China's State-Owned Miner Joins ‘Gold Rush' to Raise Capital
Chinese gold miners have been flocking to offshore capital markets to raise funds, fueled by the precious metal's bullish outlook as prices soar to record highs.
Chinese state-owned Shandong Gold Group is the latest miner looking to cash in on the rally in gold. It is currently seeking to raise as much as $600 million in loans, after having already issued two bonds totaling $400 million last month, Bloomberg News reported.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wall Street Journal
8 minutes ago
- Wall Street Journal
Chill in U.S.-China Relations Hits Stock Listings
Wall Street's welcome mat for Chinese stock listings long transcended rocky U.S.-China relations. Increasingly, the stock market relationship is succumbing to distrust between the world's two largest economies. More than 80 Chinese companies have delisted their shares from U.S. exchanges since 2019, according to data provider Wind. Around 275 China-based companies now represent less than 2% of the capitalization of shares traded on the New York Stock Exchange and Nasdaq. The NYSE hasn't hosted a new listing from China since carmaker Zeekr went public in May 2024. Chinese initial public offerings still pour in—in fact, 2024 saw the highest number in years—but most are tiny, highly speculative stocks, not the megabillion-dollar 'red chips' of yesteryear. The 62 Chinese offerings last year raised an average of under $7 million. Some struggle to maintain the minimum 300 public shareholders, a red flag for investors that they could be risky or outright scams.
Yahoo
8 minutes ago
- Yahoo
Most Hawkish BOJ Member Flags Rate Hike Risk as Inflation Gains
(Bloomberg) -- The Bank of Japan's most hawkish member said it may be necessary to raise interest rates should inflation risks rise even if economic uncertainty lingers. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice US Renters Face Storm of Rising Costs US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags 'When the likelihood of achieving the price stability target increases, or when upside risks to prices grow, I believe that the bank may face a situation where it should act decisively, despite heightened uncertainties,' Naoki Tamura said Wednesday in a speech to local business leaders in the northeast city of Fukushima. He spoke soon after the release of a summary of opinions from the BOJ's policy meeting last week. The brief record showed policymakers saw little need to rush on their next rate hike along with a broadening view that price gains have been stronger than expected, indicating a chance the central bank could revise up its inflation forecasts at next month's policy meeting. The BOJ is waiting to see the impact of US tariff measures and how trade negotiations between Japan and the US play out, and has cited 'extremely' high uncertainty ahead in recent communications. Tamura said he doesn't expect the situation will be 'entirely cleared up.' Speaking to reporters in the afternoon, Tamura said it's unlikely the bank would raise rates while the trade talks are still underway, although the chance of a hike isn't zero if authorities fear they face the risk of falling behind the curve to address inflation. 'There is a possibility,' Tamura said. 'But the likelihood isn't that high in reality for upside prices risks to rise so much when the talks are underway.' Tamura's remarks in the morning helped strengthen the yen against the US dollar temporarily as they suggested the central bank could move earlier on rates than a majority of traders expect. In the afternoon, his comments weakened the yen as they suggested no imminent policy action. Tamura has been a consistent hawk, and at the December 2024 meeting at which the BOJ held rates steady he was the lone dissenter in favor of a hike. Governor Kazuo Ueda's board raised borrowing costs to 0.5% at the following meeting in January. On Wednesday Tamura said that recent inflation data have been stronger than expected. Japan's key price measure hit a fresh two-year high in May, leaving the Asian nation with the fastest price gains among Group of Seven economies. In a February speech, Tamura, a former senior executive at Sumitomo Mitsui Financial Group, said he estimates that Japan's neutral rate is at least around 1% and that borrowing costs need to be set around that level when the inflation target is met. The central bank currently expects to meet its sustainable inflation goal around the second half of a three-year projection period ending in March 2028. Tamura flagged the possibility it may happen sooner. 'I believe there is a good possibility that the price stability target will be achieved earlier than expected,' Tamura said. Traders are pricing in around a 30% chance of a rate hike by the October meeting and a more than 70% probability of an increase by year-end, according to overnight index swaps. (Updates with comments from Tamura's afternoon press conference from the sixth paragraph.) Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 minutes ago
- Yahoo
FedEx Corp (FDX) Q4 2025 Earnings Call Highlights: Strong Finish with Margin Expansion and ...
Revenue: Up 1% year over year in Q4. Adjusted Operating Income: Increased by 8% in Q4. Adjusted Operating Margin: Expanded by 60 basis points in Q4. Cash Returned to Stockholders: $4.3 billion in FY25. Adjusted Earnings Per Share (EPS): $18.19 for FY25. Capital Expenditure (CapEx): Reduced to $4.1 billion in FY25, lowest in over 10 years. Freight Operating Margin: 20.8% in Q4. Transformation-Related Savings: $1 billion expected in FY26. International Export Package Yield: Declined 1% in Q4. US Domestic Package Yield: Slight increase in Q4. Freight Average Daily Shipments: Up 8.3% sequentially in Q4. Share Repurchases: $3 billion in FY25. Dividend Increase: 5% in FY26. Adjusted Free Cash Flow Conversion: Nearly 90% in FY25. Debt Maturing in FY26: $1.3 billion. Warning! GuruFocus has detected 5 Warning Sign with FDX. Release Date: June 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. FedEx Corp (NYSE:FDX) achieved a solid finish to FY25 with adjusted operating income growth and margin expansion despite a challenging demand environment. The company delivered on its $2.2 billion DRIVE structural cost reduction commitment, achieving a two-year $4 billion DRIVE target. FedEx Corp (NYSE:FDX) returned $4.3 billion in cash to stockholders and reduced capital intensity significantly. The company successfully flexed its network to match demand, reducing capacity on the Asia-to-Americas lane by more than 35% in May. FedEx Corp (NYSE:FDX) is well-positioned to support customers amid evolving global trade policies, leveraging its presence in over 220 countries and territories. FedEx Corp (NYSE:FDX) faced major headwinds, including the expiration of the US Postal Service contract and volatility related to global trade policy. Higher-margin B2B volumes remain pressured, affecting both FedEx Express and Freight results. The company experienced a material headwind on its Asia-to-US lane due to escalating trade barriers, particularly from China. FedEx Freight's operating income declined due to prolonged weakness in the industrial economy. The global demand environment remains volatile, with uncertainties in trade policies impacting revenue projections. Q: Can you discuss the expected development of the $1 billion in savings from DRIVE and Network 2.0 throughout the year? A: Rajesh Subramaniam, President and CEO, explained that they anticipate $200 million of the $1 billion savings in the first quarter, with a ramp-up throughout the year. The financial returns from Network 2.0 are expected to be more significant by the end of fiscal year 2027. DRIVE savings achieved $650 million in Q4, contributing to a two-year $4 billion target. Q: How is the competitive pricing environment evolving, and what strategies are you using to manage it? A: Brie Carere, Executive Vice President and Chief Customer Officer, noted an improvement in the pricing environment, compounded by the team's focus on revenue quality. They have implemented multiple pricing strategies, including adjustments to large package pricing and fuel surcharges, resulting in yield improvements for key products. Q: Can you elaborate on the $170 million headwind from international trade impacts and how it might evolve? A: Brie Carere explained that the majority of the $170 million headwind is due to the China-to-US lane, particularly the impact of de minimis. The trade environment is dynamic, and changes are expected in the next 30 to 60 days, which will provide more clarity on future impacts. Q: How should we think about the cadence of fiscal year earnings given the headwinds and cost savings? A: Rajesh Subramaniam indicated that Q1 might have a lower weight than usual due to the USPS contract expiration and the ramp-up of cost savings throughout the year. The structural cost savings are expected to increase as the year progresses, potentially influencing typical seasonality. Q: How is Network 2.0 progressing, and what are the expected impacts on margins? A: Brie Carere stated that they are pleased with the execution of Network 2.0, with significant savings in pick-up and delivery costs. The full financial impact is expected by FY27, as initial costs are incurred to ensure service continuity during transitions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
