World News

Gold Prices Show Substantial Move To The Downside

Kuwait says talks with Saudi regarding Neutral Zone are continuing

CAIRO (Reuters) – Kuwait’s deputy foreign minister Khaled al-Jarallah said on Tuesday that positive consultations with Saudi Arabia regarding the Neutral Zone are continuing, and “they are looking forward to the final signing as soon as possible”.

The two countries halted output from the jointly run oilfields in the so-called Neutral Zone more than three years ago, cutting some 500,000 barrels per day or 0.5 percent of global oil supply.

Castro lays off staff in NH, SC; nets new Texas endorsements

After what he called a successful October fundraising scramble to remain in the presidential race, former Housing and Urban Development Secretary Julián Castro has laid off staff in New Hampshire and South Carolina while landing new endorsements in his home state of Texas.

Castro’s spokesperson Sawyer Hackett would not describe what exactly the campaign’s presence would be in the the two early voting states moving forward, but acknowledged its “teams in SC and NH are very small compared to others.” And that it is “just focusing on Iowa and Nevada and Texas” and not laying off those staff.

The news of the layoffs arrive with a positive turn for the former mayor of San Antonio who landed several endorsements from Texas Democrats who previously supported El Paso-native Beto O’Rourke until he ended his presidential bid last week.

The Castro team is also releasing a new ad in Iowa. The 30-second spot highlights some of his most recent policy releases and glowing headlines surrounding them.

The campaign hopes the ad can boost his polling in Iowa and propel him to a debate appearance before the end of the year. He has met the 165,000 donor threshold, but has not landed any qualifying polls for November debate. He has been polling between 0% and 2%.

Uber stock falls to new low after earnings, ahead of lockup expiration

Uber Technologies Inc. UBER, -9.85% shares declined to their lowest closing price on record Tuesday, after the company reported yet another quarterly loss of more than $1 billion and ahead of a lockup expiration that could release millions of new shares to the market. Uber stock declined 9.9% to $28.01 Tuesday on volume of 51.7 million, Uber’s third-highest volume for a single session and roughly five times the 30-day average volume of 10 million shares traded. Uber revealed increasing sales and losses from a year ago in an earnings report after the market closed Monday, which analysts said especially exhibited concerns about the food-delivery business. Uber employees and early investors are allowed to begin trading shares Wednesday after being blocked from trading shares for six months after the IPO. Uber went public in May at $45 a share, and has closed higher than that price only twice in its time as a public company.

Crude Oil Prices Continue To Climb

Crude oil prices extended recent gains on Tuesday amid continued optimism about the outlook for global demand.

West Texas Intermediate crude oil for December delivery advanced $0.69 or 1.2 percent to $57.23.

Traders continue to be hopeful for a U.S.-China trade deal as President Donald Trump and Chinese President Xi Jinping are widely expected to sign phase one of an agreement sometime this month.

As part of the deal, the U.S. is likely to scrap tariffs on about $156 billion worth of Chinese imports currently set to take effect on December 15.

A report from the Financial Times said the U.S. is also considering China’s request to lift the 15 percent tariff on about $125 billion worth of Chinese goods that went into effect on September 1.

Courtney B. Vance Named SAG-AFTRA Foundation President, Succeeding JoBeth Williams

Courtney B. Vance has been named president of the SAG-AFTRA Foundation, succeeding JoBeth Williams, who will retire after 10 years in the post. The transition will take place at the Foundation’s fourth annual Patron of the Artists Awards on Thursday at the Wallis Annenberg Center for the Performing Arts in Los Angeles.

Vance will begin his tenure with the launch of the foundation’s first ever Entertainment Industry Council, which will advise the foundation on its work to support performers in all stages of their career. It will work in partnership with the foundation’s Actors Council, whose members serve as advisors and supporters.

Vance, who is married to actress Angela Bassett, is an Emmy- and Tony award-winning actor who has garnered numerous nominations, including SAG and Golden Globe nominations, for his performance as Johnnie Cochran in the FX series The People vs. OJ Simpson: American Crime Story. He most recently appeared alongside Julia Roberts and Lucas Hedges in Lionsgate and Roadside Attractions’ Ben is Back, and stars in the upcoming HBO drama horror series Lovecraft Country.

Variety had the Vance news first today.

Gold Prices Show Substantial Move To The Downside

Risk is back on as gold prices retreated for a second session on Tuesday and the dollar traded higher, thanks to renewed optimism over U.S.-China trade talks.

Investor sentiment received a boost after the Financial Times reported that the U.S. is considering dropping tariffs on $112 billion worth of Chinese imports.

Gold futures for December delivery plunged $27.40 or 1.8 percent to $1,483.70 an ounce after edging down $0.30 an ounce on Monday.

According to reports, U.S. President Donald Trump is eager to sign the trade agreement somewhere in the U.S. after Chile canceled the Asia-Pacific Economic Cooperation summit due to local unrest.

Trump and Chinese President Xi Jinping are expected to meet in the U.S. soon to sign the first phase of a trade deal between the world’s two largest economies.

The U.S. dollar was close to its highest in almost a week against a basket of rivals after recent data suggested the outlook for the world’s largest economy is not as bad as some had feared.