Nov 5 (Reuters) - With strong demand and short supplies driving inflation more broadly through the economy, the clock may be ticking on how long the Federal Reserve can wait before raising interest rates in response, a U.S. central banker suggested on Friday."As supply chains heal and demand eases, there is reason to expect inflation will eventually moderate, but it is also clear that the risk of...Read More
AMSTERDAM, Nov 5 (Reuters) - Shares in Italian software maker MotorK slumped nearly 10% on Friday, the first day of trading after their initial public offering on Amsterdam Euronext,MotorK, whose software helps car dealerships manage their digital presence, as well as with sales and marketing, raised 75 million euros ($86 million) in the offering, selling a 36.4% stake in the company.The shares we...Read More
GLASGOW, Nov 5 (Reuters) - Cautious optimism has emerged that COP26 in Glasgow can clinch a global carbon market deal unlocking trillions of dollars of green investment, with even hold-out nation Brazil signalling a desire for compromise.With world leaders having left the UN climate summit after a flurry of speeches and announcements early this week, diplomats at COP26 are in the midst of two week...Read More
WASHINGTON (Reuters) - Democrats in the U.S. House of Representatives were poised on Friday to adopt the centerpiece of President Joe Biden's domestic agenda: a $1.75 trillion social policy and climate-change bill and a $1 trillion bipartisan infrastructure bill.The two pieces of legislation represent momentous action by Biden and Congress, including the biggest upgrade of America's roads, bridges...Read More
LONDON/BRUSSELS, Nov 5 (Reuters) - Britain will not trigger an emergency provision in its Brexit deal on Friday, its negotiator said on arriving for talks with the European Union's pointman aimed at overcoming disagreements over trade across the Irish border.The emergency measures, called Article 16, allows either side to take unilateral action if they deem their agreement governing post-Brexit tr...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.Nonfarm payrolls increased by 531,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data...Read More
GLASGOW (Reuters) - For pioneering climate economist Nicholas Stern, the computer revolution of recent decades holds useful lessons about how the falling cost of green technology can be a game-changer, and why economists still struggle to measure and model its implications.To explain the economic stakes involved in ridding the global economy of carbon, the author of the landmark "Stern Review" dra...Read More
This week ends with the last big news announcement of the week,nonfarm jobs number. Whatever the initial reaction is, the action promises tobe wild. With gold, silver and platinum in an uptrend within aconsolidating market, today's job could be enough to break those markets out ofthis pattern. We are long and expect the breakout to come to the upside,continuing the bullish pattern.However, there a...Read More
(Reuters) - Helion Energy, a fusion energy tech startup, on Friday said it raised $500 million to build a net positive electrical generator, one that creates more power than it uses.The latest round values the company at $3 billion. Helion said $1.7 billion in follow on investments were committed if it can prove its technology works, which would be a major step toward making fusion technology a pr...Read More
Nov 5 (Reuters) - Clean energy company Helion said on Friday it had raised $500 million in a funding round led by entrepreneur and veteran investor Sam Altman. (Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber) 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...Read More
Nov 5 (Reuters) - Global bond funds drew massive inflows in the week to Nov. 3 as investors reassessed expectations around the future course for key policy rate hikes ahead of major central bank meetings.Investors purchased a net $13.79 billion in global bond funds, marking their largest net buying since the week to Sept. 1, Lipper data showed.The U.S. central bank on Wednesday announced the taper...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 werelower and hit daily lows in the immediate aftermath of a U.S. jobs report thatwas a bit more upbeat than market expectations. However, prices have sincestabilized and are tr...Read More
LONDON, Nov 5(Reuters) - Sterling fell to five-week lows in early trading on Friday, extending its losses after the Bank of England surprised the market by leaving interest rates unchanged on Thursday.Seven of the nine members of the BoE's Monetary Policy Committee voted to keep the main interest rate at its all-time low of 0.1%, resulting in sterling's biggest daily fall in more than 18 months.Po...Read More
LONDON, Nov 5 (Reuters) - The Bank of England said on Friday it would introduce new rules for its 20 billion-pound ($26.9 billion) Corporate Bond Purchase Scheme which would seek to favour companies which are doing more to reduce their impact on the climate."Firms will now also need to satisfy climate-related eligibility criteria for their bonds to be purchased by the CBPS, with purchases of eligi...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 prices are fighting to hold resistance just below$1,800 as more Americans found jobs in October.Friday, the Bureau of Labor Statistics said 531,000 jobswere created last month. Economists were expe...Read More
(Reuters) - Shares of Emergent BioSolutions Inc tumbled 15% on Friday, following the termination of a U.S. government contract to reserve capacity and expand manufacturing of third-party COVID-19 vaccines at its sites.The contract manufacturer has come under regulatory fire after an accidental mix-up of ingredients ruined about 15 million doses of Johnson & Johnson's COVID-19 vaccine and prompted...Read More
TOKYO, Nov 5 (Reuters) - Japan's economy likely contracted in the third quarter as curbs to contain COVID-19 infections and supply constraints hit consumption and output, a Reuters poll showed, underscoring the slow pace of recovery from the pandemic's damage.While analysts expect growth to rebound in the current quarter, the weak data would reinforce expectations Japan will lag other countries 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) - Bitcoin-U.S. dollar are weakeragain in early U.S. trading Friday. Bulls are keeping alive a price uptrend onthe daily bar chart. However, the recent sideways and choppy trading has nowformed a potentia...Read More
BEIJING, Nov 5 (Reuters) - China's export growth likely moderated slightly in October but remained strong due to robust global demand, easing global supply chain disruptions and a mitigating power crunch, while imports surged on energy demand, a Reuters poll showed on Friday.Exports are expected to have risen 24.5% in October from a year earlier, according to the median forecast of 22 economists i...Read More
SINGAPORE, Nov 5 (Reuters) - Last time the Federal Reserve moved toward reducing bond buying, it triggered a rush of funds out of emerging markets. This time is different, investors say, as they lay bets on sparkling returns extending in some of Asia's biggest developing economies.Indonesia, in particular, has stood out with equity inflows, a steady currency and even its notoriously volatile bond...Read More