(Adds price band details, background)BENGALURU, Oct 27 (Reuters) - Indian digital payments leader Paytm has boosted the size of its initial public offering to 183 billion rupees ($2.44 billion) from 166 billion rupees, as existing shareholders look to sell more stake ahead of the country's largest stock market listing.Paytm was likely to target a price band of 2,080-2,150 rupees per share for the...Read More
Oct 27 (Reuters) - BrokerTec, a unit of leading financial derivatives firm CME Group, will launch a market-making programme on Nov. 1 for EU recovery fund bonds, a top executive told Reuters, in a move aimed at boosting transaction flows in the fast-growing debt programme.Building liquidity in the bonds, which are being issued to finance the European Union"s effort to aid member states" post-pande...Read More
Oct 27 (Reuters) - Brazilian digital lender Nubank, which is backed by Warren Buffett's Berkshire Hathaway Inc, said on Wednesday it had confidentially filed for an initial public offering in the United States.Reporting by Niket Nishant in Bengaluru; Editing by Vinay Dwivedi Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The...Read More
LONDON, Oct 27 (Reuters) - Finance minister Rishi Sunak said stronger economic growth and lower borrowing would allow him to increase public spending as Britain emerges from the COVID-19 pandemic, and he vowed to protect households from rising inflation.Sunak said in a half-yearly budget statement on Wednesday that the economy was likely to grow by 6.5% in 2021, a lot faster than a forecast of 4.0...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 prices are trying to hold on to modest gains following therelease of economic data that shows momentum within the U.S. manufacturingsector is holding steady.Fridaythe Commerce Department said that...Read More
(Adds detail, comment, background)MOSCOW, Oct 27 (Reuters) - Russia needs to toughen monetary policy to slow inflation and lower inflation expectations, Central Bank Deputy Governor Alexei Zabotkin said on Wednesday, days after the bank sharply raised the key rate to curb growing prices.Last Friday, the central bank, which targets inflation at 4%, raised rates for the sixth time this year to 7.5%...Read More
FRANKFURT (Reuters) - Deutsche Bank is gingerly hiring new staff at its investment bank, which has become its biggest revenue generator here, as it pursues new revenue opportunities.In the first year-on-year increase in front-office staff at the investment bank since Germany's largest lender embarked on a restructuring in 2019, Deutsche said on Wednesday the number had risen in the third quarter...Read More
SHANGHAI/BEIJING (Reuters) -Ping An Insurance Group Co of China Ltd, the country's largest insurer by market value, posted a 31.2% fall in third-quarter net profit on Wednesday as its premium income shrank on a weak economy and profit was dented by losses on investment assets.Net profit fell to 23.6 billion yuan ($3.7 billion) in the three-months ending September 30, compared with 34.4 billion in...Read More
(Recasts, adds details and comment, updates prices)Oct 27 (Reuters) - Germany's 10-year bond yield fell to the lowest in more than a week and its yield curve flattened on Wednesday.After a brief pause, government yield curves across developed markets are back to flattening over the last two sessions.That is a move which analysts say may reflect concern that central banks, particularly the Bank of...Read More
(Repeats story published on Oct. 26 with no changes to text.)ORLANDO, Fla., Oct 26 (Reuters) - Insatiable demand for bitcoin is forcing U.S. regulators to walk an increasingly fine line between opening up the booming market to investors, and shielding them from what is still a highly speculative, volatile and risky asset.By authorizing the first-ever bitcoin futures exchange-traded funds last week...Read More
LONDON, Oct 27 (Reuters) - Finance minister Rishi Sunak was expected to announce multi-billion-pound public investments alongside tight controls on day-to-day outlays in a budget speech and three-year spending plan on Wednesday.Below are highlights of Sunak's speech in parliament:Employment is up. Investment is growing. Public services are improving. The public finances are stabilising. And wages...Read More
HONG KONG (Reuters) - Bottled water, vaccine development, short video platform TikTok and electric vehicle technology propelled the big earners on China's rich list this year, as embattled property moguls and others facing regulatory scrutiny slipped down the rankings.Zhong Shanshan was No. 1 on the Hurun China Rich List 2021 published on Wednesday, with personal wealth of $60.6 billion thanks to...Read More
BEIJING/HONG KONG (Reuters) - Some Chinese property developers have proposed extending their offshore bond maturities or undertaking a debt restructuring to regulators, sources said, as an increasing number of defaults shakes investor confidence in the sector.The developers made the proposals at a meeting jointly held by the National Development and Reform Commission (NDRC) and the State Administr...Read More
BERLIN (Reuters) - The pandemic-induced loss in working hours in 2021 will be equivalent to 125 million full-time jobs, the International Labour Organization (ILO) said on Wednesday, in a sign that the global labour market is not recovering as expected this year.That number is 25 million higher than what the ILO predicted in its last report in June, affected primarily by the disparities in vaccine...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 prices arenot far from unchanged in early U.S. trading Wednesday. Traders are awaitingnew fundamental developments to move the precious metals markets. December goldfutures were last u...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) - Commerzbank is looking for some significant technical breaks forthe yellow metal to gather momentum. The report said "Gold has ralliedtowards the 55-week ma at 1813 and currently remains capped here. W...Read More
Mr. Robert Hinchcliffe reportsGALWAY METALS DRILLS OAK BAY FOR THE FIRST TIME AFIRST HOLE RETURNS 6.0 G/T AU OVER 3.3M WITH FOLLOW-UP HOLES EXTENDING THIS NEW ZONE 110 METRES AT CLARENCE STREAMGalway Metals Inc. has begun drilling on the Oak Bay property that was optioned in July, 2020. Mineralization at Oak Bay and neighbouring Lily Hill consists of arsenopyrite-rich quartz veining in altered, si...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) - Reuters has reported that China's net gold imports (via Hong Kong) rocketed nearly 60% in September. The data from the Hong Kong Census and Statistics Department showed that this would mean this i...Read More
Teck (NYSE:TECK) said today its adjusted EBITDA was a record $2.1 billion in Q3 2021, more than triple the same period last year.The Vancouver-headquartered diversified miner said realized copper, zinc and steelmaking coal prices were US$4.25 per pound, US$1.38 per pound and US$277 per tonne, respectively, in the month of September. Profit attributable to shareholders was $816 million or $1.53 per...Read More
By Sonali Paul and Melanie Burton MELBOURNE, Oct 27 (Reuters) - Australian iron ore magnateAndrew Forrest wants to turn his company, Fortescue Metals GroupLtd , into the world's biggest green energy group, butcritics say his targets are a stretch even for a man who builtthe world's fourth-largest iron ore producer from scratch injust over a decade. Forrest has spent the global pandemic crisscrossi...Read More