Oct 12 (Reuters) - American Airlines (AAL.O) estimated on Tuesday a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year, betting on increased holiday demand and a lifting of travel bans.U.S. carriers had tempered their outlooks for the September quarter as the Delta coronavirus variant slowed new bookings and drove up cancellations, b...Read More
BERLIN, Oct 12 (Reuters) - Germany is not yet prepared to recognise the Taliban as Afghanistan's government since it has not met the inclusiveness standards demanded of it, Chancellor Angela Merkel said, but she reaffirmed Berlin's promise of 600 million euros' aid.Speaking after a video conference of leaders from the G20 group of large economies and other international officials, Merkel also said...Read More
WASHINGTON (Reuters) - The International Monetary Fund takes data integrity "incredibly seriously" and has a robust system in place to ensure the credibility of its data and forecasts, but is always looking for ways to improve, chief economist Gita Gopinath said on Tuesday.Gopinath noted that the IMF board on Monday expressed full confidence in IMF Managing Director Kristalina Georgieva and the IM...Read More
Oct 12 (Reuters) - The Federal Reserve Bank of Boston has kicked off its search for a new president to replace the bank's previous top executive, who left last month, it said on Tuesday.The bank's search is being led by Christina Paxson, the chair of its board and president of Brown University, it said in a statement, and it has hired the executive search firm Spencer Stuart to assist it in recrui...Read More
WASHINGTON, Oct 12 (Reuters) - Persistent supply chain disruptions and pricing pressures are constraining the global economy's recovery from the COVID-19 pandemic, the International Monetary Fund said on Tuesday as it cut growth outlooks for the United States and other major industrial powers.In its World Economic Outlook, the IMF trimmed its 2021 global growth forecast to 5.9% from the 6.0% forec...Read More
Another day, anothermixed day in the metals. Gold and silver appear stuck as buyers don't have enough power topush them up, and the bears don'thave enough to push them down. This is known as congestion and can last for anextended period. At the same time, platinum appears to have found a bottom. Looking at gold thismorning at 5:15 am EDT, we see higher prices. At the same time, silver islower. Bot...Read More
BEIJING (Reuters) -China's ruling Community Party turned its sights on the country's vast financial sector this month, kicking off a new round of a years-long campaign to uncover corruption and illegal dealings.The country's top anti-graft watchdog has started a roughly two-month inspection of more than 20 institutions including the central bank, the banking and insurance regulator, stock exchange...Read More
BEIJING, Oct 12 (Reuters) - Authorities from Beijing to Chennai scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation and curtail an economic recovery.Power prices have surged to record highs in recent weeks, driven by shortages in Asia, Europe and the United States, with an energy crisi...Read More
WASHINGTON (Reuters) - The International Monetary Fund's executive board on Monday expressed its full confidence in Managing Director Kristalina Georgieva after reviewing allegations that she pressured World Bank staff to alter data to favor China.But Treasury Secretary Janet Yellen put Georgieva on notice that she would closely monitor the IMF's follow-up and evaluate any new facts or findings, a...Read More
Mr. Marco Roque reportsCASSIAR GOLD REPORTS HIGH-GRADE INTERCEPTS AT CASSIAR SOUTH: 4.8 M OF 35.1 G/T AU, INCLUDING 0.4 M OF 270.0 G/T AU AND 0.5 M OF 105.0 G/T AU; AND 6.4 M OF 12.6 G/T AU, INCLUDING 2.95 M OF 25.7 G/T AUCassiar Gold Corp.has released initial results from a continuing 2021 diamond drilling program at its flagship Cassiar gold property located in British Columbia, Canada. Assay r...Read More
HONG KONG (Reuters) - Debt-saddled Chinese property firms took heavy fire in bond markets on Tuesday, after the poster child of the sector"s woes, Evergrande Group, missed its third round of bond payments in as many weeks and others warned of defaults.A wave of developers face payment deadlines before the end of the year and with Evergrande"s fate looking increasingly bleak, fears are mounting of...Read More
LONDON, Oct 12 (Reuters) - The world's multilateral development banks need to "up their ambition" in terms of the financing provided for climate-related projects, United Nations climate envoy Mark Carney said on Tuesday.Speaking in a podcast with Reuters BreakingViews editor Rob Cox, Carney said groups such as the World Bank and other development finance institutions should focus on backing inves...Read More
LONDON, Oct 12 (Reuters) - India's government bonds are likely to gain inclusion in global indexes in 2022, bringing potential inflows of between $30 billion and $40 billion, HSBC analysts estimate.HSBC said an announcement about India's inclusion in the Bloomberg Global Aggregate Index (BGAI) and JPMorgan's GBI-EM Index (GBI-EM) could happen before the end of 2021, with inclusion to follow in 202...Read More
WASHINGTON, Oct 12 (Reuters) - White House officials, scrambling to relieve global supply bottlenecks choking U.S. ports, highways and railways, warn Americans may face higher prices and some empty shelves this Christmas season.The supply crisis, driven in part by the global COVID pandemic, not only threatens to dampen U.S. spending at a critical time, it also poses a political risk for U.S. Pre...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 steady to slightly lower in early U.S. trading Tuesday, giving up modestovernight gains as the U.S. dollar index has moved to its daily high and theU.S. stock indexes have done the same...Read More
Oct 12 (Reuters) - Plume, a Silicon Valley-based startup aiming to give consumers a better WiFi experience, on Tuesday said it raised $300 million mostly from SoftBank Group Corp Vision Fund 2, and is now valued at $2.6 billion.The latest funding round comes only eight months after Plume raised $270 million. It has roughly doubled its valuation since then.Plume also has extended its technology to...Read More
NEW DELHI, Oct 12 (Reuters) - Indian automaker Tata Motors has raised 75 billion rupees ($994 million) from private equity firm TPG's Rise Climate Fund and Abu Dhabi's ADQ to expand its passenger electric mobility business, the company said on Tuesday.Tata will form a separate electric mobility unit in which TPG and ADQ will get between 11% and 15% share against compulsorily convertible shares, va...Read More
BENGALURU, Oct 12 (Reuters) - India’s annual retail inflation eased to 4.35% in September from 5.30% in the previous month, government data released on Tuesday showed.Analysts in a Reuters poll had predicted annual inflation at 4.5%.COMMENTARYRADHIKA RAO, ECONOMIST, DBS BANK, SINGAPORE"The scale of moderation in the September CPI inflation was along expected lines, providing transient relief...Read More
LONDON (Reuters) - Britain has launched a review into speeding up how listed companies can raise funds on stock markets, its latest move to keep London at the forefront of global financial centres after Brexit.Britain's markets raised 30 billion pounds ($41 billion) in new equity last year as companies sought to shore up their finances during the pandemic, but most businesses chose to raise funds...Read More
WASHINGTON (Reuters) - The Democratic-controlled U.S. House of Representatives is expected on Tuesday to give final approval to a Senate-passed bill temporarily raising the government's borrowing limit to $28.9 trillion, putting off the risk of default until early December.Democrats, who control the House by a mere four-vote margin, were expected to maintain party discipline and pass the hard-foug...Read More