BRASILIA, Nov 4 (Reuters) - Brazil is set to hold its largest-ever cellular auction on Thursday, with local units of America Movil, Telefonica and Telecom Italia vying with a dozen other firms for broadcast spectrum dedicated to fifth-generation (5G) wireless technology.Telecoms regulator Anatel, which will start unsealing bids at 10 a.m. local time (1300 GMT), expects to get commitments from the...Read More
WASHINGTON, Nov 4 (Reuters) - U.S. unit labor costs surged in the third quarter, while productivity declined at its sharpest pace since 1981, adding to signs that high inflation could last for a while.The Labor Department said on Thursday that unit labor costs, the price of labor per single unit of output, increased at an 8.3% annualized rate last quarter after rising at a 1.1% pace in the April-J...Read More
(Updates after flows to Germany resume)LONDON, Nov 4 (Reuters) - Gas flows from Russia to Germany via the Yamal pipeline started up again on Thursday afternoon, data from the pipeline's German operator showed, sending European gas prices lower.Russian gas has not flowed to Germany via the pipeline since Saturday. Instead, supplies were being sent from Germany to Poland in a reversal that has sent...Read More
WASHINGTON (Reuters) - The U.S. trade deficit jumped to a record high in September as exports slumped, government data showed on Thursday.The Commerce Department said that the trade gap surged 11.2% to a record $80.9 billion. Economists polled by Reuters had forecast an $80.5 billion deficit.Exports tumbled 3.0% to $207.6 billion in September. Goods exports plunged 4.7% to $142.7 billion. The decl...Read More
LONDON, Nov 4 (Reuters) - A great central bank exit from the extraordinary stimulus unleashed to keep economies afloat during the COVID-19 pandemic is underway, with the United States and Australia this week moving away from hefty policy support.But policymakers have also pushed back against investor expectations for a slew of interest rate rises, as they wait to see whether inflation remains stic...Read More
TOKYO, Nov 4 (Reuters) - Nintendo Co Ltd (7974.T) on Thursday cut its full year Switch sales forecast by 6% and said it is struggling to meet demand in the key year-end shopping season as chip shortages disrupt production of the hit device.While many companies have warned of the risks posed by the global semiconductor shortage, most have stopped short of cutting targets. Toyota Motor Corp (7203...Read More
Mr. Marcel Robillard reportsPUMA EXPLORATION DISCOVERS NEW VISIBLE GOLD-BEARING ZONE AT WILLIAMS BROOK GOLD PROPERTY Puma Exploration Inc.'s continuing surface trenching and stripping programs have uncovered a new 100-metre-long high-density quartz veining zone with visible gold (VG) at its Williams Brook gold project located in New Brunswick, an emerging new gold district of Atlantic, Canada. A l...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) - First Majestic Silver Corp's plan to stockpile its silverdidn't pan out as expected after the company reported a 1% drop in revenues inthe third quarter.Thursday, ahead of the North American equity ope...Read More
Wednesday was FED Day or themeeting of the three blind mice. Either way, they once again showed howclueless they are. The FED has changed their transitory call on inflation to:it will be transitory. Inflation is not transitory, and it is hotter than theywill admitBefore Wednesday's FED Decision,gold, silver and platinum were getting clobbered before a late-day rally cutlosses in gold and platinum....Read More
Nov 4 (Reuters) - Alphabet Inc's (GOOGL.O) Google has invested $1 billion in CME Group (CME.O) and has struck a separate deal to move the exchange operator's trading systems to the cloud, the companies said on Thursday.Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kit...Read More
Nov 4 (Reuters) - Tesla Inc (TSLA.O) and Hertz Global Holdings Inc (HTZZ.PK) are working out how quickly the rental car company can receive deliveries from its large order of Tesla's electric cars, the Wall Street Journal reported on Thursday, citing people familiar with the matter.Tesla and Hertz did not immediately respond to Reuters' requests for comment.Last week, Hertz said it placed an...Read More
Nov 4 (Reuters) - Metro Bank (MTRO.L) said it has received a takeover approach from U.S. private equity firm Carlyle (CG.O), sending its battered shares by as much as 31% higher, in a sign of growing interest in Britain's mid-sized banks.Metro Bank, which had a market capitalisation of 178 million pounds ($242 million) at Wednesday's closing price, said it was engaging with Carlyle.But it added...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) - Barrick Gold reiterated its outlook that it will hit thetop-end of its 2021 guidance forecast as the company reported solid earningsfor the third quarter.Thursday, ahead of the North American equity op...Read More
Mr. Roger Moss reportsLABRADOR GOLD INTERSECTS 76.24 G/T GOLD OVER 0.5 METRES, DEFINES NEW FOOTWALL ZONE AT KINGSWAY PROJECT Labrador Gold Corp. has released further high-grade intercepts of near-surface gold mineralization along the Appleton fault zone at its 100-per-cent-controlled Kingsway project near Gander, Nfld. These holes were drilled as part of the company's continuing 50,000-metre drill...Read More
LONDON, Nov 4 (Reuters) - The Bank of England kept interest rates on hold on Thursday, dashing investors' expectations for a hike that would have made it the first of the world's big central banks to raise rates after the COVID-19 pandemic.The BoE kept alive the prospect of tighter monetary policy soon, saying it would probably have to raise Bank Rate from its all-time low of 0.1% "over coming mon...Read More
Nov 4 (Reuters) - Cigna Corp (CI.N) reported better-than-expected third-quarter profit on Thursday and modestly raised its full-year adjusted profit forecast, on the back of growth in its health services unit that includes the pharmacy benefits management business.Cigna's health services unit, rebranded to Evernorth last September, has been driving growth amid volatile medical costs at its healt...Read More
(Adds quote, PMI readings, updates prices)LONDON, Nov 4 (Reuters) - Long-dated euro zone bond yields edged higher on Thursday with the market predicting that the Bank of England will be the first major central bank to hike rates since the onset of the COVID-19 crisis when it meets later in the day.Following the U.S. Federal Reserve&'s announcement overnight that it would taper its bond purchases,...Read More
BENGALURU/LONDON (Reuters) - Euro zone business growth slipped to a six-month low in October as supply chain bottlenecks and logistical issues related to the COVID-19 pandemic pushed input prices to rise at the fastest rate in over two decades, a survey showed.Government restrictions are being lifted in the currency bloc but shortages of raw materials in the manufacturing sector are impacting grow...Read More
SHENZHEN, China/HONG KONG (Reuters) -Chinese property developer Kaisa Group Holdings Ltd said on Thursday its finance unit had missed a payment on a wealth management product (WMP), adding to worries about a cash crunch at the debt-strapped company.Kaisa's troubles come amid concerns about a deepening liquidity crisis in the Chinese property sector, with a string of offshore debt defaults, credit...Read More
(Reuters) - Electric scooter rental company Bird Rides plans to use most of the cash raised from merging with a special purpose acquisition company (SPAC) to expand to new cities and grow its business in existing markets, the company's top executive said.Bird is poised to merge with Switchback II Corp and start trading on the New York Stock Exchange on Thursday or Friday under the ticker symbol "B...Read More