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Anglo-Teck Merger Approved: Promise and Peril for Canada’s Mining Sector

  Federal Industry Minister Mélanie Joly has approved a merger between Teck Resources Ltd. and Anglo American PLC.   Canada’s federal government has officially approved the $53 billion merger between Teck Resources Ltd. and Anglo American PLC , creating one of the world’s largest copper producers. Industry Minister Mélanie Joly hailed the deal as a “significant win” for Canada, emphasizing legally binding commitments that include relocating the new company’s headquarters to Vancouver and investing at least C$4.5 billion over five years , rising to C$10 billion over 15 years . The newly formed entity, Anglo-Teck , is expected to become a global heavyweight in copper production, a critical mineral for electrification and clean energy technologies. Shareholders from both companies overwhelmingly supported the merger, which was fast-tracked under the Investment Canada Act , signaling Ottawa’s shift toward a more pro-business stance in the mining sector. Yet, despite Joly’s op...
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S&P 500 and Nasdaq Set to Jump as Nvidia Surge Continues


US stock indexes are poised for gains early today as Nvidia’s record-breaking surge continues. The tech-heavy Nasdaq Composite futures lead the way, up about 0.7%, while S&P 500 futures point up around 0.4%. This follows the S&P 500’s 31st record close of the year on Tuesday.

Nvidia’s meteoric rise has captured investors’ attention, with its stock up more than 170% so far this year. Just two weeks after dethroning Apple as the No. 2 most valuable company, Nvidia now claims the title of the world’s most valuable public company, surpassing Microsoft.

Elsewhere, global central banks are in focus, with the Swiss National Bank cutting rates for the second time this year. The Bank of England maintains its benchmark rate at a 16-year high but signals a potential rate cut in the summer. In the US, traders continue to bet on a Fed rate cut by September.

Keep an eye on weekly jobless claims data today for further insights into the macroeconomic landscape.


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