NEW YORK (Reuters) - Financial technology startups and other new entrants are making inroads in the U.S. banking market, but have yet to capture a threatening share of bank revenues, according to research published by Accenture Plc (ACN.N) on Wednesday.Around 19 percent of financial institutions in the U.S. are new entrants, such as challenger banks, non-bank payments institutions and big tech com...Read More
BERLIN (Reuters) - A hard Brexit could ground UK flights for up to three weeks but would be survivable for Ryanair (RYA.I), the Irish budget airline’s CEO Michael O’Leary said ahead of a meeting of European Union leaders in Brussels on Wednesday.“You can ground aircraft for a week, two weeks, three weeks. It would be very painful,” O’Leary told Reuters in Berlin. &ldq...Read More
WASHINGTON (Reuters) - The U.S. Trade Representative’s office told Congress on Tuesday it intends to open trade talks with the European Union, the United Kingdom and Japan.Under fast-track rules, the United States cannot start talks with the EU, Japan and the United Kingdom until 90 days after notifying Congress.“We will continue to expand U.S. trade and investment by negotiating trade...Read More
LONDON (Reuters) - Sterling weakened on Wednesday after data showed inflation fell more than expected in September and before a European Union summit at which Britain will try to unblock stalled negotiations for a Brexit deal.Economic data had briefly redirected traders’ attention towards the British economy and away from Brexit this week after figures on Tuesday showed the strongest wage gr...Read More
Alio Gold sells its non-core Nevada assets to Coeur Mining.Coeur gets a large land package close to its Rochester mine.The properties contain low-grade resources of 2.44 million toz gold and 36.5 million toz silver.Alio gets $19 million in Coeur's shares.Alio Gold (ALO) today announced the sale of its non-core Nevada assets to Coeur Mining (CDE). Alio will sell its Lincoln Hill Project, Wilco...Read More
Gold buyers in India, the biggest market after China, may give jewelry stores a miss in the run-up to the Diwali festival this year because of a surge in domestic prices to the highest level in more than two years. Shares of the country's biggest listed jewelers tumbled on Wednesday.Bullion has climbed in local markets because of a weak rupee, and rising prices just before the celebrations of Diwa...Read More
These Top 10 lowest cost gold mines are all below all-in-sustaining costs (AISC) $550/oz level and will prove profitable - even if the price falls 50%.Mining Intelligence looked at costs at primary gold mines and found 10 operations that would still make money, even if gold halves in value from today's levels. AISC metrics has been taken as a basis of comparison and ranking.Since the World Gold C...Read More
(Kitco News) - Gold may have a hard time making much forward tractionin the months ahead but at some point should gain upward momentum in 2019 asthe U.S. dollar loses some of its strength, said Metals Focus Wednesday. The consultancy provided a summary from its reporttitled “Precious Metals Investment Focus 2018/2019,” which covers gold, silver,platinum and palladium. The report is bei...Read More
LONDON/DUBAI (Reuters) - OPEC has urged its members not to mention oil prices when discussing policy in a break from the past, as the oil producing group seeks to avoid the risk of U.S. legal action for manipulating the market, sources close to OPEC said.Proposed U.S. legislation known as “NOPEC”, which could open the group up to anti-trust lawsuits, has long lain dormant, with previou...Read More
ST JOHN’S, Newfoundland/TORONTO (Reuters) - Canada became the first industrialized nation to legalize recreational cannabis on Wednesday, but a lawful buzz will be hard to come by in its biggest cities like Toronto and Vancouver, which will have no stores open.Weed enthusiasts in Newfoundland and Labrador, Canada’s easternmost province, kicked off the first permissible sales at midnigh...Read More
HD shares are in the red todayHome Depot Inc (NYSE:HD) is trading down 2.4% at $188.90, after Credit Suisse downgraded the stock to "neutral" from "outperform" and reduced its price target to $204 from $222. The brokerage firm cited disappointing data out of the housing sector, and it's certainly not helping that housing starts in September just fell by more than expected.HD shares are pacing for...Read More
ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras accepted the resignation of Foreign Minister Nikos Kotzias on Wednesday and will himself take over the foreign affairs portfolio, Tsipras's office said.Earlier, Greek media reported that Kotzias had clashed with Defence Minister Panos Kammenos over a deal that aims to end a decades-old name dispute with neighboring Macedonia.Kotzias was Athens...Read More
LONDON (Reuters) - A recovery by global stocks proved short-lived as warnings over a slowing European auto sector soured an upbeat mood, while Wall Street was set for a slightly lower open after enjoying its best session in eight months the previous day.European stocks, having hit a one-week high in early trade, were back in the red by 1200 GMT, pulled lower by a 1.6 percent fall in an index of au...Read More
(Reuters) - U.S. consumers filed the fewest requests for a mortgage since late 2014 last week as most home borrowing costs reached their highest levels in more than seven years, the Mortgage Bankers Association said on Wednesday.Loan applications for home refinancing tumbled to their lowest level since late 2000, while mortgage requests to buy a home dropped to their weakest level in 20 months, MB...Read More
Acacia Mining (LON:ACA), Tanzania's No.1 gold producer, confirmed Wednesday local media reports saying that one of its staff members and a former employee were detained by the country's anticorruption authority.The company, majority owned by Barrick Gold (TSX, NYSE:ABX), updated the market later in the day, announcing that its three local subsidiaries, an employee and a former staffer had been...Read More
The security has pulled back since touching a record peak on Oct. 1Shares of Abbott Laboratories (NYSE:ABT) are taking a hit in early trading, last seen down 1.7% at $69.74, following the company's third-quarter earnings report. Per-share earnings were in line with estimates, but the healthcare concern cut the top end of its adjusted full-yearforecast. From a longer-term perspective, ABT stock ha...Read More
Oct 17 - Gold and silver miner Hochschild Mining Plc on Wednesday raised its annual output target and forecast lower mining costs, as its Inmaculada mine in Peru produced higher grade ore.The company, which operates three mines in southern Peru and one in southern Argentina, raised its full-year production target to 520,000 gold equivalent ounces from 514,000 gold equivalent ounces.Hochschild also...Read More
WASHINGTON (Reuters) - A U.S. regulatory council announced on Wednesday it had removed the systemically risky label from Prudential Financial (PRU.N), freeing the insurance company from more rigorous oversight by the Federal Reserve.The decision by the Financial Stability Oversight Council could cut regulatory costs at Prudential, which no longer will have to meet enhanced capital and liquidity st...Read More
(Reuters) - Shares of Netflix Inc (NFLX.O) soared 11 percent before the bell on Wednesday, after the company put fears of a slowdown in growth to bed by racking up seven million new subscribers between July and September.The video streaming pioneer shocked Wall Street last quarter by falling short of new subscriber estimates, but Tuesday’s figures put its total customer base at 137 million w...Read More
WASHINGTON, (Reuters) - U.S. homebuilding dropped more than expected in September as construction activity in the South fell by the most in nearly three years, likely held down by Hurricane Florence.Housing starts fell 5.3 percent to a seasonally adjusted annual rate of 1.201 million units last month, the Commerce Department said on Wednesday. Data for August was revised down to show starts rising...Read More