OTTAWA, Oct 21 (Reuters) - Canada will not extend existing broad-based COVID-19 support programs for companies and individuals when they expire on Saturday because the economy is recovering well, Finance Minister Chrystia Freeland said on Thursday.Instead, Ottawa will introduce more targeted and less expensive measures to help particularly hard-hit sectors such as the tourism industry.These new pr...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) - Anglo American (AAL.L,AAM.SW) announced Thursday that its copper equivalent production is up 2% in Q32021 compared to Q3 2020, with the company's operating levels generallymaintained at approximately 9...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 aremodestly lower in midday U.S. trading Thursday, on normal corrective pullbacksafter recent gains. Both metals remain in near-term price uptrends on the dailybar charts. A fi...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) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have...Read More
WASHINGTON (Reuters) - Federal Reserve ethics officials in March 2020 cautioned Fed policymakers about personal securities trading as the central bank geared up for what became a massive and wide-ranging effort to battle the pandemic and keep the economy and asset markets from crashing, the New York Times reported on Wednesday.The Times said it had confirmed the substance of a March 23 email from...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) - Orca Gold (TSXV: ORG)announced today that the company and the Government of Sudan signed all the keydevelopment agreements to proceed with the formal construction of a largecommercial gold operation at...Read More
* Lagarde had set out to woo dissenters* Team spirit now broken: ING's Brzeski* Scene set for disagreement on inflationFRANKFURT, Oct 21 (Reuters) - Jens Weidmann's departure from the European Central Bank is the most tangible sign yet that ECB President Christine Lagarde's efforts to win over dissenting policymakers have hit a dead end and sets the scene for fresh frictions.The Bundesbank preside...Read More
Oct 21 (Reuters) - Blackstone Group Inc (BX.N), the world's biggest manager of alternative assets such as private equity and real estate, said on Thursday its distributable earnings more than doubled in the third quarter to an all-time high.Blackstone and other private equity firms have capitalized on low interest rates and the economic recovery from the COVID-19 pandemic to sell many of their as...Read More
LONDON (Reuters) - For all the angst caused by this year's 65% oil price leap, concerns about a return to 1970s-style stagflation are overblown and the developed world, at least, can probably handle even costlier crude without too much stress.Alternative energy sources, a rise in less energy-intense service sectors, plus more efficient vehicles, gadgets and power plants mean that oil demand has ev...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) - New Found Gold (TSXV: NFG,NYSE: NFGC) announced Thursday that it has arranged a non-brokered privateplacement with Mr. Eric Sprott of 5 million common shares of New Found, at aprice of C$9.60 per commo...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) - According to a recent reportby ALROSA, the diamond market has fully recovered from the pandemic, andstructural decline in production due to stock depletion, coupled with growingdemand from end-users, c...Read More
WASHINGTON, Oct 21(Reuters) - U.S. home sales surged to an eight-month high September, but higher prices as supply remains tight are squeezing out first-time buyers from the housing market.Existing home sales increased by 7.0% - the largest increase in a year - to a seasonally adjusted annual rate of 6.29 million units last month, the highest level since January, the National Association of Realto...Read More
Oct 21 (Reuters) - Tesla Inc (TSLA.O) wants to shift to a less expensive battery for its electric vehicles but first needs to figure out how to overcome political tensions to get a Chinese partner to build the iron-based batteries near its U.S. factories.The world's two biggest economies have yet to resolve disputes over tariffs, intellectual property rights and Chinese incursions into Taiwan's...Read More
Mr. Peter DembickireportsTIER ONE SILVER APPLIES FOR DRILL PERMIT FOR ADDITIONAL 200 DRILL HOLES AT CURIBAYA PROJECTTier One Silver Inc.has applied for an extension of its drill permit at the Curibaya project in southern Peru to include the Cambaya target, where the best channel sample results have been received to-date (see Oct. 14, 2021, news release). The target is located northeast of the prev...Read More
HONG KONG/SHANGHAI, Oct 21 (Reuters) - China Evergrande Group (3333.HK) has secured more time to pay a defaulted bond, financial provider REDD reported on Thursday, offering rare respite to the developer even as a debt crisis in the broader property sector deepened with more defaults.News of the three month-plus extension came a day after Evergrande scrapped a deal to sell a 50.1% stake, worth $...Read More
Oct 21 (Reuters) - For central bankers wrestling with the question of whether inflationary pressures are transitory, industry chiefs around the world have a clear message: prices are only going higher.Shortages of workers, fuel, cargo ships, semiconductors and building materials as the global economy bounces back after pandemic lockdowns have companies from electric car makers to chocolatiers scra...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 gold market remains caught in neutral finding littlemomentum in either direction even as the U.S. housing market continues toattract buyers.Existinghome sales rose to a seasonally adjusted and annua...Read More
Oct 21 (Reuters) - Facebook Inc's (FB.O) independent oversight board demanded more transparency from the social media giant on Thursday, saying the company was not "fully forthcoming" on how it deals with certain high-profile user accounts.The comments follow a Wall Street Journal report last month that said millions of Facebook accounts belonging to celebrities, politicians and other high-profi...Read More
MOSCOW, Oct 21 (Reuters) - Moscow will reintroduce COVID-19 lockdown measures from Oct. 28, Mayor Sergei Sobyanin said on Thursday, with supermarkets and pharmacies the only shops allowed to stay open in an effort to cut soaring infections and deaths.The decision came a day after President Vladimir Putin approved a nationwide week-long workplace shutdown from Oct. 30 to Nov. 7 and said regional le...Read More
Oct 21 (Reuters) - Canada's commodity-heavy main stock index retreated from a record high on Thursday, weighed by weakness in miners and energy stocks, while dismal corporate earnings from Rogers Communications further dented sentiment.At 9:31 a.m. ET (13:31 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 60.11 points, or 0.28%, at 21,128.08.Reporting by Amal S in Bengaluru; Ed...Read More