(Kitco News)- Negative sentiment continues to build around tech giantApple (Nasdaq: AAPL), and some analysts have warned that slower iPhone sales could havebroader implications on global growth that could benefit safe-haven assets like gold.In a report Tuesday, Hussein Sayed, chief market strategistat FXTM, said the little smartphone had a significant impact on U.S. grossdomestic product growth an...Read More
FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE) will convert three German factories to build electric cars, as Europe’s largest automaker by sales starts mass producing zero-emission vehicles in a major strategy shift following its emissions cheating scandal.The German company said on Wednesday its plant in Emden, which currently builds the VW Passat, would build electric cars from 2022 onwards...Read More
Not even gold's second straight quarterly decline was enough to shake billionaire hedge-fund manager Ray Dalio's confidence in gold.Dalio recommends gold as hedge against rising political risk.Dalio's Bridgewater Associates maintained its holdings in SPDR Gold Shares, the largest bullion-backed ETF, at 3.9 million shares, and its stake in iShares Gold Trust, the second-largest, at 11.3 million sha...Read More
Both retailers raised their full-year forecasts ahead of the holiday seasonMacy's Inc (NYSE:M) reported stronger-than-expected adjusted third-quarter earnings of 27 cents per share on in-line revenue of $5.4 billion. Macy's also said same-store sales grew at a faster-than-anticipated 3.3%, and the department store chain boosted its full-year profit forecast ahead of the holiday season.In reaction,...Read More
Fred Imbert| @foimbertPublished 15 Hours AgoUpdated38 Mins AgoCNBC.com show chapters Need de-escalation with US-China before the market will calm, says Merrill Lynch's Hyzy 11 Hours Ago |05:08 Stocks fell on Wednesday as shares of Apple rolled over and dipped briefly into a bear market before recovering. A decline in bank shares also pressured the broader market.The S&...Read More
Are greater risks stacking up for investors in 2019? In Europe, where Italy is locking horns with the EU and a Brexit deal hangs in the balance, mega-economy Germany has just produced the worst growth in nearly six years. Even if Wall Street can successfully shake off noise from the Old Country, a fresh threat from falling oil prices, along with worries over trade and a Fed misstep may cast long...Read More
LONDON (Reuters) - Global insurance regulators will suspend designating globally systemically important insurers, who are required to hold extra capital, in a victory for companies such as American International Group (AIG.N) and Prudential (PRU.L).The International Association of Insurance Supervisors (IAIS) said it wants to replace the list of “too big to fail” insurers, last publish...Read More
Mr. Dan Stuart of Juggernaut reports JUGGERNAUT REPORTS EXPANSION OF THE DISCOVERY ZONE AT DSM GOLDCREST PROPERTY; CHIP SAMPLES UP TO 56.1 GRAMS PER TONNE GOLD (1.64 OZ/T AU) OVER 1 METER Juggernaut Exploration Ltd. and Goliath Resources Ltd. havereleased channel, chip and grab sample assay results of up to 56.1 grams per tonne gold (1.64 ounces per ton gold) over one meter from the Cadillac trend...Read More
Shares of Tilray and Canopy Growth are in the red after earningsWall Street today is reacting to quarterly results from Canadian marijuana firms Tilray Inc (NASDAQ:TLRY) and Canopy Growth Corp (NYSE:CGC). Both stocks are set for sharp declines at the open, after the companies each posted larger-than-expected losses for the third quarter. Also in focus is cannabinoid therapeutics expert GW Pharmace...Read More
An anonymous director reportsTRIMETALS MINING INC. FILES THIRD QUARTER 2018 FINANCIAL STATEMENTS, MD&A AND ARBITRATION UPDATETrimetals Mining Inc. has released its condensed interim consolidated financial statements for the three and nine months ended Sept. 30, 2018, and the related management's discussion and analysis of financial position and results of operations. In this press release, all...Read More
(Reuters) - Shares of utility PG&E Corp (PCG.N) fell 18 percent on Wednesday after the company warned of liquidity concerns if its equipment was found responsible for starting the Camp wildfire currently raging in California.The company said liabilities related to the wildfires could exceed its recently renewed insurance cover, adding to the severe financial pressure it is already facing.The u...Read More
Oil futures are on track to snap their 12-day skidFutures on the Dow Jones Industrial Average (DJI) are pointing to a strong open, vaulting higher after the consumer price index (CPI) rose 0.3% in October, on par with analyst expectations. The core CPI rose at an annual rate of 2.1%, compared to last month's 2.2% growth. Even plummeting oil pricesappear ready to rebound. At last check, December-d...Read More
WASHINGTON (Reuters) - U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline and rents, pointing to steadily rising inflation that likely will keep the Federal Reserve on track to raise interest rates again next month.The Labor Department said on Wednesday its Consumer Price Index rose 0.3 percent last month after edging up 0.1 percent in September...Read More
BERLIN (Reuters) - The European Union will respond with countermeasures if the United States imposes tariffs on its cars, the bloc’s trade commissioner told Germany’s Die Zeit weekly on Wednesday.“Then we will hit back, we can very quickly put together a long list of countermeasures that conform to World Trade Organisation rules,” Cecilia Malmstrom told the paper, adding th...Read More
LONDON (Reuters) - Oil rose on Wednesday, recouping some of the previous session’s slide, on the growing prospect of OPEC and allied producers cutting output at a meeting next month to prop up the market.Prices rallied toward $67 earlier in the session after Reuters reported OPEC and its partners are discussing a proposal to cut output by up to 1.4 million barrels per day (bpd), a larger fig...Read More
DUBAI/LONDON (Reuters) - OPEC and its partners are discussing a proposal to cut oil output by up to 1.4 million barrels per day (bpd) for 2019, three sources familiar with the issue said, a larger reduction than previously thought to avert a price-sapping oversupply.Worried by a drop in oil prices due to record supply from Saudi Arabia, Russia and the United States, the Organization of the Petrole...Read More
(Kitco News) - Gold pricesare near unchanged and hovering just above $1,200.00 in early U.S. trading Wednesday.The silver market is slightly down and dipped to a nearly three-year lowovernight. Both metals showed minimal price reactions to just-released U.S.inflation data. December gold futures were last up $0.70 an ounce at $1,202.10.December Comex silver was last down $0.017 at $13.96 an ounce....Read More
LONDON (Reuters) - Pfizer lost the final round in a long-running patent battle in Britain on Wednesday after the country’s highest court ruled against it in a case involving its $5 billion-a-year pain drug Lyrica.The Supreme Court decision is a blow for the U.S. drugmaker - which had sought to affirm a secondary medical use patent for the product - and a win for generic drug companies Actavi...Read More
* Italian bond yields at three-week highs* Italy sticks to growth, deficit plans in revamped budget* Sets stage for EU showdown* Core euro zone bond yields down (Adds Italian CDS, updates prices)By Dhara RanasingheLONDON, Nov 14 (Reuters) - Italian bond yields hit three-week highs on Wednesday, widening the gap over top-rated German peers, after Italy re-submitted its 2019 budget to the European C...Read More
LONDON (Reuters) - Prime Minister Theresa May will try to convince senior ministers on Wednesday to accept a draft European Union divorce deal that opponents say threatens both her government and the unity of the United Kingdom.The weakest British leader in a generation, she has to try to get the deal approved by parliament before exiting the bloc on March 29, 2019.Brexit campaigners in May’...Read More