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 report by theChilean state copper commission Cochilco released today, the domestic copperproduction in September 2021 was 447,400 tonnes, a decline of 7% compared to 479,800tonnes mined...Read More
Anglo American appointed Duncan Wanblad as chief executive.Wanbald will succeed Mark Cutifani who will retire as chief executive and step down from the board at the AGM after nine years in the role.The company said Wanbald has deep experience operationally at Anglo American. "Duncan Wanblad is the standout and natural successor to Mark Cutifani, bringing his 30 years of international mining experi...Read More
Kenorland Minerals (TSXV: KLD) said today Sumitomo Metal Mining Canada made a $5.2 million investment in Kenorland. Kenorland was up 10% to 78 cents as of 11:43 a.m. ET. Sumitomo purchased 5,211,945 common shares at a price of $1.00 per share for aggregate gross proceeds of $5,211,945. Sumitomo now has 10.1% of the company's outstanding common shares.The company said 80% of funds will be used for...Read More
NEW YORK, Nov 3 (Reuters) - Oil prices fell on Wednesday, after U.S. crude stocks rose more than expected in the most recent week, even as gasoline inventories hit a four-year low in the world's largest oil consumer.Brent crude futures were down $2.53, or 3%, at $82.16 a barrel at 11:19 a.m. EDT (1519 GMT). U.S. West Texas Intermediate (WTI) crude futures tumbled $2.97, or 3.5%, to $80.95 a barrel...Read More
GLASGOW, Nov 3 (Reuters) - The United States on Wednesday announced its support for a new capital market mechanism that will issue investment-grade bonds and raise significant new finance for scaling clean energy and sustainable infrastructure in emerging economies.Underscoring the urgency of acting to stop global warming, Treasury Secretary Janet Yellen told the COP26 climate conference in the Sc...Read More
Nov 3 (Reuters) - A company backed by Blackstone Group (BX.N) and led by former Walt Disney Co (DIS.N) executives Kevin Mayer and Tom Staggs is nearing a deal to buy Moonbug Entertainment for roughly $3 billion, three people familiar with the matter said.The deal for the media house behind children's entertainment show "CoComelon" could be announced as soon as this week, the sources said on We...Read More
Nov 3 (Reuters) - Deere & Co (DE.N) workers were set to continue their three-week-old strike on Wednesday after they voted to reject a second contract reached between the U.S. tractor maker and the United Auto Workers (UAW) union that bumped up wages and bonuses.Shares of Deere were down 2.6% in early trade.The strike will continue after 55% of the workers voted down the agreement, UAW had said...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) - SSR Mining (NASDAQ: SSRM)(TSX: SSRM) today reported that in Q3 2021, the company produced 186,941 goldequivalent ounces (GEO), an increase of 74% over Q3 2020 (107,556 GEO).According to the company'sst...Read More
One thing we can take away from therecent trade in gold, silver and platinum, it sucks. The price action has beenabout as bad as it gets. The metals, although in an uptrend, have wanderedaround the mean as if they were lost.Understanding markets and how theytrade is an important asset for traders and investors. The current actioncreates frustration, impatience and bad decision-making. Traders want...Read More
LONDON, Nov 3 (Reuters) - Tesla cars from Wednesday will be available to Uber (UBER.N) drivers in London looking to buy or lease a green vehicle as part of an incentive scheme to boost electric car use, the ride-hailing app said.Since Uber introduced a clean air fee, which adds 3 pence (4 cents) to every mile of a passenger trip in London, more than 135 million pounds has been collected for driv...Read More
Mr. Raphael Gaudreault reportsARIANNE PHOSPHATE FURTHERS ITS WORK ON ADVANCED BATTERY TECHNOLOGIES Following preliminary test work, conducted in collaboration with several battery industry participants, Arianne Phosphate Inc. will now be sending out its high-purity phosphate concentrate for a more detailed analysis.This next stage of testing has been designed to meet specifications provided by a m...Read More
WASHINGTON, Nov 3 (Reuters) - U.S. Trade Representative Katherine Tai said on Wednesday that protecting consumers' rights and privacy must be a top priority in digital trade policy, and that technology companies have responsibilities in shaping the economy."It is not hyperbole to say that these companies have the power to affect the lives of people and the direction of our civilization's developme...Read More
Nov 3 (Reuters) - Discovery Inc (DISCA.O) beat Wall Street expectations for third-quarter revenue on Wednesday, driven by higher advertising and distribution revenue as the company looks ahead to its proposed merger with AT&T Inc's (T.N) WarnerMedia unit.Revenue rose about 23% to $3.15 billion in the quarter ended Sept. 30, slightly above an estimate of $3.14 billion, according to Refinitiv da...Read More
Nov 3 (Reuters) - Shale producer Chesapeake Energy Corp (CHK.O) on Wednesday said it was increasing its 2021 total oil production forecast to between 24.5 million and 26.5 million barrels, an increase of 1 million barrels from earlier guidance.The company said it plans to run one to three rigs in south Texas next year and two to three rigs in Appalachia, according to a presentation. The company...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 remains deep in negative territory falling to anew session low following stronger than expected activity in the U.S. servicesector.Wednesday,the Institute for Supply Management (ISM) said it...Read More
LONDON, Nov 3 (Reuters) - "Greenwashing" by companies eager to massage their environmental credentials and increase their appeal to ethical investors came under scrutiny on Wednesday with the launch of a standards body that aims to weed out unjustified climate claims.The International Sustainability Standards Board (ISSB) seeks to build on and replace a patchwork of voluntary disclosure practices...Read More
MILAN, Nov 3 (Reuters) - Italy's biggest bank Intesa Sanpaolo (ISP.MI) on Wednesday strengthened its full-year profit outlook after third-quarter earnings beat market expectations helped by lower than forecast loan losses.Intesa's earnings confirmed the encouraging picture for the sector painted by rivals such as France's BNP Paribas(BNPP.PA), Spain's BBVA(BBVA.MC) or Britain's Lloyds(LLOY.L...Read More
Nov 3 (Reuters) - The New York Times Co (NYT.N) reported better-than-expected quarterly earnings on Wednesday, as a surge in marketing spend by companies emerging from the pandemic bolstered its digital ad business.The publisher's digital ad revenue jumped 40.2% in the third quarter, putting it on a path to growth following a hammering at the peak of the pandemic when companies slashed their ad...Read More
(Adds quotes, background)LISBON, Nov 3 (Reuters) - Portugal does not expect any credit rating downgrades after parliament last week rejected the 2022 budget bill in a move likely to trigger snap elections, Finance Minister Joao Leao told reporters on Wednesday."After the pandemic crisis, Portugal was one of the first countries to have its rating not downgraded, but upgraded," he said, referring to...Read More
(Adds details, quotes)GLASGOW, Nov 3 (Reuters) - International Monetary Fund chief Kristalina Georgieva said on Wednesday she was "very optimistic" about reaching a lending arrangement with Zambia, one of just three countries that has sought debt restructuring under a G20 framework.Georgieva told Reuters on the sidelines of the COP26 UN climate conference that Zambian authorities had done "fantast...Read More