Mr. David TerryreportsGENESIS METALS COMMENCES EXPLORATION WORK AT OCTOBER GOLD PROJECT, ONTARIOGenesis Metals Corp. has launched a multifaceted exploration program at its 100-per-cent-owned 26,430-hectare (264.3-square-kilometre) road-accessible October gold project in the Swayze greenstone belt, western Abitibi, Ontario.In order to advance exploration of the large, prospective and strategically...Read More
ROME (Reuters) -Italy's UniCredit, Intesa Sanpaolo and smaller Banca Ifis said on Wednesday they had joined the U.N. Net-Zero Banking Alliance (NZBA), a group of banks committed to reducing their carbon financing and investment portfolio by 2050.The alliance, launched in April, has almost 80 members from 35 countries, including Bank of America, Citigroup Morgan Stanley and JPMorgan. It has $54 tri...Read More
(Reuters) - U.S. online holiday spending is expected to grow at its slowest pace in at least eight years, as product shortages, higher prices and lingering pandemic-related uncertainties threaten to put a strain on the shopping season.Adobe Analytics forecast an average 10% growth or $207 billion in online sales in November and December, compared with a record 33% jump in 2020 when people chose to...Read More
WASHINGTON (Reuters) - U.S. Vice President Kamala Harris and Labor Secretary Marty Walsh on Wednesday will announce measures aimed at making it easier for unions to organize the country's more than 2 million federal workers.The moves will include directing federal agencies to inform job applicants and new employees about unions during the hiring and onboarding process. Unions will also be allowed...Read More
MILAN (Reuters) - Italy's Falck family of industrial magnates will receive 1.5 billion euros ($1.8 billion) from the sale of its controlling stake in Falck Renewables to a JPMorgan-owned infrastructure fund, the company said on Wednesday.The Falcks, who built their fortune in steel over the last century before switching to renewables in the late 1990s, are selling due to the investments and know-h...Read More
OTTAWA, Oct 20 (Reuters) - Canada's annual inflation rate accelerated to an 18-year-high in September, driven by rising transportation, shelter and food prices, data showed on Wednesday, putting the focus on the Bank of Canada ahead of a rate decision next week.Inflation increased to 4.4% in September, beating the average analyst estimate of 4.3%, to reach its fastest clip since February 2003, Sta...Read More
(Reuters) - Nasdaq Inc on Wednesday reported a third-quarter profit that topped Wall Street estimates, helped by strong demand for its investment-related products and a jump in the number of initial public offerings.While the transatlantic exchange operator is best known for its bourses, Nasdaq has tried to push into the anti-money laundering software sector and reposition itself as a leading fina...Read More
Oct 20 (Reuters) - Futures for Canada's main stock index edged higher on Wednesday, boosted by stronger gold prices, while investors awaited inflation data later in the day for cues on the domestic economy.December futures on the SP/TSX index were up 0.1% at 7:00 a.m. ET.Spot gold gained 0.5% buoyed by a softer dollar, while oil prices dropped after the Chinese government stepped up efforts to tam...Read More
ISTANBUL (Reuters) - President Tayyip Erdogan has wheeled a trolley around one of the new grocery stores he hopes will bring Turkey's "exorbitant" prices under control, but his unorthodox effort to combat inflation is failing to impress shoppers and retailers.Accompanied by his wife and daughter, Erdogan went shopping near his Istanbul home earlier this month, telling assembled media that the expa...Read More
NEW YORK (Reuters) - Cboe Global Markets said on Wednesday it was buying Eris Digital Holdings (ErisX), a spot and derivatives exchange for digital assets, as the exchange operator seeks to become a major player in the cryptocurrency industry.ErisX, which also runs a regulated clearing house, will be renamed Cboe Digital.Terms of the deal were not disclosed. It is expected to close in the first ha...Read More
(Reuters) -Biogen Inc raised its full-year profit and revenue forecasts on Wednesday, while reporting a big miss on quarterly sales of its Alzheimer's disease drug as its use stalls amid uncertainty of insurer coverage.The forecast assumes minimal revenue from the treatment, Aduhelm, this year, the company said, with a ramp-up expected once there is clarity on reimbursement from Medicare, the U.S....Read More
Oct 20 (Reuters) - The Bill & Melinda Gates Foundation said on Wednesday it would spend up to $120 million to kick-start development of generic versions of Merck & Co's (MRK.N) oral COVID-19 treatment to help ensure lower-income countries have equal access to the drug.The aim is to reduce the gap between when wealthy countries have access to the antiviral medicine, molnupiravir, and when the res...Read More
* Credit Suisse fined over corrupt Mozambique loans* Swiss regulator said spying more widespread than thought* Scandals reignite Swiss push for banking reformZURICH/FRANKFURT, Oct 20 (Reuters) - Credit Suisse misled authorities over spying on its staff and lied to investors about a corrupt loan to Mozambique, regulators said, painting a bleak picture of the cultural decay at the global bank.The he...Read More
LONDON (Reuters) -Nearly half of the 100 biggest companies listed on Britain's FTSE Index have no net-zero target at all and just 23 have a scientifically approved plan, according to ESG investment research and asset manager Arabesque.Britain wants to reduce greenhouse gas emissions from the economy to net-zero by 2050 while Prime Minister Boris Johnson has expressed enthusiasm for leading a green...Read More
LONDON (Reuters) - Britain looks set to become the first big economy to undergo a two-pronged withdrawal of COVID-19 stimulus as finance minister Rishi Sunak sets out tighter budget plans next week and the Bank of England prepares to raise interest rates.The British economy has rebounded more quickly than expected this year after suffering a nearly 10% crash in 2020.But many analysts think the rec...Read More
FRANKFURT (Reuters) - Bundesbank chief Jens Weidmann, who on Wednesday announced his decision to stand down more than five years early, led a decade-long fight inside the European Central Bank against the easy-money policies espoused by successive ECB presidents.Back in 2012, the German central bank chief was the lone dissenter when the ECB unveiled plans to help countries in distress after the gl...Read More
BEIJING (Reuters) -China's new home prices stalled for the first time since February 2020 in September, as the chill in the property market intensified amid tightening credit due to an ongoing crackdown on speculative investment.The average new home price in 70 major Chinese cities was unchanged in September month-on-month, compared with 0.2% growth in August, according to Reuters calculations bas...Read More
ROME (Reuters) - Italy plans to set aside at least 8 billion euros for tax cuts ($9.33 billion) in its 2022 budget and to spend another 1 billion to reduce household energy bills, two political sources said.To help boost the country's chronically weak economic growth, the government wants to reduce the so-called tax wedge, the difference between the salary an employer pays and what a worker takes...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 higherand near their daily highs in early U.S. trading Wednesday. Worries about risinginflation are prompting buying interest in the hard asset metals. Also, thetechnical postu...Read More
MOSCOW, Oct 20 (Reuters) - Russian metals tycoon OlegDeripaska attacked U.S. "stupidity" in a mocking social mediapost on Wednesday after FBI agents raided Washington and NewYork properties linked to his family. Washington imposed sanctions on Deripaska, 53, and otherinfluential Russians in 2018 because of their ties to PresidentVladimir Putin after alleged Russian interference in the 20...Read More