(Kitco News) The U.S. economy slowed sharply in the third quarter, the U.S. Bureau of Economic Analysis reported on Thursday. The advance estimate showed that the U.S. Q3 GDP rose 2% versus the market's expectations of a 2.7% increase. In the second quarter, the U.S. GDP came in at 6.7%."The increase in real GDP in the third quarter reflected increases in private inventory investment, personal con...Read More
LONDON (Reuters) -Higher inflation and rising taxation to fund growing demand for healthcare and other public services will cause living standards in Britain to barely rise over the coming year, the Institute for Fiscal Studies think tank said on Thursday.The IFS - whose views on economic policy are closely watched in Britain - said Wednesday's budget statement here from finance minister Rishi S...Read More
BEIJING, Oct 28 (Reuters) - Banks should maintain the stable and orderly issuance of property loans, the Beijing office of China's central bank said on Thursday, adding that lenders should have an accurate understanding of the financing policy to the property sector.The People's Bank of Beijing branch made the above comments after the conclusion of a meeting focused on credit supply in the Chinese...Read More
LONDON (Reuters) -The Bank of England said on Thursday it will crack down on banks and insurers that fail to hold enough capital to cover risks from climate-change from next year, as it studies whether bespoke safety buffers are needed.Climate-related financial risks are partially captured by current frameworks, but there are gaps, the BoE said in a report on adaption to climate change that marks...Read More
SINGAPORE/SYDNEY (Reuters) - Fashion brands and airlines are creeping back into investors' good graces in Asia as lockdowns ease and vaccination rises, boosting travel and leisure activities, taking some shine off pandemic stalwarts such as supermarkets and gadget makers.Earnings report cards show that people are spending less time watching TV or shopping online for groceries as they resume dining...Read More
(Adds detail, analyst comment)MOSCOW, Oct 28 (Reuters) - Russia's largest lender Sberbank on Thursday reported a record net profit of 348.3 billion roubles ($4.9 billion) for the third quarter but raised provisions as it classified assets of its subsidiary in Ukraine as restricted.Sberbank has been reporting robust quarterly results this year thanks to a growing client base and as the Russian econ...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) - Bitcoin-U.S. dollar are higherin early U.S. trading Thursday. Bulls are working to keep alive the priceuptrend in place on the daily bar chart. The Bitcoin bulls still have the overallnear-term technic...Read More
(Updates with cenbank, govt reaction statement)MUMBAI, Oct 28 (Reuters) - Rating agency Moody's downgraded Sri Lanka's debt rating to "Caa2' from "Caa1' on Thursday saying the country had failed to come up with a comprehensive debt repayment plan and low foreign exchange reserves posed the risk of defaults.The Sri Lankan central bank, in response, said the government was committed to meeting its d...Read More
-Caterpillar Inc reported a quarterly profit on Thursday that beat analysts' estimates as construction demand and higher commodity prices boosted sales of heavy equipment across the company's businesses.The industrial bellwether's shares, which have risen 7.8% this year, were up 3.5% at $202 in premarket trading.Caterpillar's sales have surged for three consecutive quarters as construction demand...Read More
Oct 28 (Reuters) - Asset management firm T Rowe Price on Thursday agreed to buy fund manager Oak Hill Advisors in a $4.2 billion deal as it looks to expand its footprint in the alternative investments market.The cash-and-stock deal could trigger more M&A activity in the asset management space, with potential tie-ups between other mutual fund managers and private equity firms.As of July-end, Ne...Read More
EMERYVILLE, Calif., Oct. 28, 2021 /PRNewswire/ -- Amyris, Inc., (Nasdaq: AMRS), a leading synthetic biotechnology company active in the Clean Health, Beauty and Wellness markets through its consumer brands and a top supplier of sustainable and natural ingredients, today announced that it will issue its financial results for the third quarter ended September 30, 2021 after the close of the financi...Read More
A look at the day ahead from Tommy Wilkes.The European Central Bank meets later on Thursday and all eyes will be on its comments about the outlook for inflation.Will it or won't it become the latest central bank to warn that price pressures are more severe -- and less transitory -- than they appeared a few months ago?The difficulty for the ECB is that it wants to maintain its ultra-dovish stance t...Read More
TOKYO, Oct 28 (Reuters) - A global parts and chip shortage is taking a heavy toll on Japanese firms with seven out of eight automakers seeing global output drop in September, casting doubt over the central bank's view the impact of supply constraints will be temporary.Toyota Motor (7203.T) said on Thursday it saw global output slump 39.1% in September from a year earlier to 512,765 units, markin...Read More
BERLIN, Oct 28 (Reuters) - German consumers face higher prices for goods across the board as more and more companies in Europe's largest economy decide to pass on increased production costs, driven by widespread supply shortages and a spike in energy prices.While the development is helping firms to improve corporate margins after the coronavirus shock, consumers are feeling the pinch of higher pri...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) - The European Central Bank have kept rates and asset purchase unchanged. This was widely expected but questions remained about if the statement would include any details on rising inflation an...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) - China's gold consumption in the first nine months of 2021 rose amassive 48.4% on the year to 813.59 tonnes, according to the China GoldAssociation. This came as demand recovered from a pandemic-affecte...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) - Newmont Corporation (NYSE:NEM, TSX:NGT) today announced third quarter 2021 results. The company produced 1.45 million attributable ounces of gold and 315 thousand attributable gold equivalent ounc...Read More
SAO PAULO, Oct 28 (Reuters) - Brazilian miner Vale SA will resume operations at its Onca Puma nickel mine,it said on Thursday, after obtaining a federal court orderlifting an injunction that had suspended an operating licence.Operations at Onca Puma were first halted in early Octoberbecause of alleged non-compliance with local regulations.A judge granted Vale an injunction on Oct. 7 allowing it to...Read More
Mr. Tyler Hill reportsI-80 GOLD INTERSECTS HIGH-GRADE GOLD IN UNDERGROUND DRILLING AT GRANITE CREEKi-80 Gold Corp. has released positive initial assay results from the continuing underground drill program at the company's Granite Creek propertylocated in Humboldt county, Nevada. High-grade results from drilling from the 4740 level targeting mineralization in the Otto and Adam Peak fault horizons p...Read More
Oct 28 (Reuters) - Jiangxi Copper Co,one of China's biggest copper producers, saw profits fall 33% inJuly-September from the previous quarter as prices for the metaldipped after a stellar rally. Copper prices surged to a record high this year as demandfor the metal widely used in power and construction reboundedamid a supply crunch after coronavirus curbs were lifted, butprices pared back some of...Read More