Business News Toronto

  • NEW YORK, April 23- The dollar advanced across the board on Tuesday as financial markets re-opened after the Easter holiday and traders favored the greenback ahead of the release on Friday of U.S. gross domestic product data for the first three months of 2019.. The euro was 0.33% lower at $1.1218 after briefly slipping below the $1.12 handle for the first time in...

  • TORONTO, April 23- Agnico Eagle Mines is doubling down this year on Nunavut, Canadas least developed territory, betting that the high-grade gold ores and slim competition there will offset the risks of digging in the remote location in the far north. They believe the company is making the right move again, thanks to high-grade ores in Nunavut and Agnico's 12 years'...

  • SAN FRANCISCO, April 18- Uber's autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corp, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering. SoftBank will invest $333 million from its $100 billion Vision Fund, while Toyota Motor Corp...

  • MIAMI/ WASHINGTON, April 17- The Trump administration on Wednesday imposed new sanctions and other punitive measures on Cuba and Venezuela, seeking to ratchet up U.S. pressure on Havana to end its support for Venezuela's socialist president, Nicolas Maduro. President Donald Trump's decision, which the State Department said could unleash hundreds of...

  • NEW YORK, April 17- The greenback weakened against the euro on Wednesday as better-than-expected economic growth data in China bolstered risk appetite and a day ahead of the release of closely watched economic data for the euro zone. Risk sentiment seems to have improved overnight on the back of the strong Chinese data, said Shaun Osborne, chief FX strategist at...

  • *China goods trade deficit drops 28.2 percent. WASHINGTON, April 17- The U.S. trade deficit fell to an eight-month low in February as imports from China plunged, temporarily providing a boost to President Donald Trump's "America First" agenda and economic growth in the first quarter. Economists warned the trade deficit would remain elevated regardless of...

  • *China Q1 GDP up 6.4 pct vs analysts' expectations of 6.3 pct. April 17- Gold eased on Wednesday, holding near the 2019 lows touched in the previous session, as economic growth data from China assuaged concerns about global growth and drove investors into riskier assets. "The pretty good Chinese data implies the concerns of a slowdown in global growth have been...

  • April 17- Gold fell on Wednesday, holding near the 2019 lows touched in the previous session, as robust economic data from China assuaged concerns about global growth and drove investors to riskier assets. Spot gold was down 0.1 percent to $1,274.73 per ounce at 10:27 a.m. EDT GMT, having fallen as much as 1.2 percent to $1,272.70, its lowest since Dec. 27, on Tuesday.

  • NEW YORK, April 12- The dollar weakened against the euro as the common currency climbed in a move dealers said may have been driven by anticipated currency demand arising from a Japanese bank's plans to purchase a German multi-billion dollar aviation finance business. Signs of economic stabilization in China and a strong start to U.S. corporate earnings...

  • NEW YORK, April 12- The dollar slipped on Friday to its lowest against the euro in more than two weeks on reports a foreign bank was preparing to fund an acquisition of a European company, while signs of economic stabilization in China and a strong start to U.S. corporate earnings season boosted demand for riskier assets. Speculators were buying the euro in...

  • "The market tone appears somewhat tentative and oil prices are softening modestly from their recent highs," Shaun Osborne, chief FX strategist at Scotiabank in Toronto, said in a note. Oil prices fell nearly 2 percent on Thursday after sources said OPEC might raise output from July if Venezuelan and Iranian supplies fall further and prices keep rallying.

  • WASHINGTON, April 10- U.S. consumer prices increased by the most in 14 months in March, but the underlying inflation trend remained benign amid slowing domestic and global economic growth. The mixed report from the Labor Department on Wednesday was broadly supportive of the Federal Reserve's decision last month to suspended its three-year campaign to raise...

  • NEW YORK, April 8- Uber Technologies Inc believes it will take a long time for self-driving cars to be used at scale but the technology will save lives, the chief scientist at its self-driving car unit said on Monday. Raquel Urtasun, who is chief scientist at Uber Advanced Technologies Group and heads the group's unit in Toronto, spoke at a Reuters Newsmaker...

  • *Platinum hits highest since May 2018 at $914.74/ oz. Spot gold was up 0.7 percent at $1,300.11 an ounce at 10:04 am EDT after rising as much as 1 percent to $1,303.61 per ounce, its highest since March 28. A combination of all these factors have moved gold into the $1, 300 s, "said Bart Melek, head of commodity strategies at TD Securities in Toronto.

  • April 4- Goldcorp shareholders approved Newmont Mining Corp's $10 billion takeover offer on Thursday, removing one of the last remaining hurdles to create the world's largest gold producer. The deal, which would create a company with assets in the Americas, Africa and Australia, will be voted on by Newmont shareholders next Thursday. Vancouver- based Goldcorp...

  • *Italy likely to cut growth forecast. NEW YORK, April 4- The euro dipped on Thursday as weak German economic data and a report that Italy would slash its growth forecasts prompted fears about weakening growth in the region. Sentiment at major exporting countries including Germany, South Korea and China has been deteriorating, Osborne said.

  • NEW YORK, March 31- Wall Street will be watching next week's economic data with a laser focus after a dismal February jobs report and recessionary warning signals from U.S. After the longest U.S. government shutdown on record, bad weather and a late 2018 equities sell-off muddied market participants' view on the U.S. economy in recent months, they are hoping for a...

  • The company forecast revenue growth of 23-27 percent for the year, implying total revenue of between $1.13 billion and $1.16 billion. Analysts on average were expecting $1.09 billion, according to IBES data from Refinitiv. BlackBerry, which dominated the smartphone market nearly a decade ago before losing out to Apple Inc's iPhones and Android devices, has...

  • Spot gold was down 0.5 percent at $1,313.82 per ounce as of 13:55 p.m. EDT, after hitting its highest since Feb. 28 at $1,324.33 on Monday. U.S. gold futures settled down 0.6 percent to $1,315 per ounce. "The trend of the U.S. dollar has reversed a little bit and at the same time there was a bounce back from the lows across yield curves," said Bart Melek, head of commodity...

  • NEW YORK, March 22- Speculators raised their net long bets on the U.S. dollar to a new 2019 high in the latest week, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $29.48 billion in the week ended March 19, up slightly from $29.34 billion in the previous week.