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
MADRID, Nov 5 (Reuters) - Spanish oil company Cepsa is exploring a sale of its chemicals business under a strategic review as it seeks to raise funds to accelerate its transition to clean energy, two sources with knowledge of the matter told Reuters.Cepsa is working with Citi (C.N) to identify possible buyers for the division which is valued at up to 3 billion euros ($3.5 billion), the sources s...Read More
WASHINGTON, Nov 5 (Reuters) - U.S. employment increased more than expected in October as the headwind from the surge in COVID-19 infections over the summer subsided, offering more evidence that economic activity was regaining momentum early in the fourth quarter.But the brightening outlook was somewhat clouded by millions of unemployed Americans who remained at home even as companies are boosting...Read More
SAO PAULO, Nov 5 (Reuters) - Brazilian Communications Minister Fabio Faria said on Friday that the government may schedule a new 5G spectrum auction to sell batches that did not attract interest, mainly in the 26 GHZ frequency.Brazil telecom regulator Anatel concluded an auction on Friday with Faria saying in a news conference that the sale raised a total of 46.79 billion reais ($8.44 billion) inc...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) - According to a data byStatistics Canada (StatCan) released yesterday, total exports from Canada weredown 2.3% in September to $53.0 billion, the first decline after threeconsecutive monthly increases.S...Read More
(Kitco News) - Rising inflationpressures and central banks that are in no hurry to raise interest rates areboosting sentiment in the gold market as prices look to end the week above$1,800 an ounce. Although analysts seeroom for gold prices to move higher, a few still note that the market facessignificant overhead resistance. For gold to regain its luster and attract newmomentum, prices have to ult...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) - Centerra Gold (TSX: CG) (NYSE:CGAU) today reported that net earnings and earnings from continuing operationsof $27.6 million were recognized in the third quarter of 2021, compared to netearnings of $20...Read More
Nov 5 (Reuters) - Electric van maker Workhorse Group (WKHS.O) is being investigated by the U.S. Department of Justice, the Wall Street Journal reported on Friday, citing documents reviewed by the newspaper.The focus of the inquiry was not revealed in the documents, the report said. Shares of the company were down 10.4% at $6.47 after the report.Workhorse and the DoJ were not immediately availa...Read More
WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell and Governor Lael Brainard were spotted at the White House on Thursday as President Joe Biden mulls a decision on appointments at the central bank, according to a person close to the process.Biden has not yet made a decision on whom he wants to be Fed chair but expects to do so soon, according to the source.Investors believe Powell remains...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) - Kirkland Lake Gold (TSX:KL)(NYSE:KL) today announced a revised drill intercept for one drill hole reportedin the Lower Phoenix System at Fosterville in the news release issued on August30, 2021. Accord...Read More
LONDON/BRUSSELS, Nov 5 (Reuters) - The European Union said on Friday that Britain had made no move to seek a compromise on post-Brexit trade with Northern Ireland and cautioned London against triggering emergency unilateral provisions in the Brexit deal.Prime Minister Boris Johnson's Brexit negotiator David Frost ruled out immediately triggering such provisions, a move that would sour ties with th...Read More
(Reuters) - Wall Street's main indexes were set for a record open on Friday, as data showing strong jobs growth in October, coupled with positive earnings and Pfizer's COVID-19 pill update, boosted sentiment about economic growth.The Labor Department's report showed U.S. employment increased more than expected last month as COVID-19 infections over the summer subsided, offering more evidence that...Read More
Nov 5 (Reuters) - A trial of Pfizer Inc's (PFE.N) experimental antiviral pill for COVID-19 was stopped early after the drug was shown to cut by 89% the chances of hospitalization or death for adults at risk of developing severe disease, the company said on Friday.The results appear to surpass those seen with Merck & Co Inc's (MRK.N) pill, molnupiravir, which was shown last month to halve t...Read More
(Updates prices, adds analyst comment)Nov 5 (Reuters) - Canada's main stock index scaled a record high on Friday, aided by strength in financial stocks and a slew of upbeat corporate earnings, putting the benchmark index on course for a weekly gain.At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 91.27 points, or 0.43%, at 21,433.4.Financials, which account...Read More
New York, Nov 5 (Reuters) - The dollar hit a more-than one-year high on Friday after data showed the United States created more jobs than expected in October, pushing the country closer to full employment, one of the Federal Reserve's conditions for raising interest rates.Nonfarm payrolls increased by 531,000 jobs last month as the surge in COVID-19 infections over the summer subsided, offering mo...Read More
Mr. Peter Grosskopf reports SPROTT ANNOUNCES THIRD QUARTER 2021 RESULTSSprott Inc. has released its financial results for the three and nine months ended Sept. 30, 2021. Management commentary "During the third quarter of 2021, Sprott demonstrated the strength of our strategy and continued to deliver strong financial results despite precious metals trading sideways for most of the period," said Pe...Read More
(Adds Tenreyro, last paragraph)LONDON, Nov 5 (Reuters) - The Bank of England's top monetary policy officials see "some need" to raise interest rates to fend off a jump in inflation even if most of them wanted to hold off from increasing borrowing costs this week, the BoE's new chief economist said."I think across the committee, there is a recognition that, at least on the basis of today's informat...Read More