WASHINGTON, Oct 19 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Tuesday she welcomed a revised proposal from congressional Democrats to raise a bank account tax reporting threshold to $10,000 in annual transactions from a proposed $600 level, with an exemption for wage earners.The change was made after major opposition from banking and other lobbying groups who charged that initial p...Read More
(Reuters) - The obstacles making it difficult for many women to work, combined with an increase in retirements, could hinder the labor market recovery and be a drag on the U.S. economy, Federal Reserve Governor Michelle Bowman said on Tuesday.Women with young children left the labor force at a higher rate than other workers and some are still struggling to find childcare they can afford, Bowman sa...Read More
WASHINGTON (Reuters) -A top Democrat in the U.S. House of Representatives on Tuesday said he would support allowing the U.S. Treasury secretary to unilaterally extend the limit on federal borrowing, with Congress then empowered to vote on vetoing such decisions."It's a good option," House Majority Leader Steny Hoyer told reporters in a weekly press conference. He said the Treasury secretary should...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday October 19 and their latest price moves.China Lower-than-expected October tender prices from major stainless steel mills and weakened demand outlook following production cuts in the stainless steel sector weighed on market sentiment.The domestic spot ferro-chrome market softened with lower offers heard...Read More
Precious metal miner Hochschild Mining (LSE: HOC) is demerging to create a stand-alone business focused on rare earths, Aclara Resources. Aclara is a development-stage rare earth mineral resources company with a land package of mineral concessions in Chile, according to a press release from Hochschild. It's Penco Module covers a surface area of approximately 600 hectares and contains ionic clays t...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) - Vital Metals (ASX: VML), thefirst rare earths producer in Canada and only the second in North America,announced Tuesday that it has signed a non-binding Memorandum of Understanding("MOU") with rare ear...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) - Centamin (TSX: CEE) reportedtoday that its Q3 2021 gold production in Egypt of 103,546 ounces was 19% lowerthan in Q3 2020 but slightly ahead of 2021 schedule. The company also reportedthat revenue gen...Read More
For despite Base operationally doing well, paying big dividends and it being, as one analyst put it during a question on a Base conference call today, "a pretty amazing mineral sands market at theRead More
NEW YORK, Oct 19 (Reuters) - The launch of the first bitcoin futures exchange traded fund (ETF) on Tuesday marks a major step toward legitimizing the cryptocurrency, but some ETF investors may face higher costs compared with buying the digital currency itself.Barring any last-minute objection from the U.S. Securities and Exchange Commission, the ProShares Bitcoin Strategy ETF will begin trading on...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) - Silver has been looking bid over the last few session but theprecious metal is heading to a tricky resistance zone. The area marked by thegreen shaded zone has been used on three previous occasions on...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) - Jervois Global (TSX-V: JRV) todayannounced that underground construction of its 100%-owned Idaho CobaltOperations ("ICO") in the state of Idaho, United States, has commenced."This historic step marks t...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 19 that are worth another look.Vietnam's Hoa Phat Steel is close to obtaining certification from the United Kingdom Certification Authority for Reinforcing Steels (Cares), which would allow it to sell its rebar to the key markets of Singapore...Read More
WASHINGTON, Oct 19 (Reuters) - U.S. labor shortages may outlast the coronavirus pandemic and limit overall economic growth unless the country comes up with better education, health and childcare policies to boost the number of people willing and able to work, Richmond Federal Reserve President Thomas Barkin said on Tuesday."As our workforce ages and birthrates decline, we could find workforce avai...Read More
The Russian government has removed or reduced existing export duties on ferro-alloys, effective October 15, after responding to domestic industry concerns, trade sources said.Russia implemented its latest export tax changes on Friday October 15, a move which included scrapping the export taxon ferro-alloys such as ferro-titanium and ferro-tungsten.On Monday, Russia's Ministry of Economic Developme...Read More
At a time when the Wall Street banks are scratching their heads for credible explanations why they are keeping (or raising) their year-end S&P targets at a time when economic growth is in freefall and inflation is soaring (read: stagflation), an unexpected source of honesty has emerged - the Atlanta Fed, which now sees the US on the verge of contraction.In its latest GDPNow forecast published...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) - BHP reported yesterday thatthe group copper equivalent production decreased by 5% in the September 2021quarter following lower minerals volumes largely a result of plannedmaintenance.The company said i...Read More
MELBOURNE, Oct 19 (Reuters) - A mining industry group inWestern Australia said it opposes a proposed overhaul ofnational heritage laws that would give greater control toAboriginal landholders in the wake of the destruction of ancientsites.A federal parliamentary inquiry into the legal destructionlast year of ancient rock shelters at Juukan Gorge, WesternAustralia, by Rio Tinto recommended on Monda...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 19 that are worth another look.Vietnam's Hoa Phat Steel is close to obtaining certification from the United Kingdom Certification Authority for Reinforcing Steels (Cares), which would allow it to sell its rebar to the key markets of Singapore...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) - Bitcoin-U.S. dollarare higherin early U.S. trading Tuesday. The Bitcoin bulls have the solid overallnear-term technical advantage as prices hover near a seven-month high and arein a solid uptrend. Ther...Read More
Steel scrap prices in the main Mexican markets of Monterrey and Bajio continued their downward trend in the week ended Friday October 15, but prices diverged widely between buyers.Price cuts of 300-700 pesos ($14-34) per tonne were common last week, with some scrap buyers seeing comfortable inventory levels and steady supply.Fastmarkets' assessment of the steel scrap No1 heavy melt, consu...Read More