Freeport targets full capacity at Grasberg by the end of 2027
Freeport-McMoRan says the recovery of the underground Grasberg Block Cave mine in Indonesia is proceeding according to plan after last year’s fatal mudslide. Capacity is expected to reach 80 percent in mid-2027 and approach full levels by year-end, Reuters reports. The company expects copper sales of 750 million pounds and gold sales of around 100,000 […]
Hassett: More energy announcements expected next week
White House economic adviser Kevin Hassett says that more announcements in the energy sector are expected next week. Bloomberg News reports. Hassett also said that shipping through the Strait of Hormuz has reopened and that crude oil is flowing again, with the exception of Iranian oil. He described the US economy and consumer as strong […]
Nike: BofA repeats Underperform – cuts price target to 24 dollars
Bank of America repeats Underperform for sportswear company Nike and cuts its price target to 24 dollars from 30 dollars. Weak sales in Sportswear, Jordan and China are expected to persist into 2028. Nike guides for a high-single-digit sales decline in 2027 and earnings per share of 1.15–1.35 dollars, versus consensus of 1.67 dollars. BofA […]
Stellantis halts production in Canadian Windsor for three weeks
Automaker Stellantis is halting production at the assembly plant in Canadian Windsor during the weeks beginning October 19 and 26 and November 2, 2026, according to a notice published by the local union Unifor Local 444 on X. Production employees should not report to work unless their supervisor tells them otherwise. The schedule for skilled […]
Eaton: BofA reiterates Buy and $490 price target
Bank of America reiterates its Buy rating on industrial conglomerate Eaton with a $490 price target and raises the valuation multiple to 25 times expected 2027 EV/EBITDA, from 24 times, against the backdrop of improved visibility in data centers. Demand in Electrical is expected to remain strong, supported by data centers, the power grid and […]
Skydance to be name of merged Paramount and Warner Bros
The merged Paramount and Warner Bros will be called Skydance, CEO David Ellison writes on X. According to the company, Paramount and Warner Bros will retain their separate identities and brands, while Skydance will be the group’s common name. The ambition is to give the studios greater scale and capacity to produce more stories and […]
Standard Chartered expects ECB hike in December
Standard Chartered now expects the ECB to raise the deposit rate by 25 basis points to 2.75 percent in December, after previously expecting the rate to remain unchanged. Investing.com reports this. The forecast change follows higher-than-expected inflation in the euro area in September, mainly driven by energy prices, while the economy has shown greater resilience […]
Report: UK considering cuts to energy programmes to fund defence – BN
The UK is considering cutting the 15 billion pound Warm Homes Plan to free up money for increased defence spending. Bloomberg News reports this, citing sources. Initiatives involving carbon capture, storage and hydrogen are also under review. The Department of Energy has been tasked with finding additional savings of 2 billion pounds by the end […]
Telecom operators win contracts for new Swedish emergency communications network
Telecom operators Tele2 and Telenor have, through the jointly owned network company Net4Mobility, signed framework agreements with the Swedish Civil Defence Authority for a mobile network for Sweden’s new emergency communications network SWEN, which will replace Rakel. Telia has also signed an agreement with the authority. SWEN will give, among others, the police, emergency services, […]
Colombia renegotiates Gripen contract with Saab – Sveriges Radio
Colombia and Saab are renegotiating the contract for the country’s purchase of JAS 39 Gripen aircraft, the head of the Colombian Air Force says, according to Sveriges Radio. Colombia’s president Abelardo de la Espriella has wanted to review the agreement since taking office this summer; it was signed under his predecessor. The air force chief […]
