Oct 15 (Reuters) - UK Prime Minister Boris Johnson will host a dinner with world business leaders, including Bill Gates and JPMorgan Chase & Co (JPM.N) Chief Executive Officer Jamie Dimon, The Telegraph reported on Friday.Around 20 executives are expected to attend the dinner in a bid to establish "Global Britain," on Oct. 18 at 10 Downing Street, the report added.Reporting by Anirudh Sali...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'strading pattern got many analysts excited this week, with some even saying thathotter-than-expectedinflation data was a game-changerfor gold. But things didn't pan out as expected, with gold tum...Read More
It was another"hot" week in commodities, with the highest CPI reading since July2008, at 5.4% annually. Food inflation rose to 4.5%, the highest reading since2011 and showing no signs of slowing down. I cannot stress how important it isto have a "real asset" basket in your investment portfolio. Many ofyou choose Gold and Silver as your tangible assets to combat inflation (I havesome too); however,...Read More
MADRID, Oct 15 (Reuters) - Spanish bank Sabadell has reached an agreement with unions to lay off up to 1,605 employees in its home market, fewer than the initially planned more than 1,900, the leading union Comisiones Obreras (CCOO) said on Friday.The agreement to reduce the workforce in Spain was reached after the bank met some of the union's demands, such as setting a lower number of layoffs, ca...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) - Compa??ia de MinasBuenaventura (NYSE: BVN), Peru's largest publicly-traded precious metals miningcompany, today announced that the company has submitted a request to thePeruvian minister for mines and...Read More
NEW YORK (Reuters) - Wall Street banks have been among the biggest beneficiaries of the pandemic-era trading boom, fueled by the Federal Reserve's massive injection of cash into financial markets.With the central bank nearing the time when it will start winding down its asset purchases, banks are set to profit again as increased volatility encourages clients to buy and sell more stocks and bonds,...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) - Avino Silver & Gold Mines(TSX: ASM) today reported that production of 285,464 silver equivalent ounces,consisting of 77,935 ounces of silver, 1,183 ounces of gold, and 685,535 poundsof copper, was achi...Read More
NEW DELHI, Oct 15 (Reuters) - U.S. Senator Elizabeth Warren called for breaking up Amazon.com Inc (AMZN.O) and Indian retailers demanded a government probe of the company after a Reuters investigation showed the e-commerce giant had copied products and rigged search results in India.The Reuters report, reviewing thousands of internal Amazon documents, found that the U.S. company ran a systemati...Read More
NEW YORK, Oct 15 (Reuters) - Disruptions to transportation of coffee around the world, caused by container shortages and port congestion, will likely keep coffee prices high for a longer time since they make it more difficult for the market to rebalance supplies geographically.Coffee analysts and traders said on Friday during the annual conference organized by the Swiss Coffee Trade Association (S...Read More
(Kitco News) - Agnico Eagle CEO Sean Boyd discussed the benefits of hiscompany's proposed merger with Kirkland Lake Gold.Boyd spoke to Kitco on Tuesday. Agnico Eagle (TSE:AEM) andKirkland Lake Gold (TSE:KL) announced a merger earlier this month."[This merger] is kind of different than what you normallysee in the gold space. You usually see premium acquisitions done to fix issuesof the acquirer. H...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) - China's Ganfeng Lithium, theworld's largest lithium metal producer, said today that in Q3 2021, the companyexpects net profit of between RMB915,200,000 (~$142 million) andRMB1,092,000,000 (~$170 millio...Read More
(Kitco News) Gold ran into "massive resistance" at the $1,800 an ounce level, triggering a $30 retreat Friday. And analysts say that gold won't commit to a rally until there is enough interest to take gold past its key technical barriers.Weighing on gold was a better-than-expected economic outlook following strong retail sales, with December Comex gold futures tumbling to $1,769 an ounce, down 1.6...Read More
* CBOT corn, soy firm on renewed hopes of increased exports* CBOT wheat turns higher on Paris rally* U.S. soybean crush hits three-month low in September (Recasts, updates with U.S. trading, adds analyst quote, changes byline and dateline, previous PARIS/SINGAPORE)CHICAGO, Oct 15 (Reuters) - Chicago corn and soybean futures prices rose on Friday, supported by technical buying and renewed hopes of...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) - China's Zijin Mining Grouptoday announced that in the nine months period ended 30 September 2021 (9M2021), the company's net profit was RMB14.5 billion (~$2.3 billion), 151%higher than in the same peri...Read More
Oct 15 (Reuters) - U.S. stocks climbed on Friday and the main indexes were set for weekly gains after Goldman Sachs capped a strong earnings season for big banks, while a surprise rise in retail sales raised optimism about economic recovery.Goldman Sachs (GS.N) gained 2.7% as a record wave of dealmaking activity drove a surge in the bank's quarterly profit. read moreOther big lenders, including...Read More
(Reuters) - Cryptocurrency Tether and crypto exchange Bitfinex will pay $42.5 million to settle civil charges from the U.S. Commodity Futures Trading Commission (CFTC) over allegedly making misleading statements and making illegal transactions.Firms doing business as Tether agreed to pay $41 million to resolve CFTC charges they made misleading claims about Tether's cryptocurrency stablecoin, the C...Read More
OTTAWA (Reuters) -Canadian Prime Minister Justin Trudeau said on Friday he would reshuffle his cabinet on Oct. 26 and bring back Parliament in late November, prompting opposition complaints of time-wasting.Trudeau was re-elected to a third term in office on Sept. 20 but for the second time in a row only won a minority of seats in the House of Commons, which means he needs to cooperate with opposit...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) -Mountain Province Diamonds(TSX: MPVD) yesterday announced that in Q3 2021, 1,562,105 carats wererecovered from the Gahcho Ku?(C) diamond mine, located in Canada's NorthwestTerritories, which is 13% lowe...Read More
(Reuters) -The U.S. health regulator is delaying its decision on authorizing Moderna Inc's COVID-19 vaccine for adolescents to check if the shot could increase the risk of heart inflammation, the Wall Street Journal reported on.wsj.com/3p3P5Zp on Friday, citing people familiar with the matter.Moderna's shares fell nearly 2% to $326.25 in midday trading after the report.The U.S. Food and Drug Adm...Read More
WASHINGTON, Oct 15 (Reuters) - The World Bank-International Monetary Fund Development Committee on Friday urged the bank to take additional steps to "assure the integrity and credibility of data" in the wake of a data-rigging scandal involving its now-canceled "Doing Business" report that embroiled IMF Managing Director Kristalina Georgieva.The panel, which acts as the steering committee for the W...Read More