First Majestic Silver (AG) has asked Canada’s Mexican ambassador to intervene in an escalating $209 million tax dispute, reports Reuters.“We’ve been trying to get somebody to the table to finally put this behind us,” First Majestic CEO Keith Neumeyer told Reuters. The company owns seven silver mines in Mexico and wants ambassador Graeme Clark to set up a meeting with President Lopez Obrador so the dispute can be resolved.According to Neumeyer, Mexican tax authorities have rejected three settlement offers, leading the Vancouver-based company to commence a trade challenge last month.Meanwhile President Lopez Obrador recently stated that some Canadian miners are behind on their tax payments. He has asked the Canadian government to put pressure on these miners to prevent the matter proceeding to international tribunals.Shares in AG have plunged 25% year-to-date, and analysts have a cautiously optimistic take on the stock’s outlook. Its Moderate Buy Street consensus breaks down into 3 buy ratings...
Jun.15 -- To spur the restart of the French economy, President Emmanuel Macron announced a quicker end to restrictions put in place to contain the coronavirus. Bloomberg’s Maria Tadeo reports on “Bloomberg Daybreak: Europe.”...
Jun.15 -- U.K. Prime Minister Boris Johnson makes a direct intervention into the Brexit talks today. He’ll hold a video call with three EU presidents in a bid to rejuvenate attempts to find a deal. Negotiations have struggled to make progress since March with neither side shifting dramatically from their starting positions. Bloomberg’s Maria Tadeo reports on “Bloomberg Daybreak: Europe.”...
Stock market gains have further to run and investors are still under-pricing the scale of the world's coronavirus recovery, investment bank Morgan Stanley said in an outlook note. "While the last four months have been exceptional, we think that this cycle has been, and will be, more 'normal' than appreciated," said Andrew Sheets, the bank's chief cross-asset strategist. The call, made in a note dated Sunday and distributed on Monday, comes as global markets pull back from a sharp rally that has lifted world stocks about 36% from March lows....
(Bloomberg) -- U.S. stock index futures dropped in Asia as the latest figures on the pandemic deepened concerns over the global economy.Contracts on the S&P 500 declined 2.5% as of 2:45 p.m. in Tokyo. Futures on the Nasdaq 100 Index and Dow Jones Industrial Average fell 2% and 3%, respectively. On Friday, U.S. stocks rallied from the biggest rout in 12 weeks as dip-buyers emerged for firms that bore the brunt of Thursday’s selling.“There is a definite risk-off tone to Asia’s financial markets this morning as the week gets underway,” Jeffrey Halley, senior market analyst for Asia Pacific at Oanda, wrote in a note. “Despite Wall Street stabilizing and finishing the week with a positive session, it appears that the FOMO, fast-money, peak-virus, buy-everything, v-shaped recovery herd remains nervously grazing near the edge of the cliff.”An outbreak of cases in Beijing raised fears of a resurgence of the pandemic in China....
(Bloomberg) -- U.S. futures tumbled and haven assets climbed on Monday, returning markets to last Thursday’s risk-off mode, spurred by worries over a second wave of infections that could dash hopes for a v-shaped recovery.Futures on the S&P 500 slid over 2% and European contracts were down about 2%. Japanese, Australian and Hong Kong stocks also slumped, with South Korea seeing outsize losses. The dollar climbed along with the yen, and Treasuries advanced. Crude oil crumbled. The moves suggested the stabilization on Wall Street Friday in wake of a near 6% stock slide may be temporary.“We’ve gone risk-off because the reality of the U-shape pick-up” is hitting home, David Bloom, global head of foreign-exchange strategy at HSBC Holdings Plc, said on Bloomberg TV. “It’s a U-shape pick-up, and it’s going to be slow and patchy” he said of the recovery.Chinese economic data Monday showed the world’s second-largest economy had a smaller...
Jun.15 -- Dawn Soo, head of wellness at Cigna International Markets, discusses the company’s Covid-19 global impact study which studies the impact of the virus on people’s well-being. She speaks on “Bloomberg Markets: Asia.”...
