(Reuters) - Toys ‘R’ Us Inc, the iconic toy retailer, will shutter or sell its stores in the United States after failing to find a buyer or reach a deal to restructure billions in debt, putting at risk about 30,000 jobs.The closure is a blow to hundreds of toy makers that sell their products at the chain’s U.S. stores, including Barbie maker Mattel Inc, board game company Hasbro...Read More
(IDEX Online) - Gem Diamonds Limited has recovered a 169 carat, top white color Type IIa diamond from the Let??eng mine in Lesotho (pictured above, the highest dollar per carat kimberlite diamond mine in the world. It is the seventh diamond of over 100 carats recovered so far this year. Last week, the firm announced the recovery of a 152-carat stone from the same mine. Read More
(Kitco News) - Gold prices appear to be struggling Thursday , in part because the metal is seeing little love from the White House’s new national economic advisor Larry Kudlow.In an interview with CNBC Wednesday, Kudlow said that he supports a strong U.S. dollar policy adding, “I would buy King Dollar and I would sell gold.”Looking at the U.S. dollar, Kudlow said that a great cou...Read More
RAPAPORT... Pandora has hired Karl Walsh as its senior vice president ofglobal e-commerce in an effort to improve online sales and customer experience. Walsh (pictured), who has previously worked atAccenture and McKinsey, will be responsible for leading the newly formede-commerce department, part of a strategy to boost the brand's omni-channelpresence. He will report to CEO Anders Colding-Friis. "...Read More
Oil inches up after earlier losses, buoyed by stocks rise Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is no...Read More
Major international mining companies operating in the Democratic Republic of Congo (DRC) have resigned from the country's Chamber of Commerce ahead of a month of talks with the government to resolve their dispute over the new mining code. A legal and technical team representing Randgold Resources, AngloGold Ashanti, Glencore PLC, Ivanhoe Mines, Gold Mountain International/Zijin Mining Group, MMG (...Read More
SHANGHAI, Mar 15 (SMM) – Nonferrous metals slid across the board today as zinc led losses with a drop of more than 1%. Nickel fell 0.8%, tin dipped 0.7% and copper edged down.The ferrous complex saw some gains today as coking coal rose 1.6%. Rebar, hot-rolled coil, and iron ore gained over 1%, and coke inched up.Copper: The SHFE 1805 contract slumped after it reached a high of 52,400 yuan/mt...Read More
SHANGHAI, Mar 15 (SMM) – Nonferrous metals slid across the board today as zinc led losses with a drop of more than 1%. Nickel fell 0.8%, tin dipped 0.7% and copper edged down.The ferrous complex saw some gains today as coking coal rose 1.6%. Rebar, hot-rolled coil, and iron ore gained over 1%, and coke inched up.Copper: The SHFE 1805 contract slumped after it reached a high of 52,400 yuan/mt...Read More
SHANGHAI, Mar 15 (SMM) – Nonferrous metals slid across the board today as zinc led losses with a drop of more than 1%. Nickel fell 0.8%, tin dipped 0.7% and copper edged down.The ferrous complex saw some gains today as coking coal rose 1.6%. Rebar, hot-rolled coil, and iron ore gained over 1%, and coke inched up.Copper: The SHFE 1805 contract slumped after it reached a high of 52,400 yuan/mt...Read More
Pub chain JD Wetherspoon (LON:JDW) is set to reveal it had a solid first half when it publishes its interim results on Friday.In a trading update in January, the company said like-for-like sales rose by 6% and total sales increased 4.3% in the first six months of the year.Thanks to the robust sales growth, Wetherspoon said the year-to-date underlying profit before tax was "slightly ahead" of its e...Read More
(Reuters) - U.S. stock index futures pointed to a flat opening for Wall Street on Thursday as fears that President Donald Trump’s decision to impose fresh tariffs on China may escalate into a trade war weighed on the markets.Dow e-minis 1YMc1 were up only 21 points, or 0.08 percent. S&P 500 e-minis ESc1 were down 1 points while Nasdaq 100 e-minis NQc1 fell 4.5 points.The main Wall Street...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was a slip to 230,000 from 231,000 last week. Actual was a slip to 226,000. Consensus for March Philly Fed Index was a drop to 23.3 from 25.8 in February. Actual was a...Read More
Over the last three consecutive weeks, gold has closed on Friday below the opening price on Monday. Even though there is still one more trading day this week, it seems probable that tomorrow’s closing price will be below Monday’s opening price.After trading to a double top at $1360 during the week of February 12, market forces and investor sentiment have resulted in lower pricing on th...Read More
Turkish steel producers have extended their silence in the deep-sea scrap markets amid weak demand for their finished steel products in both the export and domestic markets, sources said on Thursday March 15.The mills were expected to book more cargoes for April, but they stepped back from the deep-sea market late last week after Section 232 import tariffs were officially signed into effect in the...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session lower and near their daily lows Thursday. Both futures markets were poised to close at two-week low closes today. A stronger U.S. dollar on this day and still-keen investor risk appetite around the globe kept buyers of the safe-haven metals on the sidelines. April Comex gold futures were last down $8.80 an ounce at $1,316.90. M...Read More
SHANGHAI, Mar 15 (SMM) – Norilsk nickel in the Shanghai market was offered at a discount of 400-500 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on the morning of Thursday March 15.Jinchuan nickel was offered at a discount of 100-0 yuan/mt, and Jinchuan nickel plate was offered at 103,100 yuan/mt, SMM learned.As nickel prices remained high, traders sold actively while down...Read More
WASHINGTON/OSLO (Reuters) - U.S. President Donald Trump has bashed international efforts to combat climate change and questioned the scientific consensus that global warming is dangerous and driven by human consumption of fossil fuels.But there is a disconnect between what Trump says at home and what his government does abroad. While attention has been focused on Trump’s rhetoric, State Depa...Read More
The following is a summary of our recent FS Insider podcast, "Danielle DiMartino Booth: Problems at the Fed, More Volatility for the Markets," which can be accessed on our site here or on iTunes here.Danielle DiMartino Booth, founder of Money Strong and author of Fed Up: An Insider's Take on Why the Federal Reserve Is Bad for America, warns that the US is more highly levered today than it was in 2...Read More
SHANGHAI, Mar 15 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the euro dipped, the US dollar index rebounded and hovered around 89.7 overnight while most base metals climbed up. The growing number of cancelled warrants drove LME nickel to hit a two-week high. LME and SHFE zinc dropped about 2% as inventories grew.China’s tota...Read More
SHANGHAI, Mar 15 (SMM) – Trading remained flat in the Shanghai zinc spot market today as sellers were unwilling to releases cargoes after zinc prices fell.The 0# mainstream zinc traded at 24,710-24,790 yuan/mt, and the 0# common brand zinc traded at a discount of 80-70 yuan/mt today, SMM learned.Shuangyan brand traded at a smaller discount of around 30 yuan/mt, and 1# zinc traded at 24,660-2...Read More