes that the agreement could become the basis for the resumption of "constructive transatlantic cooperation". This...

Gold quotations declined to July, approaching $1.8 k/oz. This is happening against a backdrop of reduced investment by institutional investors. In particular, total gold ETF assets fell to a three-month low of 3.39 thousand tonnes at the beginning of the week. Success in developing coronavirus vaccines and strong US economic data is reducing the need for large-scale monetary stimulus, which is...