⛏ This miner struck a nerve

BHP's profit fell off a cliff | Baidu won big on an advertising rebound | [Finimize](   TOGETHER WITH   Hi {NAME}, here's what you need to know for August 23rd in 3:14 minutes.   📣 Some voices in finance don't just speak: they echo into the future. Join eToro's Lule Demmissie and TradeStation's John Bartleman for [Future Of Finance: Building Investment Platforms For The Modern Era]( this Wednesday, August 23rd, and find out how the world’s biggest investment platforms are set to shape the coming years. [Get your free ticket]( Today's big stories - BHP’s full-year results were a full-on disappointment - Here's why it could be silver's time to shine – [Read Now]( - China’s advertising comeback kept Baidu buoyed up The Fault Is Mine [The Fault Is Mine] What’s going on here? Mining giant BHP [reported]( some seriously disappointing results on Tuesday. What does this mean? Rewind to a year ago, and BHP was riding high, boasting its highest-ever annual profit, thanks to booming commodity prices. But this year’s not so wonderful – and the thorn in its side is China-shaped. See, the world’s biggest metals consumer is in an economic funk right now, particularly in its property sector. And that’s a big deal for BHP: after all, construction in China is steel-hungry, meaning the country’s usually a big buyer of BHP’s iron ore. And sure, India did offer a shoulder to cry on, with ambitious plans to more than double its own steel production. But in the end, slack Chinese demand, dwindling commodity prices, and climbing costs saw BHP’s earnings taking a 37% nosedive from last year, marking its lowest annual profit in three years. Why should I care? Zooming in: Not just a wooden nickel. BHP’s fate echoes that of its rival, Rio Tinto. And with predictions that steel and iron ore demand will shrink further this year, it looks like the industry’s tough times are set to continue. But BHP isn’t just sitting around. The firm’s pivoting toward future-proof commodities like copper, potash, and nickel, betting big on population growth and the clean energy shift. It’s putting its money where its mouth is too, upping its investments in the space in the hopes that these ventures will soon account for half its total revenue. The bigger picture: Sinking foundations. China’s trying to jumpstart its property sector, but its policies haven’t yet translated into changes on the ground. And that makes sense: despite the slowdown, authorities have been slow to take any truly big steps to encourage building on a grand scale. And if they’re not careful, that hesitation could backfire – letting the property sector’s inertia slow the broader economy down even more. You might also like: [Why would you want to invest in commodities anyway?]( Copy to share story: [/fault-mine]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=The Fault Is Mine&utm_campaign=daily-global-23-08-2023&utm_source=email) Analyst Take Forget About Gold: Silver Could Really Shine In Dark Climates [Forget About Gold: Silver Could Really Shine In Dark Climates]( [Photo of Reda Farran] Reda Farran, Analyst Not all that glitters is gold. The precious metal might overshadow the rest, but as it turns out, [silver’s pretty glitzy]( too. See, it’s not only good for jewels and jazzed-up antique furniture, it’s a must-have in the [industrial sector]( too. And with a reputation like that, silver could stand up no matter if the economy’s stronger than ever or [more volatile]( than before. Thing is, this industry’s far from straightforward. So let’s find out if silver deserves more than a runner-up medal – and if it does, how you could invest in the [unique commodity](. That’s today’s Insight: [why silver could be the commodity to watch.]( [Read or listen to the Insight here]( SPONSORED BY CFA INSTITUTE Level up your resume without putting your life on ice You could take a year out of work and complete a master’s degree. Or you could stand out another way: complete CFA Institute’s Investment Foundations Certificate in your own time from home, and earn a shiny certificate and online badge to signal your skills. You’ll develop a deep understanding of the investing sector’s necessary practical skills and advance your critical thinking skills – exactly what you need to bag that new job or promotion. And by working through the [DeFi: Introduction to Blockchain and Cryptocurrency course](, you’ll get your head around an extremely complex topic, building desirable digital literacy skills. Now get this: [add both courses to your basket]( and use the code [FINIMIZEDEFI2023]( at checkout, and you’ll get the DeFi course for free. That’s a $689 bundle, [yours for just $350](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. Search And Rescue [Search And Rescue] What’s going on here? Chinese internet giant Baidu [reported]( some pretty impressive results on Tuesday. What does this mean? As the biggest search engine in the country, Baidu is essentially China’s answer to Google. And even as the broader economy’s taking its sweet time to get moving, online advertising is bouncing back – just take a look at Tencent’s recent numbers for proof of that. That’s great news for Baidu, given that a hefty portion of its revenue comes from digital marketing. In fact, the firm saw 15% growth in that segment last quarter, as businesses eagerly ramped up their ad campaigns during the post-lockdown reopening phase. That helped Baidu’s revenue grow at the fastest pace in two years. And that got investors – already impressed by the firm’s new AI offerings last week – sending shares up too. Why should I care? The bigger picture: Chipping away. Of course, Baidu isn’t the only player with AI dreams, with the likes of Alibaba and Tencent trying to make inroads too. But whichever Chinese giant comes out on top, they all need one thing to make it happen: chips. And given the looming concerns that the US might tighten export controls, these giants aren’t taking any chances. In fact, recent reports showed a scramble among Baidu, ByteDance, Tencent, and Alibaba to secure high-performance chips from Nvidia. Collectively, they’ve already placed orders worth a whopping $5 billion, set for delivery in the coming years. Zooming out: Twisting investors’ Arm. Many are bullish on Arm riding the AI wave too, but the chip designer – fresh from filing for its stock market listing this week – isn’t without its share of investor skepticism. See, Arm just disclosed that a quarter of its revenue comes from China, warning that it’s particularly vulnerable to escalating tensions between China and the West. That kind of complication might just dampen the enthusiasm for the firm’s much-anticipated listing, which had been touted as the biggest blockbuster of 2023. You might also like: [Macro and markets guide to China.]( Copy to share story: [/search-and-rescue]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Search And Rescue&utm_campaign=daily-global-23-08-2023&utm_source=email) 🪧 Forget the billboards Old-school tactics won't engage [modern investors](. 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And with StockSim’s portfolio analysis tools, you can [assess how successful and diversified your portfolio is](, and even compare it directly to the S&P 500. It’s your [ultimate investing test run](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. 🎯 On Our Radar 1. Rental rollercoaster. Airbnb and Vrbo hosts have been weighing [the pros and cons]( amid a summer surge. 2. You need a lot of time and knowledge to be a value investor. Well, unless you have a [digital assistant to do the heavy lifting for you](.* 3. Penguin promotion. Edinburgh Zoo's king penguin, Sir Nils Olav III, was recently promoted to [Major General](. 4. Pharma's footprint. Denmark's economy is feeling the impact of [red-hot demand]( for Ozempic and Wegovy. 5. Spotless sensation. A [unique giraffe]( born at a Tennessee zoo stands out, missing its distinctive patches. When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🥳 Coming Up In The Next Week... 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