WASHINGTON, Nov 1 (Reuters) - A U.S. Treasury Department-led regulatory body called on Monday for Congress to regulate issuers of "stablecoins" like banks and urged financial agencies to assess whether the role of these fast-growing digital assets in the country's payments system posed a systemic risk.The hotly awaited report by the President's Working Group on Financial Markets will likely boost...Read More
HONG KONG, Nov 2 (Reuters) - The posting of an ancient Chinese poem by Tesla (TSLA.O) CEO Elon Musk on social media on Tuesday has driven Chinese internet users to engage in a frenzied debate game over his meaning, with many also praising him for his knowledge of the text.Musk, who is known for his cryptic Twitter posts, wrote in English "Humankind" before posting an abbreviated version of the '...Read More
(Reuters) - It is hardly a secret by now that the Federal Reserve is going to reduce its support for the U.S. economy soon: starting this month it will likely begin to pare its monthly asset purchases by $15 billion each month until ending them by mid-2022.That, at least, is the roadmap suggested by the Fed's post-meeting statements, minutes of its meetings, and remarks from Fed Chair Jerome Powel...Read More
TOKYO (Reuters) - Japanese policymakers on Tuesday reaffirmed the Bank of Japan's (BOJ) commitment to its 2% inflation target in a meeting held between the central bank chief and the country's economy and finance ministers.The Japanese government and the central bank also agreed to keep in close contact and cooperation, in line with commitments made in a 2013 joint statement, which also laid out t...Read More
* Graphic: World FX rates in 2021 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9HvLONDON, Nov 2 (Reuters) - The pound edged lower on Tuesday, hovering around a three-week low, pressured by uncertainty whether the Bank of England will raise interest rates this week.Sterling rose to a 20-month high versus the euro in late October amid expectations for a BoE i...Read More
SHANGHAI (Reuters) - Yahoo said it had stopped allowing its services to be accessible from mainland China "in recognition of the increasingly challenging business and legal environment", the second Western tech brand to quit the country in recent weeks.The company stopped providing content for users in mainland China as of Nov. 1, according to a statement published on its website, which directed u...Read More
LONDON (Reuters) -Oil steadied near $85 a barrel on Tuesday, not far from a multi-year high, supported by signs that supply from OPEC and other producers is falling short, although expectations of a rise in U.S. inventories was weighing.The increase in OPEC's oil output in October undershot the rise planned under a deal with allies, a Reuters survey found on Monday, due to involuntary outages and...Read More
(Reuters) - KKR & Co Inc said on Tuesday its third quarter distributable earnings more than doubled to $925.1 million, driven by strong growth in management fees and profit from asset sales in its private equity business.KKR and other private equity firms have benefited from a flurry of mergers and acquisitions as the global economy recovers from the pandemic. Its peers Blackstone Inc and Carlyle...Read More
NEW YORK, Nov 2 (Reuters) - Jefferies Financial Group has recruited senior bankers from rivals including JPMorgan Chase & Co and Barclays PLC to strengthen its investment banking unit, according to an internal memo seen by Reuters on Tuesday.Matthias Kristol will join Jefferies as global head of asset and wealth management investment banking, while Aaron Bruker will join the bank as head of sideca...Read More
AUSTIN/SEATTLE, Nov 2 (Reuters) - In Wichita, Kansas, nearly half of the roughly 10,000 employees at aircraft companies Textron Inc (TXT.N) and Spirit AeroSystems (SPR.N) remain unvaccinated against COVID-19, risking their jobs in defiance of a federal mandate, according to a union official."We're going to lose a lot of employees over this," said Cornell Adams, head of the local Machinists uni...Read More
TOKYO, Nov 2 (Reuters) - Nintendo Co. (7974.T) will make 20% fewer Switch games consoles than planned in the year to March 31 because of shortages of semiconductors and other components, the Nikkei business daily reported.Switch production for the business year will be around 24 million units, the paper reported, without saying where it obtained the information."The supply and demand of semicond...Read More
Nov 2 (Reuters) - Tesla Inc (TSLA.O) top boss Elon Musk said the electric carmaker had not signed a contract with Hertz, more than a week after the car rental firm announced a massive deal with the electric car company.Tesla's shares fell 5% to $1,146 in premarket trading, after a steep jump following the news of the biggest-ever order - 100,000 electric cars for Hertz - on Oct. 25, which helped...Read More
MONTREAL, Nov 2 (Reuters) - Airlines are reopening airport lounges with higher-end service to lure back premium travelers after the pandemic, while increasingly opening the VIP experience to tourists - for a fee.Premium travel plummeted during the COVID-19 crisis, depriving airlines of higher-margin fares. But with traffic rebounding in certain regions and U.S.-bound travel set to reopen on Nov 8,...Read More
SINGAPORE, Nov 2 (Reuters) - Australia's dollar weakened on Tuesday after the country's central bank dampened investor hopes for a hawkish pivot, kicking off a big week for monetary policy that includes decisions from the Federal Reserve and Bank of England.The Aussie dipped as much as 0.47% before trading 0.23% lower at $0.75025. Last week, it was as high as $0.75555, a level not seen since July...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 are modestly down in early U.S. dealings Tuesday, as the marketsare pausing ahead of the U.S. central bank's policy-setting meeting. Decembergold was last down $2.80 at $1,793.1...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. dollar are higherin early U.S. trading Tuesday. Bulls are keeping alive a price uptrend on thedaily bar chart. The Bitcoin bulls have the firm overall near-term technicaladvantage. The pat...Read More
GLASGOW, Nov 2 (Reuters) - Leaders at the COP26 global climate conference in Glasgow have pledged to stop deforestation by the end of the decade and slash emissions of the potent greenhouse gas methane.While major powers have traded blame for the world's inability to agree on rapid reductions in the use of fossil fuels to limit global warming to manageable levels, there are at least signs of r...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) - Karen Jones FSTA and Axel Rudolph FSTA at Commerzbank have taken alook at the dollar index chart in the bank's latest technical research note.The team point out that there could be an Elliott Wave form...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) - This morning manufacturing PMI's are telling a familiar story assupply-side issues are forcing a slowdown despite demand remainingfirm.The report said, "The eurozone manufacturing sector lostfurther mo...Read More
Mr. Tom Larsen reportsELORO INTERSECTS 100 AG EQ/T (INCLUDING 38.71 G AG/T, 0.88%ZN AND 0.51%PB) OVER 188.5 M IN THE SANTA BARBARA BRECCIA PIPE AT ISKA ISKA SILVER-TIN POLYMETALLIC PROJECT, POTOSI DEPARTMENT, BOLIVIAEloro Resources Ltd. has provided an update on its Iska Iska silver-tin polymetallic project in the Potosi department, southern Bolivia. To date, the company has completed 34,409 metr...Read More