WASHINGTON (Reuters) - Back when President Donald Trump was just a New York City real estate developer, he did battle over a Manhattan building project with a local U.S. congressman, whom he criticized as “one of the most egregious hacks in contemporary politics.”That congressman, Jerrold Nadler, is now a senior member of the U.S. House of Representatives and one of a handful of top De...Read More
LONDON (Reuters) - Britain will scale back and then end in 2023 a flagship “Help to Buy” equity loan scheme, an initiative which has helped first-time buyers get onto the property ladder by allowing them to purchase a new home with as little as a 5 percent deposit.At the moment those taking advantage of the program, which is due to end in March 2021, can buy a property worth up to 600,...Read More
LONDON (Reuters) - British public debt looks set to remain high for a long time and finance minister Philip Hammond’s budget on Monday does not change that view, ratings agency Moody’s said.“Today’s budget confirms our expectation that we won’t see a material reversal in the UK’s high public debt levels for some time and that elevated debt levels will continue t...Read More
Prices for manganese ore imported into China on an fob basis ticked upward in the pricing session that ended on Friday October 26, while trading activity started to pick up in China before the onset of winter. High- and low-grade manganese ore prices showed modest increases Manganese ore grade prices in China ticked upward Falling bids weigh on Indian silico-manganese prices US focuses on long-ter...Read More
NEW YORK (Reuters) - Former U.S. President Jimmy Carter waded into the heated governor’s race in his home state of Georgia on Monday, asking the Republican candidate to step down from his role as the state’s top elections official.Carter said he was concerned that popular confidence in Georgia’s gubernatorial election would be threatened if the candidate, Brian Kemp, were to rema...Read More
Merkel, 64, has been chairwoman of her conservative Christian Democrats (CDU) since 2000 and chancellor since 2005. Her decision to step down as chairwoman comes after her party suffered its second regional election setback in as many weeks.Merkel made the announcement a day after Sunday’s vote in the state of Hesse, at which the CDU came first but suffered a slump in support from the last e...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The INK CIN Index tumbled yet again last week, shedding 32.65 points or 2.8%. The Index has now endured a nearly vertical correction of over 9% these past four weeks.Interestingly, our long-term momentum indicator MACD rose for the second time in two weeks, climbing from -4.2 to -3.76. Ou...Read More
LONDON (Reuters) - Britain has raised its official forecast for economic growth in 2019 while the outlook for subsequent years was unchanged or slightly higher, finance minister Philip Hammond said on Monday as he outlined his annual budget.The country's official budget forecasters now expect gross domestic product will grow by 1.6 percent in 2019, compared with a forecast of 1.3 percent made in M...Read More
The need for investment in new lithium projects creates a need for risk management tools, but the market's immaturity creates challenges, according to panelists at an LME focus session during this year's annual LME Week. Increasing demand for lithium compounds arising out of the electric vehicle and battery boom has created an appetite to bring new projects on stream, but there are risks associate...Read More
LONDON (Reuters) - European shares, set for their worst monthly performance since August 2015, opened in positive territory on Monday in a tentative rebound from a sell-off which has depressed them to a level not seen since December 2016.At 0957 GMT, the pan-European STOXX 600 was up 1 percent with most bourses firmly in the black with U.S. stock futures turning positive despite worries about Chin...Read More
India's top court Monday directed the federal electricity regulator to decide within 8 weeks on approving revised tariffs for three power producers in the western state of Gujarat due to increased cost of imported coal.The Gujarat government sought the top court's intervention to implement a state government panel's report that recommended implementing a cost-reflective tariff, which would mirror...Read More
BERLIN (Reuters) - Angela Merkel heralded on Monday the end of a 13-year era in which she has dominated German and European politics, saying she would not seek re-election as head of her ruling conservatives and that this would be her last term as chancellor.Merkel, 64, has been chairwoman of Germany's Christian Democrats (CDU) since 2000 and chancellor since 2005, making her one of the longest se...Read More
NEW YORK, Oct 29 (Reuters) - Yields on U.S. Treasury bonds rose modestly on Monday morning as Wall Street recovered from a dramatic sell-off last week that drove demand for the safe-haven debt.U.S. equities have been rocked in October as companies reported that tariffs, rising borrowing costs and a slowdown in China hurt earnings in the third quarter and are expected to do the same in the fourth.T...Read More
TORONTO (Reuters) - U.S. cannabis retailer Curaleaf Holdings Inc CURA.CD opened lower in its trading debut in Toronto on Monday after amassing $400 million in the biggest equity raising in Canada’s marijuana industry.Curaleaf opened at C$8.70 on the Canadian Securities Exchange (CSE), compared with the offer price of C$11.45, which was near the top end of a previously disclosed range of C$8....Read More
Vietnam's Southern Steel Sheet Co (SSSC) is targeting a larger share of the coated coil market by adding a third galvanizing line to its Nhon Trach operations in the country's Dong Nai province.Italian equipment supplier Tenova will supply the company - a joint venture of Vietnam Steel Corp, Japan's Sumitomo Corp and Malaysia's FIW Steel - with a galvanized coil line with capacity of 150,000 tonne...Read More
LONDON (Reuters) - German bond yields rose on Monday on growing political uncertainty in the euro zone’s powerhouse economy, while Italy’s borrowing costs fell sharply on relief that Standard & Poor’s left its credit rating unchanged.German Chancellor Angela Merkel has told senior members of her Christian Democrats (CDU) that she will not seek re-election as party leader at a...Read More
Oct 29 (Reuters) - Canada's main stock index bounced back from last week's sell-off to open higher on Monday, tracking gains in global stocks, partly due to relief over an unchanged rating on Italy.* At 9:30 a.m. ET (13:30 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 91.77 points, or 0.62 percent, at 14,980.03.Reporting by Amy Caren Daniel in Bengaluru; Editing by Arun Koy...Read More
China's hot-rolled coil prices dropped on Monday October 29 amid weak demand, with trading activity being described as "very sparse." DomesticEastern China (Shanghai): 4,150-4,170 yuan ($597-600) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 4,080-4,090 yuan per tonne, narrowing downward by 10 yuan per tonneTrading today was very thin during the day, with traders in both the northe...Read More
LONDON (Reuters) - Oil prices inched lower on Monday as concern over the global economy put crude on track for its biggest monthly fall since mid-2016.Brent crude oil futures LCOc1 were at $77.59 a barrel by 1225 GMT, down 3 cents from their last close, while U.S. crude futures CLc1 were down 6 cents at $67.53.Even with U.S. sanctions on Iranian exports due to come into force in under a week, oil...Read More
China's ferrous futures fell during morning trading on Monday October 29 after the central Chinese government voiced its objection over what it considered to be indiscriminate restrictions to cut emissions.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,168 yuan ($600) per tonne, down 34 yuan per tonneJanuary hot rolled coil: 3,854 yuan per tonne, down 41 yuan p...Read More