SAN FRANCISCO, Nov 5 (Reuters) - Tesla Inc opened afactory to produce battery manufacturing equipment in theCanadian city of Markham, Ontario, the city said on Friday, asthe electric carmaker ramps up the production of cheaper,higher-range 4680 battery cells.In 2019, the U.S. electric carmaker acquired Canada-basedHibar, which manufactures pumps used in fast-speed batteryassembly that Tesla is int...Read More
"Come writers and critics who prophesize with your pen,and keep your eyes wide, the chance won't come again, and don't speak too soon,For the wheel's still in spin" The Times They Are A-Changin' -- Bob DylanBeginning onThursday, October 28, when the European Central Bank held a press conferencefollowing their meeting that took place a few days earlier, which was followedby statements by both the F...Read More
Kitco MEDIA ? The Metals, Money, and Markets Weekly by Mickey Fulp - November 5, 2021 Join The Mercenary Geologist Mickey Fulp and Trevor Hall of Mining Stock Daily every Friday afternoon for a recap of metals, money, and markets. Each episode provides commentary on performances and a look ahead to next week's markets. You can listen to the weekly wrap exclusively at Kitco.com. We trust you will...Read More
Nonfarm payrolls grew at 531,000 in October, more than the consensus estimate of 450,000. The unemployment rate has fallen to 4.6%, down from 4.8% the previous month.Jim Awad, managing director of Clearstead Advisors said that a recovering labor market is a sign of higher wages to come, which in turn will cause higher inflation and higher interest rates. Speaking to David Lin, anchor for Kitco New...Read More
(Reuters) -Cyber security firm McAfee Corp is nearing a deal to sell itself to U.S. private equity firm Advent International for more than $10 billion, the Wall Street Journal reported on.wsj.com/3bIGfIr on Friday, citing people familiar with the matter.The deal could be announced on Monday, although the talks could still fall apart, the report said.McAfee and Advent did not immediately respond...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) - It has been a frustrating couple ofmonths for gold investors as the precious metal has been unable to attract anysustainable momentum. However, it looks like the tide is turning as risinginflation mak...Read More
(Kitco News) With the Federal Reserve's tapering and new employment data out of the way, the gold market is finally moving.Gold jumped $25 on Friday as markets started to anticipate a more patient Federal Reserve going forward. December Comex gold futures were last at $1,818.60, up 1.40% on the day.Despite kicking off tapering this month, Federal Reserve Chair Jerome Powell acknowledged uncertaint...Read More
New York, Nov 5 (Reuters) - The dollar jumped on Friday to hit its highest level in more than a year, after data showed stronger U.S. job growth than expected in October, but retreated a bit in late trading as risk appetite improved and stocks rallied.Nonfarm payrolls increased by 531,000 jobs last month, above the 450,000 forecast, as the latest surge in COVID-19 infections subsided. read more...Read More
MEXICO CITY (Reuters) - The International Monetary Fund (IMF) on Friday said Mexico’s recent inflationary pressures, while mostly temporary, pose a difficult balancing act amid still sizable slack in its economy."A credible medium-term tax reform, to be implemented as the economy strengthens, would help finance needed social and public investment spending and put the public debt to GDP ratio...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) - Australia's largest hybridrenewable microgrid, and the first in the country to power a mine predominantlywith wind- generated electricity, was officially opened at the Agnew gold mineowned by Gold Fiel...Read More
Kitco MEDIA ? Recapping Key M&A News And Trends For Precious Metals StocksBy Cory FleckContributing tokitco.com Follow @KitcoNewsNOWFleck@kereport.comwww.kereport.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals I...Read More
(Recasts, updates prices)* Gold eyes best week in more than 2 months* Platinum, palladium on course for weekly upticks* Lower yields complementing gains - analystNov 5 (Reuters) - Gold rose more than 1% on Friday to a near two-month high as major central banks' dovish tone on interest rates this week lifted the demand for the safe-haven metal.Spot gold was up 1.2% at $1,813.36 per ounce by 01:45 p...Read More
HOUSTON (Reuters) - Occidental Petroleum Corp will increase its fixed dividend payments to shareholders after cutting its debt levels to $25 billion, Chief Executive Officer Vicki Hollub said on Friday.“We are going to get there sooner than we expected,” Hollub told analysts on a call to comment on the companies third quarter results.Reporting by Sabrina Valle; Editing by Chris Reese...Read More
Whata great way to start November with Equities making new all-time highs, the U.S.creating more jobs than expected, and the dreaded Fed meeting behind us. Itappears on the surface that the Fed was much more accommodative thananticipated, considering when Bernake tapered, Equities fell 5% that week. Goldfutures are back at $1815 and need to clear two more three-star majorresistance levels 1825-182...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 said todaythat it has set an ambition to achieve carbon neutrality across its controlledocean freight activities by 2040, with an interim 30% reduction in emissions by2030. The company a...Read More
Nov 5 (Reuters) - Wall Street's main indexes hit record highs in a broad-based rally on Friday as data showing strong jobs growth in October, coupled with Pfizer's COVID-19 pill update, bolstered sentiment about economic growth.Ten of the 11 major S&P sectors advanced, with three of them gaining more than 1% each. The small-cap Russell 2000 index (.RUT) added 1.6%, also scaling a record peak...Read More
SAN FRANCISCO, Nov 5 (Reuters) - Tesla Inc (TSLA.O) plans to open a factory to produce battery manufacturing equipment in the Canadian city of Markham, Ontario, Mayor Frank Scarpitti said, as the electric carmaker ramps up the production of cheaper, higher-range 4680 battery cells.Scarpitti did not provide many details. In 2019, the U.S. electric carmaker acquired Canada-based Hibar, which manuf...Read More
By Marcelo RochabrunAQUIA, Peru, Nov 5 (Reuters) - The head of Antamina, Peru'slargest copper producer, looked to defuse tensions with ruralcommunity protesters on Friday, addressing residents in a localmeeting after a blockade forced the mining firm to suspendoperations last week.Victor Gobitz, head of Antamina, part-owned by Glencore Plc and BHP Billiton , told residents at a townhall meeting 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) - Novo Resources (TSX: NVO) announcedtoday that operations have resumed at its Golden Eagle processing facility inAustralia.The company said that theGolden Eagle Mill underwent opportunistic maintenance...Read More
BETHLEHEM, Pa., Nov 5 (Reuters) - Dozens of state and local governments are scrambling to explain how they plan to distribute billions of dollars in home rental aid funds in coming months as the U.S. Treasury pursues plans to reallocate unspent funds from lagging communities.U.S. Deputy Treasury Secretary Wally Adeyemo told Reuters that every underperforming jurisdiction has contacted the departme...Read More