(Adds details, background)By Fumbuka Ng'wanakilalaDODOMA, Tanzania, June 8 (Reuters) - Tanzania said on Thursday it plans to increase spending in its budget for the fiscal year ending June 2018 by 7.3 percent to 31.71 trillion shillings ($14.21 billion), with a focus on infrastructure, curbing tax evasion and industrialising the economy.Tanzania has ramped up spending in recent years to build a s...Read More
(corrects Groupe Bertrand's spelling in headline)June 8 (Reuters) - Groupe Flo SA * French commercial caterer Groupe Flo says shareholders will meet on Friday to approve a 72.5 mln-euro capital increase at a price of 0.10 per share, under the terms agreed upon with Groupe Bertrand* Under the plan announced on April 26, Groupe Bertrand, owner of Burger King in France, is set to take control of Gro...Read More
TORONTO, June 8 (Reuters) - Below are some key quotes from an appearance on Thursday by Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins in Ottawa, after the release of the semi-annualFinancial System Review. POLOZ ON RISK OF HOUSING CORRECTION"We're only looking at what I call extreme events. So we're looking at something that is a little bit more probable than som...Read More
* New loan includes previously borrowed 80 mln euros* Due to "roll-up" arrangement Agrokor must repay 1.06 bln* Crisis manager says focus now on restructuring (Adds quotes, details)By Igor IlicZAGREB, June 8 (Reuters) - Indebted Croatian food group Agrokor has secured a 480 million euro ($538 million) loan, a government-appointed restructuring expert said on Thursday, giving a boost to his efforts...Read More
Italy's Treasury said on Thursday it would offer up to 5.5 billion euros over two bonds at auction on June 13.BOND TYPE BTP 3-yr BTP 7-yr MATURITYJune 15, May 15, 2024 2020TRANCHE 5th 7thCOUPON0.35 pct 1.85 pctAMOUNT OFFERED (bln2-2.5 2.5-3euros)SETTLEMENT DATE June 15(Reporting by Milan Newsroom)Keywords: ITALY BONDS/AUCTION ANNOUNCEMENT Disclaimer: The views expressed in this article are those...Read More
(Clarifies reference to Lundin in paragraph 11)* Chairman of Chelsea soccer club among nominated directors* Hambro says proposals against interests of most investors* Company returned to profit in 2016 By Barbara LewisLONDON, June 8 (Reuters) - Peter Hambro, who has headed Russian-focused gold miner Petropavlovsk for decades, is seeking to fend off a shareholder revolt led by Russian billionaire...Read More
James Comey said on Thursday he was disturbed by President Donald Trump's bid to get him to drop a probe into the former national security adviser, but the former FBI director would not say whether he thought the president sought to obstruct justice.Comey told U.S. lawmakers in the most eagerly anticipated U.S. congressional hearing in years that the Trump administration had told lies and defamed...Read More
U.S. House of Representatives Speaker Paul Ryan on Thursday, asked about President Donald Trump's interactions with former FBI Director James Comey, said Trump "was new at this" and probably not "steeped" in FBI independence from the White House."He's new in government, and so therefore I think he's learning as he goes," Ryan told reporters at a news conference. "I'm not saying it's an acceptable...Read More
* Comey says no doubt Russia interfered in the election* ECB leaves rates unchanged but closes door to further cuts* Nordstrom rises on going-private option* Indexes up: Dow 0.10 pct, S&P 0.01 pct, Nasdaq 0.15 pct (Adds details, updates prices)By Tanya AgrawalJune 8 (Reuters) - U.S. stocks edged higher in choppy early afternoon trading on Thursday as investors assess former FBI Director James Come...Read More
(Adds details, background)By Fumbuka Ng'wanakilalaDODOMA, Tanzania, June 8 (Reuters) - Tanzania plans to introduce a 1 percent clearing fee on the value of mineral exports in 2017/18 (July-June), its finance minister said on Thursday, part of government measures aimed at getting a bigger share of revenues from the east African country's natural resources."The government will not allow the direct...Read More
By Hilary RussNEW YORK, June 8 (Reuters) - The U.S. municipal bond market shrank slightly to $3.8233 trillion in the first quarter of 2017 from a revised $3.8374 trillion in the fourth quarter of 2016, according to a quarterly report from the Federal Reserve released on Thursday.For the first time in five years, foreign buyers shed muni bonds, knocking their total holdings off a record high of $94...Read More
By Anna IrreraNEW YORK, June 8 (Reuters) - U.S. exchange group Nasdaq Inc has joined a 7 million-euro ($7.9 million) investment round in Stratumn, which helps companies develop applications using blockchain technology, the Paris-based startup said on Thursday. The investment was led by Open CNP, the corporate venture arm of French insurer CNP Assurance SA , with participation from the Digital Curr...Read More
SAO PAULO, June 8 (Reuters) - Loan disbursements at Banco do Brasil SA remain unfazed despite heightening political and economic turmoil in recent weeks, an indication that Brazil's No. 2 lender will keep originating new credit in coming months, Chief Executive Officer Paulo Rogerio Caffarelli said on Thursday.Caffarelli, who spoke at the sidelines of a banking industry event in S??o Paulo, said B...Read More
(Updates with latest prices throughout)JOHANNESBURG, June 8 (Reuters) - South Africa's rand weakened against the dollar on Thursday as manufacturing and mining data added to a gloomy economic outlook and global events weighed on emerging markets, while stocks fell to a three-month low as gold and platinum mining shares slumped.At 1507 GMT, the rand traded at 12.9050 per dollar, 0.64 percent weake...Read More
PORT LOUIS, June 8 (Reuters) - Mauritius expects its fiscal deficit to narrow in 2017/18 (July-June), while the economy is predicted to grow 4.1 percent in the same period, up from 3.9 percent this year, the finance minister said in his budget speech on Thursday.The Indian Ocean island, which markets itself as a link between Africa and Asia, is striving to move from an economy mostly focused on su...Read More
Editor's Note: Kitco News & Kitco Insider collaborated with Northern Miner to offer you exclusive access the Canadian Mining Symposium. The one-day event included panels and discussions from some of the biggest names in mining. You can catch coverage of talks by Robert Friedland, Lukas Lundin, Rob McEwen, David Garofalo & Kelvin Dushnisky here. (Kitco News) -- Ever wonder what it would be like t...Read More
By Claire RuckinLONDON, June 8 (Reuters) - Private equity firms are increasingly shunning banks to pre-place second-lien loans directly with cash-rich funds, which is reducing banks' returns as they lose out on the most profitable part of an underwriting fee. Four buyouts, backed with loans yet to be syndicated in Europe's leveraged loan market, are expected to include pre-placed second-lien loans...Read More
Thursdaycould be a big day for markets, especially gold. Starting out this morningmarkets will hear from Mario Draghi and the ECB. Will the ECB keep the nuclearoption or drop a news bomb on markets? Comey testifies on the hill, his openingstatement on Wednesday caused a quick selloff and a quicker recovery. TheElection and Theresa May has turned from prohibitive favorite to a TV Thriller All that...Read More
Stocks moved back into the green on Thursday as former FBI director James Comey delivered public testimony before the Senate Intelligence Committee. The S&P 500 was flat, the Dow Jones Industrial Average added 0.1%, and the Nasdaq rose 0.12%. The Nasdaq hit an intraday high in early trading Thursday. Trading volume on the S&P 500 sat at 671 million shares having traded hands as of late...Read More
(Kitco News) - Gold prices are still trading with solid losseson the day, in late-morning action Thursday. However, the market has beenlifted off its daily lows by the perception of the marketplace that whileformer FBI director James Comey has not directly implicated President Trump inillegal obstruction during his testimony to the Senate, Comey certainly has notput Trump in a positive light. Augu...Read More