Trump is going to pitch his massive tax plan as ‘unrigging the economy’

    29 Aug by Tags:

    Indonesia cheers Freeport ‘win’ as Grasberg valuation fight looms

    Indonesia's government left no doubts as to who it believes got the better deal in its landmark agreement with Freeport McMoRan Inc (FCX.N) on the future of the Grasberg copper mine. After Freeport agreed to divest a 51 percent stake in Grasberg, the world's second-biggest copper mine, Indonesia's Energy and Finance Ministries posted on social media #FreeportTaatIndonesiaBerdaulat, or "Freeport is obedient, Indonesia is a sovereign state". The bombastic statement illustrates Indonesia's view that the dispute with Freeport over the mine was all about asserting the country's rights to its mineral resources.


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    29 Aug by Tags:

    Crude slips, gasoline jumps as storm shuts a fifth of U.S. fuel output

    Crude oil slid and gasoline futures hit their highest since mid-2015 on Wednesday as flooding and damage from Tropical Storm Harvey shut over a fifth of U.S. refineries, curbing demand for crude while raising the risk of fuel shortages. Refineries with output of 4.1 million barrels per day (bpd) were offline on Tuesday, representing 23 percent of U.S. production, Goldman Sachs said. "It will be a while before operations can return to normal and the U.S. refining industry is bracing itself for an extended shutdown," Stephen Brennock of oil broker PVM said.


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