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 aretrading not far from unchanged in subdued midday U.S. trading Monday. Risinggovernment bond yields recently and an appreciating U.S. dollar on the foreign exchangemarket are...Read More
* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Adds quotes, updates headline and rates)LONDON, Oct 11 (Reuters) - Sterling rose against both the euro and the dollar after the Bank of England said inflation levels in Britain were concerning and urged Britons, in interviews published over the weekend, to get ready for ear...Read More
LONDON, Oct 11 (Reuters) - Cryptocurrency analytics firm Elliptic said on Monday it had raised $60 million from investors including SoftBank and Wells Fargo Strategic Capital, the latest blockchain analytics firm to attract mainstream investment.With larger investors warming to cryptocurrencies, blockchain analysis and data firms such as Elliptic are in greater demand, in part due to growing regul...Read More
Friday saw anotherhorrific jobs number which is exactly what the current administration wants.They want to keep stimulus as they work towards universal basic income andsocialized medicine. Gold was rallying just before the number and exploded justafter to $1,781. By the end of the day,gold had closed lower on the day, proving the simple fact that the trend isyour friend. Silver managed to ho...Read More
LONDON (Reuters) - Financial services groups responsible for more than $90 trillion in assets on Monday called for the leaders of the world's largest economies to push through "clear, credible and ambitious" policies to battle climate change.The Glasgow Financial Alliance for Net Zero, chaired by United Nations climate envoy Mark Carney, said the policies, taken together, would restructure the glo...Read More
WASHINGTON, Oct 11 (Reuters) - The World Bank will keep pushing to help developing countries improve their business climates, World Bank President David Malpass said on Monday when asked about the bank"s decision to cancel its flagship "Doing Business" reports after a series of data irregularities and claims of data manipulation.Asked how the bank would rebuild its credibility after the scandal, M...Read More
SYDNEY, Oct 11 (Reuters) - A tech body backed by the Australian units of Facebook, Google and Twitter said on Monday it has set up a special committee to adjudicate complaints over misinformation, a day after the government threatened tougher laws over false and defamatory online posts.The issue of damaging social media posts has emerged as a second battlefront between Big Tech and Australia, whic...Read More
BERLIN, Oct 11 (Reuters) - Canada's Rock Tech Lithium (RCK.V) plans to build a converter plant in Brandenburg, the German state surrounding Berlin, to make battery-grade lithium hydroxide for electric vehicles, the state's energy ministry and the company said on Monday.The plant will be in the town of Guben, a roughly 90-minute drive from where Tesla (TSLA.O) is building its gigafactory, which...Read More
NEW YORK/LONDON (Reuters) - The dollar soared to its highest in nearly three years versus the Japanese yen on Monday as investors remained confident the U.S. Federal Reserve will announce a tapering of its massive bond-buying next month despite softer U.S. payrolls figures.Traders shrugged off Friday’s mostly lacklustre jobs report, pushing U.S. bond yields higher. The yen, which is known fo...Read More
WASHINGTON, Oct 11 (Reuters) - The debt burden of the world's low-income countries rose 12% to a record $860 billion in 2020 as countries responded to the COVID-19 crisis with massive fiscal, monetary, and financial stimulus packages, the World Bank said in a report released Monday.World Bank President David Malpass said the report showed a dramatic increase in the debt vulnerabilities facing low-...Read More
ATLANTA, Oct 11 (Reuters) - Global Payments Inc (GPN.N) CEO Jeff Sloan said in an interview he would be open to a large acquisition again, two years after acquiring peer TSYS in a $21.5 billion all-stock deal, while continuing to chase small bolt-on purchases to bolster growth."I certainly see deals as big as TSYS in our future," Sloan, who has led the Atlanta-based payments processor since 2013...Read More
Oct 8 (Reuters) - The job market recovery for U.S. women faced a setback in September, much as it did about a year ago after many school districts switched to online learning. But the drop-off in the number of women working or looking for a job last month was much smaller than in 2020 as more schools reopened this year.The data, included in the monthly U.S. employment report here released by the...Read More
Oct 11 (Reuters) -China's major copper smelters in September kept outputflatmonth on month, as maintenance and curbs on power usageprevented them from making more metal and cashing in on highertreatment charges, Antaike said on Monday. The 22 smelters surveyed by Antaike churned out 768,300tonnesof refined copper cathode last month, versus 767,600 tonnes inAugust and up 3.8% year on year, the stat...Read More
WASHINGTON, Oct 10 (Reuters) - Data-rigging allegations against International Monetary Fund Managing Director Kristalina Georgieva were set to loom over the opening of week-long IMF-World Bank annual meetings on Monday as the Fund's executive board failed to conclude its review after yet another marathon meeting.The IMF board met on Sunday with Georgieva and the law firm that claims she pressured...Read More
Oct 11 (Reuters) - Merck & Co Inc (MRK.N) said on Monday it has applied for U.S. emergency use authorization for its tablet to treat mild-to-moderate patients of COVID-19, putting it on course to become the first oral antiviral medication for the disease.An authorization from the U.S. Food and Drug Administration could help change clinical management of COVID-19 as the pill can be taken at h...Read More
LONDON, Oct 11 (Reuters) - China has won the artificial intelligence battle with the United States and is heading towards global dominance because of its technological advances, the Pentagon's former software chief told the Financial Times.China, the world's second largest economy, is likely to dominate many of the key emerging technologies, particularly artificial intelligence, synthetic biology...Read More
Oct 11 (Reuters) - Cryptocurrency trading firm Copper.co said on Monday former British finance minister Philip Hammond has joined it as a senior adviser to help with strategy as the London-based company expands its global footprint.Copper.co provides tools and services to acquire, trade, and store cryptocurrencies. The company completed an extended $75 million funding round in June, led by investo...Read More
WASHINGTON, Oct 8 (Reuters) - The White House is considering a wide ranging oversight of the cryptocurrency market to combat the growing threat of ransomware and other cyber crime, a spokeswoman said on Friday."The NSC and NEC are coordinating across the interagency to look at ways we can ensure that cryptocurrency and other digital assets are not used to prop up bad actors, including ransomware c...Read More
(Reuters) - Chesapeake Energy Corp on Monday named long-time finance chief Domenic Dell'Osso as its chief executive officer, months after ousting former top boss Doug Lawler.Dell'Osso joined Chesapeake in 2008 and was appointed CFO in 2010. He takes the reins from Chairman Mike Wichterich, who has served as interim CEO since Lawler's departure in April.Once the second-largest U.S. natural gas prod...Read More
STOCKHOLM, Oct 11 (Reuters) - Economists David Card, Joshua Angrist and Guido Imbens won the 2021 Nobel economics prize on Monday for pioneering "natural experiments" to show real-world economic impacts in areas from the U.S. fast-food sector to migration from Castro-era Cuba.Unlike in medicine or other sciences, economists cannot conduct rigidly controlled clinical trials. Instead, natural experi...Read More