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Real-time News
November 10th - On November 9th local time, the Federal Aviation Administration (FAA) reported that more than 15 air traffic control centers in the United States reported staff shortages that day. The FAA announcement indicated that some facilities at some of the busiest airports in the U.S., including New York, Washington D.C., Atlanta, Dallas, and Chicago, were affected. It is understood that staff shortages may force air traffic control agencies to reduce the number of flights at certain airports to maintain safety, potentially causing widespread delays.On November 10th, Goldman Sachs stated that a growing number of US investors are buying Japanese stocks, particularly those focused on technology and artificial intelligence, attracted by their strong returns relative to US stocks. Bruce Kirk, Goldman Sachs chief Japan equity strategist, said, "The pace of US capital inflows has reached its fastest level since Abenomics." He added that active participation by US investors in Japanese equities has reached its highest level since October 2022. This influx of US funds reflects the strong performance of Japanese equities this year, boosted by the appreciation of the yen and optimism surrounding Sanae Takashis stimulus policies. In dollar terms, the Nikkei 225 index has risen approximately 30% this year, far exceeding the S&P 500s 14% gain. Kirk believes there is still room for further foreign capital inflows, as global investors net holdings in Japanese equities remain well below the peak levels seen during "Abenomics," and continued global investors need for asset diversification may also support this trend.On November 10th, the Ukrainian State Electricity Company announced that due to Russias continued attacks on Ukrainian energy facilities, most regions of Ukraine will experience 24-hour power rationing on November 10th. The company stated that the rationing will last from midnight to 11:59 PM, and industrial users power consumption will also be limited during the same period. The Ukrainian government also urged the public to conserve electricity during peak hours.On November 10th, Bezoss space company Blue Origin planned to launch its New Glenn rocket from Cape Canaveral, Florida, on Sunday, a key test in the startups path to challenging SpaceXs dominance. The approximately 97.5-meter-tall rocket will carry two spacecraft built by Rocket Lab to Mars. This mission marks New Glenns first mission for NASA. New Glenn successfully completed its maiden flight in January, reaching orbit, but its boosters failed to land. Similar to SpaceXs Falcon series, New Glenn is designed to be partially reusable, with boosters capable of multiple launches, thus reducing costs.On November 10th, New York Federal Reserve President Williams stated that financial pressures faced by low- and middle-income Americans could threaten the resilience of the U.S. economy, even as wealthier families benefit from the stock market boom. In an interview, Williams said the Feds December interest rate decision "will be a balancing act." He noted, "Inflation remains high and shows no signs of declining," but the U.S. economy "still exhibits a degree of resilience." Nevertheless, many Americans are still struggling with housing and living costs. There are signs that "low- and middle-income families are facing some constraints in terms of affordability," posing a risk to consumer confidence and spending. Williams also rejected calls to modify the Feds benchmark interest rate mechanism, stating that expectations of productivity gains driven by artificial intelligence are supporting the market, but he is concerned about potential over-investment and a stock market bubble.

Peruvian Protesters Consent to Participate in Negotiations on MMG's Closed Copper Mine

Charlie Brooks

May 07, 2022 09:34

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Indigenous communities protesting the Las Bambas copper mine in Peru have agreed to meet with government and industry representatives on Saturday to discuss the disagreement that has led to the temporary closure of the project.


Las Bambas in southern Peru, owned and operated by China's MMG Ltd, produces 2 percent of the world's copper and contributes significantly to Peru's economy, accounting for around 1 percent of the country's gross domestic product.


The two protesting communities of Fuerabamba and Huancuire, whose members began camping on mine land in mid-April, affirmed in a document obtained by Reuters that they will participate in negotiations. They propose that they should take place outside of the surrounding area where a state of emergency has been declared.


MMG refutes the communities' claims that the firm has not met its social investment obligations.


In a letter to Prime Minister Anibal Torres, the leaders of the two groups stated, "As a demonstration of our true desire for dialogue, we affirm our participation in the meeting."


This week, community leaders stated they would not attend any meetings unless the emergency status for the area surrounding the mine was withdrawn, but Torres denied their request.


Police unsuccessfully sought to remove Huancuire community members last week, while Fuerabamba residents were expelled days earlier.


The state of emergency, which was declared at the end of April, curtailed civil liberties, including the rights to gather and demonstrate.


Fuerabamba was relocated a decade ago to make room for Las Bambas, but continuous protests and obstacles have since halted production at the profitable mine.