HONG KONG, Oct 13 (Reuters) - (This Oct. 13 story corrects name to Mao Shixing in penultimate paragraph)The United States has overtaken China to account for the largest share of the world's bitcoin mining, data published on Wednesday by Britain's Cambridge Centre for Alternative Finance showed.The figures demonstrate the impact of a crackdown on bitcoin trading and mining launched by China's State...Read More
(Reuters) -Chipmaker GlobalFoundries, owned by Abu Dhabi's sovereign wealth fund Mubadala Investment Co, is aiming for a valuation of about $25 billion in its initial public offering in the United States.The IPO, one of the most hotly anticipated listings, is expected to cap a record year for flotations, after several big names such as Robinhood Markets Inc, Coinbase Global Inc and Roblox Corp cap...Read More
WASHINGTON, Oct 19 (Reuters) - U.S. homebuilding unexpectedly fell in September amid persistent shortages of inputs and labor that are crimping the housing market and overall economic activity.Housing starts dropped 1.6% to a seasonally adjusted annual rate of 1.555 million units last month, the Commerce Department said on Tuesday. Data for August was revised down to a rate of 1.580 million units...Read More
Mr. John Mirko reports ROKMASTER APPOINTS MICHAEL ("MIKE") KORDYSZ AS VICE PRESIDENT BUSINESS DEVELOPMENTRokmaster Resources Corp. has appointed Michael Kordysz to the company in the position of vice-president of business development and strategy. Mr. Kordysz has worked within the mineral exploration and technology industries for over 25 years in senior management positions including the areas of...Read More
MADRID (Reuters) - French solar power group Photosol has hired BNP Paribas to launch a sales process that could be worth at least 500 million euros ($582.9 million), two sources familiar with the matter told Reuters.The company has sent out preliminary information to prospective bidders dubbing the project "POTUS" - a nod to U.S. President Joe Biden and his green agenda - according to a document s...Read More
Oct 19 (Reuters) - Canada's main stock index hit a record high on Tuesday, helped by mining stocks, while the prospect of strong corporate earnings further lifted investor sentiment.At 9:33 a.m. ET (13:33 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 63.41 points, or 0.3%, at 21,048.78. (Reporting by Amal S in Bengaluru) Disclaimer: The views expressed in this article are thos...Read More
BEIJING (Reuters) - China will prevent monopolistic behaviours by internet platform companies and the disorderly expansion of capital, state Xinhua News Agency quoted president Xi Jinping as saying on Tuesday.China will also correct practices that impede fair competition, Xi said, according to the Xinhua report.?EUREURReporting by Yilei Sun and Brenda Goh; Editing by Andrew Heavens Disclaimer: Th...Read More
LONDON (Reuters) -Britain announced nearly 10 billion pounds ($13.72 billion) of private investment in green projects on Tuesday, as Prime Minister Boris Johnson hosted an investment summit in London attended by 200 of the world"s top financiers and executives.The summit marks post-Brexit Britain"s biggest push to woo investors, even leveraging the soft power of drinks with Queen Elizabeth at her...Read More
BENGALURU (Reuters) - Indian shares snapped a seven-session winning streak on Tuesday, dragged down by metal and bank stocks, while the country's top cigarette maker ITC plunged 6% after the government decided to form a group for tobacco tax policy.The NSE Nifty 50 index ended down 0.3% at 18,418.75, while the S&P BSE Sensex dropped 0.1% to 61,716.05. Earlier in the session, the NSE hit a record h...Read More
(Adds details, updates prices)Oct 19 (Reuters) - Euro zone bond yields were steady on Tuesday, stabilising after a sharp sell-off in the bond markets of developed economies in the previous session.Euro area bond yields moved sharply higher on Monday, tracking their British counterparts. Short-dated British yields spiked that day on growing bets that the Bank of England is planning back-to-back int...Read More
LONDON, Oct 19 (Reuters) - World stocks climbed to a one-month high on Tuesday as a rally in technology shares and prospects of more forecast-beating corporate earnings helped counter concerns about elevated inflationary pressures.Oil prices rose but stood below Monday's three-year highs while the worrying trend of flattening global government bond yield curves paused, helping investors recoup som...Read More
LONDON/SINGAPORE, Oct 19 (Reuters) - Bitcoin hit a six-month high and was within striking distance of its all-time peak on Tuesday as traders bet an anticipated listing of a futures-based U.S. exchange-traded fund could herald investment flows into cryptocurrencies.Bitcoin , the world's biggest cryptocurrency, rose as much as 1.5% during the Asia session to $62,991, its highest since mid-April and...Read More
NEW YORK, Oct 19 (Reuters) - The launch of the first bitcoin futures exchange traded fund (ETF) on Tuesday marks a major step toward legitimizing the cryptocurrency, but some ETF investors may face higher costs compared with buying the digital currency itself.Barring any last-minute objection from the U.S. Securities and Exchange Commission, the ProShares Bitcoin Strategy ETF will begin trading on...Read More
BEIJING (Reuters) - As China raced ahead of major rival economies from the COVID-19 induced slump last year, Beijing saw a chance to push through tough measures targeting debt-ridden developers as well as industrial polluters and tech giants.President Xi Jinping's bold reforms are aimed at reducing the economy's reliance on property and debt, channelling more resources into high-tech manufacturing...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 gold market is holding on to solid gains but is seeing little new momentum following disappointing U.S. housing construction data.The U.S. housing sector was a pillar of strength for the U.S. econom...Read More
BENGALURU (Reuters) -SoftBank Group-backed Indian ride-hailing firm Ola is set to lose two top executives, according to an internal memo seen by Reuters, ahead of a potential $1 billion initial public offering.Chief Financial Officer Swayam Saurabh and Chief Operating Officer Gaurav Porwal are leaving the company, according to the memo sent to employees by Chief Executive Officer Bhavish Aggarwal....Read More
Oct 19 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday raised its annual adjusted profit forecast, but stuck to its COVID-19 vaccine sales target of $2.5 billion as it works its way through production challenges that have resulted in delays.The drugmaker had earlier this year faced quality problems at a Baltimore manufacturing facility that produces the single-dose vaccine, resulting in wastage...Read More
(Kitco News) - The demise of the Fed is coming, andwith the collapse of the current monetary system comes the adoption of Bitcoinas the new global reserve currency, said Gareth Soloway, chief marketstrategist of IntheMoneyStocks.com."What I'm actually calling foris a total collapse of the monetary system, actually. So, there will have to bea reset. And I do think that what we're going to go throu...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 pricessolidly higher in early U.S. trading Tuesday, with silver notching a four-weekhigh. A drop in the U.S. dollar index on this day and more bullish near-termchart postures for both...Read More
LONDON, Oct 19 (Reuters) - The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets, while the yuan surged to its highest in four months, benefiting from greenback weakness and a slight easing in property market concerns.A robust start to the U.S. earnings season and hopes that China will be able to contain its property market malaise boosted g...Read More