If you don't know the name Elon Musk, you've been living under a rock.The incredibly forward-thinking entrepreneur, who essentially forced all the major automakers to embrace electric vehicles or die, is the kind of guy who people either love or despise.He also brought reusable rockets to the mainstream and recently got early approval to build an underground transportation system that'll take comm...Read More
LONDON, June 21 (Reuters) - The Bank of England kept rates on hold on Thursday but its chief economist unexpectedly joined the minority of policymakers calling for a rate rise now, in a move likely to bolster market expectations of an imminent hike.The central bank also set out new guidance on when it might start to sell down its 435 billion pounds of British government bonds, saying this could co...Read More
WELLINGTON (Reuters) - The European Union is ready to engage with the United States to solve a trade row triggered by its decision to impose tariffs on European metals, E.U. Trade Commissioner Cecilia Malmstrom said on Thursday.Describing the U.S. tariffs as “illegal” and contravening World Trade Organization (WTO) rules, Malmstrom said there was no choice but to take retaliatory actio...Read More
NEW YORK (Reuters) - U.S. stocks dipped on Thursday as a U.S. Supreme Court ruling on state sales tax collection pulled Amazon and other online retailers lower while industrials continued to falter on concerns over trade war concerns.Amazon dropped as much as 1.9 percent after the ruling, which allows states to force online retailers to collect sales taxes, before paring losses to trade down 0.9 p...Read More
NEW YORK (Reuters) - Stocks around the world fell on Thursday and the U.S. dollar slipped from a peak as investors flocked to bonds after weak economic data and on worries about a U.S.-China trade war.Oil futures were lower before an OPEC meeting expected to increase the world’s supply of crude and after a report of a large stockpile draw in the United States. [O/R]The dollar fell from an 11...Read More
OTTAWA (Reuters) - Canada is discussing changes to a multibillion-dollar fighter jet procurement process that could make it harder for a U.S. company to win the order as trade relations between the neighbors sour, two sources with direct knowledge of the discussions said.Canada is considering whether to penalize companies from countries that have caused it economic damage, the sources said on Wedn...Read More
European buyers of hot-rolled coil (HRC) have been holding back from new deals ahead of the European Commission ruling on safeguarding measures for steel imports, sources told Metal Bulletin.The EC is expected to impose preliminary safeguarding measures on steel imports in early July.The EC opened an investigation in late March, in an attempt to prevent steel shipments being redirected to the...Read More
The United States has agreed to exemptions from Section 232 tariffs for some steel products from five countries.US Secretary of Commerce Wilbur Ross said the Bureau of Industry and Security had begun production exclusions on steel imports based on a "balanced approach that accounts for the needs of downstream industries while also recognizing the threatened impairment of national security caused b...Read More
June 21, 2018 (Investorideas.com Newswire) Precious metals expert Michael Ballanger explains why he believes gold is bottoming.Today's missive is going to be brief as there are no need for words when you have the chart below indicating every major low in gold was accompanied by an RSI reading below 30. GLD (the physical gold ETF) is sporting a 27.46 RSI this morning and while we have seen readings...Read More
June 21, 2018 (Investorideas.com Newswire) Sector expert Adrian Day looked at two 'favorite' junior explorers he considers 'good buys at current levels.'Lara Exploration Ltd. (LRA:TSX.V) (0.59) released some very strong results from channel sampling at a new polymetallic property in Peru. The Puituco Project returned 4.6% zinc, 4.9% lead and 27 grams per ton over 42.6 meters. These results make it...Read More
WASHINGTON (Reuters) - Republicans in the U.S. House of Representatives have decided to delay a vote on one of the immigration bills they had planned to take up on Thursday, NBC News reported.The vote on the so-called compromise Republican plan was pushed back to Friday to allow members additional time to review it, NBC reported.Reporting by Tim Ahmann Disclaimer: The views expressed in this arti...Read More
June 21, 2018 (Investorideas.com Newswire) A BMO Capital Markets report outlined the pending arrangement between the two entities.In a June 18 research note, Andrew Kaip, an analyst with BMO Capital Markets, reported that Osisko Gold Royalties Ltd. (OR:TSX; OR:NYSE) acquired a silver stream from Falco Resources on its Horne 5 project in Quebec for CA$180 million (CA$180M). "The silver stream has a...Read More
June 21, 2018 (Investorideas.com Newswire) Drilling was completed on two holes at a site in British Columbia's Golden Triangle.Pretium Resources Inc. (PVG:TSX; PVG:NYSE) recently reported the results of underground exploration drilling east from the Valley of the Kings. Two holes over 1,500 meters in depth intersected Brucejack-style mineralization. Proximity to porphyry-style mineralization at de...Read More
ROME (Reuters) - Italy appeared to relent on Thursday after at first refusing to accept 226 migrants on board a German charity rescue ship, saying later in the day it would take them in but would impound the vessel.Anti-immigrant interior minister Matteo Salvini initially said the Dutch-flagged ship Lifeline should take the people it plucked from the Mediterranean to the Netherlands and not Italy....Read More
China's domestic hot-rolled coil prices edged up on Thursday June 21 amid early gains in the futures market.Domestic Eastern China (Shanghai): 4,270-4,290 yuan ($659-662) per tonne, narrowed upward by 10 yuan per tonne Northern China (Tianjin): 4,220-4,240 yuan per tonne, up 10-20 yuan per tonne HRC futures rose to a high of 3,932 yuan per tonne in the first hour of trading, which improved sentime...Read More
LONDON (Reuters) - Prime Minister Theresa May said on Thursday a report that she had questioned the United Kingdom’s status as a “tier one” military power was incorrect.The Financial Times had said May told Defence Secretary Gavin Williamson that he needed to rethink the capabilities needed to be a modern military force and focus more on Britain’s ability to tackle any cybe...Read More
The latest news and price moves to start the Asian day on Friday June 22.Zinc prices on the London Metal Exchange fell by more than 2% by the close of trading on Thursday June 21, while sister metal lead struggled to find support amid an intensified trade war between China and the United States. Read more in our live futures report.Here are how prices looked at the close of trading:The L...Read More
Export prices for Turkish rebar dipped slightly for the week ended Thursday June 21 amid fresh bookings.Rebar offers varied within a range of $550-560 per tonne fob on an actual weight basis, unchanged week on week.A total of 50,000 tonnes was reported sold to...Read More
NEW YORK (Reuters) - Stocks around the world fell on Thursday and the U.S. dollar slipped from a peak as investors flocked to bonds after weak economic data and on worries about a U.S.-China trade war.Oil futures were lower before an OPEC meeting expected to increase the world’s supply of crude and after a report of a large stockpile draw in the United States. [O/R]The dollar fell from an 11...Read More
Redefined Terms and Absurd TargetsAt one time, the Federal Reserve's sole mandate was to maintain stable prices and to "fight inflation." To the Fed, the financial press, and most everyone else "inflation" means rising prices instead of its original and true definition as an increase in the money supply. Rising prices are a consequence - a very painful consequence - of money printing. Fed Cha...Read More