No market has been left untouched by the coronavirus crisis. The bulk commodities market also has seen prices plunging and demand declining, but iron ore prices have bucked this trend and have remained steady. Australian iron ore companies such as BHP have had a good run in the last one year duet to disruptions in supplies from Brazil and tropical storms, which have driven up demand and the prices too.
The iron ore benchmark only dipped to a three-month low compared to aluminum and copper prices, which have dropped to a 5-year low. The iron ore benchmark has been hovering around $80 per tonne. Experts say that only 8 percent of iron supply has been hit by the pandemic, whereas other minerals have seen a 25 to 50 percent hit.
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Architects Pick Their Favorite Building Material
Henry Ford, the father of assembly-line manufacturing, had a saying: âAny customer can have a car painted any color that he wants so long as it is black.â
POWERFUL WOMEN IN FINANCE
The coronavirus is not only a public health crisis of magnitude â itâs also a looming reshuffle of the global economic order. Leading through the pandemic and economic crisis is not a minor accomplishment, but the events of this past year havenât stopped the 10 trailblazers who make up Industry Leadersâ Most Powerful Women in Finance list.
GERMANY ADOPTS NEW LAW TO HASTEN THE END OF COAL PLANTS
A new climate law adopted by Germany requires that all coal-fired power plants be shut down before the promulgated 2038 deadline. In January 2020, the German government had negotiated a deal worth â¬40 billion to phase out coal power by 2038, but now it seems the country is in a hurry to end its dependence on coal power due to urgent climate concerns.
IRS AND JUSTICE DEPARTMENT INVESTIGATING CRYPTO EXCHANGE BINANCE
Singapore-based Binance was co-founded in 2017 by Changpeng Zhao, and is the largest cryptocurrency exchange in the world. The US Commodity Futures Trading Commission (CFTC) is probing money laundering and tax-related offenses on the platform by any US citizen. They are investigating whether any illegal trading of derivatives linked to digital tokens was done. The United States residents can only purchase these kinds of products from firms registered with the CFTC.
GEN Z ANGELS
INVESTORS SEEM TO BE GETTING YOUNGER AND YOUNGER.
Biggest AI Talent Grab of the Year
In a post-COVID-19 world, the role of Mergers and Acquisitions (M&A) will be redefined. Companies striving to defend their existing markets and accelerate recovery are looking at a wide range of strategies such as alliances and partnerships. In addition, deal-makings now have to reflect the new environmental and societal priorities of the post-crisis world, which include making organic changes like going virtual, remote collaborations, and potentially less inperson networking.
POSTWAR BOOM
PANDEMIC BRINGS GOOD SALES GROWTH FOR LUXURY CAR BRANDS
GOOGLE PLANS TO BUILD A COMMERCIAL QUANTUM COMPUTER BY 2029
Google is confident it can build a commercial-grade quantum computer by 2029. The search engine giantâs chief executive Sundar Pichai announced the plan to build a quantum computer during the Google I/O stream. To follow through on this ambitious journey is an important milestone in the form of a new Quantum AI campus in Santa Barbara, California, where Google engineers and scientists will be hard to work to build the worldâs first commercial quantum computer.
BEYOND THE STARS
The dream of space tourism is alive and well.
2021 SEMICONDUCTOR CHIP SHORTAGE
The semiconductor chip shortage is far from over but this hasnât stopped governments around the globe from getting creative to move production ahead. The impact of the chip crisis on the automotive market has been debilitating, resulting in competition between automakers and electronics manufacturers.
