WASHINGTON, Oct 20 (Reuters) - U.S. Deputy Attorney General Lisa Monaco has a message for corporate America: The U.S. Justice Department needs its help in order to take down cyber criminals."We cannot do this alone," Monaco said on Wednesday during a virtual roundtable on cybersecurity."The bottom line is this: I believe it is bad for companies. It's bad for America and it hurts our efforts to uph...Read More
(Reuters) -PayPal Holdings Inc has offered to buy digital pinboard site Pinterest Inc for $45 billion, people familiar with the matter said on Wednesday, a combination that could herald more tie-ups between financial technology and social media companies in e-ecommerce.The deal talks come as internet shoppers increasingly buy items they see on social media, often following "influencers" on platfor...Read More
WASHINGTON (Reuters) - The Boston Federal Reserve will not release documents that could show whether its former president vetted a series of personal investments last year with its ethics officer, a spokesman for the regional Fed bank said, a key point in an ongoing ethics controversy at the U.S. central bank.Eric Rosengren, along with Dallas Fed President Robert Kaplan, stepped down after details...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 said yesterdaythat the Pueblo Viejo gold mine in the Dominican Republic is continuing toadvance a plant expansion and tailings storage facility project designed toextend its life to 2040 a...Read More
HAVANA (Reuters) - Cuba has reached a deal with the Paris Club of creditor nations to postpone an annual debt payment due in November until next year, according to diplomats from five of the governments involved, the latest sign the Communist-run country is suffering a grave foreign exchange crisis.The historic 2015 Paris Club agreement with Havana forgave $8.5 billion of $11.1 billion in sovereig...Read More
(Reuters) - Federal Reserve Governor Randal Quarles, until recently the U.S. central bank's top financial regulator, on Wednesday said he does not understand the arguments in favor of issuing a central bank digital currency."Until somebody answers me the question why, I don't understand why we would devote the enormous amount of resources and the technological risk and the significant disruption t...Read More
(Adds background)TORONTO, Oct 20 (Reuters) - Chris Hohn's hedge fund firm TCI Fund Management rose over 17% in the first nine months of year, a source close to the firm told Reuters on Wednesday, as the activist investor benefited from its stake in Canadian National Railway Co.TCI, which owns a 5% stake in CN, has been agitating for change at Canada's biggest rail road operator since August after...Read More
WASHINGTON (Reuters) -U.S. President Joe Biden heads on Wednesday to his birthplace of Scranton, Pennsylvania as an agreement among Democrats on the scope of his social spending package appeared within reach.Biden will deliver remarks at the Electric City Trolley Museum in Scranton, Pennsylvania, an election swing state, and talk about how his infrastructure plan will benefit the working class in...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) - Santacruz Silver Mining(TSX.V:SCZ) announced today that the company produced 316,024 ounces of silverin Mexico in Q3 2021, an increase of 4% compared to Q3 2020 (304,123 ounces).In addition, the compan...Read More
By David Alire GarciaACAPULCO, Mexico Oct 20 (Reuters) - The chief executive ofMexico's top precious metals miner Fresnillo on Wednesdaydescribed the current government's policies as "unfavorable" forthe key industrial sector.Mexican President Andres Manuel Lopez Obrador's government has been criticized by the mining industry for its policy of nonew concessions, as well as what have been...Read More
MADRID (Reuters) -Axel Weber, the chairman of UBS, made it clear in September 2018 to his Santander counterpart, Ana Botin, that the bank would not stump up Andrea Orcel's deferred pay if he quit to join the Spanish rival, Weber told a court on Wednesday, showing the pivotal role he played in a high-stakes dispute.Orcel, who was UBS's top investment banker at the time, is suing Santander for compe...Read More
LONDON (Reuters) - The world faces "very prolonged" disruptions to shipping cargo flows, an executive at leading ports operator ICTSI said, as logistical headaches such as truck shortages weigh on backed-up supply chains and rebounding trade drives up volume.Major bottlenecks have formed across the globe in recent months due to a surge in demand for retail goods from people stuck at home under pan...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) - Tanzanian Gold (TSX:TNX)(NYSE:TRX) announced Wednesday the commencement of the commissioning phase ofthe new expanded processing plant at its Buckreef gold project in Tanzania by360 tonnes per day. Dur...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 announcedtoday that the value of rough diamond sales (Global Sightholder Sales andAuctions) for De Beers' eighth sales cycle of 2021 (period from 4 October to 19October) was $490 million...Read More
(Kitco News) - Difference: Negotiating As If YourLife Depended On It." He has previously worked as a hostage negotiator forthe FBI.Voss reveals to David Lin, anchorfor Kitco News, who he considers to be the best negotiator of all-time and whythese life lessons are essential to success in business, politics, and one'spersonal life. To find out Voss' pick for the mostsuccessful negoatiator in the w...Read More
FRANKFURT, Oct 20 (Reuters) - German crude oil import volumes fell 7.1% in the first eight months of 2021 year-on-year as the COVID-19 pandemic and related lockdowns hit industry, but the bill was up by a third due to higher prices, official data showed on Wednesday.Oil volumes in January through August fell to 51.9 million tonnes from 55.8 million in the same months of 2020, statistics from the B...Read More
Oct 20 (Reuters) - The S&P 500 and the Dow inched closer to record highs on Wednesday after strong forecasts from healthcare companies Anthem and Abbott, while the Nasdaq lagged as technology stocks took a breather.The Dow Jones Industrials Average (.DJI) was just short of all-time highs reached in mid-August, while the benchmark S&P 500 index (.SPX) traded 0.2% below its early September recor...Read More
(Reuters) -Payments giant PayPal Holdings Inc is in talks to buy digital pinboard site Pinterest Inc, according to a person directly familiar with the matter.The companies have discussed a potential price of $70 per share, which would value Pinterest at around $39 billion, according to Bloomberg News. The price would represent a 26% premium to Pinterest's closing price of $55.58 on Tuesday.PayPal...Read More
WASHINGTON (Reuters) - Europe should not see an inflation spiral as a spike in energy prices is expected to fade next year and there is slack in the continent's labor market, the IMF European department chief said on Wednesday."We don't at this stage, expect any inflation spiral in Europe," IMF European Department Director Alfred Kammer told a news briefing. "The high inflation which we are seeing...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) - Today, Rio Tinto unveiled anew target to reduce its Scope 1 & 2 carbon emissions by 50 per cent by2030, more than tripling its previous target. A 15 per cent reduction inemissions is now targeted for 2...Read More