BERLIN (Reuters) - The two frontrunners to succeed Chancellor Angela Merkel as Christian Democrat (CDU) leader pitched for the support of women in the party on Friday after polling showed that views of Germany’s first female chancellor differed markedly by gender.Whoever wins the contest to succeed her at next month’s party congress will be in pole position to become chancellor of Euro...Read More
The SPY tends to do well after the Fed stands patThe Federal Open Market Committee (FOMC) concluded its two-day policy meeting yesterday, and the Fed's decision to stand pat on rates surprised no one. During the current tightening cycle, the stock market has done well a month after the Fed holds rates steady -- especially compared to after a rate hike -- and several stocks have typically outperfor...Read More
(Reuters) - China's State Administration of Taxation (SAT) is working with other government agencies to carry out tax reductions in a bid to support the private sector, the official Xinhua news agency reported.China's taxation authority will roll out targeted policies such as suggesting the local governments to give private firms a respite for paying taxes, SAT head Wang Jun told Xinhua in an inte...Read More
SOMME VALLEY, France (Reuters) - French President Emmanuel Macron and British Prime Minister Theresa May laid a wreath at a memorial in the Somme valley on Friday, honoring fallen World War One soldiers on the eve of the centenary of the war’s end.The Somme Offensive, waged in 1916, was intended to hasten a victory for the allies against the German empire, but after four months of trench war...Read More
• Resurgent USD demand kept exerting downward pressure on Friday. • Firming Fed rate hike expectations add to the ongoing bearish slide. • A slight deterioration in investors’ risk-appetite does little to lend support. Gold remained under some selling pressure for the sixth consecutive session on Friday and is currently pl...Read More
(Kitco News)- Wall Street changed its near-term outlook on gold pricesand now looks for the metal to continue to decline on an expectation for moreU.S. rate hikes, although Main Street still leans bullish, according to theweekly Kitco News gold survey.The Federal Open Market Committee wrapped up a meeting Thursdayin which policymakers issued a statement saying economic activity remains“stron...Read More
Construction is accelerating at Fortuna Silver Mines' (TSX: FVI; NYSE: FSM) Lindero project in Argentina and commercial production will start as planned at the end of the third quarter next year, the company says."The project has gained significant momentum," Jorge Ganoza, Fortuna's president and CEO, told analysts and investors on a conference call on its third quarter results.Fortuna decided to...Read More
The stock is on pace for its worst day everAt last check, Yelp Inc (NYSE:YELP) stock was trading down 27.7% at $31.45, after the company reported weaker-than-expected third-quarter sales and cut its full-year revenue forecast. The online review name is set for its worst day ever, and earlier touched a new annual low of $29.35. As such, a slew of analysts are downwardly revising their ratings and p...Read More
Gold Gold charts have been reviewed. New patterns have been discovered. In general, the metal is going down. Namely, the commodity price is trading in two channel down patterns in the borders of a large scale ascending pattern. In the near term future, the pair is set to decline in the smallest pattern down to the 1,213.85 level, where it should encounter the support of a monthly pivot point....Read More
FRANKFURT (Reuters) - Two of the world’s biggest economies probably shrank last quarter, further proof that global growth is now past its peak and the risk of a downturn is rising.Germany and Japan are both expected to report negative growth figures in the coming days and even if a slew of one-off events are factored out, the underlying trend is weak and the outlook is fraught with risk, not...Read More
WASHINGTON (Reuters) - President Donald Trump on Friday said he did not discuss the U.S. special counsel’s ongoing Russia investigation with Matt Whitaker before appointing him as acting attorney general this week.Speaking to reporters at the White House, Trump also said he had not ruled out sitting down for an interview with Special Counsel Robert Mueller, who is probing alleged Russian int...Read More
“We are in a bond market bubble that’s beginning to unwind.” This is the statement of Alan Greenspan. Is he right? We invite you to read our today’s article about the US bond market and find out whether it is in bubble or not – and what does it all mean for the precious metals market. Gold Asks: Are US Bonds Overvalued? Bond yields are in an upward trend since 2...Read More
PARIS (Reuters) - Several French IT companies have been searched on suspicion of anti-competitive practices, the country’s competition watchdog said on Friday.The regulator did not name any of the companies that were targeted but said they were active in the fields of IT services, consulting, engineering and software.“At this point, these searches obviously do not prejudge the guilt of...Read More
NEW YORK (Reuters) - Vulnerabilities linger behind the hot U.S. labor market in which some communities remain underemployed and lack the skills and training that would protect them as the economy modernizes, two Federal Reserve policymakers said on Friday.The comments underscore why the U.S. central bank is only gradually raising interest rates even while unemployment is the lowest since the 1960s...Read More
(Reuters) - U.S. President Donald Trump on Friday blasted a federal judge’s decision to halt construction of the Keystone XL pipeline that would carry heavy crude oil from Canada to the United States, a project that has been in development for a decade.The ruling out of U.S. Court in Montana on Thursday dealt a major setback to TransCanada Corp (TRP.TO) and could possibly delay the construct...Read More
Today's losses come ahead of Sunday's Singles Day eventShares of Alibaba Group Holding Ltd (NYSE:BABA) are plunging alongside other U.S.-listed Chinese tech stocks, after the National Security Agency (NSA) accused China of violating a cybersecurity agreement made back in 2015. The NSA threatened to impose more sanctions if the issue was not resolved. In response, BABA is down 3.5% at $143.74 in e...Read More
Gold fell to its lowest in a month on Friday on a strong dollar, which gained after the U.S. Federal Reserve reaffirmed its monetary tightening stance, seen as a negative for non-yielding bullion.The Fed held interest rates steady on Thursday but is widely expected to raise interest rates in December - which would be its fourth hike this year - as it pointed to a healthy economy that was marred on...Read More
DBX is on track for its best day in three monthsThe shares of Dropbox Inc (NASDAQ:DBX) are up 8.6% to trade at $26.90 this morning, after the cloud storage company reported third-quarter earnings and revenue that exceeded analyst expectations. Dropbox also upped its fiscal year guidance. RBC has responded with a price-target bump to $37 from $36, while Canaccord Genuity spoiled the fun with a pr...Read More
LISBON (Reuters) - Taxify, a European-based rival to Uber and the leading app-based taxi-hailing platform in Africa, expects to grow its African business ten-fold over the next two years while it works to dethrone Uber in Europe, its chief executive told Reuters.Markus Villig said his firm, which has 15 million customers and half a million drivers on its platform in more than 25 countries, was on...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Friday he has signed an immigration proclamation, an order that would help effectively ban migrants who cross the U.S. border with Mexico illegally from qualifying for asylum.The Trump administration unveiled new rules on Thursday to sharply limit migrant asylum claims by barring individuals who cross the U.S. southern border illegally fro...Read More