Oct 19 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday reported lower-than- expected quarterly revenue after sales of its COVID-19 vaccine missed Wall Street estimates following a string of production setbacks.The New Brunswick, New Jersey-based company maintained its 2021 sales goal of $2.5 billion from the vaccine, and said it recorded $766 million in sales of the shot in the first nine month...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) - Centamin (TSX: CEE) reportedtoday that its Q3 2021 gold production in Egypt of 103,546 ounces was 19% lowerthan in Q3 2020 but slightly ahead of 2021 schedule. The company also reportedthat revenue gen...Read More
Precious metal miner Hochschild Mining (LSE: HOC) is demerging to create a stand-alone business focused on rare earths, Aclara Resources. Aclara is a development-stage rare earth mineral resources company with a land package of mineral concessions in Chile, according to a press release from Hochschild. It's Penco Module covers a surface area of approximately 600 hectares and contains ionic clays t...Read More
NEW YORK/LONDON, Oct 19 (Reuters) - The first U.S. bitcoin futures-based exchange-traded fund began trading on Tuesday, sending bitcoin to a six-month high and within striking distance of its all-time peak, as traders bet theETF could boost investment flows into cryptocurrencies.The ProShares Bitcoin Strategy ETF began trading on Intercontinental Exchange Inc's (ICE.N) NYSE Arca on Tuesday under...Read More
BEAUMONT, Texas, Oct 19 (Reuters) - The U.S. National Labor Relations Board is expected to schedule a mid-November vote on removing the United Steelworkers union from Exxon Mobil's (XOM.N) Beaumont, Texas, refinery, a person familiar with the matter said on Tuesday.Exxon locked out union members on May 1 after it and the USW were unable to agree on a new, six-year labor contract for the refinery...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) - Vital Metals (ASX: VML), thefirst rare earths producer in Canada and only the second in North America,announced Tuesday that it has signed a non-binding Memorandum of Understanding("MOU") with rare ear...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) - Jervois Global (TSX-V: JRV) todayannounced that underground construction of its 100%-owned Idaho CobaltOperations ("ICO") in the state of Idaho, United States, has commenced."This historic step marks t...Read More
WASHINGTON, Oct 19 (Reuters) - U.S. labor shortages may outlast the coronavirus pandemic and limit overall economic growth unless the country comes up with better education, health and childcare policies to boost the number of people willing and able to work, Richmond Federal Reserve President Thomas Barkin said on Tuesday."As our workforce ages and birthrates decline, we could find workforce avai...Read More
Oct 19 (Reuters) - Chinese President Xi Jinping is facing resistance over a nationwide property tax aimed at curbing housing speculation, the Wall Street Journal reported on Tuesday, citing people with knowledge of government deliberations.Earlier this year, Xi assigned to Han Zheng, the most senior of China's four vice premiers, the task of rolling out the levy much more widely, according to the...Read More
MOSCOW, Oct 19 (Reuters) - Russia said on Tuesday it would this month seek to fine U.S. tech giant Google a percentage of its annual Russian turnover for repeatedly failing to delete content deemed illegal, Moscow's strongest effort yet to rein in foreign tech firms.Communications regulator Roskomnadzor said Google had failed to pay 32.5 million roubles ($458,100) in penalties levied so far this y...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) - BHP reported yesterday thatthe group copper equivalent production decreased by 5% in the September 2021quarter following lower minerals volumes largely a result of plannedmaintenance.The company said i...Read More
(Kitco News) - The recent bullish momentum forBitcoin is likely to be sustained because key technical levels have beenbreached, and the fear from China's tightening regulation has largelydissipated, said Florian Grummes, managing director of Midas Touch Consulting. "We have a good chance to see$100k by the end of the year, maybe even higher. Of course, that would spark analtcoin season again. If...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 pricesare higher in midday U.S. trading Tuesday, with silver sharply up and notchinga five-week high. Gold prices have backed well down from the session high onprofit taking by the sh...Read More
(Updates prices, adds details)LONDON, Oct 19(Reuters) - Sterling hit a four-week high against the dollar on Tuesday as expectations mount the Bank of England (BoE) will hike interest rates, while the greenback dipped as the rapid rise in U.S. Treasury yields in recent days stabilised.BoE Governor Andrew Bailey on Sunday sent perhaps the clearest signal yet of a pending hike, saying the BoE will "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 prices remain stuck in neutral below $1,800 an ounce.Commodity analysts at HSBC are warning investors that gold gains could belimited in the near term as the Federal Reserve's plan to normalize it...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) - Trigon Metals (TSXV:TM)announced today that the Kombat copper mine in Namibia officially resumedproduction after 14 years of closure.Trigon has successfullyrestarted the Kombat mine with a successful b...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) - B2Gold (TSX: BTO) (NYSE: BTG)announced Tuesday that its total gold production in Q3 2021 was 310,261 ounces(including 14,538 attributable ounces from Calibre), above budget by 7% and 18%higher than 263...Read More
LONDON (Reuters) - Banks are demanding much stricter environmental criteria when financing shipping companies as investor pressure grows on the sector to accelerate going greener, according to Boston Consulting Group (BCG).Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world’s CO2 emissions and BCG forecast the industry will need $2.4 trillion to achieve n...Read More
Oct 19 (Reuters) - Snap Inc (SNAP.N) said on Tuesday it is launching a studio to help brands create augmented reality advertising and experiences, part of a move to popularize the use of technology that can overlay computer-generated images onto a person's view of the real world.The owner of photo messaging app Snapchat first became popular with young users for its early forms of augmented reali...Read More
LONDON, Oct 19 (Reuters) - Amazon.com Inc (AMZN.O) and IKEA are among commercial users of container shipping that will opt for zero-carbon marine fuels by 2040 in a new initiative aimed at speeding up decarbonisation in the maritime sector, executives said on Tuesday.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sect...Read More