LONDON/BRUSSELS, Nov 5 (Reuters) - The European Union said on Friday that Britain had made no move to seek a compromise on post-Brexit trade with Northern Ireland and cautioned London against triggering emergency unilateral provisions in the Brexit deal.Prime Minister Boris Johnson's Brexit negotiator David Frost ruled out immediately triggering such provisions, a move that would sour ties with th...Read More
(Reuters) - Wall Street's main indexes were set for a record open on Friday, as data showing strong jobs growth in October, coupled with positive earnings and Pfizer's COVID-19 pill update, boosted sentiment about economic growth.The Labor Department's report showed U.S. employment increased more than expected last month as COVID-19 infections over the summer subsided, offering more evidence that...Read More
Nov 5 (Reuters) - A trial of Pfizer Inc's (PFE.N) experimental antiviral pill for COVID-19 was stopped early after the drug was shown to cut by 89% the chances of hospitalization or death for adults at risk of developing severe disease, the company said on Friday.The results appear to surpass those seen with Merck & Co Inc's (MRK.N) pill, molnupiravir, which was shown last month to halve t...Read More
(Updates prices, adds analyst comment)Nov 5 (Reuters) - Canada's main stock index scaled a record high on Friday, aided by strength in financial stocks and a slew of upbeat corporate earnings, putting the benchmark index on course for a weekly gain.At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 91.27 points, or 0.43%, at 21,433.4.Financials, which account...Read More
New York, Nov 5 (Reuters) - The dollar hit a more-than one-year high on Friday after data showed the United States created more jobs than expected in October, pushing the country closer to full employment, one of the Federal Reserve's conditions for raising interest rates.Nonfarm payrolls increased by 531,000 jobs last month as the surge in COVID-19 infections over the summer subsided, offering mo...Read More
Mr. Peter Grosskopf reports SPROTT ANNOUNCES THIRD QUARTER 2021 RESULTSSprott Inc. has released its financial results for the three and nine months ended Sept. 30, 2021. Management commentary "During the third quarter of 2021, Sprott demonstrated the strength of our strategy and continued to deliver strong financial results despite precious metals trading sideways for most of the period," said Pe...Read More
(Adds Tenreyro, last paragraph)LONDON, Nov 5 (Reuters) - The Bank of England's top monetary policy officials see "some need" to raise interest rates to fend off a jump in inflation even if most of them wanted to hold off from increasing borrowing costs this week, the BoE's new chief economist said."I think across the committee, there is a recognition that, at least on the basis of today's informat...Read More
Nov 5 (Reuters) - With strong demand and short supplies driving inflation more broadly through the economy, the clock may be ticking on how long the Federal Reserve can wait before raising interest rates in response, a U.S. central banker suggested on Friday."As supply chains heal and demand eases, there is reason to expect inflation will eventually moderate, but it is also clear that the risk of...Read More
AMSTERDAM, Nov 5 (Reuters) - Shares in Italian software maker MotorK slumped nearly 10% on Friday, the first day of trading after their initial public offering on Amsterdam Euronext,MotorK, whose software helps car dealerships manage their digital presence, as well as with sales and marketing, raised 75 million euros ($86 million) in the offering, selling a 36.4% stake in the company.The shares we...Read More
GLASGOW, Nov 5 (Reuters) - Cautious optimism has emerged that COP26 in Glasgow can clinch a global carbon market deal unlocking trillions of dollars of green investment, with even hold-out nation Brazil signalling a desire for compromise.With world leaders having left the UN climate summit after a flurry of speeches and announcements early this week, diplomats at COP26 are in the midst of two week...Read More
WASHINGTON (Reuters) - Democrats in the U.S. House of Representatives were poised on Friday to adopt the centerpiece of President Joe Biden's domestic agenda: a $1.75 trillion social policy and climate-change bill and a $1 trillion bipartisan infrastructure bill.The two pieces of legislation represent momentous action by Biden and Congress, including the biggest upgrade of America's roads, bridges...Read More
LONDON/BRUSSELS, Nov 5 (Reuters) - Britain will not trigger an emergency provision in its Brexit deal on Friday, its negotiator said on arriving for talks with the European Union's pointman aimed at overcoming disagreements over trade across the Irish border.The emergency measures, called Article 16, allows either side to take unilateral action if they deem their agreement governing post-Brexit tr...Read More
WASHINGTON, Nov 5 (Reuters) - U.S. employment increased more than expected in October as the headwind from the surge in COVID-19 infections over the summer subsided, offering more evidence that economic activity was regaining momentum early in the fourth quarter.Nonfarm payrolls increased by 531,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data...Read More
GLASGOW (Reuters) - For pioneering climate economist Nicholas Stern, the computer revolution of recent decades holds useful lessons about how the falling cost of green technology can be a game-changer, and why economists still struggle to measure and model its implications.To explain the economic stakes involved in ridding the global economy of carbon, the author of the landmark "Stern Review" dra...Read More
This week ends with the last big news announcement of the week,nonfarm jobs number. Whatever the initial reaction is, the action promises tobe wild. With gold, silver and platinum in an uptrend within aconsolidating market, today's job could be enough to break those markets out ofthis pattern. We are long and expect the breakout to come to the upside,continuing the bullish pattern.However, there a...Read More
(Reuters) - Helion Energy, a fusion energy tech startup, on Friday said it raised $500 million to build a net positive electrical generator, one that creates more power than it uses.The latest round values the company at $3 billion. Helion said $1.7 billion in follow on investments were committed if it can prove its technology works, which would be a major step toward making fusion technology a pr...Read More
Nov 5 (Reuters) - Clean energy company Helion said on Friday it had raised $500 million in a funding round led by entrepreneur and veteran investor Sam Altman. (Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber) 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...Read More
Nov 5 (Reuters) - Global bond funds drew massive inflows in the week to Nov. 3 as investors reassessed expectations around the future course for key policy rate hikes ahead of major central bank meetings.Investors purchased a net $13.79 billion in global bond funds, marking their largest net buying since the week to Sept. 1, Lipper data showed.The U.S. central bank on Wednesday announced the taper...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) - Gold and silver prices werelower and hit daily lows in the immediate aftermath of a U.S. jobs report thatwas a bit more upbeat than market expectations. However, prices have sincestabilized and are tr...Read More
LONDON, Nov 5(Reuters) - Sterling fell to five-week lows in early trading on Friday, extending its losses after the Bank of England surprised the market by leaving interest rates unchanged on Thursday.Seven of the nine members of the BoE's Monetary Policy Committee voted to keep the main interest rate at its all-time low of 0.1%, resulting in sterling's biggest daily fall in more than 18 months.Po...Read More