“Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, Yvonne Man and David Ingles give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. (Source: Bloomberg)
“Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, Yvonne Man and David Ingles give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. (Source: Bloomberg)
Lundin Gold press release ( LUGDF ): Q4 Non-GAAP EPS of $0.97. Revenue of $526.6M (+54.1% Y/Y) beats by $1.51M . The mill processed 484,950 tonnes of ore at an average throughput of 5,271 tpd despite lower mill operating hours. The average grade of ore milled was 8.7 g/t with average recoveries of 88.3%. Gold production was 119,483 oz which was comprised of 78,577 oz in concentrate and 40,906 oz a...
Lundin Gold press release ( LUGDF ): Q4 Non-GAAP EPS of $0.97. Revenue of $526.6M (+54.1% Y/Y) beats by $1.51M . The mill processed 484,950 tonnes of ore at an average throughput of 5,271 tpd despite lower mill operating hours. The average grade of ore milled was 8.7 g/t with average recoveries of 88.3%. Gold production was 119,483 oz which was comprised of 78,577 oz in concentrate and 40,906 oz as doré. Gold sales totaled 124,041 oz, consisting of 81,348 oz in concentrate and 42,693 oz as doré, resulting in gross revenues of $533 million at an average realized gold price 1 of $4,299 per oz. Average realized gold price 1 includes $4,133 per oz of gross price received and a favourable impact of $166 per ounce from adjustments to provisionally priced sales. Cash operating costs 1 and AISC 1 were $947 and $1,193 per oz of gold sold, respectively. The Company generated cash from operating activities of $358 million and free cash flow 1 of $328 million, or $1.36 per share. EBITDA 1 was $364 million while income from mining operations was $373 million which, after deducting corporate, exploration, and taxes, resulted in net income of $234 million for the quarter or $0.97 per share. Outlook Gold production at FDN for 2026 is estimated to be between 475,000 to 525,000 oz based on an average throughput rate of 5,500 tpd. Head grade is estimated to average 8.3 g/t, with fluctuations expected during the year as different sections of the ore body are mined. Average mill recovery for the year is estimated at 91%. Cash operating costs 1 are estimated to range between $900 and $960 per oz of gold sold in 2026. AISC 1 for 2026 is expected to range between $1,110 and $1,170 per oz of gold sold and to fluctuate quarterly based on sustaining capital activities. Unit costs are anticipated to be higher compared to 2025, primarily attributable to increased royalties and statutory employee profit sharing resulting from the higher assumed gold price of $4,000 per oz. This assumption adds a...
Christine Lagarde said her base case is to see out her term as European Central Bank president, following a report this week that she’ll step down early. “When I look back at all these years, I think that we have accomplished a lot, that I have accomplished a lot,” she told the Wall Street Journal in an interview . “We need to consolidate and make sure that this is really solid and reliable. So my...
Christine Lagarde said her base case is to see out her term as European Central Bank president, following a report this week that she’ll step down early. “When I look back at all these years, I think that we have accomplished a lot, that I have accomplished a lot,” she told the Wall Street Journal in an interview . “We need to consolidate and make sure that this is really solid and reliable. So my baseline is that it will take until the end of my term.” The Financial Times said Wednesday that Lagarde will leave the ECB before the end of her eight-year mandate to allow President Emmanuel Macron to play a role in replacing her ahead of French elections that could usher in the far right. While the ECB insisted at the time that Lagarde is “totally focused on her mission,” in saying that she “has not taken any decision regarding the end of her term,” it suggested she’s indeed considering cutting short her tenure. Lagarde told the WSJ that she views her mission as price and financial stability, as well as “protecting the euro, making sure that it is solid and strong and fit for the future of Europe.” She declined to comment to the WSJ on the FT’s article. Lagarde has been linked with an early departure from the ECB before, but sought last June to quash talk that she’s planning to head the World Economic Forum. She told Bloomberg Television more recently that she’s “not a quitter.” Speculation ramped up again, however, following the announcement that French central bank Governor Francois Villeroy de Galhau will leave his post prematurely, before his country goes to the polls next year. Lagarde told the WSJ that the WEF is “one of the many options” she’s considering once she leaves the ECB. The prospect of a victory for Marine Le Pen ’s National Rally has Europe rushing to safeguard its most critical institutions. But moving to sidestep the consequences of election has raised concerns about the ECB’s political independence. Asked about that, Lagarde told the WSJ: “I think t...
Man and boy sit on a paved sidewalk and draw alien faces. Annie Otzen | Digitalvision | Getty Images U.S. President Donald Trump said on Thursday that he would direct the Department of Defense and other agencies to make public government files related to alien and extraterrestrial life. Trump said the files that will be identified and released will also concern unidentified aerial phenomena and un...
Man and boy sit on a paved sidewalk and draw alien faces. Annie Otzen | Digitalvision | Getty Images U.S. President Donald Trump said on Thursday that he would direct the Department of Defense and other agencies to make public government files related to alien and extraterrestrial life. Trump said the files that will be identified and released will also concern unidentified aerial phenomena and unidentified flying objects, as well as "any and all other information connected to these highly complex, but extremely interesting and important, matters." In a Truth Social post , the U.S. president said his move was based on the "tremendous interest" in the subject, without providing additional details. This comes after he accused former U.S. President Barack Obama of leaking "classified information" on aliens. "I don't know if they're real or not, but I can tell you he gave classified information," Trump told reporters on Air Force One. Obama said on Saturday in a podcast that aliens were real, "but I haven't seen them, and they're not being kept in... Area 51." "There's no underground facility, unless there's this enormous conspiracy, and they hid it from the president of the United States," Obama added. Area 51 refers to a classified U.S. Air Force facility in Nevada, and has been the center of conspiracy theories saying the U.S. government has been conducting research and using the facility for storing extraterrestrial materials and technology. Obama had previously said that the first question he wanted answered when he became president was "Where are the aliens?" After the podcast on Sunday, the former U.S. president clarified his stance on a post on Instagram, saying that the universe was so vast that the odds are good that there's life out there. However, he said that he also saw "no evidence" during his presidency that extraterrestrials have made contact with Earth." In late 2024, the Pentagon said it had seen 757 new reports of unidentified anomalous phenomena, or...
The youth minimum wage is set to rise over this parliament, but it’s putting off employers from hiring people into their first roles When Keir Starmer was 14 years old, he got a part-time job clearing stones from a local farmer’s field . At 16, Kemi Badenoch was flipping burgers and cleaning toilets in McDonald’s. Me, I waitressed at weekends from the age of 15 in an Essex pub owned by an ex-parat...
The youth minimum wage is set to rise over this parliament, but it’s putting off employers from hiring people into their first roles When Keir Starmer was 14 years old, he got a part-time job clearing stones from a local farmer’s field . At 16, Kemi Badenoch was flipping burgers and cleaning toilets in McDonald’s. Me, I waitressed at weekends from the age of 15 in an Essex pub owned by an ex-paratrooper with two formidable rottweilers roaming behind the bar, which was a life lesson all of its own. But whatever your first job may have been, there’s a reasonable chance it combined the thrill of hard cash with several mortifying mistakes and a crash course in handling stroppy customers, taking criticism more or less gracefully and moaning about it only out of earshot. Though teenage starter jobs have been in decline for decades – for reasons varying from academic pressures on sixth-formers to the rise of side hustles on Vinted that don’t show up in official statistics – everyone still has to start somewhere, even if it’s now more likely at 18 than 14. But getting that start is becoming harder than it was. Continue reading...
Wood is primary heating in 2% of homes but contributes to producing 21% of country’s wintertime particle pollution Air pollution from home wood burning is estimated to lead to 8,600 premature deaths in the US each year, according to research . Just 2% of US homes use wood for primary heating. Another 8% burn wood for pleasure, aesthetics or supplementary heating, but combined they produce 21% of t...
Wood is primary heating in 2% of homes but contributes to producing 21% of country’s wintertime particle pollution Air pollution from home wood burning is estimated to lead to 8,600 premature deaths in the US each year, according to research . Just 2% of US homes use wood for primary heating. Another 8% burn wood for pleasure, aesthetics or supplementary heating, but combined they produce 21% of the country’s wintertime particle pollution. Continue reading...
FCAS, which also involves Spain, is imploding at a high-stakes moment for Europe, as threat rises from Russia France and Germany’s plan to build a fighter jet of the future, planned to come with a swarm of drones and a “combat communications cloud”, is collapsing. Friedrich Merz , the German chancellor, said this week that the €100bn programme no longer worked for him. He insisted it was “not a po...
FCAS, which also involves Spain, is imploding at a high-stakes moment for Europe, as threat rises from Russia France and Germany’s plan to build a fighter jet of the future, planned to come with a swarm of drones and a “combat communications cloud”, is collapsing. Friedrich Merz , the German chancellor, said this week that the €100bn programme no longer worked for him. He insisted it was “not a political dispute”, but a technical one. France needs a jet that can carry nuclear weapons and launch from aircraft carriers, while Germany does not. However, the problems go back much further. Continue reading...