On Monday, in the course of current trade, Shares of Freeport-McMoRan Inc (NYSE:FCX), dropped -5.93%, and is now trading at $12.68.
Freeport-McMoRan, declared that PT Freeport Indonesia (PT-FI) and the Government of Indonesia have engaged in productive negotiations regarding PT-FI’s long term operating rights and investment plans. The Government is presently developing economic stimulus measures which comprise revisions to mining regulations to promote economic and employment growth.
In consideration of PT-FI’s major investments and preceding and ongoing commitments to improvement benefits to Indonesia, counting formerly agreed higher royalties, domestic processing, divestment and local content, the Government has assured PT-FI that the Government will approve the extension of operations beyond 2021, counting the same rights and the same level of legal and fiscal certainty offered under its Contract of Work.
Freeport-McMoRan Inc., a natural resource company, engages in the acquisition of mineral assets, and oil and natural gas resources. It primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, in addition to oil and gas.
Finally, Wells Fargo & Co (NYSE:WFC), lost -0.02% Monday.
Wells Fargo & Company, approved more SBA 7(a) loans and dollars for America’s small businesses than any other lender in federal fiscal year 2015 (October 2014 – September 2015), according to released U.S. Small Business Administration (SBA) data. During the year, Wells Fargo approved 7,254 SBA 7(a) loans totaling more than $1.9 billion nationwide – an improvement of 79 percent in loans and 18 percent in dollars to small businesses contrast to the same period a year ago.
“It’s rewarding to know that every SBA loan we approve is assisting more American small business owners succeed financially and grow their businesses,” said Donna Serres, head of Wells Fargo’s SBA Lending Division.
“At Wells Fargo, we are proud of our year-over-year growth in the number of SBA loans we have extended as it shows we are meeting the credit needs of even more business owners, particularly smaller, newer businesses and diverse-owned businesses,” said Marc Bernstein, head of Wells Fargo Business Direct, which focuses on making small business loans under $100,000.
Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Its Community Banking segment offers checking, savings, market rate, individual retirement, and health savings accounts, in addition to time deposits and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards.
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