An anonymous director reportsGOLDMINING COMPLETES US$20 MILLION NON-DILUTIVE FACILITY WITH BANK OF MONTREAL Further to its news release dated Oct. 21, 2021, Goldmining Inc. has entered into and closed an agreement for a $20-million (U.S.) loan facility with Bank of Montreal. The facility is available for general corporate purposes, acquisitions and to continue to advance company projects, includin...Read More
Oct 29 (Reuters) - Real estate services company Cushman & Wakefield said on Friday it had invested $150 million in newly listed office sharing firm WeWork Inc. (Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accura...Read More
WASHINGTON (Reuters) - U.S. consumer spending increased solidly in September, but was partly flattered by higher prices as inflation remained hot amid shortages of motor vehicles and other goods in the face of global supply constraints.The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.6% last month. Data for Aug...Read More
Markets are always achallenge and never make it easy. Day traders get tortured by price action likewe have seen the past few days in Gold, Silver, and Platinum. For the fifth dayin a row, the metals looked poised to run and failed miserably.This type of trade toyswith emotions, and too many traders are too emotional. Anytime money isinvolved, emotions run high on both sides but especially when los...Read More
LONDON, Oct 29 (Reuters) - England and Wales have seen a surge in company directors winding up businesses that are unable to pay their debts, taking so-called voluntary liquidations to their highest level since 2009 in the depths of the global financial crisis.Total company insolvencies in England and Wales jumped in the three months to the end of September to their highest since the start of the...Read More
MOSCOW, Oct 29 (Reuters) - Two key Russian shareholders of Croatian food producer and retailer Fortenova Grupa, formerly known as Agrokor, have started consulting investment banks about taking the company public in the next 2-3 years, two sources said.Fortenova, one of the biggest companies in southeastern Europe, was saved from bankruptcy in a restructuring deal with local and foreign creditors i...Read More
(Updates prices and adds details)SHANGHAI, Oct 29 (Reuters) - China's yuan gave up earlier gains and ended domestic trading at a near two-week low against dollar on Friday, as major state-owned banks bought the greenback.The onshore yuan opened at 6.3918 per dollar and finished the domestic session at 6.4009, 91 pips weaker than previous late night session, the softest such close since Oct. 18.Sta...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 pricesare sharply lower and headed for a bearish weekly low close in early U.S.trading Friday. U.S. inflation data that came in hot, rising U.S. Treasuryyields and a rebound in the U.S. dollar in...Read More
TOKYO (Reuters) -Tokyo Kikai Seisakusho Ltd on Friday won a major court victory in its quest to use a poison pill defence against its biggest shareholder - a closely watched ruling that could make certain kinds of hostile bids in Japan far more difficult.The Tokyo District Court rejected a request for an interim injunction from Asia Development Capital (ADC), saying that the investment firm's shar...Read More
Oct 29 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday said that the global minimum tax agreement will ensure that all countries can collect more from corporations, and high earners pay their fair share."This is an important agreement because countries around the globe have decided that in order to finance the public infrastructure, investments... all countries in a fair way collect mor...Read More
LISBON, Oct 29 (Reuters) - Portugal's economy expanded 2.9% in the third quarter compared with the previous three months as the easing of most coronavirus rules allowed more businesses to reopen and spurred exports, data from the National Institute of Statistics (INE) showed on Friday.INE said that between July and September the country's tourism-dependent economy grew by 4.2% from a year earlier....Read More
Oct 29 (Reuters) - Global equity funds saw solid inflows in the week to Oct. 27, boosted by robust third-quarter earnings results from companies worldwide, easing concerns over inflation and supply chain constraints.Investors purchased a net $24.52 billion in global equity funds, their largest net buying since the week to March 17, Lipper data showed.Major U.S. stock indexes rallied to a new peak...Read More
BEIJING, Oct 29 (Reuters) - China published rules on Friday that require its globally systemically important banks to beef up capacity to absorb losses to head off financial instability.Those banks must meet specific total loss-absorbing capacity (TLAC) targets from 2025, the People's Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC) and the Ministry of Finance sa...Read More
BENGALURU (Reuters) -Indian shares closed in the red for the third straight session on Friday, dragged by banks and IT firms, with heavy outflows from foreign investors adding to concerns of overvaluations.The blue-chip NSE Nifty 50 index fell 1.04% to 17,671.65 and the benchmark S&P BSE Sensex closed down 1.1% to 59,306.93. Both the indexes fell for a second straight week, losing more than 2%.For...Read More
(Reuters) - The S&P 500 and the Nasdaq indexes looked set to drop from record highs on Friday, as results from mega-cap firms Apple and Amazon.com reignited concerns of labor and supply shortages that have been at the forefront of this quarterly earnings season.Market participants have been closely watching how corporate America navigates through these challenges along with concerns about rising i...Read More
KINSHASA, Oct 27 (Reuters) - The International Monetary Fund on Wednesday revised upward this year's economic growth forecast for the Democratic Republic of Congo to 5.4% due largely to higher-than-expected mining production.The IMF said in statement that it had also reached a staff-level agreement with Congo's government on the first review of a three-year $1.5 billion extended credit facility th...Read More
(Recasts with revised windfall levy rate, adds details on budget allocation)KUALA LUMPUR, Oct 29 (Reuters) - Malaysia has agreed to raise the threshold for its palm oil windfall profit levy effective next year and will set the tax rate at 3% nationwide, the finance minister said on Friday.The threshold price for companies in Peninsular Malaysia will be increased to 3,000 ringgit ($725) from 2,500...Read More
(Kitco News) Gold dropped after the U.S. annual core PCE price index came in at 3.6% in September versus the consensus forecast of 3.7%. The index has been at 3.6% since June.On a monthly basis, the core PCE price index was up 0.2% as expected in September, according to the data published by the U.S. Department of Commerce on Friday.The core inflation strips out volatile food and energy prices and...Read More
LONDON (Reuters) - Amazon and Apple earnings curbed enthusiasm for global equities on Friday, though the euro held near one-month highs on euro zone rate rise hopes.Amazon.com reported a slump in profit late on Thursday that it expects will continue through the holiday quarter, as higher pay to attract workers and other operational disruptions diminish the company's windfall from online shopping.S...Read More
MEXICO CITY, Oct 29 (Reuters) - Mexico's economy shrank 0.2 percent in the third quarter compared with the previous three-month period, the first quarterly decline since recovery from the pandemic began, preliminary data from national statistics agency INEGI showed on Friday.The seasonally-adjusted contraction in gross domestic product (GDP) compared with the consensus forecast from a Reuters poll...Read More