TBILISI, Oct 18 (Reuters) - U.S. Defense Secretary Lloyd Austin said on Monday Washington was closely watching China's development of advanced weapons systems, while declining to comment directly on a report that Beijing had tested a nuclear-capable hypersonic missile.The Chinese foreign ministry denied the report in the Financial Times newspaper, which said Beijing had launched a rocket in July c...Read More
Mr. Darwin Green reports HIGHGOLD MINING ANNOUNCES $10 MILLION BOUGHT DEAL AND CONCURRENT $5 MILLION PRIVATE PLACEMENT FINANCING WITH STRATEGIC INVESTOR FOR TOTAL GROSS PROCEEDS OF $15 MILLION Highgold Mining Inc. has entered into an agreement with Cormark Securities Inc., on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis,...Read More
LONDON, Oct 18 (Reuters) - Asset-backed stablecoins do not pose a systemic risk to the U.S. financial system and should not face a new set of rules, a major cryptocurrency lobby group told U.S. regulators on Monday, as tighter oversight of the fast-growing technology looms.Stablecoins - digital tokens usually backed by reserves of dollars or assets from gold to other cryptocurrencies - have balloo...Read More
(Reuters) - Confidence among U.S. single-family homebuilders rose by the most in nearly a year in October as customer traffic improved for a second straight month, although builders remain concerned that the shortages that are driving up materials prices will hurt home affordability.The National Association of Home Builders/Wells Fargo Housing Market Index rose 4 points - the most since November 2...Read More
BUDAPEST (Reuters) - A surge in price growth in eastern Europe has opened a rift between central banks that have launched rate hikes to battle inflation and populist governments trying to defend a strong economic recovery.The standoff is most apparent in Hungary and the Czech Republic, where national elections have complicated the task of central banks, which have led the way in the European Union...Read More
FRANKFURT (Reuters) - The German unit of British retail electricity startup Octopus Energy on Monday launched a service providing top-up power supply to households owning rooftop solar panels and a Tesla-branded Powerwall storage battery.Under the terms of the scheme, customers can use grid power supply from Octopus as a back-up to their home-grown power production and the Powerwall unit when the...Read More
(Reuters) - Remote-hiring company Deel said on Monday its valuation was $5.5 billion following a $425 million funding round led by investment firm Coatue.The latest round was led by Coatue's partners Rahul Kishore and Lucas Swisher. Other investors, including technology-focused investment company Altimeter Capital and venture capital giant Andreessen Horowitz, also participated in the round, Deel...Read More
MOSCOW, Oct 18 (Reuters) - Russia's Nornickel , theworld's largest palladium producer, said on Monday it had beguna contest for scientists to find new ways to use the metal thathas been hit by a chip shortage in the auto industry, its topconsumer sector.Global demand for palladium has weakened recently asautomakers, which use the metal in pollution-reducing catalyticconverters, have cut production...Read More
Oct 18 (Reuters) - Enterprise software developer Informatica Inc said on Monday it was aiming to raise up to $928 million at the top end of its price range in its U.S. initial public offering. (Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has ma...Read More
Gold and silver reversed trendslast week but were under heavy pressure on Friday. One of the biggest faultswith traders and investors is that they get too emotional when markets goagainst them. The keys to remember are in an uptrend; you want to buy at supportlevels, in a downtrend sell resistance. Emotions, news, and opinions haveno place in markets. The old saying is that the trend is your frien...Read More
Mr. Darren Hall reportsCALIBRE MINING APPOINTS TOM GALLO AS SENIOR VICE PRESIDENT, GROWTH Calibre Mining Corp. has appointed Thomas Gallo as senior vice-president of growth effective immediately.Darren Hall, president and chief executive officer of Calibre, stated: "I am very pleased to welcome Tom Gallo to the Calibre executive team as SVP -- growth.Tom's strong capital markets and technical back...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 pricesmodestly down in early U.S. trading Monday. Bulls are wobbly again and need somenew fundamental information to jumpstart a rally. Decembergold futures were lastdown $4.00 at $1,764.50. Dece...Read More
BENGALURU (Reuters) - Indian shares rose for the seventh straight session to close at an all-time high on Monday helped by gains in public sector banks, while metals and energy stocks surged on the back of a rise in commodity prices.The NSE Nifty 50 index closed up 0.76% at 18,477.05, while the S&P BSE Sensex rose 0.76% to 61,762.86.The Nifty Metals index surged 3.9%, led by gains of more than 10%...Read More
Oct 18 (Reuters) - The U.S. Food and Drug Administration declined to approve United Therapeutics (UTHR.O) and Mannkind Corp's (MNKD.O) lung disease therapy, citing an inspection issue at a third-party facility, the companies said on Monday.The therapy is a drug-device combination that uses United Therapeutics' approved treatment, Tyvaso, in combination with MannKind's portable inhaler.MannKind...Read More
Oct 18 (Reuters) - Enterprise software developer Informatica Inc is seeking a valuation of up to $9 billion in its return to the stock market nearly six years after it was taken private, the company said on Monday.The company will sell 29 million shares priced between $29 and $32 per share, it said in a filing. At the top end of that range, the IPO will rake in $928 million in proceeds.Informatica...Read More
DUBAI, Oct 18 (Reuters) - Saudi Arabia's Alamar Foods, the regional franchise operator for Domino's Pizza, is considering an initial public offering (IPO) that would allow The Carlyle Group sell some of its stake, three sources familiar with the matter said.Alamar Foods has hired HSBC to arrange the share sale, the sources told Reuters. They said deliberations were at an early stage and no final d...Read More
BEIJING, Oct 18 (Reuters) - China's economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages and wobbles in the property sector, highlighting the challenge facing policymakers as they seek to prop up a faltering recovery while reining in the real estate sector.Gross domestic product expanded 4.9% from a year ago, missing forecasts, as attempts by Beijing to cu...Read More
WASHINGTON, Oct 18 (Reuters) - Colin Powell, the first Black U.S. secretary of state and top military officer, died on Monday at the age of 84 due to complications from COVID-19. He was fully vaccinated, his family said in a statement on Facebook."We have lost a remarkable and loving husband, father, grandfather and a great American," his family said.Powell was one of America's foremost Black fig...Read More
(Reuters) - IT solutions provider CDW Corp said on Monday it would buy Sirius Computer Solutions from an affiliate of private equity firm Clayton, Dubilier & Rice (CD&R) for $2.5 billion in cash.With the acquisition, CDW expects its services portfolio to grow by about 45% and bolster its ability to help clients digitize their operations rapidly.Founded in 1980, Sirius is an IT solutions integrator...Read More
BEIJING/PRAGUE, Oct 18 (Reuters) - Power shortages helped drive down China's economic growth to its slowest in a year, while surging coal prices on Monday threaten more pain for Chinese industry and global supply chains.Companies in Europe have trimmed outlooks amid global bottlenecks, while European gas prices, still more than 350% higher than at the start of 2021, have forced more power supply...Read More