BALTIMORE, Oct 21 (Reuters) - U.S. President Joe Biden on Thursday backed away from pledged tax increases to fund planned infrastructure and social spending, and also said he was open to reforming Senate voting rights by "fundamentally altering" its filibuster custom.In a wide-ranging CNN town hall in Baltimore, Biden said he was close to striking a deal to pass major spending measures after week...Read More
LONDON (Reuters) - Global shares got a tech boost to help tee up a third straight week of gains on Friday, despite growing inflation concerns, while the dollar dipped and oil prices bounced off their lows.MSCI's broadest gauge of global shares was up 0.1%, 1.4% higher on the week and just 0.8% off its all-time high. Europe's top markets all rose, with the biggest, Britain's FTSE 100, up 0.5%.Europ...Read More
(Reuters) - Shares of Snap Inc plunged on Friday, dragging down other ad-dependent tech firms, after the photo messaging app owner warned of a prolonged hit from Apple Inc's privacy changes on iOS devices.Snap shares were down nearly 20% at $60.8 before the bell, on track to open at a near three-month low. Shares of Facebook, Google parent Alphabet Inc and Twitter were down between 2% and 4%.Apple...Read More
TAIPEI, Oct 22 (Reuters) - Taiwan's central bank said on Friday it is watching inflation and there is no cause for alarm, but added it will adopt "appropriate" monetary policies if needed.In a Facebook post, the central bank said that major institutions predict Taiwan's consumer price index, or CPI, will not exceed 2% for all of this year, and will decline next year."There should be no worry about...Read More
BRUSSELS (Reuters) -Two new interest rate benchmarks will replace the Swiss Libor rate and the Euro Overnight Index Average (EONIA) in contracts and financial instruments from next year, the European Commission said on Friday.They will be replaced by new "risk free" rates, which are compiled by central banks.Both the Swiss Libor and EONIA, which form the basis for a range of financial contracts su...Read More
(Reuters) - China Evergrande Group has rapidly become Beijing's biggest corporate headache as it wrestles with debts of more than $300 billion and the fate reut.rs/3jrfpZG of the country's second-biggest property developer is keeping global markets on tenterhooks.A string of Beijing officials have tried to reassure investors the crisis will not spiral out of control and that creditors' interests...Read More
(Recasts, adds comment and updates prices)* Gold up 1.3% so far this week* Gold could test $1,800/oz level again- analyst* Gold trade lacklustre despite robust U.S. inflation data - CitiOct 22 (Reuters) - Gold gained for a fourth consecutive session on Friday, propped up by a subdued dollar, while inflationary pressures boosted demand for the precious metal as a safe-haven investment.Spot gold ros...Read More
LONDON (Reuters) - A key market gauge of euro zone inflation expectations rose on Friday to 2%, the ECB's inflation target, for the first time in seven years, putting pressure on the central bank as it weighs how to proceed with stimulus when its pandemic-era support ends.The five-year, five-year forward inflation swap, a key market gauge of long-term euro zone inflation expectations, jumped four...Read More
Oct 22 (Reuters) - The week to come will give European Central Bank policy makers another chance to ponder just how sticky inflation really is, while U.S. earnings will be dominated by FAANG companies.In China, an imminent default of China Evergrande Group (3333.HK) might be off the cards for now, but troubles seem far from over.Markets in Britain are bracing for new budget forecasts, while bitc...Read More
LONDON (Reuters) -Britain's economy unexpectedly regained momentum in October, despite surging costs and mixed consumer signals, according to surveys on Friday that could tempt the Bank of England to raise interest rates for the first time since the pandemic.The preliminary "flash" IHS Markit/CIPS Composite Purchasing Managers' Index rose by the largest amount since May to hit 56.8, up from 54.9 i...Read More
FRANKFURT, Oct 22 (Reuters) - Only 10 major European banks may need to raise capital as a result of the rollout of new global rules and their shortfall could be smaller than 27 billion euros ($31.43 billion), according to draft European Union regulation seen by Reuters.The impact would be much smaller than the 52.2 billion euros estimated by the European Banking Authority (EBA) last year, a sigh o...Read More
WASHINGTON, Oct 22 (Reuters) - The new Democratic leadership of the U.S. securities watchdog has a message for Corporate America's highly paid executives: if your company screws up, your pay is at risk.Clawing back compensation is shaping up to be a key part of the U.S. Securities and Exchange Commission's (SEC) agenda as it cracks down on corporate misconduct, raising the stakes for thousands of...Read More
Oct 22 (Reuters) - Nasdaq futures edged lower on Friday after chipmaker Intel warned of lower profit margins, while Snap Inc led declines among social media firms after flagging a hit to digital advertising from privacy changes by Apple.Intel Corp (INTC.O) slid 10.3% in premarket trading as it missed third-quarter sales expectations, while its Chief Executive pointed to shortage of other chips h...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 pricesarehigher in early U.S. trading Friday, supported by increasing worries aboutproblematic price inflation and by a lower U.S. dollar index to end the tradingweek. Friendly charts...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. dollarare higherin early U.S. trading Friday, following a normal downside correction onThursday. Prices earlier this week hit a record high. The Bitcoin bulls still havethe solid overall n...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) - Global manufacturing PMI's this morning and overnight have beenoverwhelmingly positive. As the world moved out of the COVID-19 pandemic itseems that the manufacturing sector is recovering. This does le...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) - In the Word Banks' latest report, they have noted that its Precious Metals Index fell by 3 percent in the thirdquarter of 2021. It noted that this is due to declining investor sentimentstemming from hi...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) - Heading into the European open gold (0.40%) and silver (0.38%) are both trading higher. The yellow metal is at $1789.88/oz still below the 200 day moving average and psychological $1800/oz level. Elsew...Read More
I LOVE PROSPERITY, Released on 10/22/21Bill Holter joins us to talk about the IRS proposal to track $600 transactions, the latest moves in the silver and gold market, plus much more.Bill Holter is currently a writer for Miles Franklin and Jim Sinclair's Mineset where he posts weekly commentaries on gold and financial markets. Prior to joining Miles Franklin in 2012, Bill Holter Worked as a retail...Read More
Kinesis Money, Released on 10/22/21To celebrate 50 episodes of demystifying the precious metals markets, Andrew Maguire takes the LFV audience for a sneak peek at the 20 tonnes of .9999 silver sitting in Kinesis' new Liechtenstein vault.In more silver news, the life-long wholesaler shares word of new, unprecedented demand entering the physical silver market, with the impact on the paper-driven pri...Read More