(Reuters) - Shares of Emergent BioSolutions Inc tumbled 15% on Friday, following the termination of a U.S. government contract to reserve capacity and expand manufacturing of third-party COVID-19 vaccines at its sites.The contract manufacturer has come under regulatory fire after an accidental mix-up of ingredients ruined about 15 million doses of Johnson & Johnson's COVID-19 vaccine and prompted...Read More
TOKYO, Nov 5 (Reuters) - Japan's economy likely contracted in the third quarter as curbs to contain COVID-19 infections and supply constraints hit consumption and output, a Reuters poll showed, underscoring the slow pace of recovery from the pandemic's damage.While analysts expect growth to rebound in the current quarter, the weak data would reinforce expectations Japan will lag other countries in...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Bitcoin-U.S. dollar are weakeragain in early U.S. trading Friday. Bulls are keeping alive a price uptrend onthe daily bar chart. However, the recent sideways and choppy trading has nowformed a potentia...Read More
BEIJING, Nov 5 (Reuters) - China's export growth likely moderated slightly in October but remained strong due to robust global demand, easing global supply chain disruptions and a mitigating power crunch, while imports surged on energy demand, a Reuters poll showed on Friday.Exports are expected to have risen 24.5% in October from a year earlier, according to the median forecast of 22 economists i...Read More
SINGAPORE, Nov 5 (Reuters) - Last time the Federal Reserve moved toward reducing bond buying, it triggered a rush of funds out of emerging markets. This time is different, investors say, as they lay bets on sparkling returns extending in some of Asia's biggest developing economies.Indonesia, in particular, has stood out with equity inflows, a steady currency and even its notoriously volatile bond...Read More
BEIRUT (Reuters) - At Oriental Paper Products, a stationery factory outside Beirut, machinery sits idle and shifts have been reduced. The firm was already struggling amid Lebanon's financial crisis; a full-blown diplomatic row here with Saudi Arabia has made matters worse.Last week Riyadh extended a blockade on some goods from Lebanon to a blanket ban here, in response to criticism by a Lebanes...Read More
WASHINGTON, Nov 5 (Reuters) - U.S. job growth likely accelerated in October as the headwind from the surge in COVID-19 infections over the summer subsided, offering more evidence that economic activity was regaining momentum early in the fourth quarter.But the Labor Department's closely watched employment report on Friday is expected to show worker shortages persisting, even after federal governme...Read More
FRANKFURT, Nov 5 (Reuters) - The European Central Bank needs to issue a digital euro as yielding the space entirely to private sector initiatives like stablecoins could endanger financial stability and weaken the role of the central bank, ECB executive board member Fabio Panetta said.The ECB has been working on designing a digital currency, a direct claim on the central bank much like in the case...Read More
SYDNEY, Nov 5 (Reuters) - Australia's banking watchdog said it was examining the regulatory implications of Commonwealth Bank's (CBA.AX)'s planned introduction of bitcoin trading to unsophisticated retail investors - the first bank in Australia to do so.CBA says it would welcome a clear regulatory framework for crytpocurrencies, which are not formally regulated in Australia.On Wednesday CBA broke...Read More
VIENNA, Nov 5 (Reuters) - Housing costs may be adding more to euro zone inflation than once thought, European Central Bank policymaker Robert Holzmann said on Friday, weighing in on a key issue that has been a focus of policymakers this year.When asked how much owner-occupied housing costs could increase headline inflation, Holzmann, Austria's central bank chief, said it could raise it by as much...Read More
HONG KONG, Nov 5 (Reuters) - This was supposed to be Jack Ma's finest hour: a year ago to the day, his Ant Group was meant to go public in a $37 billion blaze of glory. Instead Beijing reined in his empire, abruptly clipping the wings of corporate China's biggest star.Now, to the cautious cheer of investors, the billionaire Alibaba (9988.HK) e-commerce tycoon is taking his first tentative steps...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Gold has found itself back in familiar territory after dropping following the FOMC announcement. The price found some good support at the green area highlighted in a previous post at the $1760/oz area....Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - In Perth Mint's latest statistics, it has emerged that Perth Mint sold 59,750 troy ounces of gold and 1,352,275 troy ounces of silver in minted product form during October.The depository holdings...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Gold and silver have moved higher into the last trading day of the week. Gold is back in familiar territory just below $1800/oz and silver is trading at $23.89/oz. In the rest of the commodities comple...Read More
Bob Moriarty ArchivesNov 5, 2021Over the last year I have written many pieces and done a number of interviews saying that I believed we were going to have a major market crash in late October. Obviously I was dead wrong. I did get it right that the markets topped in late August, early September just as they did in 1929 but we didn’t have the similar very late October crash that I foresaw. In...Read More
Glenn Greenwald's System Update, Released on 11/5/21For the last 9 months, Democrats in politics and media have insisted that 1/6 was the worst attack on American democracy since the Civil War, that it entailed crimes of sedition, treason, insurrection and attempted murder and kidnapping of elected officials. Yet thus far, not a single American has been charged with any of those crimes. If Democra...Read More
Quoth the Raven, Released on 11/5/21Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, N...Read More
Kinesis Money, Released on 11/5/21This week, Andrew Maguire reveals that India, the US and a major bank are all stockpiling physical silver at levels not seen since March 2020, in the lead up to silver's memorable rally.With the BIS up to their usual tricks around Options Expiry, the precious metals expert explains recent volatility and gives a short-term forecast for the fortnight ahead.00:00 Sta...Read More
Wall St. For Main St., Released on 11/5/21McDonald's hikes prices to offset wage increases, supply costs https://thehill.com/business-a-lobbyi...McDonald's Raises Menu Prices as U.S. Worker Wages Climb https://www.wsj.com/articles/mcdonald...It's not as simple as just raising wages. Many small business owners are already suffering and can't afford much more cost increases and wage increases.Commit...Read More
Financial Survival Network, Released on 11/5/21 (Recorded on 11/5/21)Summary: Rick Rule and I sit down to discuss all things investment in light of the fed giving every indication that they're going to taper. We discuss the oil and gas industry-which we're pretty optimistic about-as well as the precious metals and how inflation is affecting jobs. Tune in for more insight from myself and Rick.Rick...Read More