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Oil pauses as markets assess OPEC+ plans, demand concerns

LONDON, Oct 1 (Reuters): Oil prices steadied on Wednesday after falling for two days as investors weighed OPEC+ plans for a larger output hike next month, while data from the US and Asia showed signs of demand waning.Brent crude futures for December delivery were down 33 cents or 0.5 per...

Gold hits record high __

Gold prices hit a record high on Wednesday, supported by safe-haven demand as the US government shut down most operations, while growing expectations of a cut to US interest rates added to the metal's appeal, reports Reuters.Spot gold gained 0.8 per cent to $3,886.97 an ounce by 1055 GMT after...

EU to slash steel import quotas, hike tariffs to 50pc

BRUSSELS, Oct 1 (Reuters): The European Commission will propose cutting steel import quotas by nearly half and hiking duties on volumes above those levels to 50 per cent in line with tariffs imposed by the US and Canada, two sources briefed on details told Reuters on Wednesday.The measures will be...

Depleted LME zinc stocks may need a Chinese booster

LONDON, Oct 1 (Reuters): The zinc market has just woken up to the fact that London Metal Exchange inventory is now so depleted it would cover less than a day's worth of global consumption.LME time-spreads have turned volatile and the cash premium over the three-month price flared out to $60...

Ukraine raises projection for winter wheat area, boosting export prospects

KYIV, Oct 1 (Reuters): Ukraine's economy ministry has increased its projection for the country's winter wheat sowing area by 9 per cent, the deputy economy minister says, improving prospects for a boost to exports needed to help fund its defence against Russian forces.The sowing area for the 2026 winter wheat...

Airbus walks political tightrope with US, China expansion

WASHINGTON/PARIS, Oct 1 (Reuters): Airbus is set to inaugurate a second US assembly line on Oct 13, followed by expansion of a similar facility in China several days later, in back-to-back ceremonies designed to avoid falling foul of a tricky trade climate, industry sources said.The planemaker has also been negotiating...

African exports face immediate damage from lapse of US trade initiative

NAIROBI/JOHANNESBURG, Oct 1 (Reuters): The lapse of a flagship US trade initiative with Africa that expired overnight is putting scores of businesses on the continent and hundreds of thousands of jobs at risk, raising fears that even a promised extension may come too late.There is bipartisan support in Washington for...