(Reuters) - The U.S. Supreme Court on Monday declined to hear Google’s appeal of a lower court’s ruling that narrowed the scope of patents that can be challenged before a federal tribunal whose proceedings have led to the cancellation of many patents.The justices let stand a 2016 federal appeals court ruling against Google, a subsidiary of Alphabet Inc (GOOGL.O), which had successfully...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Monday April 30.Base metal prices on the London Metal Exchange were broadly up during Asian morning trading on Monday, following the release of positive Chinese economic data and an easing in geopolitical tensions.The Shanghai Futures Exchange is closed on April 30 and May 1 due to public...Read More
You need to own gold; and you need to own shares in companies that find and mine it. I lay out seven reasons below, in what I'm calling the "Seven Pillars of Gold."Each "pillar" reinforces the argument for holding gold.There's some overlap between each of the pillars. In fact, it's fair to say that many of the reasons to own gold actually segue back and forth, bumping into each other. But it's pos...Read More
LONDON (Reuters) - Music apps such as Spotify and multiplayer online games might give central bankers just as a good a sense of what’s going on in the economy as traditional surveys, the chief economist at the Bank of England says.Andy Haldane said the rise of digital leisure might help policymakers crack the problem of understanding the mood of consumers, whose spending drives the economy.H...Read More
We're all familiar with the so-called "run on the bank." It usually begins quietly with just a few depositors getting nervous about the solvency of the bank.They line up to get their cash out before the bank closes its doors. Soon the word spreads and the line gets longer. The bank projects an air of confidence and gives cash to depositors who request it as long as they can, but pretty soon the ca...Read More
(Reuters) - U.S. stock indexes were on track to open higher on Monday as strong earnings and a string of mergers lifted spirits, kicking off a busy week for inflation watchers.Shares of oil refiner Andeavor (ANDV.N) jumped 12.2 percent in premarket trading after rival Marathon Petroleum (MPC.N) agreed to buy the company for more than $23 billion. Marathon’s shares were down 7.9 percent.Inves...Read More
About 40% of Baby Boomers plan to move at some point in the future, according to the Demand Institute, a non-profit organization run by The Conference Board and Nielsen.Some have become empty nesters with extra bedrooms and baths they no longer need. They're ready to get on with the next phase of their lives, which includes moving to a smaller, more manageable home.Others will move to smaller home...Read More
(Reuters) - T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N) said on Sunday they had agreed to a $26 billion all-stock deal and believed they could win over skeptical regulators because the merger would create thousands of jobs and help the United States beat China to creating the next generation mobile network.The agreement capped four years of on-and-off talks between the third and fourth largest...Read More
LONDON (Reuters) - Sainsbury’s has agreed to buy Walmart’s Asda for about 7.3 billion pounds ($10 billion) to create Britain’s biggest supermarket group by market share, overtaking long-standing industry leader Tesco.Bringing together Britain’s second- and third-largest supermarket groups could generate the savings and buying power to help them better compete with fast-grow...Read More
Key events details: Gold in Islamic finance and documentation & products standardisation 8th May 2018 14:45 -15:45The session will cover:AAOIFI-World Gold Council Standard – Case for Gold in Islamic FinanceIslamic Gold Products, Gold Trading Centres and the Role of ExchangesNeed for Standardisation of Gold Related Documentation and Product Confirmations Moderator:Ijl...Read More
(Reuters) - Marathon Petroleum Corp said on Monday it would buy rival Andeavor for more than $23 billion, forming a company that would leapfrog Valero Energy Corp as the largest independent U.S. refiner by capacity.Shale oil fields have pushed U.S. crude production to record highs and industry experts argue operations that have capacity to refine light crude like Andeavor will be better positioned...Read More
* Euro zone bond yields up 1-2 bps on day* German Bund yields set to end April 9 bps higher* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates throughout)By Dhara RanasingheLONDON, April 30 (Reuters) - Government bond yields in the euro area nudged up on Monday, reversing some of the sharp falls seen late last week, with bigger rises limited by further signs that inflation in the b...Read More
LONDON (Reuters) - Oil fell on Monday after a rising rig count in the United States suggested the shale boom is showing no signs of slowing, but prices remain near their highest in more than three years and are set for a second straight month of gains.The prospect of the United States reimposing sanctions on Iran and OPEC’s continued discipline in withholding output have kept the market well...Read More
(Reuters) - Allergan Plc’s (AGN.N) quarterly profit topped Wall Street forecasts, driven by higher sales of its medical aesthetics products including blockbuster wrinkle treatment Botox.Allergan said on Monday revenue from the aesthetics unit, which also sells products that can melt excess body fat, rose nearly 30 percent in the three months ended March 31.The company’s revenue overall...Read More
Geoff Rameaux has left warehousing and logistics firm Access World after almost two decades with the company.Rameaux, who was commercial director, left the company on Friday April 27 and plans to take some time off before his next move. He...Read More
Base metals on the London Metal Exchange were mixed at the close of trading on Monday April 30, with nickel dropping 1.5% from Friday. Nickel recorded a high-low range of $270, reaching a high of $13,940 per tonne during morning trading. With consolidation now firmly in place, nickel's three-month price is continuing to slide lower below the $14,000 per tonne support level. Despite this, sentiment...Read More
After years of paying down debt and restructuring its operations, a new question mark hangs over Toronto-based Sherritt International Corp: whether the leadership change in Cuba will affect its extensive nickel, cobalt and energy operations located within the tropical island nation.Sherritt refers to itself as Cuba’s largest foreign investor, and derives most of its revenues from operations...Read More
Comex copper prices bounced-back from a multi-week low on Monday April 30 morning in the US, with investors preventing another wave of selling despite the dollar climbing once again.Copper for July settlement on the Comex division of the New York Mercantile Exchange inched up 1.15 cents or 0.4% to $3.0810 per lb. On Friday, the contract fell to its lowest point since April 6 on a bout of technical...Read More
Base metals prices on the London Metal Exchange were mixed during morning trading on Monday April 30, with aluminium and nickel continuing to dip from recent highs. Aluminium's three-month price is consolidating close to the $2,200-per-tonne mark, with prices continuing to fall from a closing high of $2,550 per tonne on April 18. News of a potential escalation in US-Russia sanctions continues to i...Read More
• A goodish pickup in the USD demand weighs heavily on the commodity. • Easing geopolitical tension does little to support safe-haven demand. Gold continued losing ground through the early NA session and is currently placed at fresh 6-week lows, around the $1312-11 region. After Friday's corrective bounce, resurgent US Dollar demand was seen as on...Read More