Afternoon Coffee: Tariff Delay Boosts Stocks; Barrick Gold Bids $18 Billion for Mining Rival Newmont

The March deadline to raise tariffs against China has been delayed, lifting stocks on the hopes that the U.S.-China trade deal is making progress, the Associated Press reports.

Over the weekend, President Donald Trump said he wouldn’t raise tariffs at the deadline, and the markets responded favorably. On Monday, Trump also said oil costs were too high, and the price fell later in the day, CNBC reports.

Hostile Bid for Gold Miner

Barrick Gold Corp. has made a $17.85 billion bid to buy Newmont Mining Corp. and create the world’s largest gold mining operation, The Wall Street Journal reports.

An acquisition has been broached before but personalities got in the way, the Journal reports.

“The offer sets up a showdown between management teams at two of the mining industry’s fiercest rivals. Barrick has long considered merging with Newmont, America’s largest listed miner, to pair up their large gold-mining operations in Nevada, creating what would be a behemoth worth about $42 billion at today’s valuations. But personality clashes helped put an end to past talks,” the Journal reports.

‘Gold Standard’ for Global Warming

Evidence for man-made global warming has reached the “gold standard,” scientists said Monday, according to a Reuters report. “The U.S.-led team wrote in the journal Nature Climate Change of satellite measurements of rising temperatures over the past 40 years. They said confidence that human activities were raising the heat at the Earth’s surface had reached a 'five-sigma' level, a statistical gauge meaning there is only a one-in-a-million chance that the signal would appear if there was no warming,” Reuters reports.

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