Geneva Peace Talks, BHP's Bumper Profits, More
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And I'm Caroline Hepker.
Two high-profile sets of negotiations are taking place in Geneva today. The US and Iran are holding a second round of nuclear talks. US Secretary of State Marco Rubio says he's hopeful Tehran and Washington can broker an agreement. On Air Force One, President Trump says he'll be following the talks with Iran.
So I'll be involved in those talks indirectly, and they'll be very important, and we'll see what can happen. It's been typically, reds are very tough to negotiate. I think they want to make a deal. I don't think they want the consequences of not making a deal. They want to make a deal.
President Trump has threatened to strike the Islamic Republic unless it agrees to a deal curbing its nuclear programme and has moved forces to the region. Tehran has begun conducting military drills around the Strait of Hormuz, according to the Tasnim news agency. Iran's foreign minister, Abbas Araqshi, held talks with the head of the UN's atomic watchdog on Monday, but he said in a social media post there would be no submission before threats.
Expectations are low for any breakthrough on discussions to end the war in Ukraine in Geneva. Western officials and analysts say that President Vladimir Putin believes time is on his side and support for Ukraine will peter out. The spokesperson for President Putin, Dmitry Peskov, says that Russia is taking the talk seriously.
This time we intend to discuss a broader range of issues related to the territories and other matters connected to our demands. The presence of the chief negotiator, that is Medinsky, is now essential. Indeed, the delegation will now be expanded this time. In addition to Medinsky, Deputy Foreign Minister Galuzin and other officials will be there.
Dmitry Peskov there speaking via a translator. Russia has for months repeatedly struck Ukrainian cities, leaving hundreds of thousands of people without power in a bid to bring the country to its knees. But Bloomberg analysis suggests that the war's human and economic cost to Russia is stark. Both sides say that any potential progress today would need to be agreed by their leaders before it was accepted.
In earnings news this morning, BHB's bumper copper profits are accelerating a shift away from iron ore. The miner posted earnings close to the upper end of analyst expectations after a years-long effort to shore up copper production. According to the firm's CFO, Vandita Pant, BHB is set to boost its offering of the red metal even further.
For the first time, 50%, more than just about 50% of our earnings EBITDA came from copper.
What negotiations are taking place in Geneva today?
And performance across our assets has been very good. To take example of Escondida, which is our largest mine that we run in Chile, we are revising the guidance up for this year and next year.
BHP's Vandita Pant speaking there after the latest earnings announcement. Following the news, BHP shares jumped by as much as 7.6% in Sydney to hit a record, their biggest gain in over 10 months.
What is the current status of the US-Iran nuclear talks?
Bloomberg has learnt that Elon Musk's SpaceX is competing in a US military contest to produce autonomous drones. The company and its subsidiary, XAI, are hoping to break into the weapons sector by winning a secretive $100 million contest to build voice-activated drones. The news comes as Anthropix talks about extending a contract with the Pentagon. are being held up. Bloomberg understands the company wants guardrails that prevent Claude from being used to develop weapons or spy on Americans being removed. U.S. Secretary of State Marco Rubio has praised Hungarian Prime Minister Viktor Orban during a visit to Budapest. The U.S. is doubling down on its support for the populist leader as the country prepares for elections next month.
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