TOKYO, June 11 (Reuters) - Japan's Mitsubishi Materials Corp on Monday announced a top management reshuffle after the maker of metals and other products for the first time explicitly accepted responsibility over a data tampering scandal dating back to last year.In a statement, Mitsubishi Materials said its president Akira Takeuchi will step down from that role and assume the position of chairman a...Read More
TOKYO, June 11 (Reuters) - Japan's Mitsubishi Materials Corp on Monday announced a top management reshuffle after the maker of metals and other products for the first time explicitly accepted responsibility over a data tampering scandal dating back to last year.In a statement, Mitsubishi Materials said its president Akira Takeuchi will step down from that role and assume the position of chairman a...Read More
LONDON (Reuters) - Prime Minister Theresa May will urge her Conservative Party on Monday to show unity when parliament votes on changes to her Brexit blueprint, a potential showdown that could reshape her approach to Britain’s departure from the EU.Lawmakers will vote on Tuesday and Wednesday this week on amendments to the EU withdrawal bill, legislation to sever ties with the bloc by essent...Read More
UNITED NATIONS (Reuters) - The United Nations is prepared to play a verification role if asked following talks in Singapore between U.S. President Donald Trump and North Korean leader Kim Jong Un on the denuclearization of the Korean peninsula, U.N. Secretary General Antonio Guterres said on Monday.“Relevant parts of the United Nations system stand ready to support this process in any way, i...Read More
Traders are holding tight ahead of the busy weekStocks are cautiously higher today, as the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) were last seen trading modestly above breakeven -- though the former is pacing for its fourth straight win. Lingering headwinds from this weekend's Group of Seven (G-7) event are being compounded by uncertainty surrounding tomorrow's North Korea-U.S....Read More
SANTIAGO, June 11 (Reuters) - Unionized workers at BHP Billiton's Spence copper mine in northern Chile have approved a new labor contract, union president Ronald Salcedo said on Monday.Spence is one of the Anglo-Australian miner two mines in Chile. The other, Escondida, the world' largest copper mine, earlier this month entered into labor negotiations following a historic strike that shut down the...Read More
SAN FRANCISCO, June 11 (Reuters) - The $100 billion SoftBank Vision Fund has made its second-ever investment in an enterprise software company, as the massive fund broadens its portfolio beyond consumer tech firms such as Uber and DoorDash.The Vision Fund led a $250 million investment into data storage company Cohesity, a California-based company that provides services to help businesses store, ma...Read More
NEW YORK, June 11 (Reuters) - U.S. inflation expectations were flat in May after several months of gains, while Americans grew more pessimistic about income and spending growth, according to a Federal Reserve Bank of New York survey published on Monday.The survey of consumer expectations, which the Fed considers along with other data on U.S. price pressures, remained at a median of 2.98 percent fo...Read More
NEW YORK, June 11 (Reuters) - U.S. inflation expectations were flat in May after several months of gains, while Americans grew more pessimistic about income and spending growth, according to a Federal Reserve Bank of New York survey published on Monday.The survey of consumer expectations, which the Fed considers along with other data on U.S. price pressures, remained at a median of 2.98 percent fo...Read More
(Kitco News) - Large speculators cuttheir net bullish positioning in gold futures but upped their bullish stance insilver during the most recent reporting week for data compiled by the CommodityFutures Trading Commission.The price action reflectedthose changes in positioning. During the week-long period to June 4 that wascovered by the report, Comex August gold slipped $6.80 to $1,304.10 an ounce,...Read More
(Kitco News) - Large speculators cut their net bullish positioning in gold futures but upped their bullish stance in silver during the most recent reporting week for data compiled by the Commodity Futures Trading Commission.The price action reflected those changes in positioning. During the week-long period to June 4 that was covered by the report, Comex August gold slipped $6.80 to $1,304.10 an o...Read More
BERLIN (Reuters) - Germany’s DIHK Chambers of Commerce and Industry said on Monday the escalating trade dispute with the United States is causing huge uncertainty among German exporters that are also indirectly burdened by U.S. sanctions against Iran and Russia.U.S. President Donald Trump backed out of a joint communique agreed by Group of Seven leaders in Canada at the weekend that mentione...Read More
* Treasury to sell $54 bln 3-yr, 10-yr notes Monday* Fed expected to raise rates on Wednesday* ECB, BoJ meetings in focus this weekBy Karen BrettellNEW YORK, June 11 (Reuters) - U.S. Treasury yields rose on Monday before the Treasury Department is due to sell $54 billion in new coupon-bearing supply, and with the Federal Reserve expected to raise interest rates on Wednesday.The Treasury Department...Read More
(Kitco News) - Gold priceshave moved to modestly higher levels and to their dailyhighs in late-morning action Monday. Some evening of futures positions ahead ofTuesday's summit meeting between the U.S. and North Korea is featured. Also,the U.S. dollar index has backed off its daily highs and is trading slightlylower on the day, which is benefitting the precious metals market bulls. Augustgold was...Read More
The retail stock has averaged a loss the last seven times this has occurredRetail stocks have been on fire recently, thanks to a strong round of corporate earnings reports throughout the sector. One name of notable interest is high-end retailer Tiffany & Co. (NYSE:TIF), which gapped higher post-earnings. However, the equity is now flashing a signal that's had historically bearish implications, sug...Read More
LONDON (Reuters) - Britain’s Rolls-Royce (RR.L) said a costly compressor problem that had grounded Boeing planes had now been found in a different type of engine, compounding pressures on a group that is due to cut more than 4,000 jobs this week.Britain’s best known engineering company has been hit by a problem with a compressor in the Trent 1000 package C engine that is not lasting as...Read More
PARIS (Reuters) - In early April, thousands of French rail workers filled a square outside one of Paris’s largest stations at the start of a strike against President Emmanuel Macron’s reforms.Letting off smoke flares and blowing whistles, they chanted slogans against the president’s plans to shake up the heavily subsidized and indebted state-run SNCF rail company.More than two mo...Read More
BERLIN (Reuters) - Germany sees no immediate solution to the trade dispute between the United States and other major economies but remains open to talks “among friends”, Economy Minister Peter Altmaier said on Monday, seeking to head off a full-blown global trade war.U.S. President Donald Trump backed out of a joint communique agreed by Group of Seven leaders in Canada at the weekend t...Read More
When we look at the DXY, the US Dollar Index, cash bar chart, we can clearly see that the US dollar is building what appears to be a bearish chart.We have begun to see the gold/silver ratio decline from the 81-82 levels or higher, and it is beginning to confirm that the silver market is about ready to go.The CRB index is picking up, so it's only a question of time before we see demand once again i...Read More
ROME (Reuters) - Italy said on Monday that Spain’s offer to take in a migrant rescue ship drifting in the Mediterranean vindicated Rome’s decision to prevent it docking in Italian ports and showed the new government’s tough line on immigration was paying off.“Victory!” tweeted Matteo Salvini, deputy prime minister and leader of the far-right League, after the offer fr...Read More