Shares of Ivanhoe Mines fell more than 12 percent on Monday after Mongolia said it plans to renegotiate a landmark deal related to the development of the huge Oyu Tolgoi copper-gold project.
Silver prices, which have lost more than a quarter of their value in the last four trading sessions, clawed back Monday into positive territory as bargain hunters took advantage of the white metal's recent discount.
Stocks rose in a choppy session on Monday on optimism Eurozone officials would develop plans to slash Greece's debts and recapitalize European banks in the latest effort to tackle the region's debt woes.
Stocks were mixed in volatile trading on Monday as Eurozone officials played down reports of plans to slash Greece's debts and recapitalize European banks to cope with the fallout and after a decline in U.S. home sales.
Gold will continue to serve as a hedge against risk on a longer-term basis despite recent falls, given the lack of other safe-haven assets to protect investors against global economic uncertainty, a manager at Stenham Asset Management said.
Gold's toppling from record highs, culminating in Monday's unprecedented $120 price plunge, has investors asking whether a decade-long bull run is over. History would suggest that while gold has taken a beating, it is far from down and out.
Deficit hawks urging the government to trim pensions for federal workers could start with the $600 million that has flowed to dead workers over the last five years.
UBS investors welcomed the Swiss bank's choice of caretaker chief executive, Sergio Ermotti, on Monday after Oswald Gruebel resigned in the wake of a $2.3 billion rogue trading scandal and cleared the way for a major overhaul of the investment bank.
UBS has said that Sergio Ermotti will be the caretaker chief executive following the resignation of Oswald Gruebel last week.
LightSquared will be running an open letter from its CEO Sanjiv Ahuja in major US newspapers on Sept. 26, explaining its position over the controversy surrounding its LTE (long-term evolution) network, specifically concerns about its interference with GPS (global positioning system).
The Mongolian government will seek to accelerate the timetable to increase its stake in the country's giant Oyu Tolgoi copper-gold project to 50 percent, Mining Minister Dashdorj Zorigt said on Sunday.
Spot gold fell 5.2 percent and silver dropped by the most in three years, extending Friday's rout as investors bolted for the ultimate safe havens of cash and the dollar.
Global mining giant Rio Tinto will respond to any request from the Mongolian government to discuss its investment in the country's giant Oyu Tolgoi copper-gold deposit, but still expects the original 2009 agreement to be honoured.
China's economic outlook is positive, but it must keep battling inflation and be ready to counteract any external shocks, the country's top central banker said on Saturday.
Even as G-20 leaders grapple with the global financial crisis, a larger, over-arching concern is limiting GDP growth in the U.S., and, to a lesser degree, in other developed economies and, by extension, decreasing the capacity of the these nations to counteract the crisis: inadequate wage growth.
In the first half of 2011, the United States registered two straight quarters of sub-par GDP growth, and the risk of a double-dip recession has increased. With consumer spending and business investment lagging, that leaves it up to the public sector to fill the gap. Accordingly, here are five programs to increase U.S. GDP growth.
Due to the lingering government debt crisis in Europe and a 9.1 percent U.S. unemployment rate, key economic statistics are pointing to slow-growth conditions in the U.S. for the next two quarters, and a double-dip recession is possible. Is there anything Congress can do to create jobs and get the U.S. economy moving again?
Adoboli is hardly the first UBS employee to engage in questionable conduct.
Obviously, the pressure got to him and he made a sudden turnabout.
Bank stocks are clearly trading as if a redux of Lehman Brothers is imminent.
The Dow Jones industrial average on Friday suffered its worst week since the depths of the financial crisis in 2008, stung by severe anxiety over Europe's spiraling debt crisis and a warning from the Federal Reserve about the U.S. economy.
The CME Group, the world's largest commodities exchange, raised its margin requirement on trading 100-ounce gold futures by 21.4 percent, the third rise since July.
