Gold climbs as U.S. data spurs risk aversion
By Jan Harvey
LONDON (Reuters) – Gold extended gains to session highs in Europe on Friday as risk aversion spurred by worse-than- expected U.S. GDP data and a weakening dollar lifted the metal from the two-week lows it hit earlier in the day.
Spot gold rose to $957.10/959.10 an ounce at 8:54 a.m. EST from $944.70 late [...]
UPDATE 3-Finlay to exit department stores, cut jobs
* To exit leased department store business
* To cut some administrative jobs
* To focus solely on specialty jewelry stores
* To close 40 unprofitable specialty stores (Adds restructuring details, company comment, paragraph 7)
By Mihir Dalal
BANGALORE, Feb 26 (Reuters) – Jeweler Finlay Enterprises (FNLY.OB), hurt by liquidity woes, is shutting [...]
UPDATE 2-Finlay to exit department stores, cut jobs
* To exit leased department store biz
* To cut some administrative jobs
* To focus solely on specialty jewelry stores
* To close 40 unprofitable specialty stores
By Mihir Dalal
BANGALORE, Feb 26 (Reuters) – Jeweler Finlay Enterprises (FNLY.OB), hurt by liquidity woes, is shutting its department store outlets over the [...]
As gold cools, its miners are the next hotspot
By Dominic Lau – Analysis
LONDON (Reuters) – The price of gold might again be testing record highs, driven by investors seeking shelter from the financial blizzard, but shares in companies mining the precious metal now look a better bet.
With financial markets tumbling and currencies crumbling, investors have fled to gold as a traditional safe haven [...]
UPDATE 2-Finlay to exit department stores, cut jobs
* To exit leased department store biz
* To cut some administrative jobs
* To focus solely on specialty jewelry stores
* To close 40 unprofitable specialty stores
By Mihir Dalal
BANGALORE, Feb 26 (Reuters) – Jeweler Finlay Enterprises (FNLY.OB), hurt by liquidity woes, is shutting its department store outlets over the [...]
UPDATE 1-Judge OK’s Fortunoff sale, liquidations to begin
*Liquidators win auction for Fortunoff
*Store closing sales to begin Wednesday (Adds court ruling, details on sale agreement, byline)
By Emily Chasan and Phil Wahba
NEW YORK, Feb 24 (Reuters) – A federal bankruptcy judge on Tuesday approved the sale of luxury retailer Fortunoff Holdings LLC to a group of seven liquidators, setting [...]
Fortunoff liquidation could begin this week
NEW YORK, Feb 24 (Reuters) – U.S. luxury retailer Fortunoff Holdings LLC could begin liquidating as early as Wednesday, after a group of six liquidators won a bankruptcy auction for the company on Monday, according to one of the liquidators.
Liquidators Great American Group, Hudson Capital, SB Capital, Tiger Capital, and jewelry liquidators Bobby [...]
Gold eyes new high above ОФИС-МЕНЕДЖЕР,000 as turmoil rages
By Jan Harvey and Frank Tang -Analysis
LONDON/NEW YORK (Reuters) – Gold may surge to a new record above СЕКРЕТУТКА,000 over the next few months, analysts say, as investors flock to bullion, seeking safety from financial market turmoil and a potential inflationary spiral.
Spot gold has rallied around $130 an ounce in the last month and climbed [...]
Gold eyes new high above СЕКРЕТУТКА,000/oz as turmoil rages
By Jan Harvey and Frank Tang – Analysis
LONDON/NEW YORK (Reuters) – Gold may surge to a new record above СЕКРЕТАРША,000 over the next few months, analysts say, as investors flock to bullion, seeking safety from financial market turmoil and a potential inflationary spiral.
Spot gold has rallied around $130 an ounce in the last month and [...]
Investor gold rush offsets slower jewel demand: WGC
By Simon Webb
DUBAI (Reuters) – Voracious hunger for gold-backed securities from investors looking for a shelter from recession should more than compensate slower jewelry buying from hard-up consumers, a World Gold Council (WGC) executive said on Monday.
Gold bullion topped СЕКРЕТУТКА,000 an ounce on Friday for the first time in nearly a year and has outperformed [...]