French-Mongolian Uranium Project | China Nigeria Currency Swap | UK Retailers In Distress

December 27, 2024

Market Update

  • UnitedHealth, Amedisys extend deadline to close $3.3 billion deal.

  • Stocks and dollar droop in thin year-end trade, 2024 uptrends intact.

  • US crude, product inventories likely fell last week

  • Indian Rupee posts steepest single-day loss since February 2023.

  • Shell shuts down oil processing unit to investigate leak, Singapore's port authority says.

  • Chinese bonds post best returns in decade.

French-Mongolian $1.6 Billion Uranium project to get 2028 start

Deal Delayed: France's $1.6 billion uranium mining deal with Mongolia is facing delays due to political hurdles and debates over protecting strategic resources.

Election Impact: The finalization of the agreement might be postponed until after Mongolia's elections in June.

Negotiator Change: The departure of Mongolia's chief negotiator has further complicated the deal, requiring a redraft of the agreement.

Global Demand: The deal is crucial for France to diversify its uranium supplies amid rising global demand and recent supply setbacks in other countries. [Learn more]

China and Nigeria renew currency swap to boost bilateral trade

Renewed Agreement: Nigeria and China have renewed their bilateral currency swap agreement.

Value and Duration: The agreement is valued at 15 billion yuan (approximately 2.09 billion U.S. dollars) and is valid for three years.

Financial Cooperation: The renewal aims to strengthen financial cooperation, expand the use of both currencies, and facilitate bilateral trade and investment.

Mutual Consent: The agreement can be renewed upon mutual consent after the initial three-year period. [Learn more]

Critically distressed UK retailer numbers surge

Increase in Distressed Retailers: The number of UK retailers in critical financial distress surged by 25% in the last quarter.

Economic Challenges: Factors such as weaker-than-expected retail sales, higher operating costs, and consumer confidence issues are contributing to the distress.

Sector-Specific Impact: General retailers are experiencing a 29% increase in distress, while food and drug retailers saw a 17% rise.

Future Outlook: Report warns that the retail sector will continue to face significant challenges in 2025. [Learn more]

Joke of the Day!

Why was the broom late for work?

It over-swept!

Generative AI Photo of the Day!

Credit: DALL-E 3

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