FRANKFURT, Oct 25 (Reuters) - European Central Bank President Mario Draghi said on Thursday that he was confident Italy and the European Commission would resolve their standoff over Rome’s budget plans for 2019.The European Commission rejected Italy’s draft 2019 budget this week, saying it brazenly broke EU rules on public spending, and asked Rome to submit a new one within three weeks...Read More
BEIJING (Reuters) - China finds it “hard to understand” why the United States is not sending senior government officials to a major import expo in Shanghai next month, the foreign ministry said on Thursday.The world’s two biggest economies are locked in an escalating tariff row, with President Donald Trump having railed against China for what he sees as intellectual property thef...Read More
BERLIN, Oct 25 (Reuters) - Non-tariff trade barriers between the European Union and Turkey must be eliminated, German Economy Minister Peter Altmaier said on Thursday.Altmaier made the comments at a joint news conference with Finance Minister Berat Albayrak in Ankara. Altmaier also said discussing the European Union's customs policy with Turkey was a complicated process and there was a need for mo...Read More
Hilton shares had been in a ugly slump heading into todayThe shares of Hilton Hotels Corporation (NYSE:HLT) are up 1.9% to trade at $66.92, after Bill Ackman's Pershing Square Capital Management unveiled a 3.7% stake in the hotel operator. This follows yesterday morning's mixed earnings results, in which Hilton reported a third-quarter profit beat, but lowered the top end of its 2018 RevPAR grow...Read More
BERLIN, Oct 25 (Reuters) - The German government's tax revenues this year should be 2.5 billion euros ($2.86 billion) higher than previously thought, estimates released by Finance Minister Olaf Scholz on Thursday showed.The estimates showed the federal government expects tax revenues of 321.3 billion this year, which will rise gradually in each of the next four years to reach almost 368 billion eu...Read More
MADISON, Wisconsin/ST. CLAUDE, Manitoba (Reuters) - Minnesota farmer Paul Fritsche can no longer afford health insurance as he struggles to sustain a dairy farm that has been in his family for nearly a century.With U.S. milk prices in the fourth year of a slump due to chronic oversupply, Fritsche, 58, is unsure whether he will be able to pass his 30-cow farm onto his sons and grandsons.“Do y...Read More
(Kitco News) - European Central Bank President Mario Draghi cautioned markets following the central bank’s rate announcement, promising that even if the asset purchase programme (APP) ends at the end of the year, the monetary policy will still remain “very accommodative.”The ECB left interest rates unchanged on Thursday, noting that it was still planning to end its monthly asset...Read More
BEIJING (Reuters) - China’s foreign ministry has some suggestions for the Trump administration if they are worried about foreign eavesdropping on the U.S. president’s iPhone: use a Huawei handset instead.Or just sever ties with the outside world completely.The riposte came after a New York Times report that Chinese and Russian spies often secretly listened in on President Donald Trump...Read More
WASHINGTON/NEW YORK (Reuters) - Authorities discovered another wave of suspicious packages on Thursday targeting high-profile Democrats and critics of U.S. President Donald Trump as a manhunt intensified for a serial bomber less than two weeks ahead of elections.None of the nine devices went off and no injuries were reported, but some top Democrats called the threats a symptom of a coarsening bran...Read More
OceanaGold Corp.(TSX, ASX: OGC) reported a net profit for the third quarter of $21.7 million,or 4 cents a share, which was the same as in the third quarter of 2017. Thecompany lists production of 138,034 ounces of gold, up from around 136,000 inthe year-ago period. All-in sustaining costs were $761 an ounce. The averagegold price fell to $1,202 from $1,276. OceanaGold also produced 4,310 tonnes of...Read More
The tech company reported fiscal 4Q profit and revenue beatsThe shares of F5 Networks, Inc. (NASDAQ:FFIV) are set for a higher open, after the software application specialist reported fiscal fourth-quarter earnings of $2.90 per share on $562.7 million in revenue -- more than analysts were expecting. A round of bullish brokerage notes is only adding to the buzz, with FFIV stock up 1.4% in electroni...Read More
It's one of the biggest earnings days of the yearDow Jones Industrial Average (DJI) futures are trading comfortably above fair value ahead of one of the biggest earnings days of the year. Blue chip Microsoft (MSFT) is pointed higherafter an upbeat earnings release, setting the tone ahead of quarterly results from fellow tech names Intel (INTC), Amazon.com (AMZN), and Alphabet (GOOGL) later in the...Read More
BEIJING (Reuters) - China and Japan should safeguard free trade and anchor global growth, Chinese Premier Li Keqiang said on Thursday, as Japan’s prime minister arrived in Beijing on a visit against a backdrop of trade friction with the United States.Shinzo Abe’s three-day visit is expected to carve out new scope for cooperation between Asia’s two biggest economies. It is also ex...Read More
(Kitco News) - Newmont Mining Corp. (NYSE: NEM) Thursday reported a modest decline froma year ago in third-quarter adjusted net income due to lower metals prices andoutput.The company listedadjusted income of $175 million, or 33 cents per share, compared to $184million, or 34 cents, in the same period a year ago. This beat forecasts centeredaround 19 cents a share, according to news reports.On a n...Read More
Barrick Gold's (TSX, NYSE:ABX) executive chairman John Thornton said Thursday the company could sell its non-core assets, particularly copper ones, as a result of the merger with Randgold Resources (LON:RRS), a deal which is expected to happen in the first three months of 2019.Barrick and Randgold will focus on Tier 1 assets which produce 500,000 ounces of gold annually, have a mine life of more...Read More
Barrick Gold's (TSX, NYSE:ABX) executive chairman John Thornton said Thursday the company could sell its non-core assets, particularly copper ones, as a result of the merger with Randgold Resources (LON:RRS), a deal which is expected to happen in the first three months of 2019.Barrick and Randgold will focus on Tier 1 assets which produce 500,000 ounces of gold annually, have a mine life of more...Read More
(Kitco News)- Gold did not move much after a Commerce Department report Thursdayshowing that U.S. September orders for durable goods rose by 0.8% to $262.1billion. December Comex gold futures were last at$1,234.90, up 0.31% on the day. Consensus expectations compiled by various news organizations hadcalled for durables to be down by somewhere between 1.5% and 1.9%. This increasefollowed a 4...Read More
(Kitco News) - Gold prices largely ignored the data from the U.S. Labor Department showing that the initial weekly jobless claims rose to 215,000 in the week to Saturday. Market consensus called for initial claims to rise to 214,000 from the unrevised level of 210,000 reported in the previous week. The December Comex gold futures were not impacted by the data, largely keeping all early-morning gai...Read More
(Kitco News) - Gold prices aremoderately higher in early U.S. trading Thursday, on more safe-haven buyingahead of an uncertain U.S. trading session following Wednesday’s pounding inthe U.S. stock market and steep losses in Asian shares overnight. December gold futures were last up $4.40 an ounce at $1,235.40. December Comex silver waslast up $0.089 at $14.76 an ounce. Globalstock markets wer...Read More
RIYADH (Reuters) - Saudi Arabia said it signed $56 billion of deals at an investment conference this week and expected the United States to remain a key business partner despite a partial boycott of the event over the killing of Saudi journalist Jamal Khashoggi.Over two dozen top officials and executives from the United States and Europe, including U.S. Treasury Secretary Steven Mnuchin and chief...Read More