Milan Settles Fraud Case Against UBS, JP Morgan, Deutsche Bank, Depfa
The city of Milan reached a tentative settlement in a two-year-old fraud case against four major banks that arose from a disastrous derivatives contract sold to the Italian city in 2005, Bloomberg News reported Thursday.
Turkey's Govt Wants Citizens To Store Gold In Banks, Not Homes
Turkey's government, working to reduce a current-account deficit that has soared to nearly 10 percent of gross domestic product and cut high inflation, aims to coax citizens into storing their vast gold holdings in the nation's banking system.
Gold Falls to Lowest Level Since Mid-January
Gold hit its lowest level since mid-January on Thursday, influenced by dollar strength, with the market having unwound all of the premium built up on expectations for further U.S. quantitative easing.
Caterpillar Expanding Chinese Manufacturing Capacity
Heavy equipment maker Caterpillar Inc. (NYSE: CAT) is expanding a Chinese manufacturing facility by 80 percent, the U.S. company said Wednesday.
Gold Prices Steady, Stronger Euro Offsets ETF Decline
Gold traded broadly steady on Wednesday, as a boost from a modestly stronger euro against the dollar partly offset slow consumer demand and an erosion in holdings of the metal in exchange-traded products.
Deutsche Bank Hires G4S To Build Precious Metals Vault
Germany's Deutsche Bank said on Tuesday it had hired global security firm G4S to build and manage a new precious metals vault, as it seeks to cash in on booming investor demand for physical gold and silver.
Gold Falls On Dollar Strength
Gold fell on Tuesday, hurt by strength in the dollar which profited from the growing view in the market that the U.S. economy is on a firmer footing, ending a three-day rally in the bullion price.
Fed Fining Eight More Home Mortgage Lenders In Robo-Signing Scandal
The Federal Reserve plans to fine eight more bank holding companies for improper home mortgage foreclosures, the latest fallout from the so-called robo-signing scandal in which banks filed foreclosure documents without verifying their accuracy.
Apple Juices An Already Buoyant Market: Daily Markets Wrap
Apple Inc. (Nasdaq: AAPL) downloaded $45 billion, to borrow a phrase from the Financial Times, to its shareholders Monday, lifting both its own stock and the already buoyant broader market.
Central Banks Take Advantage Of Gold Price Decline To Buy Bullion
The fall in gold prices has prompted one or more central banks to buy as much as four tonnes of bullion in recent weeks, according to an industry source and a Financial Times report on Friday.
Kinross Gold May Be Takeover Target
Cost overruns and a massive writedown have knocked Kinross Gold's stock so low that some bankers see it as Canada's biggest potential takeover play, though obstacles to a bid for the senior gold producer may be too big to surmount.
Gold Prices Edge Higher, Dollar Weakening
Gold edged up on Monday, aided in part by evidence of investor and central bank demand, after having posted its largest weekly fall last week in three months, although greater optimism in the markets over global growth could temper gains in the longer-run.
Gold Prices Steady After Last Week's Fall
Gold steadied above two-month lows on Monday, following its largest weekly fall last week in three months, as evidence of investor and central bank demand in recent weeks helped offset the negative impact of a weaker euro.
Civilian Opponents of Peru's Conga Mine 'Detain' Non-Profit's Workers
Seven employees from a non-profit organization created by Newmont Mining's Peruvian subsidiary have been detained by townspeople near the company's stalled $4.8 billion Conga mine, the group said on Friday.
Gold Ends Week With Little Change
Gold was largely unchanged on Friday, but posted its second-biggest weekly decline this year due to an early week drop after the FederalReserve withheld additional easing amid a string of encouraging U.S. economic data.
Markets Quiet As Consumer, Manufacturer Sentiment Ebbs: Daily Markets Wrap
Consumers didn't get the escape velocity memo, the one that says economic and financial things are getting better and better. A Thomson Reuters/Univ. of Michigan survey released Friday found consumer sentiment down, especially on expectations for the next six months.
Sprint Ends Partnership With LightSquared
Sprint Nextel Corp. (NYSE: S) said Friday it terminated its $9 billion spectrum sharing partnership with telecommunications startup LightSquared.
India To Double Its Gold Import Duty
India, the world's No. 1 gold buyer, plans to double the duty on imports of the precious metal, according to reports Friday, its second such move this year. Gold prices fell nearly 1 percent.
Gold Prices Reverse Three-Day Plunge
Gold rose Thursday, reversing a three-day plunge that left prices beneath their critical 200-day moving average.
US Wholesale Prices Up 0.4% In February
Surging gasoline prices raised wholesale prices in February by 0.4 percent, less than economists expected but generally in line with the U.S. central bank's broader outlook for inflation, the Commerce Department said Thursday.
Investor Confidence Fizzles, Consumer Sentiment Off: Daily Market Wrap
Whatever buzz came from the post-FOMC statement and catapulted stocks up on Tuesday turned into a hush Wednesday afternoon. Equities started strong but ended with a whimper.
Newmont Mining Re-evaluating Conga Mine
Newmont Mining Corp. is reevaluating the cost of its delayed Conga gold and copper project in Peru, the company's senior vice president in South America said on Wednesday.
Zimbabwe's 2012 Gold Production Off To Slow Start
Zimbabwe's monthly gold production has fallen short of the targeted 1,100 kilogrammes since the start of 2012, according to figures published by the finance ministry on Wednesday, throwing into doubt a projected annual output of 13 tonnes for the year.
Claude Resources Hikes Reserve Figures
Precious metals miner Claude Resources Inc said measured and indicated gold resources rose 43 percent as it discovered more gold at its Seabee property in Saskatchewan.
Gold Extends Losses As Dollar Extends Gains
Gold fell to its lowest since mid-January on Wednesday after a modest upgrade of the U.S. Federal Reserve's economic outlook added zip to the dollar and gave investors an excuse to lighten holdings of bullion.
US 4Q Trade Deficit Surges 15%, More Than Expected
U.S. imports grew more than exports in the fourth quarter of last year, increasing the nation's foreign trade deficit for the period to $124.1 billion, a 15 percent jump and far more than expected, the Commerce Department said Wednesday.
Stocks Soar On US Retail Sales, German Investor Confidence: Daily Markets Wrap
Stocks shot up Tuesday, propelled by a strong U.S. retail sales report, a German investor confidence survey and a statement by the Federal Open Market Committee noting improvement in household and business spending as well as job creation.
Harmony Gold May List On Hong Kong Exchange
Harmony Gold, South Africa's third-largest bullion miner, said on Tuesday it would consider a Hong Kong listing once its massive Wafi-Golpu project in Papua New Guinea is up and running in around 5 years time.
Impala Platinum Tells Zimbabwe To Show It The Money
South Africa's Impala Platinum said on Wednesday that the Zimbabwean government would have to find the money to buy the 31 percent stake it wanted in its local unit Zimplats or the stake would not be transferred.
MF Global Customers Get Bids For Their Claims: Report
Customers of bankrupt U.S. brokerage MF Global are receiving bids from global banks for their claims, according to a published report.
