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) - Russia's Nornickel, theworld's largest producer of palladium and high-grade nickel and a majorproducer of platinum and copper, announced today that in 9M 2021, its totalnickel output decreased 23% y-o-...Read More
(Reuters) - Shares of Novavax Inc fell 20% after a report from Politico said the company faces significant hurdles in proving it can manufacture its experimental COVID-19 vaccine that meets regulators' quality standards, resulting in production delays.The methods Novavax used to test the purity of its vaccine have fallen short of U.S. regulators' standards, according to the Politico report, citing...Read More
Oct 20 (Reuters) - The U.S. Forest Service on Wednesdayproposed banning mining in Minnesota's Boundary Waters regionfor 20 years, a step that would block Antofagasta Plc's Twin Metals copper and nickel mine project.The announcement, which reverses a decision by formerPresident Donald Trump, sets off a review process for how miningcould affect the region, a popular outdoor recreation area.While tha...Read More
Oct 20 (Reuters) - U.S. logistics technology firm Flock Freight said on Wednesday it had reached a valuation of more than $1 billion, after raising $215 million in a funding round led by SoftBank Vision Fund 2.New and existing investors including Susquehanna Private Equity Investments, Eden Global Partners, SignalFire and Alphabet Inc's (GOOGL.O) GV also participated in the funding round, the co...Read More
NEW YORK, Oct 20 (Reuters) - Oil prices edged higher on Wednesday, rebounding from early losses after U.S. crude stockpiles unexpectedly fell and inventories at the nation's largest storage site hit their lowest level in three years.Brent crude futures rose 26 cents, or 0.3%, to $85.35 a barrel as of 10:48 a.m. EDT (1448 GMT), lingering close to multi-year highs.November U.S. West Texas Intermedia...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 aresolidly higher near midday Wednesday. Concerns about rising inflation areprompting buying interest in the hard asset metals. Also, the technicalpostures for both precious me...Read More
HONG KONG (Reuters) -China Evergrande Group said on Wednesday a deal to sell a 50.1% stake in its property services unit has fallen through, delivering a blow to embattled developer's hopes of avoiding a potentially disruptive default.If it had gone through, the deal with a unit of Hopson Development to sell half of Evergrande Property Services would have been worth HK$20.04 billion ($2.58 billion...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 prices have pushed to new all-time highs tradingwell above $65,000 an ounce. According to some analysts, the rally in thedigital currency was spurred by the launch of the first Bitcoin ETF in t...Read More
LONDON (Reuters) - Bitcoin hovered just below its record highs on Wednesday and the first U.S. bitcoin futures-based exchange-traded fund (ETF) looked set to open firmer after surging on its debut on Tuesday.The world's leading cryptocurrency was at $64,257 at 1236 GMT, modestly higher on the day and within a short jump of the all-time high of $64,895.22 it hit on April 14 this year.It reached as...Read More
BEIJING (Reuters) - China's commodities markets tumbled on Wednesday, led by sharp falls in thermal coal prices, after the state planner said it was considering intervention to cool record prices of the fuel that is vital to power the world's second biggest economy.The slide in China had a knock-on effect in global markets, where prices of base metals used in manufacturing and construction, such a...Read More
Mr. David TerryreportsGENESIS METALS COMMENCES EXPLORATION WORK AT OCTOBER GOLD PROJECT, ONTARIOGenesis Metals Corp. has launched a multifaceted exploration program at its 100-per-cent-owned 26,430-hectare (264.3-square-kilometre) road-accessible October gold project in the Swayze greenstone belt, western Abitibi, Ontario.In order to advance exploration of the large, prospective and strategically...Read More
ROME (Reuters) -Italy's UniCredit, Intesa Sanpaolo and smaller Banca Ifis said on Wednesday they had joined the U.N. Net-Zero Banking Alliance (NZBA), a group of banks committed to reducing their carbon financing and investment portfolio by 2050.The alliance, launched in April, has almost 80 members from 35 countries, including Bank of America, Citigroup Morgan Stanley and JPMorgan. It has $54 tri...Read More
(Reuters) - U.S. online holiday spending is expected to grow at its slowest pace in at least eight years, as product shortages, higher prices and lingering pandemic-related uncertainties threaten to put a strain on the shopping season.Adobe Analytics forecast an average 10% growth or $207 billion in online sales in November and December, compared with a record 33% jump in 2020 when people chose to...Read More
WASHINGTON (Reuters) - U.S. Vice President Kamala Harris and Labor Secretary Marty Walsh on Wednesday will announce measures aimed at making it easier for unions to organize the country's more than 2 million federal workers.The moves will include directing federal agencies to inform job applicants and new employees about unions during the hiring and onboarding process. Unions will also be allowed...Read More
MILAN (Reuters) - Italy's Falck family of industrial magnates will receive 1.5 billion euros ($1.8 billion) from the sale of its controlling stake in Falck Renewables to a JPMorgan-owned infrastructure fund, the company said on Wednesday.The Falcks, who built their fortune in steel over the last century before switching to renewables in the late 1990s, are selling due to the investments and know-h...Read More
OTTAWA, Oct 20 (Reuters) - Canada's annual inflation rate accelerated to an 18-year-high in September, driven by rising transportation, shelter and food prices, data showed on Wednesday, putting the focus on the Bank of Canada ahead of a rate decision next week.Inflation increased to 4.4% in September, beating the average analyst estimate of 4.3%, to reach its fastest clip since February 2003, Sta...Read More
(Reuters) - Nasdaq Inc on Wednesday reported a third-quarter profit that topped Wall Street estimates, helped by strong demand for its investment-related products and a jump in the number of initial public offerings.While the transatlantic exchange operator is best known for its bourses, Nasdaq has tried to push into the anti-money laundering software sector and reposition itself as a leading fina...Read More
Oct 20 (Reuters) - Futures for Canada's main stock index edged higher on Wednesday, boosted by stronger gold prices, while investors awaited inflation data later in the day for cues on the domestic economy.December futures on the SP/TSX index were up 0.1% at 7:00 a.m. ET.Spot gold gained 0.5% buoyed by a softer dollar, while oil prices dropped after the Chinese government stepped up efforts to tam...Read More
ISTANBUL (Reuters) - President Tayyip Erdogan has wheeled a trolley around one of the new grocery stores he hopes will bring Turkey's "exorbitant" prices under control, but his unorthodox effort to combat inflation is failing to impress shoppers and retailers.Accompanied by his wife and daughter, Erdogan went shopping near his Istanbul home earlier this month, telling assembled media that the expa...Read More
NEW YORK (Reuters) - Cboe Global Markets said on Wednesday it was buying Eris Digital Holdings (ErisX), a spot and derivatives exchange for digital assets, as the exchange operator seeks to become a major player in the cryptocurrency industry.ErisX, which also runs a regulated clearing house, will be renamed Cboe Digital.Terms of the deal were not disclosed. It is expected to close in the first ha...Read More