RIYADH (Reuters) - Saudi Arabia signed deals worth $50 billion on Tuesday, showing it can still attract investment at a conference boycotted by Western politicians and global business chiefs after the killing of journalist Jamal Khashoggi.The Saudi cabinet, after a meeting headed by King Salman on the same day, promised to hold to account those who where responsible for Khashoggi’s death and...Read More
The struggling FAANG stock is at risk of more bearish brokerage notesJefferies cut its price target on Facebook, Inc. (NASDAQ:FB) to $200, though the brokerage firm reiterated its "buy" rating on the FAANG stock. This relatively bearish analyst note comes ahead of Facebook's earnings report, due after the close next Tuesday, Oct. 30, and -- alongside stiff broad-market headwinds -- has FB shares t...Read More
South Korea's top steelmaker POSCO posted its highest quarterly profit since 2011 and said it expected sales revenue for all of 2018 to be lifted by higher steel prices.The world's fifth-largest steelmaker raised its revenue outlook for the full-year to 64.8 trillion won ($57.0 billion) from its previous forecast of 64.1 trillion won in July, POSCO said in its filing on Tuesday.POSCO's revenue in...Read More
(Reuters) - Wall Street opened sharply lower on Tuesday as disappointing earnings from industrial bellwethers Caterpillar and 3M piled on to concerns over Saudi Arabia’s diplomatic isolation, Italy’s finances and trade war fears.The Dow Jones Industrial Average .DJI fell 278.95 points, or 1.10 percent, at the open to 25,038.46.Dow Jones & Company Inc24975.31.DJIDOW JONES INDEXES-34...Read More
The semiconductor sell-off is worsening todayAmid this morning's steep broad market sell-off, several analysts weighed in on chip stocks, doling out mostly downgrades and price-target cuts. Many believe the recent semiconductor sector underperformance is due to a possible "cyclical correction" and trade tensions with China. To get more specific, Susquehanna slapped both Applied Materials, Inc. (N...Read More
(Reuters) - Fifth Third Bancorp’s (FITB.O) quarterly profit beat analysts’ estimates on Tuesday, as it earned more from interest-bearing assets and gave out more commercial loans.U.S. banks have benefited from higher interest rates since the Federal Reserve started raising them in 2015. Higher interest rates allow banks to charge customers more for loans, while maintaining relatively l...Read More
China's alumina exports in September surged more than fivefold from August to 165,839 tonnes, according to customs data released on Tuesday, the highest monthly volume this year.Last month's exports rose from 29,722 tonnes in August and were up more than 3,400 percent from a year earlier.China, the world's largest aluminium maker, rarely exports large volumes of alumina, a raw material for making...Read More
BEIJING (Reuters) - Bank of Kunlun Co, the key Chinese conduit for transactions with Iran, is set to halt handling payments from the Islamic Republic under pressure of imminent U.S. sanctions against the country, four sources familiar with the matter told Reuters.Kunlun, the main official channel for money flows between China and Iran, has verbally informed clients that it will stop accepting yuan...Read More
LONDON (Reuters) - Oil prices fell on Tuesday after Saudi Arabia said it could supply more crude quickly if needed, reassuring investors ahead of U.S. sanctions on Iran’s crude exports that start next month.Benchmark Brent crude oil LCOc1 fell by $1.96 a barrel to a low of $78.32, down 2.5 percent and below its 50-day moving average for the first time in two months, before recovering a littl...Read More
RIYADH (Reuters) - Saudi Arabia said on Tuesday it would continue to meet customer demand for crude despite looming U.S. sanctions that are expected to reduce oil exports from Iran.Saudi Energy Minister Khalid al-Falih said at an investment conference in Riyadh that the oil market was in a “good place” and he hoped oil producers would sign a deal in December to extend cooperation to mo...Read More
“Gloomy” global equitieshave propelled gold to three-month highs as the precious metal acts like a safehaven again, says George Gero,managing director with RBC Wealth Management. Some traders are likely being forced tocover some short positions, he continues. “The fallout of Saudi problems, Italybudget headlines, trade wars and tariffs all weigh on stocks and [are] movinggold, wh...Read More
The social media stock has shed 53% year-to-dateShares of Snap Inc (NYSE:SNAP) are taking a hit in electronic trading, after the stock this morning received a fresh round of price-target cuts ahead of the social media name's earnings report, due after the market closes this Thursday, Oct. 25. SNAP has struggled on the charts since its February peak, and, as of last night's close at $6.84, had she...Read More
“Gloomy” global equities have propelled gold to three-month highs as the precious metal acts like a safe haven again, says George Gero, managing director with RBC Wealth Management. Some traders are likely being forced to cover some short positions, he continues. “The fallout of Saudi problems, Italy budget headlines, trade wars and tariffs all weigh on stocks and [are] moving go...Read More
Swedish engineering firm Sandvik reported quarterly core earnings marginally ahead of market expectations on Tuesday and said order intake had improved significantly across all business areas.Third-quarter adjusted operating earnings at the maker of metal-cutting tools and mining gear rose to 4.59 billion Swedish crowns ($510 million) from 3.34 billion crowns a year ago, beating a 4.52 billion cro...Read More
It's shaping up to be an ugly day for stocks as tariffs take a toll on Caterpillar earningsDow Jones Industrial Average (DJI) futures are pointing to a major sell-off, as traders react to a heavy round of blue-chip earnings. Most notably, shares of 3M (MMM) and Caterpillar (CAT) are set for sharp losses at the open, with 3M's results negatively affected by foreign currency impacts and Caterpillar...Read More
Mr. Darrell Rader reportsMINAURUM SAMPLES UP TO 1205 G/T SILVER AND 3.2% COPPER ON NEWLY DISCOVERED EUROPA SUR VEIN EXTENSIONMinaurum Gold Inc. has acquired the 311-hectare Claraboya concession located in the western part of its 100-per-cent-owned Alamos silver project in Sonora, Mexico.Claraboya hosts the newly discovered southern extension of the Europa-Guadalupe vein system named "Europa Sur" a...Read More
Mr. Darrell Rader reportsMINAURUM SAMPLES UP TO 1205 G/T SILVER AND 3.2% COPPER ON NEWLY DISCOVERED EUROPA SUR VEIN EXTENSIONMinaurum Gold Inc. has acquired the 311-hectare Claraboya concession located in the western part of its 100-per-cent-owned Alamos silver project in Sonora, Mexico.Claraboya hosts the newly discovered southern extension of the Europa-Guadalupe vein system named "Europa Sur" a...Read More
RIYADH (Reuters) - Saudi Arabia signed deals worth more than $50 billion in oil, gas, infrastructure and other sectors at an investment conference in Riyadh on Tuesday, officials there said.Details were announced at the Future Investment Initiative, held in Riyadh in the face of boycotts by Western political figures, international bankers and executives that were prompted by the killing of journal...Read More
(Reuters) - A package containing what appeared to be an explosive device was found in a mail box outside the New York residence of billionaire financier George Soros on Monday, police said.Soros, one of the world’s biggest donors to liberal groups and causes, has become a hate figure for right-wing campaigners in the United States and eastern Europe, and the target of a hostile media campaig...Read More
(Reuters) - A U.S. judge on Monday affirmed a verdict against Bayer AG unit Monsanto that found its glyphosate-based weed-killers responsible for a man’s terminal cancer, sending the German company’s shares down 8 percent.In a ruling by San Francisco’s Superior Court of California, Judge Suzanne Bolanos said she would slash the punitive damages award to $39 million from $250 mill...Read More