BHP's Fourth-Quarter Iron Ore Output Rises 2%; Copper Also Up
Production of the key steelmaking ingredient reached 70.3 million tons in the three months to June 30, BHP said in filings Friday. That took its output in its fiscal year to 263 million tons, near the top of its guidance range.
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Forbes
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- Forbes
Why Business Financial Literacy Is The Secret To Making More Money
Notebook with marks about financial literacy. Chances are you started your business to create freedom, impact, and wealth. But here's what many entrepreneurs learn too late in the game: if you don't understand your numbers, your business will never reach its full earnings potential. Your business is a financial asset that can make you a lot of money, so you want to know business financial literacy. Business financial literacy isn't about becoming an accountant or spending hours buried in spreadsheets. It's about knowing where your money comes from, where it's going, and how much is left as profit. Business financial literacy helps you make smarter, more profitable business decisions. When you understand what your numbers are telling you, you can confidently manage your business through profitable pricing, expense management, sales, and knowing that you don't have a constant fear of running out of cash. What Is Business Financial Literacy? Business financial literacy skills help you understand and manage the financial health of your business. It's knowing how to read your profit and loss statement, track cash flow, create and follow a monthly budget, and use your financial data to help you make smarter and more profitable business decisions. It's learning the language of money that helps you spot opportunities and make decisions that directly lead to more profit. A common misconception is that financial literacy is only important to accountants and financial people. Many small business owners also think that they can put off financial management or figure it out later after they grow their business or make more money, but financial literacy skills will help you get there faster. Without this skill, you are guessing at prices, unaware of hidden costs, and risking the stability of your business. When you have business financial literacy skills, you're in control of your business. You can confidently plan, grow, and pay yourself what you deserve. Why Business Financial Literacy Is The Secret To Making More Money Financial Illiteracy Is Expensive Not understanding your business numbers can leave you making decisions based on gut feelings over data and facts, and that is risky. You could be undercharging your offer and losing money, or you could hire too quickly with the assumption that your revenue is growing, only to face a cash shortage shortly down the road. The biggest threat to a business is running out of cash. This can happen even when sales are strong, because revenue does not equal cash flow. You need to have a handle on your numbers to understand your cash flow. The hidden cost of financial avoidance can add up fast. Without financial clarity you might overspend on items that don't give you a return on your investment. Guesswork doesn't cut it in business and every financial misstep caused by financial uncertainty chips away at your profit and confidence. The Connection Between Confidence and Cash Flow Financial confidence comes with financial clarity. When you know your numbers, you are no longer guessing in your business. You make informed decisions that lead to profit. You make decisions based on financial data. Financial literacy empowers you to expand your product line, launch into new markets, negotiate better deals, secure funding, and so much more. When you understand your profit margins and cash flow, you can confidently invest in the growth of your business. How to Improve Your Financial Literacy (Without Overwhelm) Improving your financial literacy doesn't have to feel overwhelming. You can start with a few simple habits and tools, you can build the knowledge and confidence needed to make smarter, more profitable decisions. Here are four practical ways to begin: Focus on your profit, cash flow, and sales targets. These three numbers give you a clear picture of your business's financial health and help you make smarter, more profitable decisions. Review your financial statements, even if it's just your profit and loss (P&L) statement. Regularly checking your numbers will help you identify trends, spot problem areas early, and plan for growth. If you're unsure how to interpret your numbers or set financial goals, a fractional CFO or coach can help you create a strategy to increase profit and stability. There is financial software that can automate tracking, send alerts, and provide actionable insights so you always know where your business stands financially. The bottom line is that financial literacy is one of the most powerful business skills you can have as a business owner. When you understand your numbers you gain financial clarity, confidence, and control over your financial future. Start with small steps, stay consistent, and remember that every number you track brings you closer to building your wealth and financial freedom.
Yahoo
38 minutes ago
- Yahoo
OPEC Is Playing The Long Game
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Yet others claimed OPEC in general and Saudi Arabia specifically are trying to please Trump—by hurting some of his biggest donors. OPEC itself has not endorsed any of these versions of events. The fact remains that OPEC is reversing the cuts, boosting oil supply—but prices are not tanking as so many prominent energy analysts said they would, and are still saying they would, later this year. Of course, this is because of factors unrelated to OPEC, namely geopolitical developments such as U.S.-Chinese trade talks and Canadian wildfires, as well as yet more EU sanctions against Russia. But OPEC certainly wouldn't mind these factors supporting prices, if not more U.S. rig additions. OPEC is playing for market share. This is one of the most popular explanations for the group's latest moves among analysts. After curbing production for a couple of years and surrendering market share in the process, now some of the world's biggest producers want this market share back. This is going to take a while. Bank of America's head of commodities research, Francisco Blanch called it a 'long and shallow' price war. 'It's not a price war that is going to be short and steep; rather it's going to be a price war that is long and shallow,' Blanch told Bloomberg a month ago. He went on to say the target, especially for the Saudis, is U.S. shale, which has become more resilient in recent years but is still vulnerable to lower oil prices because of its higher costs. There is also another aspect to the change in OPEC approach, as detailed by Kpler's Amena Bakr. It's about group cohesion, Bakr wrote in an analysis for The National. With so much non-compliance with the cuts, those that were compliant needed to have their concerns addressed, too. 'To restore a sense of fairness, an orderly plan to return the barrels gradually was needed to avoid a free-for-all situation that would drown the market in supply,' Bakr explained. 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Since 2020, new non-shale discoveries have averaged 2.5 billion barrels a year, the FT noted, citing a Goldman Sachs report. This is just 25% of the average annual in new discoveries for the three years prior to 2020. In other words, all the talk about non-OPEC swamping OPEC and taking the upper hand on international oil markets may have been a little premature—as may be the case of IEA demand projections. The IEA has been notoriously bearish on oil demand, repeatedly citing rising EV sales, even though these sales in the U.S. are set for a serious decline. In Europe, EV sales are on the rise thanks to the return of subsidies but how long these are going to last is anyone's guess. China is always the country everyone points to when it comes to EVs, and yet China's oil demand is still growing—although peak talk is intensifying there as well, including from its own state oil majors. In this situation, OPEC essentially does not need to do anything but sit and wait. Price-sensitive U.S. shale will slow down, lack of new discoveries will crimp the growth potential of the supermajors, and prices will rise, because peak demand does not mean a sharp drop afterwards. In fact, even if we have reached peak oil demand, the most likely next stage in demand evolution is a plateau at a level that would need to be maintained. OPEC would no doubt be happy to help do that. By Irina Slav for More Top Reads From this article on 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
Washington Post
an hour ago
- Washington Post
Months of Trump's tariffs are shifting supply chains and diplomatic ties
Major U.S. corporations and trading partners are scrambling to adapt to a new global economy, even as President Donald Trump mulls the imposition of historic tariffs in less than two weeks. Conagra Brands, owner of Hunt's, Duncan Hines and Birds Eye, plans to raise prices on canned goods after 'suffering a tremendous amount of inflation due to tariffs on tinplate steel,' its chief executive told investors this month.
