LONDON (Reuters) - The United States is not too concerned by Europe’s idea for a special purpose vehicle (SPV) to circumvent U.S. sanctions with Iran as companies are withdrawing from the country in droves, the senior official for financial intelligence said.“I think the bigger news in Europe is that companies are withdrawing from Iran in droves,” Under Secretary of the Treasury...Read More
Goldman Sachs is the worst Dow stock at midday, thoughThe U.S. stock market is spiraling at midday, with the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) down more than 1% each, and the Nasdaq Composite (IXIC) off nearly 3%. Apple (AAPL) is leading a slide in tech stocks as Lumentum's (LITE) weak forecast sparks concern over iPhone demand, while Goldman Sachs (GS) is pacing a slump i...Read More
NEW YORK (Reuters) - The dollar reached a 16-month high on Monday against a basket of currencies as investors built bets on a Federal Reserve interest rate increase next month, and political risks in Europe which put pressure on the euro and the pound.Fears about a no-deal Brexit and a growing rift in Europe over Italy’s budget have also boosted the dollar.The greenback has rebounded from lo...Read More
FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE) is open to joining a German consortium exploring production of electric car battery cells and will discuss the matter at a supervisory board meeting on Friday, a person familiar with the matter said on Monday.A Volkswagen spokesman declined to comment.Volkswagen has already awarded multibillion-euro battery cell supply contracts to LG Chem and China&rsq...Read More
De Beers made steep cuts in the prices of low-quality stones at its sale this week, according to people familiar with the situation.The world's biggest producer reduced prices as much as 10 percent for low-quality stones, said the people, who asked not to be identified because the sales are private. It's the latest sign that the bottom end of the market is in turmoil. The business of low-end diamo...Read More
Standard Lithium Ltd said on Monday it had signed an agreement with Lanxess AG t...Read full newsRead More
Even in the wake of impressive year-over-year revenue growth, ACB is strugglingShares of Aurora Cannabis Inc (NYSE:ACB) are down 2.6% at $7.10, erasing early gains, despite the pot company's impressive fiscal first-quarter earnings announcement. ACB said quarterly revenue increased 260% year-over-year, even though the quarter concluded before the Oct. 17 legalization of recreational marijuana use...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday urged Florida election officials to abandon recount efforts, declare his fellow Republicans the winners and, without evidence, cast doubt on vote tallies as state officials scrambled to review more than 8 million ballots by a Thursday deadline.Leads by the Republican candidates in two key contested races - one for a seat in the U.S. Sena...Read More
Here we go again...Read full newsRead More
Most analysts are already bullish on the nameStifel raised its rating on Pebblebrook Hotel Trust (NYSE:PEB) to "buy" from "hold," and raised its price target on the real estate investment trust (REIT) to $38 from $37 -- an 11.2% premium to last Friday's close. The brokerage firm pointed to an attractive entry point following recent stock market volatility, and that it expects the shares to outperf...Read More
(Reuters) - General Electric Co (GE.N) Chief Executive Officer Larry Culp said on Monday the company was saddled under too much debt and would urgently sell assets to pay off debt, sending its shares down 8 percent.“We have no higher priority right now than bringing leverage levels down,” Culp said in an interview with CNBC. “We have plenty of opportunity to do that through asset...Read More
Nov 12 (Reuters) - Canada's main stock index fell on Monday, weighed by losses in shares of precious metal miners as gold prices hit its lowest in a month.* Gold fell for a seventh straight session, as the dollar jumped to 16-month highs on the back of political uncertainty in Europe and the U.S. Federal Reserve's hawkish stance on interest rates.* The materials sector, which includes precious and...Read More
KHARTOUM (Reuters) - Many cash machines in the Sudanese capital have run out of banknotes as the government scrambles to prevent economic collapse with a sharp devaluation and emergency austerity measures.Rising demand for cash due to inflation, lack of trust in the banking system and the central bank’s policy of restricting the money supply to protect the Sudanese pound have all contributed...Read More
Standard Lithium Ltd said on Monday it had signed an agreement with Lanxess AG to build a pilot plant that will process lithium from Arkansas brine, part of an ongoing study on whether to develop a joint venture to produce the white metal.The pair aim to eventually produce lithium - a key component of electric car batteries - on a mass scale from brine that is a byproduct of existing bromine produ...Read More
The beauty stock gapped lower last week after earningsBeauty supply concern Coty Inc (NYSE:COTY) is up 1.8% at $8.65 in early trading, after the company announced the immediate resignation of CEO Camillo Pane, citing family reasons. A number of other corporate-level changes were also revealed, including a new chairman of the board, and the addition of two new and independent board members. Today'...Read More
(Kitco News) -Money managers trimmed theirbearish positioning in gold during the most recent reporting week for datacompiled by the Commodity Futures Trading Commission, although these accountshave likely reversed course since and are accumulating bearish positions again,analysts said.During the week-long period toNov. 6 covered by the report, Comex December gold gained $1 to $1,226.30 anounce, wh...Read More
(Kitco News) - Money managers trimmed their bearish positioning in gold during the most recent reporting week for data compiled by the Commodity Futures Trading Commission, although these accounts have likely reversed course since and are accumulating bearish positions again, analysts said.During the week-long period to Nov. 6 covered by the report, Comex December gold gained $1 to $1,226.30 an ou...Read More
AMRN boasts a more than 400% gain in 2018The shares of Amarin Corporation (NASDAQ:AMRN) are down 10.6% to trade at $18.82 this morning, after an update on the pharmaceutical name's heart disease drug Vascepa. Data from a clinical trial showed the drug was effective in reducing cardiovascular risks, but some investors have suggested the placebo used in the study may have exaggerated the positive...Read More
ArcelorMittal Temirtau, a Kazakh unit of the world's largest steelmaker, said on Monday it would take a month to restore output at its steel mill after an incident on Saturday prompted a partial suspension of operations.ArcelorMittal Temirtau, Kazakhstan's biggest steel mill, said at the weekend that several gas pipelines had been damaged after a fire broke out at the plant."I think that the recov...Read More
Russian gold and silver producer Polymetal has begun construction at its new Nezhda gold mine in eastern Siberia, which will contribute to its dividends in 2022, it said on Monday.The London-listed firm, part-owned by businessman Alexander Nesis, is starting this new project with pre-production capital expenditures estimated at $234 million a few months after it launched its Kyzyl mine in Kazakhst...Read More