Iran executed a gold dealer known as the "Sultan of Coins," in a warning to merchants not to exploit the country's financial troubles as U.S. sanctions squeeze the economy.Vahid Mazloumin was sentenced to death in October after being accused by Iranian authorities of contributing to price hikes by hoarding gold.The very specter of sanctions, even before they were resumed in August, plunged the Ira...Read More

NEW YORK (Reuters) - Blue Apron Holdings Inc (APRN.N) said on Wednesday it would sacrifice overall revenue growth and cut marketing expenses in 2019, sending shares into volatile decline.The forecast comes a day after the meal-kit delivery company reported a steep decline in net revenue for the third quarter, down 28.4 percent at $150.6 million, missing average analyst forecast of $160.3 million,...Read More

DUBAI/LONDON (Reuters) - OPEC and its partners are discussing a proposal to cut oil output by 1.4 million barrels per day (bpd), three sources familiar with the issue said, although Russia may not be on board for such a large reduction.Worried by a drop in oil prices due to slowing demand and record supply from Saudi Arabia, Russia and the United States, the Organization of the Petroleum Exporting...Read More

HONG KONG (Reuters) - Tencent (0700.HK) beat third-quarter profit forecasts on Wednesday but gave no update on a regulatory block in China, the world’s largest gaming market, that has damaged its core business.China has imposed tougher rules on the gaming industry, including a halt to new game approvals as part of a regulatory overhaul and calls to tackle addiction among young people.Tencent...Read More

The Democratic Republic of Congo's state-owned miner sought an urgent meeting to discuss a decision by Glencore Plc unit Katanga Mining Ltd. last week to halt cobalt exports.Katanga, controlled by Glencore, announced Nov. 6 it suspended sales from its Kamoto mine in southeast Congo after detecting levels of uranium in supplies above those allowed for export. Gecamines, the government-controlled mi...Read More

WASHINGTON (Reuters) - The lawmaker expected to head the powerful House Oversight Committee in the new U.S. Congress says one of his first priorities will be investigating why President Donald Trump’s administration decided to ask about citizenship on the 2020 census questionnaire.Democratic Representative Elijah Cummings told Reuters he had not yet prioritized all the issues his committee w...Read More

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(Reuters) - U.S. stocks were higher on Wednesday, after consumer prices in October rose as expected, adding little pressure on the Federal Reserve to raise interest rates swiftly, while a rebound in oil prices lifted energy stocks.Shares of Exxon Mobil Corp (XOM.N) rose 0.5 percent and Chevron Corp (CVX.N) gained 1.6 percent as oil prices recovered on growing prospect of an output cut by OPEC and...Read More

ADDIEVILLE, Ill.(Reuters) - Clouds crowded the Illinois sky as Nick Harre walked away from his combine at the peak of harvest to join four fellow farmers in greeting some unlikely visitors.Inside a nearby seed barn, they made their pitch to eight Sri Lankan government officials: Please buy our soybeans.The wooing of such a tiny market underscores the depth of U.S. farmers’ problems after los...Read More

FRANKFURT - Volkswagen will convert three German factories to build electric cars, as Europe's largest automaker by sales starts mass producing zero-emission vehicles in a major strategy shift following its emissions cheating scandal.VW has provided job guarantees until 2028 for employees at the Emden and Hanover factories, and will spend 1.2 billion euros ($1.4 billion) training workers at Zwicka...Read More

American insiders in the Financials sector sniff change is in the air. Our sector indicator has hit 150% this week which means there are 1.5 stocks in the sector with key insider buying for every one stock with key selling. At this point, the indicator appears to be peaking. An indicator peak implies peak insider buying which often happens around the establishment of significant market support le...Read More

Kellogg updated investors on its turnaround plans yesterdayCereal maker Kellogg Company (NYSE:K) is moving lower in early trading, as analysts react to the company's underwhelming plans for aturnaround, which were announced yesterday at its investor conference. Among the specifics, Kellogg is selling its Keebler bakery brands and cookie business, and said it'll continue to be active in M&A. In re...Read More

AAPL is lower after Guggenheim downgraded the FAANG stockThe shares of Apple Inc. (NASDAQ:AAPL) initially ticked higher out of the gate on broad-market tailwinds, but was last seen down 0.4% to trade at $191.45. The FAANG stock was downgraded to "neutral" from "buy" at Guggenheim, which also removed its $245 price target on the equity. This is the second brokerage firm in as many days to predict...Read More

The world's second largest miner, Rio Tinto, (ASX, LON:RIO) is said to be preparing an offer for a minority stake in Teck Resources' (TSX:TECK.A | TECK.B)(NYSE:TCK) Quebrada Blanca copper mine in northern Chile.Canada's largest diversified miner, which in August received regulatory approval for a $4.8 billion extension of the mine, has been looking for a development partner that could invest $...Read More

The world's second largest miner, Rio Tinto, (ASX, LON:RIO) is said to be preparing an offer for a minority stake in Teck Resources' (TSX:TECK.A | TECK.B)(NYSE:TCK) Quebrada Blanca copper mine in northern Chile.Canada's largest diversified miner, which in August received regulatory approval for a $4.8 billion extension of the mine, has been looking for a development partner that could invest $...Read More

(Kitco News)- Negative sentiment continues to build around tech giantApple (Nasdaq: AAPL), and some analysts have warned that slower iPhone sales could havebroader implications on global growth that could benefit safe-haven assets like gold.In a report Tuesday, Hussein Sayed, chief market strategistat FXTM, said the little smartphone had a significant impact on U.S. grossdomestic product growth an...Read More

(Kitco News) - Negative sentiment continues to build around tech giant Apple (Nasdaq: AAPL), and some analysts have warned that slower iPhone sales could have broader implications on global growth that could benefit safe-haven assets like gold.In a report Tuesday, Hussein Sayed, chief market strategist at FXTM, said the little smartphone had a significant impact on U.S. gross domestic product grow...Read More

FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE) will convert three German factories to build electric cars, as Europe’s largest automaker by sales starts mass producing zero-emission vehicles in a major strategy shift following its emissions cheating scandal.The German company said on Wednesday its plant in Emden, which currently builds the VW Passat, would build electric cars from 2022 onwards...Read More

Not even gold's second straight quarterly decline was enough to shake billionaire hedge-fund manager Ray Dalio's confidence in gold.Dalio recommends gold as hedge against rising political risk.Dalio's Bridgewater Associates maintained its holdings in SPDR Gold Shares, the largest bullion-backed ETF, at 3.9 million shares, and its stake in iShares Gold Trust, the second-largest, at 11.3 million sha...Read More

Both retailers raised their full-year forecasts ahead of the holiday seasonMacy's Inc (NYSE:M) reported stronger-than-expected adjusted third-quarter earnings of 27 cents per share on in-line revenue of $5.4 billion. Macy's also said same-store sales grew at a faster-than-anticipated 3.3%, and the department store chain boosted its full-year profit forecast ahead of the holiday season.In reaction,...Read More