Glencore PLC and glut

Glencore PLC is considering a further reduction of coal mining in an attempt to deal with a glut on the market, which led to a record drop in raw material prices. In a rare public statement, the head of the company in the field of coal assets said that coal is an important part of…

Bank of England News

Central Bank of the United Kingdom expected keep interest rates unchanged at today’s meeting, after data showed that consumer prices fell yoy in April, for the first time in over 50 years. Bank of England announced that members of the Monetary Policy Committee voted for unchanged rates at a record low 0.50 percent and the…

American exchanges go red

Futures on US indexes fell significantly during today amid massive sell off of bonds, which fell to USD 3-week low. Yields on 10-year German bonds rose to its highest level this year, and that of US Treasuries reached 7-month high. European Central Bank (ECB) said yesterday it will not accept changes to its program of…