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  • U.S. Jobless Claims Fell 6K to 290K in Oct. 16 Week

    Jobless claims fell slightly and notched a new pandemic low last week, a sign layoffs remain low as companies struggle to hire workers. Worker filings for initial unemployment benefits decreased to 290,000 last week from a revised 296,000 a week earlier, the Labor Department said Thursday. Last week's decline brings claims to the lowest level since the pandemic struck in March 2020. Claims, a proxy for layoffs, are holding well below a recent peak of 424,000 in mid-July but remain...

  • Turkish Central Bank Cuts Benchmark Interest Rate to 16% -- Update

    Turkey's central bank on Thursday cut its benchmark interest rate after President Recep Tayyip Erdogan last week discharged three top officials. The central bank cut its key rate to 16% from 18%. The benchmark rate was forecast to be cut to 17% by FactSet.

  • Turkish Central Bank Cuts Benchmark Interest Rate to 16%

    Turkey's central bank on Thursday cut its benchmark interest rate after President Recep Tayyip Erdogan last week fired three top officials. The central bank cut its key rate to 16% from 18%. The benchmark rate was forecast to be cut to 17% by FactSet.

  • OGDCL Discovers Gas at Jandran West X-1 Well in Pakistan

    Oil& Gas Development Co. said Thursday that it has made a gas discovery over the Mughalkot formation from its exploration at the Jandran West X-1 well in Pakistan. The Pakistani oil-and-gas company said this discovery will add to its hydrocarbon reserves base, as well as the country's. OGDCL said the well, which is located in the province of Balochistan, flowed at a rate of 2.391 million standard cubic feet per day gas.

  • EUROPEAN MIDDAY BRIEFING: Stocks Drop on Economic Uncertainty, Evergrande Troubles

    European stocks drifted lower on uncertainty about the economic outlook and as investors fretted over Chinese property group Evergrande's potential debt default. Miners were weaker on lower commodity prices, while a broad range of companies issued earnings and trading updates against a backdrop of doubts about the impact of the coronavirus delta variant and supply chain disruptions. "Investors' appetite for riskier assets remains uncertain as a positive earnings season...

  • Lancashire Holdings Warns on Political, Natural Catastrophe Losses

    Lancashire Holdings Ltd. (LCSHF) warned Thursday that it will suffer more than $200 million in losses due to recent political and natural catastrophe events. The Bermuda-based, U.K.-listed insurance company said it should incur aggregate net ultimate losses in the range of$ 165 million and $185 million due to Hurricane Ida and severe weather in Europe. Political violence and unrest in South Africa during 2021 will also translate into estimated ultimate net losses of around $40...

  • Anglo American Platinum Reports Flat 3Q Production; Reaffirms 2021 Guidance

    Anglo American Platinum Ltd. (AGPPF) on Thursday reported broadly flat production for the third quarter and reiterated full- year guidance. The South African miner, a subsidiary of Anglo American PLC (AAUKF), said its production increased to 1.12 million ounces in the three months ended Sept. 30 from 1.11 million ounces a year earlier, and also from 1.06 million ounces in the second quarter. This includes platinum, palladium, rhodium, iridium, ruthenium and gold.

  • Anglo American 3Q Production Rose 2% Driven by Iron Ore, Diamonds

    Anglo American PLC (AAUKF) said Thursday that its third-quarter production increased 2%, and narrowed guidance for diamonds, copper and iron ore to the lower end of the range. The miner produced 16.9 million metric tons of iron ore in the three months through September, up 15% from a year earlier driven by the Minas-Rio operations in Brazil. Copper output declined 6% to 157,000 tons due to planned maintenance at the Collahuasi mine in Chile.

  • Indian Morning Briefing: Asian Markets Mixed; China Evergrande Calls off Plans to Sell Key Unit

    GLOBAL MARKETS DJIA 35609.34 152.03 0.43% Nasdaq 15121.68 -7.41 -0.05% S&P 500 4536.19 16.56 0.37% FTSE 100 7223.10 5.57 0.08% Nikkei Stock 29191.39 -64.16 -0.22% Hang Seng 26161.99 25.97 0.10% Kospi 3020.93 7.80 0.26% SGX Nifty* 18354.00 37.0 0.20%* Oct contract USD/JPY 114.31-32 -0.01% Range 114.42 114.23 EUR/USD 1.1665-68 +0.14% Range 1.1668 1.1649 CBOT Wheat Dec $7.492 per bushel Spot Gold $1,785.24/ oz 0.2% Nymex Crude $83.87 $0.91 US STOCKS. U.S. stocks rose, with the...

  • ICE Canada Weekly Outlook: Canola Rally Keeps Going

    WINNIPEG--With good gains from other edible oils, canola has remained on the increase so far during the week of Oct. 18. It is uncertain as to how much longer the rally could press on, but an analyst said canola punching through C $1,000 per metric ton again is possible. "Never say never, it's gotten there before," said analyst David Derwin of PI Financial in Winnipeg. Over the course of the last week, November canola has jumped C $46.10 to C $949.30 per ton on Wednesday.

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