(Adds detail on Brexit)By David MillikenLONDON, Feb 19 (Reuters) - Bitcoin has failed as a currency measured by standard benchmarks, and is neither a store of value nor a useful way to buy things, Bank of England Governor Mark Carney said on Monday."It has pretty much failed thus far on ... the traditional aspects of money. It is not a store of value because it is all over the map. Nobody us...Read More
2:30pm - Kin Group slumps as share suspension loomsKin Group Plc (LON:KIN) shares sunk as the cash-shell confirmed its shares are set to be suspended in March.The team running the cash-shell has been checking out an array of potential acquisitions including messaging apps, online property services, VR, eSports and blockchain technology - and it says talks are ongoing - but, it won't have a deal in...Read More
* Prokhorov sells 6 pct of Rusal to Vekselberg and partners* Sale will reduce Prokhorov's stake in Rusal to zero* Vekselberg, partners to boost stake in Rusal to 26.5 pct (Adds details, context)By Polina DevittMOSCOW, Feb 19 (Reuters) - Russian businessman Mikhail Prokhorov has agreed to sell a 6 percent stake in Russian aluminium giant Rusal to a consortium of investors led by billionaire Viktor...Read More
LONDON, Feb 19 (Reuters) - Bitcoin has failed as a currency measured by the traditional benchmarks, and is neither a store of value nor a useful way to buy things, Bank of England Governor Mark Carney said on Monday."It has pretty much failed thus far on ... the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange,&quo...Read More
Feb 20 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,941.60 37.60 NZX 50**8,115.25 -10.060DJIA**25,219.3819.01 NIKKEI**22,149.21428.96Nasdaq**7,239.465-16.965 FTSE**7,247.66 -47.04S&P 500** 2,732.22 1.02Hang Seng** 31,115.43599.83SPI 200 Fut 5,864.00 -39.00STI** 3,487.88 44.37SSEC**3,199.48 14.52 KOSPI** 2,442.82 20.99------------------------------------------------...Read More
LONDON, Feb 19 (Reuters) - Successful leaders need to show humility and empathy among other virtues to win the trust of citizens who see globalisation as creating inequality and low wages, Bank of England Governor Mark Carney said on Monday."While you should always marshal your facts, you must engage people's intuitions and win their trust in order to convince them. Do this through empathy,&q...Read More
MOSCOW, Feb 19 (Reuters) - Russian businessman Mikhail Prokhorov has agreed to sell a 6 percent stake in Russian aluminium giant Rusal to a consortium of investors led by billionaire Viktor Vekselberg and his partners, the consortium said on Monday.After the deal, Vekselberg and his partners will hold 26.5 percent of Rusal, the consortium said. (Reporting by Polina Devitt; editing by Adrian Croft...Read More
Studies recently carried out by Macquarie University for Shefa Yamim (LON:SEFA), the Israeli gemstone company have provided a clearer understanding of the geology of Mount Carmel, the area in which Shefa Yamim has been able to find a suite of gemstones, including natural moissanite and sapphire.Professor Bill Griffin, Professor of Geochemistry, says the existence of large quantities of moissanite,...Read More
The US dollar is set to descend into the month of May, before we see any kind of major support fundamentally.Inflationary factors that seem to be surfacing are putting pressure on the Fed to raise interest rates as a consequence.The CPI is a lot stronger than anticipated, and we are seeing more inflationary talk hit the markets, all of which is extremely bullish for gold. October 10, 2017 Report C...Read More
• Subdued USD price-action fails to provide fresh impetus. • Rising equities further denting safe-haven demand. Having faded an early Asian session spike to an intraday high level of $1351.40, gold entered a consolidation phase and is currently placed at the lower end of its daily trading range. The US Dollar wavered between tepid gains/mi...Read More
* De Guindos chosen after Irish rival withdrew* Move increases chances for Germany's Weidmann to replace Draghi* Spain has had no representative at ECB since 2012 (adds De Guindos quotes)By Jan Strupczewski and Francesco GuarascioBRUSSELS, Feb 19 (Reuters) - Euro zone finance ministers on Monday chose Spanish Economy Minister Luis de Guindos to succeed European Central Bank Vice President Vitor Co...Read More
MOSCOW, Feb 19 (Reuters) - Russian businessman Mikhail Prokhorov has agreed to sell a 6 percent stake in Russian aluminium giant Rusal to a consortium of investors led by billionaire Viktor Vekselberg and his partners, the consortium said on Monday.The sale will close a chapter at the world's second largest aluminium producer. Prokhorov's purchase of a stake in Rusal triggered a long-running battl...Read More
BOGOTA, Feb 19 (Reuters) - Colombian electricity company Celsia said on Monday it raised 1.47 trillion pesos ($515.2 million) during a share issue, funds it will use to increase its stake in another local company and to reduce debt levels.Celsia issued 330 million shares at 4,480 pesos each after receiving demands for more than 2 trillion pesos.About half of the money will be used to buy an additi...Read More
The UK banking sector reporting season kicks off in earnest on Tuesday with full-year results due from global giant HSBC PLC (LON:HSBA), ahead of numbers from Barclays PLC (LON:BARC), Lloyds Banking Group PLC (LON:LLOY), and Royal Bank of Scotland PLC (LON:RBS) later this week.While it may be listed in the UK, HSBC is far from a UK operation, with 70% of its profits coming from Asia.HSBC's reporte...Read More
MOSCOW/LONDON, Feb 16 (Reuters) - A power struggle over Norilsk Nickel (Nornickel) resurfaced on Friday as billionaire Vladimir Potanin offered to buy Roman Abramovich's stake in the mining group, and a third businessman - Oleg Deripaska - tried to block the deal.The fight between the billionaires revives a long-running battle for control of Nornickel, a $33 billion mining company, which competes...Read More
* Graphic: World FX rates in 2018 * Graphic: Trade-weighted sterling since Brexit vote (Updates prices)By Jemima KellyLONDON, Feb 19 (Reuters) - Sterling edged lower against the dollar and euro on Monday, holding off 10-day highs hit last week, as traders awaited key wages data due later this week for clues to the pace of monetary tightening from the Bank of England. Markets have moved to price in...Read More
(Kitco News)- Although the silver market has struggled to find momentumsince the start of 2018, one investment firm is not giving up on the whitemetal.In a recent report, Maxwell Gold, director of investmentstrategy and research at ETF Securities, said that he still expects silver tooutperform gold this years, as investors adjust to growing industrial demanddue to renewed global economic growth.Th...Read More
BRASILIA, Feb 19 (Reuters) - Eunicio Oliveira, the head of Brazil's Senate, said on Monday that the federal government's military intervention in Rio de Janeiro would, by the rules of the country's constitution, block any vote on pension reform or any other measure requiring a constitutional amendment. President Michel Temer last week ordered Brazil's army to take command of all security forces in...Read More
By Bruno FederowskiSAO PAULO, Feb 19 (Reuters) - Brazilian stocks rose on Monday on thin trading volumes following a heavy batch of corporate updates.The benchmark Bovespa stock index rose 0.3 percent, supported by shares of state-controlled oil company Petr??leo Brasileiro SA on the heels of rising crude prices.Shares in electronics and appliance retailer Via Varejo SA rose 1.1 percent following...Read More
BRUSSELS, Feb 19 (Reuters) - Spanish Economy Minister Luis de Guindos said he would defend the independence of the European Central Bank after being chosen as its new Vice President from June by euro zone ministers."I have been a minister, but to be a minister is something that does not limit the defence that I make on the independence of the European Central Bank. I will defend the independe...Read More