WASHINGTON (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Friday that President Donald Trump does not feel he needs to attack the Federal Reserve and respects its independence.“The president likes low interest rates. The president is concerned about the Fed raising interest rates too much and slowing down the economy and those are obviously natural concerns,” Mnuchin said in...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump would go through with plans to meet with Chinese President Xi Jinping at the G20 summit next month if it looked like it would be a positive meeting, U.S. Treasury Secretary Steven Mnuchin said on Friday.“If it looks like we can make positive direction, then I’m sure that the president will have the meeting. But we need to do work in ad...Read More
CALGARY - A financial analyst says prices being paid for Western Canadian oilsands bitumen have fallen so far that many producers are losing money on every barrel sold into the spot market.Analyst Matt Murphy of Tudor Pickering Holt & Co. says recent headlines have been focused on the falling value of the Western Canada Select price, but that measure is for a blend of heavy, sticky bitumen and...Read More
FRANKFURT (Reuters) - The European Central Bank must be mindful of financial stability risks, including those created by its own ultra easy policy, ECB board member Sabine Lautenschlaeger said on Friday, weighing in on a recent debate.“The ECB cannot and should not turn a blind eye to risks to financial stability,” Lautenschlaeger said in Malta. “Without financial stability, it b...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
LONDON (Reuters) - Oil markets look “adequately supplied for now” after a big production increase in the last six months, but the industry is coming under strain, the West’s energy watchdog said on Friday.The International Energy Agency said in its monthly report that the world’s spare oil production capacity was down to 2 percent of global demand, with further falls likely...Read More
NUSA DUA, Indonesia (Reuters) - The euro zone’s continuing expansion has vindicated European Central Bank policy but risks to the outlook, from trade protectionism to the threat of a hard Brexit, are on the rise, ECB President Mario Draghi said on Friday.The ECB has been dialing back stimulus for months and expects to end a 2.6 trillion euro asset purchase scheme in December, arguing that it...Read More
Unless you've been investing from under a rock, you know the two hottest investments of the past two years have been cryptocurrency and legal cannabis.But have you considered what these markets have in common?A few things, actually.They're both brand-new markets considered to be alternative investments. They're both being driven by hype and speculation. And both seem to appeal to younger investors...Read More
Perseus Mining Limited (ASX/TSX: PRU) is a diversified West African-focused gold production, development and exploration company, producing gold from its two mines in Ghana and C??te d'Ivoire, and developing the third gold mine in C??te d'Ivoire. Perseus' growth strategy aims to transform the Company into a 500,000-ounce per year gold producer, with three operating mines in West Africa by 2020. We...Read More
* Dollar recovers as equities gain, Fed hikes in focus * Euro declines as ECB's Draghi moderates inflation outlook * Yen, Swiss franc attract modest safe-haven demand * Graphic: World FX rates in 2018 (Adds detail, updates prices)By Tom FinnLONDON, Oct 12 (Reuters) - The dollar edged up on Friday,reflecting investor confidence in the U.S. economy, despitecriticism by President Donald Trump of the...Read More
* China's Sept unwrought copper imports at 521,000 T-customs * Open arbitrage to send metal to China swells shipments-analyst * Copper concs imports at new record high of 1.93 mln T (Adds background, analyst quote)By Tom DalyBEIJING, Oct 12 (Reuters) - China's unwrought copper importssurged to their highest in 2-1/2 years in September, whilecopper concentrate imports climbed an all-time high as th...Read More
WASHINGTON (Reuters) - Alphabet Inc’s (GOOGL.O) Google unit has told U.S. lawmakers it is considering “a variety of options” for offering additional services in China.The company has come under criticism after reports it is considering re-entering the Chinese search engine market and would agree to comply with China’s internet censorship and surveillance policies.In an Aug....Read More
Domestic Chinese battery-grade lithium carbonate and hydroxide prices softened on Thursday October 11 due to lower concluded prices after the Golden Week national holiday on October 1-7. Cheaper lithium compounds produced from brine in China keep dragging spot prices down while suppliers of lithium compounds produced from hard rock are resisting lower bids. The Chinese lithium carbonate price...Read More
(Reuters) - Wells Fargo & Co (WFC.N) posted a 32 percent jump in quarterly profit on Friday, as the bank made headway in its cost-cutting plan and worked to put past misdeeds behind it.Non-interest expenses in the third quarter fell 4.1 percent to $13.8 billion, in the first year-over-year decline this year.Wells Fargo, the fourth largest U.S. lender by assets, has vowed to chop billions of co...Read More
(Reuters) - The U.S. National Security Agency’s top oversight official, Robert Storch, is working to repair the spy agency’s reputation with whistleblowers in an effort to encourage staff to report wrongdoing internally, rather than go public.“It’s really important we encourage whistleblowers to come forward and that they feel comfortable doing so and if there are allegatio...Read More
Domestic prices for coated steel coil products in Turkey continued to decrease in the week ended Friday October 12, with demand remaining poor in the local market.Yet demand in the export market, mainly Europe, was quite good for coated coil.Some Turkish producers decreased their prices, however, because of the weak domestic demand in the country.Domestic pricesOne northern producer in Turkey was...Read More
BRUSSELS (Reuters) - Italy is resisting a European Union push to impose sanctions on states who carry out cyberattacks, a move that appears in line with Rome’s calls to de-escalate tensions with Russia but that could alienate Italy from its EU allies.Diplomats said the sanctions plan is meant to strengthen EU defenses and deterrence against cyberattacks, in particular from Russia, which has...Read More
NEW YORK (Reuters) - Months after he lost millions when an esoteric corner of financial markets cratered in February, former Target Corp store manager Seth Golden is betting against volatility again.Golden, who says wagers on market calm earned him millions in the past six years, is among the investors who have kept trading complex financial products linked to the Cboe Volatility Index .VIX - Wall...Read More
(Reuters) - Facebook Inc (FB.O) said on Friday it had confirmed that the attackers in the mass security breach it announced late last month accessed the accounts of about 30 million people in total and stole name and contact details for 29 million.Facebook Inc said in late September that hackers stole digital login codes allowing them to take over nearly 50 million user accounts in its worst secur...Read More
WASHINGTON (Reuters) - The United States on Friday said it was granting investors another month to divest their holdings of sanctioned Russian companies EN+ <ENPLq.L > and Rusal and was giving the firms more time to address their business operations.The U.S. Treasury Department in April imposed sanctions against billionaire Oleg Deripaska and eight companies in which he is a large shareholde...Read More