BERLIN, Feb 23 (Reuters) - Volkswagen said full-year profit nearly doubled last year, helped by record sales of luxury Audi and Porsche models and cost cuts at its VW mass-market brand.Group operating profit after special items jumped to 13.8 billion euros from 7.1 billion a year ago, VW said on Friday, below the bottom-end forecast of 13.9 billion in a Reuters poll. But VW raised the provisions r...Read More
NEW YORK, Feb 23 (Reuters) - Charles Schwab Corp and several of its mutual funds persuaded a U.S. appeals court on Friday to revive several of its claims against large banks they accused of manipulating the Libor benchmark interest rate.The 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge erred in dismissing various of Schwab's federal securities and California state law cla...Read More
Berenberg weighed in on banks today, saying several large-cap financial shares are overvalued. The brokerage firm specifically called out Goldman Sachs Group Inc (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), and Wells Fargo & Co (NYSE:WFC) as the best stocks to short, considering "structural headwinds far outweigh" strong first-quarter revenue numbers, and that "downgrades will recommence as the rat...Read More
RIGA, Feb 23 (Reuters) - The Latvian central bank said on Friday it had loaned 297.2 million euros ($365.62 million) in emergency assistance this week to troubled lender ABLV.U.S. authorities have accused ABLV of engaging in large-scale money laundering for Russian clients, which the bank denies. Fearing U.S. sanctions, depositors have withdrawn around 600 million euros from the bank, forcing the...Read More
By Kate DuguidNEW YORK, Feb 23 (Reuters) - Bank of America has raised its expected yield on the U.S. government benchmark note for this year to 3.25 percent, driven by increased economic growth and a rapidly expanding supply of U.S. debt. President Donald Trump's tax overhaul and budget deal are expected to add more than $1.5 billion to the federal deficit. Add that to the Federal Reserve's plan t...Read More
Shipping stock United Parcel Service, Inc. (NYSE:UPS) was downgraded to "hold" from "buy" at Deutsche Bank this morning, with the brokerage firm citing an unclear relationship with Amazon. This comes just a day after the company announced the launch of its new electric delivery van initiative. In response, the shares of UPS have fallen 0.3%, to $104.81 in early trading.From a broader perspective,...Read More
ATHENS, Feb 23 (Reuters) - Greece cancelled the transfer of minority stakes in utilities Athens Water and Thessaloniki Water to the country's privatisations agency HRADF, the finance ministry said on Friday, meaning the state will retain majority stakes. The two utilities are on the government's state divestments agenda this year. Athens plans to sell minority stakes in both firms to help pay down...Read More
TokenCommunities' Alex Lightman looks back on his trip last week to the d10e conference in Silicon Valley in which he gave a keynote speech.''What I told people is that they're in the right place, at the right time ... this is the perfect time to be involved in the crypto industry as an investor, adviser .. now is the time to get in''.''Everybody was optimistic, I didn't meet a single person who w...Read More
Fast food stock Wendy's Company (NASDAQ:WEN) will try to extend its upward momentum today after the shares jumped 4.1% yesterday on a well-received quarterly update. WEN is facing off against a round of mixed analyst attention, though. While BMO upped its price target on the stock to $20 from $17 this morning, SunTrust Robinson trimmed its target to $21 from $22. Of course, this latter mark still...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy. Since...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy. Since...Read More
Stock futures are pointed higher to close out the week, as investor anxiety from the Fed minutes dies down. The central bank will remain in focus today, though; several Fed speakers will take the mic, as a warm-up of sorts to new Fed Chair Jerome Powell's big testimony next week. With bond yields retreating again, Dow Jones Industrial Average (DJI) futures are more than 100 points above fair val...Read More
Tahoe Resources (TSX:THO)(NYSE:TAHO) lost $18 million, or 6 cents per share, in the fourth quarter of 2017 due to the ongoing shutdown of its flagship Escobal silver mine, in Guatemala.The Reno, Nevada-based company said adjusted loss was $17.7 million, which dramatically contrast with the $18.4 million profit logged a year ago.Net earnings for the whole year were also affected, with the miner po...Read More
Tahoe Resources (TSX:THO)(NYSE:TAHO) lost $18 million, or 6 cents per share, in the fourth quarter of 2017 due to the ongoing shutdown of its flagship Escobal silver mine, in Guatemala.The Reno, Nevada-based company said adjusted loss was $17.7 million, which dramatically contrast with the $18.4 million profit logged a year ago.Net earnings for the whole year were also affected, with the miner po...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.Based...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.Based...Read More
Jerry Randall, chief executive of Venture Life Group Plc (LON:VLG) tells Proactive they developed some new products last year which will be launching into the market this year.''We're also looking to acquire more products ... we've successfully acquired a number of products over the year and we're now at the stage where we've got a platform that has good operating leverage .... so new products and...Read More
(Kitco News) - Goldand silver pricesare trading near steady levels in a generally quietermarketplace early Friday morning. Potential buyers of the safe-haven metals aretimid at present amid the recent lack of risk aversion among traders andinvestors. April Comex gold futures were last down $0.60 an ounce at $1,332.10.March Comex silver was last down $0.017 at $16.57 an ounce.Worldstock markets wer...Read More
(Kitco News) - Gold and silver prices are trading near steady levels in a generally quieter marketplace early Friday morning. Potential buyers of the safe-haven metals are timid at present amid the recent lack of risk aversion among traders and investors. April Comex gold futures were last down $0.60 an ounce at $1,332.10. March Comex silver was last down $0.017 at $16.57 an ounce.World stock mark...Read More
Tahoe Resources Inc. (TSX: THO; NYSE: TAHO), which has been dealing with a shutdown of the giant Escobal silver mine in Guatemala over a mining-license issue, posted a loss in the fourth quarter of $18 million, or 6 cents per share. This compares to 0.3 million, or nil, in the same period a year ago. The adjusted loss was $17.7 million, a turnaround from an $18.4 million profit a year ago. F...Read More