(Bloomberg) - Macquarie Group Ltd. has denied allegations that some of its brokers and wealth advisers manipulated stock prices or failed to act on client instructions regarding the collapse of Cleveland Mining Co. shares.Disgruntled investors and Cleveland Mining executives alleged at a parliamentary hearing in Melbourne on Thursday that some of Macquarie's wealth advisers ran a "pump and dump"...Read More
Mining Capital's Alastair Ford chats through latest developments at Rainbow Rare Earths (LON:RRE), Orosur Mining (LON:OMI) and Wishbone Gold (LON:WSBN).Ford also discusses recent reports that US tech giant Apple Inc (NASDAQ:AAPL) is in talks to buy long-term supplies of cobalt directly from miners for the first time.The US$870mln company is one of the biggest end-users of the metal, which is a key...Read More
(Updates throughout to U.S. market open, changes dateline; previous LONDON)* Dollar Index retreats after hitting 10-day high* Yen rises on safe haven demand By Saqib Iqbal AhmedNEW YORK, Feb 22 (Reuters) - The dollar slipped against a basket of major currencies on Thursday, as its rally from a three-year low last week ran out of steam, and the yen soared as heightened volatility led investors to...Read More
JOHANNESBURG, Feb 22 (Reuters) - Precious metals producer Sibanye-Stillwater cut off the dividend stream that has made it an investor darling after reporting an attributable loss for 2017 on Thursday.Sibanye's share price fell 13 percent, underscoring disappointment among investors who have grown accustomed to hefty dividends from the Gold Fields spin-off."It's the cash flow. There is no cash to p...Read More
JOHANNESBURG, Feb 22 (Reuters) - Precious metals producer Sibanye-Stillwater cut off the dividend stream that has made it an investor darling after reporting an attributable loss for 2017 on Thursday.Sibanye's share price fell 13 percent, underscoring disappointment among investors who have grown accustomed to hefty dividends from the Gold Fields spin-off."It's the cash flow. There is no cash to p...Read More
WASHINGTON, Feb 22 (Reuters) - For details of the U.S. Treasury's auctions of 13-week, 26-week and 52-week bills next week, see:13-week bills 26-week bills 52-week bills (Washington economics newsroom) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; h...Read More
LONDON, Feb 22 (Reuters) - Australia's Walkabout Resources has entered a joint venture with Koza Ltd, a British subsidiary of Turkish miner Koza Altin , to explore for gold and other metals at Slieve Gallion in Northern Ireland.Koza Altin's founder Akin Ipek set up Koza Ltd and fled Turkey after relations between the government and followers of U.S.-based Islamic cleric Fethullah Gulen soured. Muc...Read More
LONDON, Feb 22 (Reuters) - Kazakhstan-focused Kaz Minerals on Thursday reported a jump in 2017 sales and production as its main mines ramped up and said it expected its 2018 output to rise as much as 16 percent.The London-listed miner, which mainly mines copper and gold, said 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) excluding special items rose to $503 million f...Read More
LONDON, Feb 22 (Reuters) - Kazakhstan-focused Kaz Minerals on Thursday reported a jump in 2017 sales and production as its main mines ramped up and said it expected its 2018 output to rise as much as 16 percent.The London-listed miner, which mainly mines copper and gold, said 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) excluding special items rose to $503 million f...Read More
(Repeats to attach to corrected alerts, no change to content)MEXICO CITY, Feb 22 (Reuters) - Most of Mexico's central bank board are concerned that recent shocks to consumer prices could slow a projected drop in annual inflation back to policymakers' 3 percent target, minutes from the last decision showed on Thursday.Banco de Mexico's governing board unanimously voted to hike the key rate by 25 b...Read More
LONDON, Feb 22 (Reuters) - Kazakhstan-focused Kaz Minerals on Thursday reported a jump in 2017 sales and production as its main mines ramped up and said it expected its 2018 output to rise as much as 16 percent.The London-listed miner, which mainly mines copper and gold, said 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) excluding special items rose to $503 million f...Read More
MILAN, Feb 22 (Reuters) - Intesa Sanpaolo is planning to refinance in full 11 billion euros ($14 billion) in wholesale bonds coming to maturity in 2018, the chief financial officer of Italy's biggest retail bank said on Thursday.Stefano Del Punta told Reuters in a phone interview the bank did not have large refinancing needs this year, as it was still relying on cheap funding provided by the Europ...Read More
LONDON, Feb 22 (Reuters) - Record high stocks of copper in land-locked Arizona and Utah are a reflection of soaring transport costs in the United States and weak demand for the industrial metal produced in the Americas, copper industry sources say.Trading sources added that stocks in these two locations are likely to keep rising until prices are high enough to offset costs of transporting the copp...Read More
* Proposed changes likely to mollify U.S. banks* The new rules could affect UK banks after Brexit* Amendments would remove some banks from scope of rules By Huw Jones and Francesco GuarascioLONDON/BRUSSELS, Feb 22 (Reuters) - The European Union has been urged by its presidency to ease proposed new regulations on foreign banks within the block to bring them in line with U.S. requirements, EU docum...Read More
Feb 22 (Reuters) - Canada's main stock index was little changed on Thursday as investors took in a raft of corporate earnings and as resource-related shares benefited from a rise in commodity prices.* At 10:15 a.m. ET (15:15 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 20.68 points, or 0.13 percent, at 15,544.69.* Magna International Inc provided one of the biggest boosts...Read More
(Recasts lead, adds background)NEW YORK, Feb 22 (Reuters) - The amount of U.S. commercial paper outstanding recorded its steepest one-week decline in seven months this week, suggesting a further drop in short-term corporate borrowing activity, Federal Reserve data showed on Thursday.Companies sell these short-term debt to money market mutual funds and other investors to raise cash to finance their...Read More
Alan Rommel, chief executive of Parity Group Plc (LON:PTY), tells Proactive their aim is to become a leading provider of digital services to their clients through two complimentary businesses.''The first of those is a consultancy business which focuses on larger deliverables ... higher margins, higher value, longer-term contracts ... increasingly focused on the data markets and data analytics''.''...Read More
(Adds detail)MOSCOW, Feb 22 (Reuters) - Novatek is interested in Saudi Aramco joining the Arctic LNG-2 plant as a partner, the Russian gas producer's head Leonid Mikhelson said on Thursday, highlighting growing ties between Russia and Saudi Arabia. Both countries have been instrumental in implementing a global pact on cutting oil production by almost 1.8 million barrels per day.Novatek and its pa...Read More
OceanaGoldCorp. (TSX, ASX: OGC) reports a record net profit for both the fourth quarterand full-year 2017, helped by record revenues. The full-year profit was $172million, or 28 cents a share, up from $136 million, or 22 cents, in 2016. Theincrease was 26% despite a non-cash impairment of $18 million taken in thesecond quarter, OceanaGold says. Record annual revenue was $724 million, 15%higher tha...Read More
Clovis Oncology Inc (NASDAQ:CLVS) stock is up 7.4% to trade at $59 this morning, after the company received a positive trend vote from a European Union (EU) committee for its ovarian cancer drug marketing application. In response, RBC upgraded CLVS stock to "outperform" from "sector perform," while cutting its price target to $72 from $80. The analyst in coverage is calling for a positive outcome...Read More