Financial Giants Engage Trump Amid Industry Shifts
Key players like BHP and Rio Tinto turn to Trump over a U.S. copper project, while Peabody retracts its Anglo American coal deal. Meanwhile, UK Finance Minister Rachel Reeves considers reforming capital gains tax on high-value properties to enhance tax revenue.
Major corporations BHP and Rio Tinto are intensifying their efforts to lobby U.S. President Donald Trump in light of a new delay facing a significant copper mining project in Arizona. Trump, after meeting with leaders at the White House, labeled project opponents as "anti-American."
In a major development, Peabody Energy has withdrawn its $3.8 billion offer for Anglo American's Australian coking coal assets. The decision follows an unsuccessful attempt to negotiate a reduced price after a mine fire, setting the stage for arbitration in this high-stakes energy sector clash.
On the finance front, British Finance Minister Rachel Reeves is investigating potential methods for reforming the capital gains tax on high-value residences. This initiative aims to bolster the nation's tax revenue significantly, reflecting the government's adaptive fiscal strategies.
(With inputs from agencies.)
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