BEIJING (Reuters) - China will prevent monopolistic behaviours by internet platform companies and the disorderly expansion of capital, state Xinhua News Agency quoted president Xi Jinping as saying on Tuesday.China will also correct practices that impede fair competition, Xi said, according to the Xinhua report.?EUREURReporting by Yilei Sun and Brenda Goh; Editing by Andrew Heavens Disclaimer: Th...Read More
LONDON (Reuters) -Britain announced nearly 10 billion pounds ($13.72 billion) of private investment in green projects on Tuesday, as Prime Minister Boris Johnson hosted an investment summit in London attended by 200 of the world"s top financiers and executives.The summit marks post-Brexit Britain"s biggest push to woo investors, even leveraging the soft power of drinks with Queen Elizabeth at her...Read More
BENGALURU (Reuters) - Indian shares snapped a seven-session winning streak on Tuesday, dragged down by metal and bank stocks, while the country's top cigarette maker ITC plunged 6% after the government decided to form a group for tobacco tax policy.The NSE Nifty 50 index ended down 0.3% at 18,418.75, while the S&P BSE Sensex dropped 0.1% to 61,716.05. Earlier in the session, the NSE hit a record h...Read More
(Adds details, updates prices)Oct 19 (Reuters) - Euro zone bond yields were steady on Tuesday, stabilising after a sharp sell-off in the bond markets of developed economies in the previous session.Euro area bond yields moved sharply higher on Monday, tracking their British counterparts. Short-dated British yields spiked that day on growing bets that the Bank of England is planning back-to-back int...Read More
LONDON, Oct 19 (Reuters) - World stocks climbed to a one-month high on Tuesday as a rally in technology shares and prospects of more forecast-beating corporate earnings helped counter concerns about elevated inflationary pressures.Oil prices rose but stood below Monday's three-year highs while the worrying trend of flattening global government bond yield curves paused, helping investors recoup som...Read More
LONDON/SINGAPORE, Oct 19 (Reuters) - Bitcoin hit a six-month high and was within striking distance of its all-time peak on Tuesday as traders bet an anticipated listing of a futures-based U.S. exchange-traded fund could herald investment flows into cryptocurrencies.Bitcoin , the world's biggest cryptocurrency, rose as much as 1.5% during the Asia session to $62,991, its highest since mid-April and...Read More
NEW YORK, Oct 19 (Reuters) - The launch of the first bitcoin futures exchange traded fund (ETF) on Tuesday marks a major step toward legitimizing the cryptocurrency, but some ETF investors may face higher costs compared with buying the digital currency itself.Barring any last-minute objection from the U.S. Securities and Exchange Commission, the ProShares Bitcoin Strategy ETF will begin trading on...Read More
BEIJING (Reuters) - As China raced ahead of major rival economies from the COVID-19 induced slump last year, Beijing saw a chance to push through tough measures targeting debt-ridden developers as well as industrial polluters and tech giants.President Xi Jinping's bold reforms are aimed at reducing the economy's reliance on property and debt, channelling more resources into high-tech manufacturing...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) -The gold market is holding on to solid gains but is seeing little new momentum following disappointing U.S. housing construction data.The U.S. housing sector was a pillar of strength for the U.S. econom...Read More
BENGALURU (Reuters) -SoftBank Group-backed Indian ride-hailing firm Ola is set to lose two top executives, according to an internal memo seen by Reuters, ahead of a potential $1 billion initial public offering.Chief Financial Officer Swayam Saurabh and Chief Operating Officer Gaurav Porwal are leaving the company, according to the memo sent to employees by Chief Executive Officer Bhavish Aggarwal....Read More
Oct 19 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday raised its annual adjusted profit forecast, but stuck to its COVID-19 vaccine sales target of $2.5 billion as it works its way through production challenges that have resulted in delays.The drugmaker had earlier this year faced quality problems at a Baltimore manufacturing facility that produces the single-dose vaccine, resulting in wastage...Read More
(Kitco News) - The demise of the Fed is coming, andwith the collapse of the current monetary system comes the adoption of Bitcoinas the new global reserve currency, said Gareth Soloway, chief marketstrategist of IntheMoneyStocks.com."What I'm actually calling foris a total collapse of the monetary system, actually. So, there will have to bea reset. And I do think that what we're going to go throu...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 pricessolidly higher in early U.S. trading Tuesday, with silver notching a four-weekhigh. A drop in the U.S. dollar index on this day and more bullish near-termchart postures for both...Read More
LONDON, Oct 19 (Reuters) - The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets, while the yuan surged to its highest in four months, benefiting from greenback weakness and a slight easing in property market concerns.A robust start to the U.S. earnings season and hopes that China will be able to contain its property market malaise boosted g...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. dollarare higherin early U.S. trading Tuesday. The Bitcoin bulls have the solid overallnear-term technical advantage as prices hover near a seven-month high and arein a solid uptrend. Ther...Read More
* 30+ definitions of green investments being developed* Aim to steer cash into ‘green' economic activities* Investors see costs, hassle to navigate multiple schemesLONDON, Oct 19 (Reuters) - After years of complaints that there were no rules to determine what constitutes a "sustainable" investment, investors now fret there will soon be too many to navigate easily.More than 30 taxonomies outl...Read More
AUSTIN (Reuters) - In 2019, Diane Guerra and her husband moved out of their two-bedroom apartment in trendy East Austin to buy a house in one of the city's booming northern suburbs. The move doubled their commutes - hers to 40 minutes, his to 30 - but they have no regrets."We simply couldn't afford any of the larger houses in the city," said Guerra, a 35-year-old executive assistant.Like three in...Read More
LJUBLJANA (Reuters) - Euro zone inflation is at risk of overshooting projections so the European Central Bank needs to carefully monitor price growth and should end its emergency stimulus programme next March, ECB policymaker Bostjan Vasle told Reuters.Inflation has surged above the ECB's target due to a long list of one-off factors, leading to fears that what was once considered a temporary price...Read More
HONG KONG/SHANGHAI (Reuters) -China Evergrande Group's deal to sell a 51% stake in its property services unit has been put on hold, two people with knowledge of the matter said, in a blow to the embattled developer's hopes of avoiding a potentially disruptive default.Evergrande, teetering on the brink of collapse with more than $300 billion in debt, was in talks to sell the stake in Evergrande Pro...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) - Silver has been looking bid over the last few session but theprecious metal is heading to a tricky resistance zone. The area marked by thegreen shaded zone has been used on three previous occasions on...Read More