Mining-union leader Napoleon Gomez Urrutia, who fled to Canada more than a decade ago after being accused of embezzlement, is on the short list for a senate seat in Mexico with presidential front-runner Andres Manuel Lopez Obrador's party Morena.In an election cycle filled with colorful characters and some tough-talking, the nomination of the polemic union rep and ex-fugitive caused some head-scra...Read More
Russia will restrict scrap exports from its Far East region by banning shipments from main ports from late July to January 2019, according to an order from the government.From July 21, scrap exports will only be allowed through nine small ports in its Far East region. Shipments from Vladivostok, Nakhodka and Vanino, key ports for bulk cargo shipments from the region, will be forbidden. The order w...Read More
South Africa's Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL), the precious metal miner target of several lawsuits over mounting deaths at its operations, said Friday it has inked an agreement with Canada's Regulus Resources (TSX-V: REG), and its newly formed subsidiary Aldebaran Resources, to jointly unlock value at the Altar copper-gold project, in Argentina.Under the terms of the deal, Sibanye's whol...Read More
The bill provides all California citizens the right to know what data is being collected about them, for what purpose, and with whom it's being shared.Continue...Read More
Fresh doubt has been cast over a deal reached last year between Centerra Gold (TSX:CG) (OTCMKTS: CAGDF) and the Kyrgyz Republic ending long-dragged disputes, after a government speaker confirmed Friday the parliament will review the settlement in September.According to radio Azattyk, the upcoming revision of the strategic agreement may lead to increased environmental payments for the company.The...Read More
What I'm about to tell you is a true story that highlights just how pathetic the banking system has become.Continue...Read More
Mohamed El-Erian, Allianz chief economic advisor, provides insight to the markets amid trade fears and Federal Reserve interest rate uncertainty.Part 1 (parts 2 & 3 below)Italy has reintroduced the issue of sovereign risk, says Mohamed El-Erian, Allianz chief economic advisor, talking about the banking sector in Europe after Deutsche Bank's U.S. unit failed the Fed's stress test.Part 2It's going t...Read More
China's domestic rebar prices were largely flat on Friday June 29 amid weak demand, despite futures moving higher. Domestic Eastern China (Shanghai): 3,990-4,030 yuan ($602-609) per tonne, up 10 yuan per tonne Northern China (Beijing): 3,870-3,910 yuan per tonne, unchanged Rebar futures rose further on Friday and billet prices also picked up on good demand. Prices in the spot market, however, were...Read More
?>>?Head of The Morgan Report, David Morgan rejoins the show with comments on the PMs sector noting that gold remains a "free lunch" diversification asset."The most negatively correlated asset to the US stock market is gold."The new trade war resembles the Smoot-Hawley Tariff Act of 1930, which ultimately lead to losses in US jobs and exports abroad.88 years later, the US economy has hemorrhaged...Read More
"The president has been clear, with us and with others, he has concerns about the WTO, he thinks there's aspects of it that are not fair, he thinks that China and others haveContinue...Read More
Metal Bulletin proposes to increase the frequency of its assessment of cfr Southeast Asia import prices for steel billet to daily from weekly.This is in response to feedback that a terminal market import price into the Philippines would be a key indicator for the Asian billet sector.Liquidity has been observed to be sufficient for the weekly assessment to be made a daily one. This alteration is de...Read More
"Concerns include material weaknesses in the firm's data capabilities and controls supporting its capital planning process, as well as weaknesses in its approaches and Continue...Read More
European leaders have worked out a deal on immigration that is expected to satisfy the Italian government and calm fears of a potential collapse of Angela Merkel's coalition in Germany.Continue... Read More
In case you're unfamiliar with the 1966 movie The Russians Are Coming!, it's a fun romp about a Russian submarine that Continue...Read More
European stainless steel base prices were unchanged for the fourth week running on Friday June 29 despite a sharp rise in alloy surcharges for July. Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet in Northern Europe was stable at ?,?1,000-1,050 ($1,156-1,214) per tonne delivered on Friday, while the weekly assessment for grade-316 C...Read More
For several months I have been beating the drum saying that there would be a tradable low for the preciousContinue...Read More
The Dow still turned in its third straight weekly loss, thoughThe Dow ended today modestly higher, thanks to a massive post-earnings rally from apparel giant Nike (NKE) -- but the index once again failed to reclaim its 200-day moving average, as an intraday gain of 293 points largely evaporated by the close. A rebound by beaten-down financial stocks also propped up markets, after most major U.S....Read More
Shares of Constellation Brands have gapped lower after earningsThe Dow is trading significantly higher this afternoon, with blue chip Nike (NKE) taking the lead. Three stocks makingnoteworthy moves are drug concern Dermira Inc (NASDAQ:DERM), banking name Wells Fargo & Co (NYSE:WFC), and Corona parent Constellation Brands, Inc. (NYSE:STZ). Below, we will take a closer look at howshares of DERM,...Read More
The fund's upside is being contained at a key technical levelThe financial sector is seeing strength today after the second-round results of the Fed's stress tests. At last check, the Financial Select Sector SPDR Fund (XLF) was up 1% to trade at $26.86. The price action has sparked a flood of options activity, too, and even though the fund is holding below a key technical level, most of the activi...Read More