WOLFSBURG, Germany (Reuters) - Volkswagen (VOWG_p.DE) expects to become the most profitable manufacturer of electric cars thanks to a multi-billion euro expansion plan to mass produce battery driven vehicles, Chief Executive Herbert Diess said on Friday.VW will spend almost 44 billion euros ($50 billion) on developing electric cars, autonomous driving and new mobility services by 2023 and explore...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
"He [Powell] could have leeway with inflation falling back underneath the Fed's 2% target, so that he actually has formal cover to pause."Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author...Read More
The Dow and the S&P 500 could be cut in half and they would still be overvalued, Fund Manager Dave Kranzler tells Silver Doctors. Kranzler thinks the fundamentals are showing the economy is headed south more quickly than many people are expecting. Kranzler estimates that the 2019 fiscal deficit could end up as high as $1.8 trillion, the largest in history. In that case, interest rates would need t...Read More
Buyers avoided making new deals in the United States pig iron market during the week ended Friday November 16 because they had restocked earlier in the month, Fastmarkets was told.Fastmarkets' price assessment for US imports of pig iron remained unchanged at $370-385 per tonne cfr on November 16.Numerous deals for pig iron for December deliveries to the US were done with the Commonwealth of Indepe...Read More
According to a new report from the U.K.'s Children's Commissioner's Office, by the time a kid becomes a teen in today's world, their parents will have uploaded an average of 1300 photos and videos of them. Add in any media kids post of themselves, and by the time they're 18, they'll have about 70,000 photos and videos of themselves online. And the implications are massive. The Resident breaks it d...Read More
LONDON (Reuters) - A group of eurosceptics who are leading a bid to oust British Prime Minister Theresa May might not know until Monday if they have enough letters to trigger a vote of confidence, the BBC’s political editor said on Friday.“Don’t necessarily expect to hear anything from Brady, who is the person who really knows, until Monday as to whether threshold has been reache...Read More
In a letter to shareholders, McEwen Mining (TSX: MUX; NYSE: MUX) updated its progress at the Gold Bar project in central Nevada and confirmed commercial production is expected to begin in the first quarter of next year.The company completed the heap leach pad and installed crushing, conveying and agglomeration systems this month. For the rest of the year, its focus will be on finishing the proce...Read More
Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK), a gold royalty company with a portfolio centered on the Spring Valley Gold Project in Nevada, has reported that Waterton Global Resource Management, the project's owner/operator, is drilling on the property. The company first reported the drilling on October 31, and followed up on November 13 with more details.The royalty company noted that Waterton is...Read More
Yale University Professor Stephen Roach examines the United States concentrating on trade with China as it runs deficits with 102 nations. Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm's chief economist, is a senior fellow at Yale University's Jackson Institute of Global Affairs and a senior lecturer at Yale's School of Management. He the author, most recently, of Unbalance...Read More
You may have heard that the near-record stock market internals have turned ghastly, where most companies are lagging, leaving only a few standard-bearers to prop up the nameplate DJIA index (which gets all the news coverage, in the name of our "strong" economy.) But what you aren't being told is that the pool of buyers who are actually purchasing stocks and keeping even the few market leaders prop...Read More
The major gold miners' stocks remain mired in universal bearishness, largely left for dead. They are just wrapping up their third-quarter earnings season, which proved challenging. Lower gold prices cut deeply into cash flows and profits, and production-growth struggles persisted. But these elite companies did hold the line on costs, portending soaring earnings as gold recovers. Their absurdly-che...Read More
The World Gold Council has published an update to its Guidance Note on all- in sustaining costs (AISC) and "all- in costs", which was first issued in June 2013.The Council worked closely with its member companies to develop these non-GAAP measures which are intended to provide further transparency into the costs associated with producing gold. These non-GAAP measures are intended to provide furthe...Read More
Global ferrous scrap prices surrendered to the downward pressure created by weak mill demand and tepid finished steel sales during the working week from Monday November 12 to Friday November 16, with the exception of those in India.Turkish import scrap prices fell, with only four cargo bookings made during the week. Import prices in Taiwan and Vietnam also continued to trend downward. India's impo...Read More
Ontario-based White Metal Resources Corp. (TSXV: WHM) is growing its recently acquired Williams Gold property, located in central Newfoundland, where a gold rush seems to be taking place.In a media statement, the junior explorer announced that it has staked an additional 50 claim units totaling 1,250 hectares near the project and south of the former producing Beaver Brook Antimony mine.In detail,...Read More
OceanaGold (TSE: OGC) is interested in buying Bravada Gold Corporation's (TSXV: BVA) low-sulfidation Highland gold/silver project, located within the Walker Lane Gold trend in western Nevada, USA.Both companies have signed a letter of intent which stipulates that Oceana has until December 15, 2018, to accept the opportunity of earning up to 75% interest in the project.In detail, Oceana may earn a...Read More
Gold Fields Ltd. is having to sneak maintenance teams into its South Deep mine in South Africa after protesters shot at vehicles trying to enter the site, where workers have been on strike since Nov. 2.Small teams of essential workers are using secret entrances to enter the mine and sometimes have to be smuggled in during the night to pump water, monitor equipment and undertake general maintenance...Read More
LONDON (Reuters) - British Prime Minister Theresa May won the backing of two senior ministers on Friday as she battled to defend her much-criticized draft divorce deal with the European Union as calls grew for a vote of no confidence in her leadership.More than two years after the United Kingdom voted to leave the EU, it is still unclear how, on what terms or even if it will leave the EU as planne...Read More
* India premiums at $3 versus discount last week* Premiums in China, Hong Kong edge higherMUMBAI/BENGALURU - Gold is trading at premium in India for the first time in more than two months on robust demand following a busy festival week, while a dip in global prices earlier this week helped bullion's appeal in some Asian hubs.Dealers in India, the world's second biggest gold consumer after China, w...Read More
The Philippines will allow nine mines currently halted to resume operations if they correct previous violations of environmental rules, a government official said Friday, in a move that could increase global nickel supply.The mines, six of which are nickel operations, were permanently shut in early 2017 as part of an environmental crackdown on the sector. Environment and Natural Resources Secreta...Read More