LONDON, March 9 (Reuters) - British economic growth weakenedin the three months to February and is likely to soften furtherthis month due to unusually snowy weather last week, theNational Institute of Economic and Social Research estimated onFriday."We estimate that economic growth nudged lower to 0.3 percent in the 3 months to February. Activity has eased slightlyand is likely to slow furthe...Read More
BRUSSELS, March 9 (Reuters) - U.S. President Donald Trump'sspeech introducing steel and aluminium tariffs sounded veryprotectionist, European Union Commission Vice President JyrkiKatainen said on Friday."When I read the speech of President Trump and when he wastalking about economic security, to my ears it sounded veryprotectionist: economy without competition," Katainen told anews confe...Read More
* Industry warns shipments will be displaced to Europe* Some of the impact could be offset by U.S. operations* European sector recovers some losses (Writes through, updates prices)By Christoph Steitz and Maytaal AngelFRANKFURT/LONDON, March 9 (Reuters) - European steelmakersare pinning their hopes on the European Union being able tonegotiate an exemption from new U.S. steel import tariffs thathave...Read More
(Adds Trump speaking with Australian PM Turnbull)* Treasury Secretary Mnuchin opens way for more exemptions* Japan, EU deny exports threaten U.S. national security* Brazil, Argentina, South Korea, Australia want waivers* Top trade academic dubs Trump tariffs "small potatoes" * Chinese steel makers demand retaliation on coalBy Lindsay Dunsmuir, Robin Emmott and Ruby LianWASHINGTON/BRUSSEL...Read More
LONDON, March 9 (Reuters) - Britain will work with theEuropean Union to consider the scope of any exemptions fromimpending U.S. tariffs on metals after President Donald Trumpintroduced levies on steel and aluminium imports, Prime MinisterTheresa May's spokesman said on Friday.The EU has said it should be exempt from the tariffs as thebloc is a close ally of the United States. Britain is preparingt...Read More
(Adds context)PARIS, March 9 (Reuters) - Europe must respond to U.S.President Donald Trump's new tariffs on steel and aluminium witha united voice if its eventual counter-measures are to have animpact, French Finance Minister Bruno Le Maire said on Friday.Trump pressed ahead on Thursday with import tariffs of 25percent on steel and 10 percent for aluminum but exempted Canadaand Mexico and offered...Read More
VIENNA, March 9 (Reuters) - Austrian steelmaker Voestalpine will monitor the effects of new U.S. tariffs on steeland aluminium imports and may not invest further in the UnitedStates until it has a clear picture of the situation, its chiefexecutive said on Friday."The United States remains attractive but it could be thatthere is a certain pause in our investment activity until thepolitical con...Read More
Canada's largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) said Friday it expects to lose about 200,000 tonnes in coal output due to an almost two-month interruption at its Elkview coal mine in British Columbia.The Vancouver-based miner, which confirmed the restart of the mine's drying complex, said repairs will cost less than $10 million, in line with previous estimates.F...Read More
OSLO, March 9 (Reuters) - Norwegian aluminium-maker NorskHydro ASA expects to see a negative impact from theU.S. decision to impose import tariffs, a company spokesman saidon Friday."The introduction of unilateral trade barriers such asquotas and tariffs will negatively effect Hydro and may distortnormal trade," said company spokesman Oeyvind Breivik."There is some uncertainty over...Read More
* Gold bounces off lows* U.S. non-farm payrolls post largest gain in 1-1/2 years* Slower wage growth weakens U.S. dollar (Recasts, updates prices; adds comment, NEW YORK to dateline)By Renita D. Young and Eric OnstadNEW YORK/LONDON, March 9 (Reuters) - Gold prices bounced offtheir lows on Friday after the U.S. dollar slipped against mostof its peers as slowing wage gains foreshadowed a gradualinfl...Read More
DRAM prices still on the rise in 1Q18: PC DRAM +6.9% QoQ, mobile DRAM +2.9%, server DRAM +3%.The price of server DRAM to continue to go up by 2-3% QoQ every quarter on robust demand from data centers.The price of mobile DRAM to continue to increase QoQ until 3Q1, helped by limited supply.Chinese penetration into memory semiconductor market not a real threat until 2020; maintain Overweight on the s...Read More
* Voestalpine says up to 3 pct of group sales affected* Thyssenkrupp supplies 400,000-500,000 tonnes/year to U.S.* Voestalpine shares down 1.6 pct, Thyssenkrupp up 0.8 pct (Recasts with German steel association, Thyssenkrupp)ZURICH/FRANKFURT, March 9 (Reuters) - New U.S. tariffs onsteel and aluminium imports will have a limited impact on two ofEurope's top steelmakers, the companies said on Friday...Read More
The Constitutional Court of Guatemala will take longer than expected to decide whether precious metals miner Tahoe Resources (TSX:THO)(NYSE:TAHO) can resume operations at its Escobal silver mine, the company said.While Tahoe has not yet received the formal resolution, it said the delay is in part because the judge requires certain information that has to be provided within 15 business days b...Read More
JOHANNESBURG, March 9 (Reuters) - South Africa's rand edgedfirmer on Friday, pausing a week-long slide on fears about theimpact of a potential global trade war following U.S. PresidentDonald Trump's plan to impose tariffs on steel imports.At 0645 GMT the rand was 0.04 percent weaker at11.9200 per dollar, having touched a low of 11.9450 overnight,bringing it closer to the 12.00 technical milestone...Read More
U.S. household debt jumped in the fourth quarter at the fastest pace of this expansion while wealth gains continued amid a rising stock market, underscoring the forces behind recent strength in consumer spending, a Federal Reserve report showed Thursday.Highlights of Household Wealth (Fourth Quarter)Household debt increased at 5.2% annual rate, most since 4Q 2007, after 3.5% in 3QNet worth&#x...Read More
Florian GrummesPosted Mar 8, 2018After failing at 11,800 USD for the second time Bitcoin has been quickly losing ground. Over the last couple of hours prices crashed more than 1,000 USD down to 9,400 USD. That´s a drawdown of nearly 20% in just three days. Volatility is obviously back since the market has finished its “slowly creeping up” phase.Technically Bi...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow remains more than 1,700 points below its all-time high of Jan. 26.Jobless claims in the U.S. for the week ended March 3, rose 21,000 to 231,000, rebounding from a more than 48-year low.Donald Trump announced a 25% tariff on imported steel and a 10% levy on non-American aluminum. Wall Street Overview The Dow Jones Industrial Ave...Read More
U.S. to impose 25% levy on steel and 10% on aluminumGreenback rises against euro; Treasury yields declineDraghi Says Change in ECB's Language Was UnanimousU.S. stocks rose after President Donald Trump announced tariffs that were narrower than some traders had anticipated. Treasuries and the dollar gained.The S&P 500 advanced for the fourth time in five days as investors found relief in the pre...Read More
3 Hot Things Happening in the Markets Right Now It took just over a decade, but the S&P Financials sector has almost erased the massive losses inflicted by the Great Recession, notes Yardeni Research. The sector's stock price index is just 5.8% off its peak 11 years ago on February 7, 2007.Cigna (CI) will buy Express Scripts (ESRX) in a monster $67 billion deal. The question now: who will Am...Read More
I've warned repeatedly that government regulators would be putting the squeeze on bitcoin and other cryptocurrencies.Well, the noose just got tighter.The Securities and Exchange Commission (SEC) announced yesterday that bitcoin and many other cryptocurrencies meet the government's definition of a security and are therefore subject to regulation. Importantly, crypto exchanges must register with the...Read More