Finance
Japan to take “appropriate” steps against volatility: finance chief
Japanese Finance Minister Shunichi Suzuki holds a press convention in Tokyo on Oct. 18, 2022. (Kyodo)
Japan stands able to take “applicable” steps towards volatility within the overseas change market, Finance Minister Shunichi Suzuki mentioned Tuesday after the yen hit a contemporary 32-year low within the 149 zone versus the U.S. greenback.
Chatting with reporters, Suzuki mentioned Japan is monitoring developments within the foreign money market with a way of heightened urgency.
Japan intervened within the foreign money market in September to stem the yen’s fast fall and the market has been on alert for potential additional motion.
“There isn’t a change in our stance that we are going to take an applicable response,” Suzuki mentioned, including that extreme volatility attributable to speculative strikes is unacceptable.
Japan spent 2.84 trillion yen ($19 billion) shopping for the yen for {dollars} final month, seemingly in a single day on Sept. 22, in its first such intervention since 1998. The motion took some promoting stress off the yen, however the widening financial coverage divergence between Japan and america has continued to weaken the Japanese foreign money.
Hypothesis has emerged that Japanese authorities might have been finishing up “stealth” intervention in latest days.
Suzuki, nonetheless, declined to verify whether or not that had occurred.
“Typically talking, there’s a time after we say in public intervention was carried out, whereas at one other time we do not,” he added.
Large language model developer Anthropic PBC has secured $2.5 billion in debt financing, CNBC reported today.
The loan is structured as a revolving credit facility. Standard debt financing deals require the borrower to pay back the funds in a fixed number of installments. A revolving credit facility, in contrast, has no such requirement. Additionally, the borrower can draw down funds again after repaying the loan.
Anthropic’s revolving credit facility will run for five years. It’s underwritten by Morgan Stanley, Barclay, Citibank, Goldman Sachs, JPMorgan, Royal Bank of Canada and Mitsubishi UFJ Financial Group. Several of those banks also backed a $4 billion revolving credit facility that OpenAI, Anthropic’s top rival, raised last year.
“This revolving credit facility provides Anthropic significant flexibility to support our continued exponential growth,” said Anthropic Chief Financial Officer Krishna Rao.
The company previously raised $8 billion from Amazon.com Inc. in the form of convertible notes. A convertible note is a type of loan that can be turned into shares. Amazon turned a sizable portion of Anthropic investment into shares during the first quarter, which was reportedly one of the reasons its earnings per share surpassed analyst expectations.
In conjunction with the announcement of its revolving credit facility, Anthropic disclosed today that its annualized revenue topped $2 billion in the first quarter. That represents a year-over-year increase of more than 100%. In the same time frame, the number of customers that pay at least $100,000 for Anthropic’s AI models jumped eightfold.
The company regularly launches new products to maintain its sales growth.
Earlier this month, Anthropic updated the application programming interface that customers use to integrate its LLMs into their software. The company added a tool that allows its LLMs to search the web if the information requested by a user isn’t readily available. Pricing starts at $10 per 1,000 searches.
A few weeks earlier, Anthropic debuted a new Max plan for its Claude chatbot. It’s available in two editions priced at $100 and $200 per month, respectively. They offer usage caps up to 20 times higher than the most affordable paid Claude tier.
Anthropic’s largest competitors are experiencing rapid sales growth as well.
In March, Bloomberg reported that OpenAI expects to triple its revenue to $12.7 billion by the end of 2025. More recently, a source told Reuters that Cohere Inc. has doubled its annualized recurring revenue since the start of the year. The company reportedly makes most of its revenue from providing highly regulated organizations with customized AI models that they can run on their own infrastructure.
Image: Anthropic
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Release Date: May 15, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Galiano Gold Inc (GAU) maintains a robust financial position with $106 million in cash and zero debt.
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The company achieved significant exploration success at Abore, identifying a promising high-grade zone beneath the main pit.
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A 75% increase in gold production is projected by 2026, indicating strong future growth potential.
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The secondary crusher project is on track for completion in Q3 2025, which is expected to enhance mill throughput.
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Operating costs are being well managed, with unit costs for mining at Abore and Assassi in line with expectations.
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The company experienced two lost time injuries (LTIs) during the quarter, reflecting a need for improved safety measures.
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An unscheduled two-week mill shutdown due to repairs reduced production by approximately 5,000 ounces.
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Net earnings were negatively affected by fair value adjustments to the hedge book, resulting in a net loss of $29 million.
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The impact of high gold prices and increased government levies could raise all-in sustaining costs (ASIC) by up to $55 per ounce.
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Production figures for Q1 2025 were lower than expected, moving towards the lower end of guidance for the year.
Q: Can you walk us through your intermediate and longer-term expectations for drilling, especially in the south pit? A: Unidentified_5 (Exploration VP): We focused on the south pit to confirm the robustness of the high-grade zone, which exceeded our expectations. The strike length expanded from 90m to 180m. We discovered a new high-grade zone below the reserve pit, which was unexpected. We plan to test deeper targets along the ore body and explore both open pit and underground mining scenarios.
Q: What happened with the cost of the secondary crusher equipment versus expectations, and what downtime should we expect for the install? A: Unidentified_4 (CFO): The secondary crusher project remains on budget, with most equipment costs paid in installments. We expect minimal downtime for installation, as most pre-works can be done while the plant is running. The shutdown for tie-in will be brief, and we plan to conduct other maintenance simultaneously.
Q: Should we model any significant impact from the crusher installation shutdown? A: Unidentified_3 (COO): We don’t expect a significant impact from the shutdown. We have contingencies in place, and the production forecasts already account for this downtime.
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