Market

The Bank of England's vast underground vaults hold $500 billion in gold, which has seen a recent surge in demand due to speculation of Trump tariffs. Traders have been seizing on an arbitrage opportunity by buying spot gold in London and selling futures in the US, leading to a record outflow of gold from the Bank's vaults. The logistical challenges and physical demands of moving this amount of gold have put a strain on the global gold market, with refineries and logistics companies working overtime. Despite the challenges, traders are betting on a return flight of gold to markets overseas, as the arbitrage opportunity closes.

Published on: February 20, 2025, 10:00 AM UTC

Elon Musk's DOGE commission claims billions in government efficiency savings, but analysis reveals the actual savings may be significantly lower and some of the cuts could have negative economic consequences.

Published on: February 20, 2025, 09:02 AM UTC

Palantir stock (PLTR) plunges 10% on report of Pentagon budget cuts. The Trump administration has told the Pentagon to plan for large budget cuts over the next five years, according to a Washington Post report.

Published on: February 20, 2025, 09:02 AM UTC

Fed's Bostic: Rate Cuts Still on the Table as Economy, Trump Policies Assessed

Published on: February 20, 2025, 09:01 AM UTC

A reescalating battle between pharmaceutical companies and pharmacy benefit managers is brewing in Washington, D.C., as President Donald Trump's new administration takes shape.

Published on: February 20, 2025, 09:01 AM UTC

U.S. stock futures edge lower after S&P 500 hits record high, Fed minutes signal pause in rate cuts

Published on: February 20, 2025, 09:01 AM UTC

One of Indonesia's largest nickel smelters, Gunbuster Nickel Industry, faces closure after the collapse of its Chinese parent company. Production has been slashed due to payment delays and ore procurement issues.

Published on: February 20, 2025, 09:01 AM UTC

Iron ore futures surged as robust steel consumption data fueled optimism and drove short covering. Investors anticipate increased demand for iron ore, providing relief to major producers amid a challenging property market in China.

Published on: February 20, 2025, 09:00 AM UTC

U.S. futures retreat after S&P 500 hits record high, Fed minutes show pause in rate cuts

Published on: February 20, 2025, 08:01 AM UTC

Saudi Arabia's SMC Hospitals, a leading healthcare provider, plans an initial public offering (IPO) in Riyadh, following a wave of healthcare IPOs in the kingdom. The company operates multiple hospitals and clinics and aims to capitalize on the growing healthcare sector in Saudi Arabia. The IPO is part of Vision 2030, promoting healthcare development and economic diversification.

Published on: February 20, 2025, 08:00 AM UTC