China is backing down from its rare earth mineral export restrictions in a surprise trade deal with President Trump. The White House announced Saturday that China will suspend the October controls on critical materials like gallium and germanium, reversing a policy that threatened to choke off supplies for everything from smartphones to electric vehicles. The move immediately halts Trump's planned 100% tariffs on Chinese goods.
The trade war just took an unexpected turn. China is rolling back its controversial rare earth mineral export restrictions in a deal that caught Washington and Wall Street off guard. The White House confirmed Saturday that Chinese President Xi Jinping agreed to suspend the October controls during a meeting with President Trump earlier this week.
The breakthrough resolves a standoff that was brewing into the tech industry's worst nightmare. China controls roughly 60% of global rare earth mining and 85% of processing capacity for materials that power everything from iPhone chips to Tesla batteries. When Beijing announced in October it would require export licenses for even small quantities of gallium, germanium, antimony, and graphite, it sparked panic across Silicon Valley boardrooms.
"We've been preparing contingency plans since the restrictions were first announced," one semiconductor executive told us on condition of anonymity. "The relief is palpable across the industry right now."
The timing couldn't be more critical. Global demand for rare earth elements is exploding as AI chips require increasingly sophisticated materials. Nvidia alone consumes millions of dollars worth of these minerals monthly for its H100 and upcoming Blackwell processors. Apple's iPhone 16 production was already facing potential delays before this deal materialized.
China's October restrictions built on earlier controls from April 2025 and October 2022, creating what industry analysts called a "slow-motion supply chain strangulation." The policy required foreign companies to navigate Byzantine licensing processes that could take months, effectively giving Beijing veto power over global tech production schedules.
Trump's response was characteristically aggressive. The administration threatened 100% tariffs on all Chinese goods if the restrictions weren't reversed, escalating what was already the most serious trade confrontation since the Smoot-Hawley era. Those tariffs would've added roughly $400 billion annually to consumer costs, according to Peterson Institute estimates.
https://www.techbuzz.ai/articles/china-suspends-rare-earth-export-curbs-in-trump-trade-deal
Apple Inc.'s (AAPL) revenue was up 8% YoY for the quarter and fiscal year ending Sept. 27, 2025. Its free cash flow surged 10.8% YoY to almost $99 billion and up 8.5% QoQ. As a result, using a 25% FCF margin and a 2.5% FCF yield metric, AAPL stock could be worth over 20% more.
That puts AAPL on a price target of $325 over the next 12 months (NTM). AAPL closed at $270.37 on Friday, Oct. 31. This article will explain the AAPL price target.
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AAPL stock - last 3 months - Barchart - Oct. 31, 2025
Strong Revenue Growth and High FCF Margins
Apple reported that its product and service revenue rose 7.94% to $102.466 billion. Moreover, its service revenue reached a record $28.75 billion, accounting for 28% of total sales. Apple has been trying to get away from its overdependence on iPhone sales, which hit an all-time high in the September quarter.
As a result, its cash flow surged. For example, free cash flow (FCF) hit $26.486 billion in its fiscal Q4 for the quarter ending Sept. 27. That was up 10.8% over last year's $23.9 billion, according to Stock Analysis.
Moreover, that FCF represented a 25.85% margin on fiscal Q4 sales of $102.466 billion. This was even after its capex spending rose 11.5% YoY.
For the full fiscal year ending Sept. 27, Apple generated almost $99 billion in free cash flow (i.e., $98.767 billion) on revenue of $416.16 billion for the year. That represented a slightly lower FCF margin of 23.74% (i.e., $98.8b / $416.2 b), due to lower Q1 and Q2 FCF margins.
As a result, we can forecast strong FCF going forward.
Forecasting FCF and AAPL Price Target
For example, analysts are now projecting that revenue for the year ending Sept. 2026 will rise 8.8% to $452.9 billion and up +5.7% for the next fiscal year to $477.97 billion.
So, the next 12 months (NTM) revenue forecast is:
(0.75 x $452.9b) + (0.25 x $477.97b) = $339.675b + $119.4925b = $459.1675 billion NTM
As a result, if we assume that the fiscal Q4 FCF margin of 25.85% persists throughout the next year:
0.2585 x $459.2 billion NTM sales = $118.7 billion FCF
That would be almost 20% higher than the $99 billion it generated for the year ending Sept. 27, 2025. This could lead to a significantly higher stock price.
For example, with Apple's $4 trillion market cap as of Friday, the FCF represents a 2.469% FCF yield (i.e., $98.767 billion FCF/$4,000 billion = 0.02469).
https://finance.yahoo.com/news/apples-free-cash-flow-surges-140002950.html
11/03/2025 07:11:34 GMT
Australian Dollar (AUD) advances against the US Dollar (USD), halting its three-day losing streak on Monday. The AUD/USD pair may continue to lose ground as the US Dollar (USD) gains amid dampening expectations of a US Federal Reserve (Fed) interest rate cut in December.
The AUD failed to draw any impact from the release of economic data from Australia and China on Monday. The TD-MI Inflation Gauge rose 0.3% month-on-month (MoM) in October, easing slightly from a 0.4% gain in September but marking the second consecutive monthly increase. Meanwhile, the annual Inflation Gauge rose 3.1%, edging higher from the previous 3.0%.
Australia’s Building Permits rose 12.0% MoM, after falling 3.6% in August and beating market expectations of a 5.5% growth. ANZ Job Advertisements fell 2.2% month-on-month in October, following a revised 3.5% drop in the previous month. This marked the fourth straight monthly decline.
China's RatingDog Manufacturing Purchasing Managers' Index (PMI) declined to 50.6 in October from 51.2 in September. The market forecast was for a 50.9 print. It is important to note that any shift in China’s economic conditions could also affect the Australian dollar (AUD), given the close trade ties between China and Australia.
US President Donald Trump said he plans to block China from accessing Nvidia’s most advanced semiconductor technology, according to CBS News. His remarks could reignite US-China trade tensions, which had eased after his meeting with Chinese President Xi Jinping last Thursday during the APEC Summit in South Korea.
Traders turned cautious ahead of Tuesday’s RBA policy decision, with the bank expected to hold rates after three earlier cuts, as Q2 headline and trimmed mean inflation stayed within the 2–3% target range.
US Dollar receives support from diminished likelihood of Fed rate cuts
Australian Dollar hovers around 0.6550 as consolidation prevails
The AUD/USD pair is trading around 0.6550 on Monday. Technical analysis of a daily chart suggests a consolidation phase as the pair moves sideways within a rectangle pattern. However, the pair is positioned slightly above the nine-day Exponential Moving Average (EMA), indicating that short-term price momentum is stronger.
The initial barrier lies at the psychological level of 0.6600, followed by the rectangle’s upper boundary around 0.6630. Further advances above the rectangle would signal a bullish bias and support the AUD/USD pair in exploring the region around the 13-month high of 0.6707, recorded on September 17.
On the downside, the primary support lies at the nine-day EMA of 0.6544. A break below this level would weaken the short-term price momentum and prompt the AUD/USD pair to navigate the region around the lower boundary of the rectangle around 0.6460, followed by the five-month low of 0.6414.
Europe's largest airline by passenger numbers says it remains cautiously optimistic it is on track to secure fare growth across its financial year as a whole.
Monday 3 November 2025 09:57, UK
Ryanair's boss has accused the chancellor of having no idea how to grow the UK economy as the airline reported that hikes to fares had delivered a 42% rise in half-year profits.
Michael O'Leary told Sky's Mornings with Ridge and Frost programme that Rachel Reeves "hasn't the rashers how to deliver growth" while taking aim at a planned rise in air passenger duty slated for next April.
He called for the hike, revealed at her first budget last October, to be reversed in her speech to the Commons on 26 November - a budget business believes could further harm private sector investment.
Money latest: A pest controller's job secrets
"Until she starts cutting these insane taxes and stop trying to tax wealth, the UK economy is doomed to continue to fail", he said.
"But, in a bizarre way, that's probably good for Ryanair's business because as people get more price sensitive, more and more of them will fly Ryanair," he concluded.
Mr O'Leary was speaking after the no-frills carrier, which is Europe's largest airline by passenger numbers, reported profit after tax for the six months to the end of September of €2.54bn (£2.2bn).
https://news.sky.com/story/ryanair-profits-climb-42-on-the-back-of-fare-hikes-13463029
Investors and analysts have spent much of the year embracing the view that the oil market, which has been in oversupply mode, is heading straight for a glut through 2026 — and that glut could reach as high as 4 million barrels per day (b/d) and depress global prices even further along the way.
That scenario is still with us, according to industry experts. But a surprise announcement last Wednesday of sanctions levied by the US Treasury against Russia's two largest oil producers has changed the calculus.
The bottom line: The oil glut — currently sitting around 1.9 million barrels per day — will almost certainly continue through 2026. But thanks to geopolitical curveballs, it may not grow to be quite as large as previously expected.
For the oil sector, a lighter glut could mean support for prices in an industry already hurting. For consumers, it could mean slightly higher-than-expected prices at the pump for gasoline, as crude oil makes up roughly half of the cost.
Futures on Brent crude (BZ=F), the global benchmark, are down more than 13% since the beginning of the year, hovering around $64. The US benchmark, West Texas Intermediate (CL=F), has done the same and is down more than 14% to trade around $60.
But the two benchmarks have spent the last six months trading relatively flat.
On the one hand, demand has remained relatively strong throughout the year. China has been stockpiling reserves beyond its domestic need, which has "soaked up a lot of the surplus" that might have otherwise pushed prices down, said Jim Burkhard, vice president of oil markets, energy, and mobility at S&P Global.
Outside of China, Middle Eastern demand for the year held firmer than expected, and India has upped its purchases as Russian crude got cheaper, said Mizuho oil and gas senior analyst Nitin Kumar.
At the same time, the OPEC+ cartel, a group of major oil-exporting countries, has raised its production targets every month for six months straight, most recently agreeing in early October to bump up production by another 137,000 b/d. There are now close to 1.4 billion barrels globally sitting on tankers at sea after a record 10-week-long run-up, and China can only hold so much oil, even as the country looks to build more storage capacity.
"In one sense, the fundamentals are healthy," Burkhard said. "But there is a wave of oil that is hitting the market now ... that's going to need to find a home."
The most recent projection from the International Energy Agency predicts that oversupply could reach an "untenable" four billion b/d in 2026, doubling the average surplus level of 1.9 million b/d between January and September.
Our Bureau
Mumbai
Indian Oil Corporation (IOC), India’s largest state-run refiner, has resumed purchasing Russian crude oil despite mounting pressure from the US government to curb such imports, Reuters and other sources report. The company has placed orders for five shipments of Russian crude slated for December arrival, purchased from suppliers not targeted by US sanctions. These include approximately 3.5 million barrels of ESPO crude, a high-quality grade shipped from Russia’s Pacific region, at prices comparable to Dubai benchmarks.
The move follows recent US sanctions imposed by the Trump administration on Russia’s two largest oil firms, Rosneft and Lukoil, along with their subsidiaries, as part of efforts to restrict Moscow’s revenue streams in its ongoing war in Ukraine. The US Treasury has given global buyers until November 21 to wind down dealings with these firms. Indian refiners had temporarily paused purchases linked to these sanctioned entities but are adapting by sourcing from non-sanctioned companies.
Indian Oil’s finance chief, Anuj Jain, stated that IOC will continue imports as long as the transactions comply with sanctions. Other Indian refiners, such as Reliance Industries and Mangalore Refinery, have also paused purchases pending legal reviews. New Delhi defends its right to buy discounted Russian oil, citing the importance of energy security in a country that imports about 86% of its crude. India has remained one of the top buyers of Russian crude, second only to China in volume share.
However, US-India trade tensions have escalated due to these purchases, with the US raising tariffs on Indian exports this summer amid demands for reduced Russian oil imports. Industry experts note that while Indian refiners continue procuring Russian oil from non-sanctioned entities, the overall share of Russian crude in India’s import basket is expected to decline as sanctions tighten and alternative sources are explored.
This strategic balancing act reflects India’s efforts to maintain energy security while navigating complex geopolitical pressures and sanctions regimes targeting Russian energy exports.
https://theindianeye.com/2025/11/02/indian-oil-buys-russian-crude-from-non-sanctioned-suppliers/
Ukraine may be behind the explosions and fires at oil refineries in Hungary and Romania. This is stated in the article of The American Conservative.
"The Hungarian media expressed fears that it was Ukraine that attacked two European countries. Many analysts have also come to the conclusion that Ukraine may be the source of the attacks," the article says.
The American Conservative recalled that the explosions occurred in Romania and Hungary — in countries that continue to buy Russian oil. In addition, incidents were recorded at enterprises that process raw materials from Russia. In particular, in Romania, an explosion occurred at the Lukoil refinery
The article also emphasizes that not only the site of the explosions turned out to be symbolic. So, the incidents at the enterprises occurred on October 20, and in the evening of the same day, EU energy ministers introduced new restrictions against the import of Russian oil.
In addition, there are suggestions about the help of Western allies in planning this sabotage. It is noted that these incidents were not covered in any way in the Western media.
Recall, on October 21, the Hungarian oil and gas company MOL reported a fire that broke out at night at a refinery in Sazhalombatte. A day earlier, an explosion occurred at the Lukoil refinery in Romania, one of the workers was injured.
Photo: Reuters
Oil prices edged higher on Monday after OPEC+ moved to suspend planned output increases in the first quarter of 2026, a decision aimed at preventing a potential supply glut. Gains were limited, however, by weak factory data out of Asia.
Brent crude rose 0.37% to $65.01, while U.S. West Texas Intermediate gained 0.34% to $61.19 in early Asian trade, News.Az reports, citing Reuters.
The producer alliance confirmed it will raise output by 137,000 bpd in December, matching levels from October and November. After that, the group plans to pause increases through January, February, and March 2026, citing seasonal demand weakness.
Analysts say the move shows OPEC+ is acknowledging a looming supply surplus next year.
“Still plenty of uncertainty… especially around U.S. sanctions on Russian oil flows,” said ING’s Warren Patterson.
Russia remains a major wildcard, with new U.S. sanctions targeting Rosneft and Lukoil and continued Ukrainian drone attacks on Russian oil infrastructure.
A Ukrainian strike over the weekend hit Tuapse, a major Russian Black Sea oil port, sparking a fire and damaging a vessel.
“There is ample ground for caution,” said RBC’s Helima Croft, pointing to sanctions and expected demand softness.
Despite the OPEC+ move, demand worries linger. Asian factory activity weakened again in October as U.S. tariffs weighed on orders, underscoring a broader slowdown in the world’s largest oil-consuming region.
Brent & WTI both fell more than 2% in October
Forecasts remain steady as higher OPEC+ output + soft demand offset geopolitical risks
Market surplus estimates vary sharply — 190,000 bpd to 3 million bpd
U.S. output hit a record 13.8 million bpd in August, according to the EIA
Meanwhile, U.S. President Donald Trump denied considering military strikes inside Venezuela amid speculation of expanding counter-drug operations.
https://news.az/news/oil-prices-rise-as-opec-pauses-output-hikes-for-early-2026
Monday, November 3, 2025
BP PLC on Monday announced the $1.5 billion sale of non-controlling interests in the Permian and Eagle Ford midstream assets of bpx Energy to private investor Sixth Street.
Bpx, BP’s US onshore oil and gas business, will remain operator of all the assets.
The London-based oil and gas company said the deal delivers a ‘material contribution’ towards its target of $20 billion of disposals by the end of 2027.
On completion, bpx’s interest in the Permian midstream assets will move to 51% from 100%, while bpx‘s stake in Eagle Ford will fall to 25% from 75%.
San Francisco, California-based investment firm Sixth Street will hold the remaining, non-operating interests.
Shares in BP rose 0.9% to 446.19 pence each in London on Monday morning. The wider FTSE 100 was up 0.2%.
BP will receive around $1 billion on signing, with the balance expected by the end of the year, subject to regulatory approvals.
The FTSE 100 listing said the agreement enables it to unlock capital from infrastructure, while retaining operatorship and control of strategic midstream assets.
The assets sold encompass bpx’s pipelines and facilities in the Eagle Ford and Permian basins, including four Permian central processing facilities Grand Slam, Bingo, Checkmate and Crossroads.
Kyle Koontz, chief executive of bpx Energy, said: ‘This transaction reinforces that we are on track to maximize the return on our investment in these basins and allows us to continue operating them safely and efficiently.’
BP said the transaction represents a change in ownership through non-controlling interest stakes and is expected to increase non-controlling interest on its balance sheet.
The effect on non-controlling interest reported in the income statement is projected to be in the range of $100 to $200 million per annum.
https://www.ajbell.co.uk/news/articles/bp-sells-stakes-us-midstream-arm-sixth-street-15-billion
Mali’s government has reportedly cancelled more than 90 mining exploration permits for minerals such as bauxite, uranium, rare earths, gold, iron ore, and more. The government decided that companies failing to meet new regulatory requirements would have their permits cancelled.
The move, confirmed through an official decree seen by Reuters, affects local branches of well-known mining firms such as Harmony Gold, IAMGOLD, Cora Gold, Birimian Gold, and Resolute Mining.
Exploration zones now open for new allocations
According to a statement from the Ministry of Mines, permit holders were required to submit specific documents under recently introduced mining laws. After review, authorities found that many had not complied.
“All rights linked to the revoked permits are now released,” the decree states, adding that the affected exploration zones are open for reassignment. The government has not said whether affected companies can appeal or reapply for new permits.
Regional trend towards stricter oversight
The new development mirrors similar actions in other African nations, such as Guinea, where governments have tightened their grip over the mining sector. In fact, many exploration permits were revoked due to inactivity or failure to comply. This initiative of the government, though tough, is actually aimed at increasing revenue and simultaneously protecting national resources.
The Malian decree, signed on October 13 by Mines Minister Amadou Keita and reviewed by Reuters on October 29, withdraws exploration rights granted between 2015 and 2022. These covered a wide range of minerals such as bauxite, uranium, rare earth elements, gold, iron ore, and more.
By Dave Taylor
Published: Nov 2, 2025 at 13:00 — 2 min read
Commodities Gold Price Forecast
Gold Price Stabilises Around $4,000 as Investors and Central Banks Keep Buying
The gold price ended the week at $4,002 per ounce, down 0.94% on Friday after a volatile few sessions that saw the metal briefly dip below $3,950 before recovering.
Despite the recent correction from record highs, UBS says the pullback is temporary and continues to forecast gold at $4,200 per ounce, with an upside scenario of $4,700 if geopolitical or market risks intensify.
“The much-anticipated correction has taken a breather,” UBS said.
“Outside technical factors, we see no fundamental reason for the sell-off.” The bank noted that “fading price momentum triggered a second leg down in futures open interest,” but emphasised that underlying demand remains strong.
Image: Gold price in US dollars chart - 7-day (see full XAU/USD history)
UBS cited the World Gold Council’s Q3 Gold Demand Trends report, which confirmed “very strong and accelerating buying” across both central banks and investors.
“Central bank purchases of 634 metric tons this year have been slower than last year’s pace but are picking up in Q4, in line with our forecast of 900–950 metric tons for 2025,” the bank said.
Investor appetite has also strengthened, with ETF inflows of 222 metric tons and bar and coin demand above 300 metric tons for the fourth consecutive quarter.
“Jewellery demand was also not as weak as feared,” UBS noted.
“We like to buy the dip in gold,” the bank said, adding that investors “remain underallocated” to the metal. UBS recommends a mid-single-digit allocation within diversified USD portfolios.
Sandton, South Africa Ivanhoe Mines Full time
**IVANHOE MINES is looking for a Senior Project Geochemist.**
**Ivanhoe Mines is a leading Canadian mining company committed to becoming a global leader in the supply of critical resources required to transition our world to a low-carbon, renewable future.**
**Exploration is in Ivanhoe’s DNA, with active projects in 5 jurisdictions; Copper exploration is focused on the Democratic Republic of Congo and exploration on the Western Foreland; in Angola and Zambia searching for the western extension of the Copperbelt; and in the Chu Sarysu basin of Kazakhstan. Additionally in South Africa we are exploring for mineralisation associated with the Northern Limb of the Bushveld Complex and it’s potential feeder at Mokopane.**At the same time Ivanhoe is focused on developing and expanding its four principal mining and exploration projects in Southern Africa. The development of the Kamoa-Kakula copper mining complex in the Democratic Republic of Congo(DRC), the Platreef palladium-rhodium-platinum-nickel-copper-gold discovery in South Africa, the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine.**
**Play your part in our team succeeding...**
**Requirements**:
- BSc Honours Geology(NQF level 7)
- MSc in Geochemistry
- At least 8 years in geochemistry environment, with minimum of 3 years in exploration role
- Experience in the full workflow of survey acquisition from design, contractor adjudication, acquisition management, QAQC, data review, analysis and interpretation
- Experience of developing and mentoring geology teams in geochemical approaches
- Sedimentary geochemistry approaches
- Experience with a systems approach to Mineral Exploration
- Experience working in a collaborative team of geoscientists.
**Minimum advanced skills and knowledge in**:
- Proficiency in geochemistry/geological software and tools, with analytical skills sufficient to analyse complex data sets.
- Database Management (acQuire) of geochemistry data
- Advanced ioGAS skills
- Microsoft (PowerPoint, word, excel)
- ESRI ARC Pro
- 3D software for geological modelling (Seequent Leapfrog)
**Technical skills required**:
- Good analytical skills, able to connect large-scale redox systems with localised sampling results.
- Good communication skills - communicate clearly both verbally and written.
- Cross functional abilities (Geochemistry-Geology-Geophysics collaboration)
**The finer details**:
When applying, please submit a PDF version of your CV together with certified copies (certification within a 3-month period) of your ID/passport, drivers license and qualifications.
**As an equal employment opportunity employer, its important to us that our workforce reflects people of all backgrounds, identities and experiences.
https://za.trabajo.org/job-3413-2857e20da6efbc0589cd110be34464b8