Gold prices recovered some ground on Friday, paring some of their losses from their worst day in nearly two months on Thursday, as markets finished off a rollercoaster week on a more subdued note. Price action Gold for December delivery GC00, -1.15% GCZ23, -1.15% rose $6, or 0.3%, to settle…

Key News Asian equities had a positive day on light volumes. Mainland China and Hong Kong posted gains on light volumes ahead of China’s weeklong holiday starting on Friday. Markets jumped on the release of August industrial profits, rising +17.2% year over year versus July’s -6.7%, in another sign that…

Oil prices settled higher on Friday to post a modest gain for the week, following Russia’s decision a day earlier to temporarily ban the export of diesel and gasoline, which has pushed up prices in Europe.Price action West Texas Intermediate crude futures for November delivery CL00, +1.71% CLX23, +1.71% edged up…

Financial services provider Old Mutual rose on Wednesday as it predicted further sales growth following a resilient first-half performance. At 54p per share, Old Mutual’s share price was last 4.7% higher in midweek business. Revenues at the company — a major player in South Africa’s life insurance market — rose…

By Ben Glickman Mach Natural Resources has filed for an initial public offering with the Securities and Exchange Commission. Mach didn’t say Friday how many shares it would offer or give an anticipated price range. It has applied to list on the New York Stock Exchange under the ticker MNR.…

The latest Tesla TSLA (TSLA) production and delivery data is out, and it is far below expectations. This is what the numbers mean for investors. Tesla built 1.37 million electric vehicles during 2022, a significant miss to its internal target of 50% growth. Worldwide deliveries during the quarter also fell…

By Ben Glickman Rite Aid is negotiating a bankruptcy plan which would involve closing roughly 400 to 500 stores, The Wall Street Journal reported Friday. People familiar with the conversations between Rite Aid and creditors said the bondholders would like to liquidate a larger number of pharmacy locations. Southwest Gas…

Earlier this month I interviewed exiled Crown Prince Reza Pahlavi to discuss what’s happening in Iran. You can watch the 25 minute video here. We cover a lot of topics mostly to do with economics. The first thing I asked was what had changed since we last spoke five years…

By Ben Glickman NCR Corp. says it board of directors approved the timing of the spinoff of its ATM-focused business in mid-October through a distribution of the stock of NCR Atleos Corp held by the company to current shareholders. The Atlanta-based technology services company said Friday that NCR Atleos would…

With a government shutdown potentially starting on October 1, here’s what to expect. Despite the term “shutdown,” many government functions will remain fully operational due to being deemed essential or having a separate budget process. However, other government functions will shut down or have limited operations. This means that a…