WASHINGTON, Nov 1 (Reuters) - U.S. Senate Majority Leader Chuck Schumer said on Monday that talks on President Joe Biden's social policy and climate change legislation continue to make "good progress," despite concerns aired earlier in the day by a key Democratic lawmaker. (Reporting by David Morgan, Editing by Rosalba O'Brien) Disclaimer: The views expressed in this article are those of the auth...Read More
WASHINGTON, Nov 1 (Reuters) - U.S. manufacturing activity slowed in October, with all industries reporting record-long lead times for raw materials, indicating that stretched supply chains continued to constrain economic activity early in the fourth quarter.The Institute for Supply Management (ISM) survey on Monday also hinted at some moderation in demand amid surging prices, with a measure of new...Read More
(Updates prices, adds chart)LONDON, Nov 1 (Reuters) - The pound slipped on Monday, touching its lowest in more than two weeks versus the dollar and euro, pressured by uncertainty over the Bank of England’s policy stance and an escalating post-Brexit spat with France over fish.Robust German and U.S. inflation last week caused an aggressive re-pricing of interest rate bets in those markets.Whi...Read More
(Reuters) - The Nasdaq index hovered at a record high on Monday boosted by gains in Tesla and Meta Platforms, although investors refrained from making big bets ahead of the Federal Reserve's potential move to start paring pandemic-era support for the world's largest economy.At 12:01 p.m. ET, the Dow Jones Industrial Average was up 46.29 points, or 0.13%, at 35,865.85, the S&P 500 was up 1.95 point...Read More
(Reuters) - BlackRock has hired a senior executive from communications and investor relations firm Joele Frank to lead its investment stewardship team in the Americas, which oversees the asset manager's interactions with hundreds of U.S. companies.John Roe will join as managing director, head of BlackRock Investment Stewardship (BIS), Americas, next week, according to a memo sent to employees on M...Read More
StrengthsOf the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Aigang (AIX), rising 66,384.61%.The Wharton School of business at the University of Pennsylvania, one of the nation's premier business schools, plans to accept cryptocurrency as tuition payment for its online blockchain and digital assets program. The Ivy League's program will accept digital coins such a...Read More
StrengthsThe best performing precious metal for the week was gold, but still off 0.52%. Gold remained range bound as traders weighed concerns over the world's economic recovery, which is supporting demand for haven assets, against prospects of tighter monetary policy. The collapse in the global sovereign-debt yield curve is accelerating, sending a foreboding signal to central banks that a withdraw...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) - The National Institute ofStatistics and Informatics of Peru (INEI) announced today that the domesticmining and hydrocarbons sector increased by 11.07% in September 2021 comparedto the same month of 202...Read More
MEXICO CITY, Nov 1 (Reuters) - Mexico's manufacturing sector moved closer to the break even point in October but still contracted for the 20th month in a row, as global supply chain bottlenecks led to raw material shortages, a survey showed on Monday.The IHS Markit Mexico Manufacturing Purchasing Managers' Index rose to 49.3 in October from 48.6 in September, below the 50 threshold that separates...Read More
WASHINGTON, Nov 1 (Reuters) - Price and wage increases running at multi-decade highs may challenge Federal Reserve officials this week as they try to maintain a balance between ensuring inflation remains contained and giving the economy as much time as possible to restore the jobs lost since the pandemic.Investors on Monday continued to increase their expectations that high and persistent inflatio...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) - Lithium Americas (TSX: LAC)(NYSE: LAC) announced Monday that it has submitted an unconditional offer toMillennial Lithium to acquire all of the outstanding shares of Millennial. According to the compan...Read More
Nov 1 (Reuters) - Centrist Democratic Senator Kyrsten Sinema and U.S. House of Representatives Speaker Nancy Pelosi spoke over the weekend on the issue of prescription drug prices, CNN reported on Monday.Progressive Senator Bernie Sanders said on Sunday he was working on getting a provision to lower prescription drug prices into the $1.75 trillion social spending bill pending in the U.S. Congress...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) - The SHIBA INU coin made headlinesin recent weeks, having climbed 780% in the last month alone. The coin, created by an individualor group known as Ryoshi, was intended to be a satire on the popular Dog...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) - Kazakhstan's Kazatomprom(LSE: KAP), the world's largest uranium producer, announced today that thecompany produced 2,928 tonnes of uranium (as U3O8) in Q3 2021 on anattributable basis, which is 16% mor...Read More
WASHINGTON, Nov 1 (Reuters) - U.S. manufacturing activity slowed in October as a measure of new orders dropped to a 16-month low and factories continued to experience delays with deliveries of raw materials.The Institute for Supply Management (ISM) said on Monday its index of national factory activity slipped to a reading of 60.8 last month from 61.1 in September.A reading above 50 indicates expan...Read More
(Kitco News) Tech billionaire Peter Thiel views bitcoin at $60,000 as signaling "a crisis moment," stating that he regrets not buying more earlier."Bitcoin [at] $60,000 – I'm not sure that one should aggressively buy [at that price]. But surely what it is telling us is that we are having a crisis moment," Thiel said at the second National Conservatism Conference.High crypto prices point to a...Read More
Nov 1 (Reuters) - Chinese developer Modern Land (China) said on Monday a default on a bond repayment last week has pulled forward repayment dates for a further $321 million worth of notes, and the company withdrew an interim dividend to hold on to cash.The development highlights the impact of China Evergrande here Group, which narrowly averted a costly default, on the rest of the high-yield sect...Read More
LONDON (Reuters) - The Bank of England heads into its most unpredictable interest rate decision in years this week, leaving investors and analysts on edge about the chance of its first hike since the pandemic struck the world economy.Inflation in Britain looks set to rise to 5% - more than double the BoE's 2% target - despite a slowdown in the economy's recovery from last year's slump, and BoE Gov...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) announcedMonday that a routine crusher maintenance shut at its Nullagine gold project'sGolden Eagle processing facility has discovered greater wear than anticipatedon its pitm...Read More
Nov 1 (Reuters) - Bank of America Corp is planning to file an application to set up a securities firm in China as part of its strategy to expand into the country's burgeoning financial services market, Bloomberg News reported here on Monday, citing people familiar with the matter.Bank of America is expected to seek regulatory approval early next year, the report added, and is also planning to su...Read More