Jan 14, 2019

Newmont Mining agrees to buy Goldcorp for $10 billion

Dan Primack, author of Pro Rata

A prospector shows off a gold nugget in Poland. Photo: Piotr Hawalej/AFP/Getty Images

Newmont Mining agreed to buy Goldcorp for approximately $10 billion in an all-stock transaction.

Why it matters: It would create the world's largest gold mining company. If that sounds familiar, it's because we wrote the same thing when Barrick Gold bought Randgold Resources last year. So ... your move Barrick. "The depletion of global gold mines and the resulting increase in extraction costs has pushed gold miners to seek cost efficiencies, and smaller-scale combinations, as they compete to find and exploit the world’s remaining high-grade deposits," writes the Wall Street Journal.

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Rebecca Falconer
Updated 1 min ago - Politics & Policy

Trump signs bill to prevent government shutdown

Senate Majority Leader Mitch McConnel and President Trump arrives at the U.S. Capitol in March. Photo: Samuel Corum/Getty Images

President Trump signed a bill to extend current levels of government funding after funding expired briefly, White House spokesperson Judd Deere confirmed early Thursday.

Why it matters: The move averts a government shutdown before the Nov. 3 election. The Senate on Wednesday passed the legislation to fund the federal government through Dec. 11, by a vote of 84-10.

Of note: While the previous measure lapse before Trump signed the bill, the Office of Management and Budget had instructed federal agencies "to not engage in orderly shutdown activities," a senior administration official told the New York Times, because of the OMB was confident the president would sign the measure on Thursday.

Editor's note: This is a developing news story. Please check back for updates.

Rebecca Falconer
Updated 37 mins ago - Science

In photos: Deadly wildfires devastate California's wine country

The Shady Fire ravages a home as it approaches Santa Rosa in Napa County, California, on Sept. 28. The blaze is part of the massive Glass Fire Complex, which has razed over 51,620 acres at 2% containment. Photo: Samuel Corum/Agence France-Presse/AFP via Getty Images

More than 1700 firefighters are battling 26 major blazes across California, including in the heart of the wine country, where one mega-blaze claimed the lives of three people and forced thousands of others to evacuate this week.

The big picture: More than 8,100 wildfires have burned across a record 39 million-plus acres, killing 29 people and razing almost 7,900 structures in California this year, per Cal Fire. Just like the deadly blazes of 2017, the wine country has become a wildfires epicenter. Gov. Gavin Newsom has declared a state of emergency in Napa, Sonoma, and Shasta counties.

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Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12:30 a.m. ET: 33,880,896 — Total deaths: 1,012,964 — Total recoveries: 23,551,663 — Map.
  2. U.S.: Total confirmed cases as of 12:30 a.m. ET: 7,232,823 — Total deaths: 206,887 — Total recoveries: 2,840,688 — Total tests: 103,939,667 — Map.
  3. Education: School-aged children now make up 10% of all U.S COVID-19 cases.
  4. Health: Moderna says its coronavirus vaccine won't be ready until 2021
  5. Travel: CDC: 3,689 COVID-19 or coronavirus-like cases found on cruise ships in U.S. waters — Airlines begin mass layoffs while clinging to hope for federal aid
  6. Business: Real-time data show economy's rebound slowing but still going.
  7. Sports: Steelers-Titans NFL game delayed after coronavirus outbreak.
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