The euro area is headed toward a sharp economic slowdown in 2012, with some countries set for negative growth, and failure to restore confidence in battered state finances could prompt a major contraction in developed countries, the OECD said on Monday.
Italian bond yields rose on Monday nearly to levels seen in August when the ECB intervened to shore up debt markets, indicating new concerns that problems in the euro zone's third largest economy could threaten the entire bloc.
Stocks fell at the open on Monday as a spike in the U.S. dollar weighed on commodity prices and dried up bids on other risky assets.
Italian bond yields rose on Monday nearly to levels seen in August when the ECB intervened to shore up debt markets, indicating new concerns that problems in the euro zone's third largest economy could threaten the entire bloc.
Impala Platinum's Zimbabwe unit said on Monday metal production fell 13 percent during the July-September quarter after a maintenance shutdown at its furnace, but the company was on track to submit a revised local ownership plan in November.
The author is a Reuters contributor. The opinions expressed are his own.
Tony Romo and the Dallas Cowboys continue to struggle, Tim Tebow completely disappoints against the Lions, the Cincinnati Bengals continue to fly under the radar, and more in this week's NFL Roundup.
The bankruptcy of New York-based MF Global Holdings brought the European debt crisis to New York, wiping out a respected firm and tarnishing the reputation of a former Goldman Sachs CEO.
PNG Gold Corp. set to acquire 100 percent of New Guinea Gold Corp. after PNG fulfilled exploration expenditure requirements under an option agreement.
Ratings agency Moody's has cut its outlook for the European steel industry to negative and said it expects demand to weaken by up to 4 percent in the next 12 months, as the industry faces economic strain and weak construction and auto markets.
A slide in iron ore prices has driven miners to alter costly quarterly contracts to please Chinese clients, but spot pricing, which magnifies the impact of price swings, is still distant.
Loews Corp , run by the billionaire Tisch family, posted quarterly earnings below analysts' estimates for the third time in a row, hurt by a fall in its investment income and higher catastrophe losses at its biggest holding CNA Financial .
Banks led European shares lower on Monday, giving up some of last week's hefty gains as demand for detail on the recent euro zone debt deal teed up a weak end to a bumper month, with the broader market on course to snap a five-month losing streak.
Banks led European shares lower on Monday, giving up some of last week's hefty gains as demand for detail on the recent euro zone debt deal teed up a weak end to a bumper month, with the broader market on course to snap a five-month losing streak.
The Nikkei stock average ended lower on Monday, giving up sharp intraday gains made after Japanese authorities intervened to curb persistent yen strength, as investors locked in profits on concerns the yen won't stay down for long.
Loews Corp , run by the billionaire Tisch family, posted quarterly earnings below analysts' estimates for the third time in a row, hurt by a fall in its investment income and higher catastrophe losses at its biggest holding CNA Financial .
Oil prices eased on Monday, with Brent slipping below $110, as the dollar rose against the yen after Japan intervened in the currency markets to stem the rise of the yen.
The yen dropped to a three-month low against the dollar on Monday after Japan intervened in the market to curb the currency's rise even as traders said more official action is needed for a sustained impact.
Stocks were set to fall at the open on Monday after four weeks of gains, as a spike in the U.S. dollar weighed on commodity prices and dried up bids on other risky assets.
The scandal engulfing Olympus Corp <7733.T> isn't the only corporate governance hot potato in Japan. Revelations by tissue maker Daio Paper Corp <3880.T> of management that had spun out of control is adding pressure on Olympus to bare all to an investigative panel it has promised to assuage investor angst.
White Tiger Gold Ltd. said its mining contractor CMAC has restarted operations at the company's Lamaque project in Quebec and that it planned to bring in drilling contractors to explore the property.
Centamin Egypt Ltd. posted quarterly net profit almost three times the year-ago level, boosted by higher gold prices, and said it was on track to hit its revised 2011 gold production target.
The euro area is headed toward a sharp economic slowdown in 2012, with some countries set for negative growth, and failure to restore confidence in battered state finances could prompt a major contraction in developed countries, the OECD said on Monday.
U.S. stock index futures fell on Monday, following four weeks of market gains, as a spike in the U.S. dollar weighed on commodity prices and dried up bids on other risky assets.
The China unit of investment bank JP Morgan has won approval to become a trading member of the Shanghai Gold Exchange, the eighth foreign financial institute to obtain such membership, said the exchange on its Web stie (www.sge.com.cn).
Harmony Gold, South Africa's third-largest gold producer, posted a more than three-fold increase in quarterly earnings on Monday, beating expectations as bullion's record run and a weaker rand combined to lift its profits.
Markets have over-interpreted comments by incoming European Central Bank chief Mario Draghi on the bank's readiness to go on buying the bonds of troubled euro zone states, outgoing ECB President Jean-Claude Trichet said.
Japan sold the yen for the second time in less than three months after it hit another record high against the dollar Monday, saying it intervened to counter excessive speculation that was hurting the world's No. 3 economy.
Chinese internet portal Sohu.com Inc's third-quarter profit rose 19 percent, helped mainly by higher revenue from its online advertising and online gaming businesses
Stock index futures pointed to a weaker open for equities on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down by between 0.6 and 0.9 percent.
