Oct 11 (Reuters) - Amazon.com Inc (AMZN.O) will let individual teams decide for how many days corporate employees would be expected to work from office in a week, Chief Executive Officer Andy Jassy said in a message to employees on Monday.Earlier, Amazon's policy required for employees to return to office from Jan. 3 for at least three days a week.In his message that was posted on Amazon's blog,...Read More
NEW YORK, Oct 11 (Reuters) - The dollar rose on Monday as surging energy prices prompted investors to seek safe havens, with the greenback hitting a nearly three-year high against the yen on expectations the U.S. Federal Reserve will announce a tapering of its bond purchases next month.Oil prices surged on Monday to multi-year peaks, fueled by the rebound in global demand. Concerns that the price...Read More
LONDON, Oct 11 (Reuters) - Cryptocurrency researcher Elliptic has raised $60 million from investors including SoftBank (9984.T) and Wells Fargo's (WFC.N) venture capital arm, the startup said on Monday, as more mainstream investors bet on the blockchain analytics sector.With larger investors warming to crypto and other digital assets, blockchain analysis firms are in high demand, with regulato...Read More
On a higher timeframe basis: We held exhaustion above with a$65,520 high, which I said could roll this into a correction exceeding$11,000-we have seen $36,720 so far. The decent break below $59,740-685 broughtin $30,885 of pressure. The maintained gap lower on 4/19 left the short-termbearish reversal above warned about. We have attained $28,310. The decent tradebelow $58,080 (-10 per/hour) has bro...Read More
Gold's inability to move above $1,800 an ounce is taking its toll, with ABN AMRO now projecting for gold to end this year at $1,700 and next year at $1,500 an ounce."So far this year, gold prices have declined by 7.5%. The gold price outlook remains negative. We keep our year-end forecast at USD 1,700 per ounce and end of 2022 at USD 1,500 per ounce," ABN AMRO senior precious metals strategist Geo...Read More
Oct 11 (Reuters) - Facebook Inc's (FB.O) oversight board, a body set up by the social network to give independent verdicts on a small number of thorny content decisions, said on Monday it would meet with former employee and whistleblower Frances Haugen in the coming weeks. (https://bit.ly/2YDUKtO)Haugen revealed last week she was the person who provided documents used in a Wall Street Journal in...Read More
LONDON, Oct 11 (Reuters) - Lack of growth is the biggest economic challenge facing developing economies, the World Bank's chief economist said on Monday.Economic growth was essential for poverty reduction, as well as creating government revenues to use for fiscal space, social safety nets and the provision of public goods, said Carmen Reinhart, the World Bank's chief economist."We had a challenge...Read More
Ona higher timeframe basis: I cautionedon 8/16/18 the break above $1,179.7-$1,183.7 warned of renewed strength. Wehave seen $905.5. This is ON HOLD. We held major exhaustion at$2,071.6-93.2 with a $2,089.2 high and rolled over $412.8 into the macrobearish correction warned about. This is ON HOLD. Ona lower timeframe basis: The decentbreak above $1,729.9 (-4 tics per/hour) has brought in $52.9 of r...Read More
StrengthsOf the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Nano Dogecoin INTC, rising 50,429,343,990%.According to Bloomberg, Bank of America (BofA) has now launched research coverage of cryptocurrencies due to growing institutional interest in the sector and massive appetite among retail clients. On Bloomberg Surveillance this week, head of global research from...Read More
NEW YORK (Reuters) - Oil prices surged on Monday to multi-year peaks, boosting U.S. materials and energy stocks, but fears that rising prices would exacerbate supply-chain snags caused Wall Street to give up early gains.Higher vaccination rates against the coronavirus have supported a revival in economic activity, helping Brent prices to gain for five weeks and U.S. crude for seven.U.S. crude jump...Read More
STOCKHOLM, Oct 11 (Reuters) - Economists David Card, Joshua Angrist and Guido Imbens won the 2021 Nobel economics prize on Monday for pioneering "natural experiments" to show real-world economic impacts in areas from minimum wage increases in the U.S. fast-food sector to migration from Castro-era Cuba.Unlike in medicine or other sciences, economists cannot conduct rigidly controlled clinical trial...Read More
StrengthsThe best performing precious metal for the week was palladium, up 8.19% despite hedge funds taken their net-short position to record levels. Gold extended gains after a key U.S. jobs report fell well short of expectations in September, complicating a potential decision by the Federal Reserve to begin scaling back monetary support before year end. The U.S. added fewer jobs than forecast fo...Read More
NEW YORK (Reuters) - Jamie Dimon, JPMorgan Chase & Co chief executive, said on Monday at a conference that cryptocurrencies will be regulated by governments and that he personally thinks bitcoin is "worthless.""No matter what anyone thinks about it, government is going to regulate it. They are going to regulate it for (anti-money laundering) purposes, for (Bank Secrecy Act) purposes, for tax," Dim...Read More
Oct 11 (Reuters) - Activist investor Elliott Investment Management on Monday urged Healthcare Trust of America to launch a strategic review and explore a potential sale of the real estate investment trust.Elliott, which is one of HTA's largest investors, said the company's longstanding underperformance compared to its peers has stoked frustration and shareholders want it to aim for a sale. HTA sha...Read More
BOGOTA, Oct 11 (Reuters) - Colombia will seek up to $2 billion in World Bank financing for 2022 efforts on climate change, biodiversity, improvements to the healthcare and help for young people, President Ivan Duque said on Monday.Duque met in Washington with officials at the bank, which had already supplied $2 billion in funding for this year for programs meant to help the Andean country's post-p...Read More
WASHINGTON (Reuters) -The U.S. Treasury is being held hostage by Republican Senator Ted Cruz's efforts to halt a Russia-to-Germany gas pipeline, blocking critical appointments when the federal debt limit remains a pressing issue, White House officials and Democrats in Congress say.Only four confirmed nominees are in place in the top ranks of the Treasury, of about 20 slots for presidential picks,...Read More
ANKARA (Reuters) - The head of Turkey’s central bank said on Monday that a 100 basis-point interest-rate cut last month was not a surprise and had little to do with the selloff that resulted in the lira.Responding to questions from a parliamentary commission, Governor Sahap Kavcioglu said the central bank had not neglected its duties in cutting the policy rate to 18% from 19%."I can say very...Read More
LONDON (Reuters) - Under pressure to act as inflation jumps towards double its 2% target, the Bank of England appears to be gearing up to be the first of the world's big central banks to raise interest rates since the coronavirus pandemic struck.Governor Andrew Bailey said in an interview published on Friday that inflation running above target must be managed to prevent it from becoming permanentl...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) - Seligdar, one of the leading gold producers in Russia, announced yesterday that it has won an auction for a license to develop Kyuchus, the largest gold deposit in the Republic of Sakha (Yakutia), Russ...Read More
Oct 11 (Reuters) - A strong rally in mining stocks on Monday boosted an index of European equities, which retraced all losses logged early in the session on worries about inflation and the upcoming earnings season.Europe's mining sector (.SXPP) surged 3% to post its biggest daily gain in three months as iron ore and coking coal rallied on supply fears, while base metals prices jumped on concerns...Read More