LONDON (Reuters) - Only one in three companies are properly applying globally-agreed climate-related disclosure standards for helping investors to pick companies committed to sustainability, global regulators said on Thursday.A task force set up by the Financial Stability Board - which groups regulators, central banks and treasury officials from G20 countries - set out recommendations in 2017 on h...Read More
MOSCOW, Oct 14 (Reuters) - Russia’s central bank has seen an influx of foreign investors buying OFZ treasury bonds on the secondary market, an official said, as high yields outweigh the risks of sanctions for some.The Russian central bank has raised its key interest rate five times this year to rein in growing consumer prices and said more increases from the current level of 6.75% were possi...Read More
(Reuters) -Bank of America Corp beat estimates for third-quarter profit on Thursday, as it released reserves of $1.1 billion and recorded strong growth in its lending and equity-trading divisions.Net income applicable to common shareholders rose to $7.26 billion, or 85 cents per share, for the quarter ended Sept. 30 from $4.44 billion, or 51 cents per share, a year earlier.Analysts on average had...Read More
DUBAI (Reuters) - A unit owned by Abu Dhabi state fund Mubadala Investment Company has acquired one of the biggest franchisees of Taco Bell Corp in the United States, according to a statement on Thursday.Mubadala Capital, an asset management subsidiary, bought K-MAC from Lee Equity Partners Opportunity Fund, the unit said in the statement.K-MAC operates over 300 Taco Bell restaurants, mostly in th...Read More
(Adds quotes, detail, chart)TAIYUAN, China, Oct 14 (Reuters) - Aluminium processors in China face slimmer profits this year due to surging metal prices, Shandong Nanshan Aluminium Co Ltd's chairman said on Thursday.Prices of aluminium, used in products from food cans to aeroplanes, have risen by more than 50% this year on strong demand and output cuts due to an energy crisis and flooding in top pr...Read More
SHANGHAI, Oct 14 (Reuters) - U.S.-listed Chinese online brokerages Futu Holding (FUTU.O) and UP Fintech Holding face regulatory risks as China's new personal data privacy law takes effect on Nov. 1, the official People's Daily said in an analysis on its website.Such brokerages, which help mainland Chinese individuals invest in overseas stock markets such as in the United States and Hong Kong, co...Read More
(Kitco News) Gold was largely unchanged and trading near daily highs after the U.S. Producer Price Index (PPI) rose to 8.6% on an annual basis in September versus the expected 8.7%.This marked the largest year-over-year advance since November 2010.The PPI slowed to 0.5% on a monthly basis in September from August's 0.7%. Core PPI, which strips out volatile food and energy prices, came in at 0.2% m...Read More
(Kitco News) The initial weekly jobless claims declined 36,000 to 293,000 in the week to Saturday, beating market expectation sand marking a fresh pandemic low.Economists' consensus calls projected for initial claims to come in at 319,000 following the revised level of 329,000 reported in the previous week.The four-week moving average for new claims - often viewed as a more reliable measure of the...Read More
(Reuters) - Wells Fargo & Co reported a rise in third-quarter profit on Thursday as the bank released funds set aside to cover soured loans brought on by the COVID-19 pandemic.The fourth-largest U.S. bank has operated since 2018 under consent orders from the Federal Reserve and two other U.S. financial regulators to improve governance and oversight, with the Fed also capping its assets at $1.95 tr...Read More
(Reuters) -Morgan Stanley on Thursday reported a bigger third-quarter profit than expected, as it closed more deals and generated a record $1.27 billion from advisory business during the three months.The Wall Street bank benefited from global mergers and acquisitions touching a new high, with deals totaling $1.52 trillion being announced in the three months ended Sept. 27.The figure represents a g...Read More
WASHINGTON, Oct 14 (Reuters) - The Biden administration on Thursday began a process to amend federal procurement rules to require the U.S. government - the world's largest buyer of goods and services - to factor the risks of climate change into its contracts.The administration put out a notice of proposed rulemaking seeking input over 60 days from federal contractors on an amendment to the Federal...Read More
GENEVA (Reuters) - U.S. Trade Representative Katherine Tai on Thursday affirmed the Biden administration's commitment to the World Trade Organization (WTO), saying that reforms were possible as the body readies for a major ministerial conference next month.The 25-year-old global trade body is facing questions about its relevance and director-general Ngozi Okonjo-Iweala is under pressure to deliver...Read More
WASHINGTON (Reuters) - President Joe Biden is pushing to ease supply shortages and tame rising prices in time for Christmas, but unsnarling U.S. supply lines could take far longer, experts told Reuters.Biden brought together powerbrokers from ports, unions and big business on Wednesday to address shipping, labor and warehousing pain in the U.S. supply chain, and announced new around-the-clock port...Read More
Oct 13 (Reuters) - Group of Seven advanced economies said on Wednesday that any digital currency issued by a central bank must "support and do no harm" to the bank's ability to fulfill its mandate on monetary and financial stability, and must also meet rigorous standards.If issued, a central bank digital currency (CBDC) would complement cash and could act as a liquid, safe settlement asset and an...Read More
LONDON, Oct 13 (Reuters) - A collapse in cryptocurrencies is a "plausible scenario" and rules are needed to regulate the fast-growing sector as a "matter of urgency", Bank of England Deputy Governor Jon Cunliffe said on Wednesday.Risks to financial stability from the application of crypto technologies are currently limited, but there are a number of "very good reasons" to think that this might not...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 areposting modest gains in early U.S. trading Thursday and hit four-week highs overnight.The metals are being propelled higher by improving near-term chart postures, theU.S. dol...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 higherand hit a five-month high Thursday. The Bitcoin bulls still have the solidoverall near-term technical advantage and gained more power today, to suggestat least sideways-to-...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 (ABX) reported preliminary Q3 sales of 1.07 million ounces of gold and 101 million pounds of copper, as well as preliminary Q3 production of 1.09 million ounces of gold and 100 milli...Read More
Mr. Peter Dembicki reportsTIER ONE SILVER CHANNEL SAMPLES 20 METRES OF 293.8 G/T AGEQ AT NEW CAMBAYA TARGET ON THE CURIBAYA PROJECTTier One Silver Inc. has received high-grade channel sampling results from the recently identified Cambaya target at the Curibaya project in southern Peru. The results from the first 20 channel samples taken from Cambaya have defined an area one kilometre by 600 metres...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) - Exports of Lithium fromPort Hedland have jumped from 10,494 dry metric tonnes in August to 62,230 drymetric tonnes in September, according to monthly data from Pilbara PortsAuthority. In July, Port Hed...Read More