China's Power Demand Hits Records As Heatwave Grips Key Regions

Gold Selloff Seen As "Stop-Loss Liquidation Positioning Reset", Not Fundamentally Driven Gold’s break below key technical support of 4050 to the 4023 low in New York trading on Wednesday appears driven primarily by stop-loss liquidation and positioning rather than a material deterioration in macro fundamentals, according to UBS.  As the bank's trader Marcus Millis writes, "the move flushed out long exposure and left positioning looking more balanced, reducing the immediate risk of further forced selling." However, he cautions, the broader trading backdrop remains challenging. That's because with front-end USD rates expected to stay...

Ex-Wife In Korea's $645M "Divorce Of The Century" Gets Iced Out Of AI Boom A Seoul court has ordered SK Group Chairman Chey Tae-won to pay his ex-wife 944 billion won ($645 million), in the largest divorce award in South Korean history. And while the figure is a record, it was calculated against a stock price more than two years old - before it went ballistic in the AI boom.  Chey Tae-won, chairman of SK Group. Lee Young-hwan/Newsis/Associated Press The Seoul High Court's First Family Division, presiding judge Lee Sang-ju, issued the ruling...

Critical Metals Shares Surge 40% After Expanding Rare Earth Mining Position In Greenland Critical Metals Corp. shares have surged as much as 45% in trading today after the company significantly expanded its position in Greenland’s Tanbreez rare earth project, tightening its grip on a resource it sees as central to a US-friendly supply chain, according to Bloomberg. It marks the biggest intraday gain in half a year and lifting the company’s valuation to roughly $1.7 billion. According to documents reviewed by Bloomberg, the firm raised its ownership to 92.5% by purchasing the...