Glencore’s South African ferroalloy plant faces a Tuesday deadline to finalize a discounted electricity deal with Eskom after delaying layoffs by one week. Key terms of the proposed 62-cent/kWh tariff remain unresolved
BHP closed up 2.3% at 57.84 AUD in Sydney, marking a fifth straight gain as copper prices supported miners. Fortescue shares jumped over 3% after reporting a 23% first-half profit rise and lifting its interim dividend. BHP’s ex-dividend date is March 5, with a payout of 73 US cents per share due March 26. Iron ore price negotiations with China remain unresolved.
Plug Power shares rose 0.5% to $1.87 in premarket trading after shareholders approved doubling authorized common stock to 3 billion. The change, effective since Feb. 12, could allow new capital-raising moves. Another proposal on voting requirements failed. Investors await the company’s earnings date, expected in early March.
Glencore’s South African ferroalloy plant faces a Tuesday deadline to finalize a discounted electricity deal with Eskom after delaying layoffs by one week. Key terms of the proposed 62-cent/kWh tariff remain unresolved and need regulatory approval. Only one of three smelters has restarted since January’s tariff cut. Merafe reports a 63% drop in joint venture output and rising costs amid Chinese competition.
Lloyds and IBM completed a nine-month quantum computing test that identified a deliberately hidden money mule network using anonymized transaction data on a 156-qubit IBM system. Lloyds called it the first known quantum experiment for this purpose. UK regulators continue to press banks for stronger anti-fraud measures. HSBC ran a separate quantum pilot last year with IBM.
Barclays has repurchased about £525 million of its own shares since February, passing the halfway mark of its £1 billion buyback program. The bank bought 125.1 million shares at an average price of 419.37 pence each and will cancel them, reducing its share capital to 13.72 billion shares. Barclays will report first-quarter results on April 28.
Leaked CAD files this week revealed Apple’s foldable iPhone design, showing a wide, book-like body with two rear cameras. Reports say Apple dropped its earlier clamshell project and now targets a launch in the second half of 2026, possibly delaying the iPhone 18. The device is expected to feature a 7.8-inch inner screen and a 5.5-inch cover display. Apple faces pressure as Samsung dominates the foldable market.
National Grid has proposed a gas distribution rate increase in Massachusetts that would raise average winter heating bills by $24–$25 per month for most customers. Regulators will hear public comments Monday in Lynn, with a decision expected by Nov. 30. The plan seeks $342 million in added revenue and would take effect Jan. 1, 2027, if approved. Low-income residential customers could see bill changes ranging from a 65% decrease to a 20% increase.
Glencore faces uncertainty at its Mount Isa copper smelter as Jervois project backers consider bypassing it for refining, despite recent government support. KGL Resources, which controls Jervois, secured a $300 million streaming deal with Wheaton Precious Metals and is in talks with global traders. Processing fees have hit record lows due to Chinese overcapacity and concentrate shortages.
Blackstone is preparing a bid for HSBC’s A$26 billion Australian loan portfolio, with offers due late April, The Australian reported. Citi is managing the sale, which may attract rival bids from Apollo, Cerberus, and Ares. HSBC narrowed the sale to loans after dropping plans to sell its entire Australian retail bank. The deal’s outcome remains uncertain due to regulatory and financing factors.
Aviva shares rose 0.2% to 622.4p in early London trading Thursday after two days of declines. Aviva Investors announced a partnership with Ripple to launch tokenized funds on the XRP Ledger. The company also highlighted a faster process for smaller pension funds to complete buy-outs. Broader insurance stocks remained volatile amid market concerns over AI and weak UK economic data.
Cadence unveiled its ChipStack AI Super Agent, designed to automate chip design and verification, claiming up to 10x faster performance on some tasks. Early users include Nvidia, Altera, and Tenstorrent. The tool supports both cloud and local AI models and integrates with Nvidia’s Nemotron and OpenAI GPT. Analysts note growing competition over AI-driven chip productivity tools amid U.S.-China tech rivalry.
BHP closed up 2.3% at 57.84 AUD in Sydney, marking a fifth straight gain as copper prices supported miners. Fortescue shares jumped over 3% after reporting a 23% first-half profit rise and lifting its interim dividend. BHP’s ex-dividend date is March 5, with a payout of 73 US cents per share due March 26. Iron ore price negotiations with China remain unresolved.
Sidephone SP-01, a modular 4G candybar phone with a swappable magnetic keypad, opened U.S. preorders today at $249. Devices are set to ship in January 2026. The phone runs a stripped-down Android and features a 2.8-inch touchscreen, 4GB RAM, 64GB storage, and a 12MP camera. Price is expected to rise to $299 after launch.
M&G Plc shares fell 2.1% Monday, closing at 297 pence ahead of Thursday’s 2025 results release. Analysts expect adjusted pre-tax operating profit of £820 million, down from £837 million in 2024, and capital generation of £729 million, down from £933 million. Assets under management are forecast to rise to £372 billion. The dividend is seen edging up to 20.5 pence per share.
Android users are being misled by ads disguised as system messages, prompting them to install multiple low-quality PDF readers from Google Play, according to Android Authority. A recent case involved a fake update prompt in WPS Office, which led to repeated app installations until the original app was removed. Experts warn this tactic is also used by malware campaigns. Google’s enforcement of ad guidelines remains inconsistent.
Woodside Energy has restarted LNG and domestic gas production at the North West Shelf in Western Australia after a shutdown caused by Cyclone Narelle. Chevron’s Wheatstone LNG plant remains offline, with repairs expected to take weeks. The Australian government may trigger the ADGSM amid winter gas shortage fears. Brent crude closed at $109.03 a barrel Thursday, up 7.78%.
Shell is considering a 51% stake in the Shenandoah offshore oil field in the U.S. Gulf of Mexico, sources said, as supply concerns drive buyers to North American crude. Beacon Offshore Energy and HEQ Deepwater have started the sale process, with initial bids expected in coming weeks. Shenandoah began production in July 2025, reaching 100,000 barrels per day within 75 days. Shell declined to comment.
Intel shares fell 1.2% to $45.93 in Friday premarket trading after DA Davidson began coverage with a neutral rating and $45 price target. Thursday’s drop followed a broader tech selloff, with the Nasdaq down over 2% ahead of January’s U.S. CPI report due at 8:30 a.m. ET. Trading volume in Intel lagged its 50-day average.
Northern Star Resources shares fell 9.5% to close at A$18.96 on Thursday, extending losses after last week’s production warning. About A$207.1 million in shares changed hands, making it one of the most traded stocks on the ASX. Shares are now down 29% from March 11. The company cut its FY26 gold output forecast to above 1.5 million ounces, below its previous range.
Engadget’s new guide on adding members to Apple Family Sharing surged across tech news sites this weekend. The feature faces scrutiny after recent reports highlighted risks of abuse and control, especially in families experiencing conflict. Apple quietly updated its support page on November 3, following a Wired investigation into misuse. Family Sharing allows one organizer to manage accounts and share subscriptions with up to five others.
RELX reaffirmed its forecast for solid revenue growth and higher adjusted operating profit in 2026, citing positive momentum across the group. Shares remain down 36.3% over the past year amid concerns about AI competition, despite strong performance in legal and risk segments. The company is executing a £350 million share buyback set to finish April 22, following a £450 million round completed in March.
Glencore’s South African ferrochrome plant delayed a layoff decision to April 7 after Eskom requested more time to finalize a discounted electricity deal at 62 South African cents/kWh. Up to 1,500 jobs remain at risk as only 11 of 66 smelters operate, with electricity prices up over 900% since 2008. The Glencore-Merafe venture reported a 63% drop in 2025 ferroalloy output. NERSA approval is still required for any new tariff.
Stellantis is in early talks with China’s Leapmotor to produce electric vehicles at its idled Brampton, Ontario plant, Bloomberg reported. Stellantis shares jumped 4.1% in Milan after the news. Canada recently eased tariffs on Chinese EVs and is seeking more joint auto ventures. Stellantis owns 21% of Leapmotor and controls its international arm; Leapmotor declined comment.
NatWest Group and Sainsbury’s on Wednesday announced new financial products for Sainsbury’s customers, including instant-access savings accounts, unsecured loans, and a NatWest Nectar credit card. The rollout follows NatWest’s 2025 acquisition of Sainsbury’s Bank portfolios. Nectar members will get personalized rates, with products available through Sainsbury’s digital channels and powered by NatWest Boxed.
Amentum and Cavendish Nuclear’s joint venture Litmus Nuclear won a contract worth up to £300 million as owner’s engineer for the Wylfa small modular reactor project in Wales, supporting Rolls-Royce’s SMR technology. The deal, lasting up to 14 years, follows the UK government’s selection of Rolls-Royce SMR for the site, with the first three 470 MW reactors expected to power about 3 million homes by the mid-2030s.
Commonwealth Bank of Australia warned it may change card rewards and benefits after the Reserve Bank banned most card payment surcharges and cut processing fees, effective October 1. The RBA says the move could save consumers A$1.6 billion a year, but banks argue it threatens funding for card rewards and payment systems.