RIO DE JANEIRO, Oct 11 (Reuters) - Brazilian miner SamarcoMineracao SA, an iron-ore joint-venture between Vale SA and BHP , obtained an extension of its stayperiod for additional 180 days, according to a court decision onSaturday reviewed by Reuters.The company had requested an extension of its protectionagainst creditors in order to maintain ongoing talks withbondholders and reach an agreement ab...Read More
(Reuters) - Weeks of stock market volatility have done little to dent the record-setting pace of U.S. initial public offerings, with capital market insiders forecasting a strong finish to the year and a robust pipeline of listings in 2022.More than 2,000 IPOs raised a combined $421 billion globally by the end of September, a record high, as private companies rushed to attain the soaring valuations...Read More
AUSTIN, Texas, Oct 11 (Reuters) - Austin prides itself on "keeping it weird," but the city's success at luring more big companies such as Tesla Inc (TSLA.O) has some residents wary of getting priced out of their unique culture.Tesla's CEO, Elon Musk, said on Thursday the electric car maker will move its headquarters from Palo Alto, California, to Austin, Texas. read moreHousing prices in the...Read More
(Kitco News) - Despite Ethereum underperforming Bitcoin recently because ofthe so called "Ethereum killers," Aydin Kilic, COO of HIVE Blockchain, is stillvery bullish on Ethereum. The "Ethereum killers" are competitors like Solana,Polygon, Cardano, and others.Kilicdiscussed cryptocurrencies with David Lin, Anchor at Kitco News. HIVE Blockchain is the first publicly traded crypto minerlisted on th...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) - Barrick Gold announced yesterday that its Tanzanian mines, North Mara and Bulyanhulu, are both set to meet their 2021 production targets as well as to replace depleted reserves through brownfields expl...Read More
(Kitco News) Bridgewater Associates is warning investors that inflation will not be transitory and central banks worldwide will be powerless to contain price surges without hurting the economy."We're in this situation where you still have this inertia from demand, it is pushing up against constrained supply and that has pushed inflation up," Bob Prince, co-chief investment officer at Bridgewater A...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 aretrading not far from unchanged in subdued midday U.S. trading Monday. Risinggovernment bond yields recently and an appreciating U.S. dollar on the foreign exchangemarket are...Read More
* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Adds quotes, updates headline and rates)LONDON, Oct 11 (Reuters) - Sterling rose against both the euro and the dollar after the Bank of England said inflation levels in Britain were concerning and urged Britons, in interviews published over the weekend, to get ready for ear...Read More
LONDON, Oct 11 (Reuters) - Cryptocurrency analytics firm Elliptic said on Monday it had raised $60 million from investors including SoftBank and Wells Fargo Strategic Capital, the latest blockchain analytics firm to attract mainstream investment.With larger investors warming to cryptocurrencies, blockchain analysis and data firms such as Elliptic are in greater demand, in part due to growing regul...Read More
Friday saw anotherhorrific jobs number which is exactly what the current administration wants.They want to keep stimulus as they work towards universal basic income andsocialized medicine. Gold was rallying just before the number and exploded justafter to $1,781. By the end of the day,gold had closed lower on the day, proving the simple fact that the trend isyour friend. Silver managed to ho...Read More
LONDON (Reuters) - Financial services groups responsible for more than $90 trillion in assets on Monday called for the leaders of the world's largest economies to push through "clear, credible and ambitious" policies to battle climate change.The Glasgow Financial Alliance for Net Zero, chaired by United Nations climate envoy Mark Carney, said the policies, taken together, would restructure the glo...Read More
WASHINGTON, Oct 11 (Reuters) - The World Bank will keep pushing to help developing countries improve their business climates, World Bank President David Malpass said on Monday when asked about the bank"s decision to cancel its flagship "Doing Business" reports after a series of data irregularities and claims of data manipulation.Asked how the bank would rebuild its credibility after the scandal, M...Read More
SYDNEY, Oct 11 (Reuters) - A tech body backed by the Australian units of Facebook, Google and Twitter said on Monday it has set up a special committee to adjudicate complaints over misinformation, a day after the government threatened tougher laws over false and defamatory online posts.The issue of damaging social media posts has emerged as a second battlefront between Big Tech and Australia, whic...Read More
BERLIN, Oct 11 (Reuters) - Canada's Rock Tech Lithium (RCK.V) plans to build a converter plant in Brandenburg, the German state surrounding Berlin, to make battery-grade lithium hydroxide for electric vehicles, the state's energy ministry and the company said on Monday.The plant will be in the town of Guben, a roughly 90-minute drive from where Tesla (TSLA.O) is building its gigafactory, which...Read More
NEW YORK/LONDON (Reuters) - The dollar soared to its highest in nearly three years versus the Japanese yen on Monday as investors remained confident the U.S. Federal Reserve will announce a tapering of its massive bond-buying next month despite softer U.S. payrolls figures.Traders shrugged off Friday’s mostly lacklustre jobs report, pushing U.S. bond yields higher. The yen, which is known fo...Read More
WASHINGTON, Oct 11 (Reuters) - The debt burden of the world's low-income countries rose 12% to a record $860 billion in 2020 as countries responded to the COVID-19 crisis with massive fiscal, monetary, and financial stimulus packages, the World Bank said in a report released Monday.World Bank President David Malpass said the report showed a dramatic increase in the debt vulnerabilities facing low-...Read More
ATLANTA, Oct 11 (Reuters) - Global Payments Inc (GPN.N) CEO Jeff Sloan said in an interview he would be open to a large acquisition again, two years after acquiring peer TSYS in a $21.5 billion all-stock deal, while continuing to chase small bolt-on purchases to bolster growth."I certainly see deals as big as TSYS in our future," Sloan, who has led the Atlanta-based payments processor since 2013...Read More
Oct 8 (Reuters) - The job market recovery for U.S. women faced a setback in September, much as it did about a year ago after many school districts switched to online learning. But the drop-off in the number of women working or looking for a job last month was much smaller than in 2020 as more schools reopened this year.The data, included in the monthly U.S. employment report here released by the...Read More
Oct 11 (Reuters) -China's major copper smelters in September kept outputflatmonth on month, as maintenance and curbs on power usageprevented them from making more metal and cashing in on highertreatment charges, Antaike said on Monday. The 22 smelters surveyed by Antaike churned out 768,300tonnesof refined copper cathode last month, versus 767,600 tonnes inAugust and up 3.8% year on year, the stat...Read More
WASHINGTON, Oct 10 (Reuters) - Data-rigging allegations against International Monetary Fund Managing Director Kristalina Georgieva were set to loom over the opening of week-long IMF-World Bank annual meetings on Monday as the Fund's executive board failed to conclude its review after yet another marathon meeting.The IMF board met on Sunday with Georgieva and the law firm that claims she pressured...Read More