Barrick Gold Corp. favors taking back control of its separately listed Tanzanian assets after completing its takeover of Africa-focused rival Randgold Resources Ltd., according to people familiar with the situation.Barrick spun off those assets in 2010 into a company now called Acacia Mining Plc. That unit - listed in London but majority owned by Barrick - has been dogged by operational setbacks...Read More
Barrick Gold Corp. favors taking back control of its separately listed Tanzanian assets after completing its takeover of Africa-focused rival Randgold Resources Ltd., according to people familiar with the situation.Barrick spun off those assets in 2010 into a company now called Acacia Mining Plc. That unit - listed in London but majority owned by Barrick - has been dogged by operational setbacks...Read More
NEW YORK (Reuters) - The U.S. dollar fell on Tuesday after Wall Street opened lower, spurring a risk-off move that benefited the safe-haven Japanese yen and Swiss franc against the greenback.The Dow Jones Industrial Average .DJI, the S&P 500 .SPX and the Nasdaq Composite .IXIC were all around 2 percent lower at mid-morning, dragged down by disappointing earnings from industrial bellwether...Read More
(Reuters) - A group of former executives from Autodesk Inc and Flex Ltd has raised $179 million in venture capital for a manufacturing startup that aims to use a combination of robots and new software to remove much of the manual labor from manufacturing electronic devices.San Francisco-based Bright Machines focuses on two areas. One is “micro-factories” made up of robot cells it says...Read More
Gold Gold prices have surged on Tuesday morning and reached the upper trend line of a dominant ascending pattern near the 1,235.00 level. If the commodity price breaks the resistance of the trend line, the metal is set to surge at least up to the 1,240.00 mark. Meanwhile, a bounce off from the resistance and a following decline would reach back down to the pivot point at the 1,227.30 l...Read More
(Kitco News)- Safe-haven demand is once again boosting gold prices as U.S.equity markets drop 2% across the board.“Gold’s safe-haven allure is back,” said Phillip Streible, seniormarket strategist at RJO Futures. “Equities are doing down sharply andinvestors don’t know what to do, so they are turning to gold.”Safe-haven demand pushed gold prices to its highest l...Read More
(Kitco News) - Safe-haven demand is once again boosting gold prices as U.S. equity markets drop 2% across the board.“Gold’s safe-haven allure is back,” said Phillip Streible, senior market strategist at RJO Futures. “Equities are doing down sharply and investors don’t know what to do, so they are turning to gold.”Safe-haven demand pushed gold prices to its highe...Read More
Dyson Ltd., famous for making vacuum cleaners, picked Singapore to manufacture its first electric car, pushing ahead with plans to challenge Tesla Inc. in the hottest sector of the automotive market.The closely held British manufacturer, also known for hand dryers and air purifiers, said Tuesday it will complete the factory by 2020 and stuck to a goal of rolling out its first model by 2021 as part...Read More
(Kitco News) - Gold prices are still holding decent gains of around $10.00 an ounceafter hitting a nearly three-month high of $1,243.00, basis December Comex futures, in early U.S. trading Tuesday.However, the safe-haven metal has backed down from session highs as the U.S.stock indexes have moved up from their session lows, but are still tradingsolidly lower on the day. December gold was last up...Read More
BRUSSELS (Reuters) - Euro zone consumer sentiment rose slightly in October, against expectations of a decline, according to figures released on Tuesday.The European Commission said a flash estimate showed euro zone consumer morale increased to -2.7 points in October from -2.9 points in September. Economists polled by Reuters had on average expected a decline to -3.2 points.In the European Union as...Read More
WASHINGTON (Reuters) - The U.S. Treasury Department imposed sanctions targeting Afghanistan's Taliban insurgency on Tuesday, designating eight people including two Iranians linked to Tehran's Revolutionary Guards' Quds force, according to the department's website.The individuals, which include two Pakistanis and four Afghanis, were identified as global terrorists by the Treasury Department, an act...Read More
SAN JUAN (Reuters) - Puerto Rico's federally appointed financial oversight board on Tuesday unanimously approved a revised fiscal reform plan meant to put the bankrupt island on a path toward solvency, but faced opposition from the elected government for being too strict.The vote by the seven members of the board was unanimous even though some raised concerns about the plan's ultimate viability to...Read More
(Reuters) - Wall Street sank more than 1 percent on Tuesday as disappointing forecasts from industrial bellwethers Caterpillar and 3M piled on to concerns over Saudi Arabia’s diplomatic isolation, Italy’s finances and trade-war fears.All the three major Wall Street indexes were trading below their 200-day moving averages, a key technical indicator of long-term momentum and all 11 major...Read More
What the recent spike in put buying could mean for the S&PAs Schaeffer's Senior V.P. of Research Todd Salamone pointed out in this week's Monday Morning Outlook, equity option buyers have soured on the market amid the latest post-rate-hike hangover for stocks. In reaction to the recent sell-off on Wall Street, "this group was buying equity put options relative to call options at a rate similar to...Read More
Anglo American Plc will dig more platinum than expected this year, while diamond production from its De Beers business will be at the top end of its guidance range.The century-old mining company released its production results for the third-quarter Tuesday. While there were no major surprises, there was also no new information on its suspended Minas Rio iron ore mine in Brazil that's scheduled to...Read More
German newspaper Bild am Sonntag has reported that Audi has hit a snag in its battery supply chain. LG Chem is looking to increase the price of its batteries 10% due to high demand for its automotive batteriesRead full newsRead More
eBay reports earnings next weekeBay Inc (NASDAQ:EBAY) keeps sinking to new lows and analysts continue to cut their outlooks on the stock. Since yesterday's close, EBAY has been hit with no fewer than eight bear notes, including a downgrade to "sector perform" from "outperform" at RBC, which lowered its price target by $13 to $34. Meanwhile, Susquehanna, Raymond James, SunTrust Robinson, and Jeffer...Read More
Mr. Jeff Chisholm reportsPAN ORIENT ENERGY CORP. L53-DD1 THAILAND OIL DISCOVERYPan Orient Energy Corp.'s L53-DD1 exploration well has encountered an interpreted and combined 26 metres of net oil pay within three separate sandstone reservoirs between a true vertical depth of 960 metres to 1,125 metres. This interpretation was based on conventional open-hole wireline logs and hydrocarbon indication...Read More
Mr. Jeff Chisholm reportsPAN ORIENT ENERGY CORP. L53-DD1 THAILAND OIL DISCOVERYPan Orient Energy Corp.'s L53-DD1 exploration well has encountered an interpreted and combined 26 metres of net oil pay within three separate sandstone reservoirs between a true vertical depth of 960 metres to 1,125 metres. This interpretation was based on conventional open-hole wireline logs and hydrocarbon indication...Read More
(Reuters) - United Technologies Corp (UTX.N) reported a better-than-expected quarterly profit and raised its full-year profit forecast on Tuesday as it benefited from higher sales of aircraft parts, driven by record production at planemakers Boeing and Airbus.A boom in air travel on the back of an improving global economy has boosted profits at major suppliers United Tech and Honeywell (HON.N).Uni...Read More