Nov 2 (Reuters) - Facebook Inc (FB.O) announced on Tuesday it is shutting down its facial recognition system which automatically identifies users in photos and videos, citing growing societal concerns about the use of such technology."Regulators are still in the process of providing a clear set of rules governing its use," said Jerome Pesenti, vice president of artificial intelligence at Faceboo...Read More
WASHINGTON (Reuters) - The chair of the U.S. Securities and Exchange Commission (SEC)said on Tuesday it will consider new oversight rules for some platforms for trading U.S. Treasuries, in a move aimed at boosting transparency and competition.Gary Gensler said he asked staff to revisit a 2020 proposal issued here under the Trump administration intended to treat electronic trading platforms for c...Read More
GLASGOW, Nov 2 (Reuters) - More than 100 global leaders have pledged to halt and reverse deforestation and land degradation by the end of the decade, underpinned by $19 billion in public and private funds to invest in protecting and restoring forests.The promise, made in a joint statement issued late on Monday at the COP26 climate talks in Glasgow, was backed by the leaders of countries includin...Read More
(Reuters) -U.S. Treasury Secretary Janet Yellen on Tuesday will push financial institutions to adopt a "greater sense of urgency" about investing in a net-zero economy in meetings with the head of Bank of America and other finance CEOs, Treasury officials said.John Morton, a former private equity adviser and Treasury's first climate counselor, told reporters Yellen would explain new U.S. governmen...Read More
Nov 2 (Reuters) - More than 140,000 drivers are getting $60 million in tips that were illegally withheld by Amazon (AMZN.O) between 2016 and 2019, the Federal Trade Commission said on Tuesday.Earlier this year, the agency sued the tech giant and its subsidiary, Amazon Logistics, alleging the company failed to fully pay tips that drivers in its Amazon Flex program had earned.Amazon Flex drivers d...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) - The Federal Reserve is on the cusp of shifting its monetarypolicies, but it won't be enough to stop the growing inflation pressures, andit is only a matter of time before investors return to gold to pr...Read More
NEW YORK, Nov 2 (Reuters) - Investors are watching everything from bond volatility to inflation measures as they try to gauge how an expected unwind of the U.S. Federal Reserve's easy money policies will reverberate throughout markets.Most market participants believe the Fed will announce the timing of the tapering of its $120 billion per month U.S. government-backed bond buying program at the con...Read More
(Updates Nov. 1 story with additional CEO comment in paragraphs 5-6)Nov 1 (Reuters) - One of the largest U.S. diesel retailers is assembling a fuels trading, processing and distribution powerhouse that could turn a truck stop operator part-owned by billionaire Warren Buffett into the Walmart of petroleum.Known best for its Pilot Flying J service stations, Pilot Company has hired veteran energy tra...Read More
* Graphic: World FX rates in 2021 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Updates headline, quotes and news; adds comments)LONDON, Nov 2 (Reuters) - The pound edged lower on Tuesday, hovering around a three-week low, pressured by uncertainty about whether the Bank of England will raise interest rates this week.Sterling rose to a 20-month high ver...Read More
NEW YORK/LONDON, Nov 2 (Reuters) - The dollar rose slightly as the U.S. Federal Reserve prepared on Tuesday to kick off its two-day policy meeting where it was expected to announce the start of tapering of its massive asset purchases put in place at the start of the COVID-19 pandemic.Investors in recent weeks have priced in a wave of tightening from central banks as they bet policymakers are suffi...Read More
WASHINGTON, Nov 2 (Reuters) - The U.S. residential rental vacancy rate dropped further in the third quarter as the economy continued to normalize after severe disruptions caused by the COVID-19 pandemic, potentially indicating that high inflation could last for a while.The Commerce Department said on Tuesday that the rental vacancy rate fell to 5.8% last quarter, the lowest since the second quarte...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 and silver prices aredown in midday U.S. trading Tuesday, with silver sharply lower. A higher U.S.dollar index and lower crude oil prices today are negative outside markets forthe metals. Some po...Read More
(Kitco News) After building support at the $1,700 an ounce level this year, gold could be the metal to follow in 2022, according to Bloomberg Intelligence."Next year will begin almost 24 months removed from the start of the pandemic, and we see the 2021 bounce in industrial metals vs. the decline in precious at greater risk of reversing," said Bloomberg Intelligence senior commodity analyst Mike M...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) - Agnico Eagle Mines (NYSE:AEM) (TSX: AEM) today announced record exploration spending in 2021, targetinggrowth of the company's mineral reserves and mineral resources at year-end 2021from a record level...Read More
NEW YORK, Nov 2 (Reuters) - Global equity shares scaled a new peak on Tuesday, lifted by rising stocks on Wall Street, and the dollar strengthened as strong earnings drove sentiment while investors await details on the Federal Reserve's decision to taper its massive stimulus.The S&P 500 and Nasdaq stock indexes hit fresh record highs helped by a slew of robust earnings updates, while the STOXX 600...Read More
* Climate Finance Partnership passes $500 mln target* France, Germany, Japan all invest in novel fund* EM investment a key issue at COP26 climate talks (Adds comments by BlackRock CEO Larry Fink in Glasgow)GLASGOW/BOSTON, Nov 2 (Reuters) - BlackRock Inc told Reuters it has raised a target-beating $673 million for an infrastructure fund with backing from the French, German and Japanese governments...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 Mountain Mining (TSXV:GMTN)announced Tuesday that the Ministry of Energy, Mines & Low CarbonInnovation Communications Office hasawarded the company its M-199 Mining Permit for the Elk Gold proje...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) - Harmony Gold Mining todayreported that an employee was fatally injured on Sunday afternoon, following ashaft-related incident, at its Doornkop mine, near Soweto in the Gautengprovince of South Africa."...Read More
WASHINGTON, Nov 2 (Reuters) - The Federal Aviation Administration said Tuesday it had issued a special information bulletin alerting manufacturers, operators and pilots that action may be needed to address potential interference with sensitive aircraft electronics caused by new 5G telecommunications technology.The FAA has been in discussion with the Federal Communications Commissions about its air...Read More
WASHINGTON, Nov 2 (Reuters) - U.S. Treasury Secretary Janet Yellen will urge financial institutions to adopt a "greater sense of urgency" about investing in net-zero economy in meetings with the head of Bank of America and other finance CEOs on Tuesday, Treasury officials said.John Morton, a former private equity adviser and Treasury's first climate counselor, told reporters that Yellen would expl...Read More