European stocks notch new highs as Daimler earnings lift carmakers

(Reuters) -European stocks hit a record high on Friday after strong U.S. and China data spurred optimism about a speedy global recovery, while strong results from Germany’s Daimler boosted carmakers.FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 14, 2021. REUTERS/StaffThe pan-European STOXX 600 index rose 0.3%. The German DAX […]

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China's GDP hits record growth but post-COVID recovery seen losing steam

BEIJING (Reuters) – China’s economic recovery quickened sharply in the first quarter to record growth of 18.3% from last year’s deep coronavirus slump, propelled by stronger demand at home and abroad and continued government support for smaller firms.Buildings in the Central Business District (CBD) are seen lit up during the night in Beijing, China April 15, 2021. REUTERS/Tingshu WangBut the […]

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Treasury yields rebound but still below recent highs

U.S. retail sales jumped 9.8% in March, according to data released Thursday by the Commerce Department. The Labor Department reported that there were 576,000 new jobless claims filed for the week ended April 10. There are no auctions scheduled to be held Friday. U.S. Treasury yields rebounded on Friday morning, with the 10-year rate having fallen to 1.53% in the […]

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South Korean consortium to produce 100 million doses a month of Russia's Sputnik V vaccine

FILE PHOTO: Bottles of Russia’s “Sputnik-V” COVID-19 vaccine are seen before inoculation at a clinic in Tver, Russia, October 12, 2020. REUTERS/Tatyana MakeyevaSEOUL (Reuters) – South Korea’s Huons Global Co Ltd said on Friday it will lead a consortium to produce 100 million doses of Russia’s Sputnik V COVID-19 vaccine per month as Moscow ramps up production for supplies abroad. […]

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China's refinery output up nearly 20% on demand recovery

BEIJING/SINGAPORE, April 16 (Reuters) – China’s daily crude oil throughput surged 19.7% in March from a year earlier, as refiners ramped up operations to meet robust fuel demand and to build up inventory before shutting down for overhaul. China processed 59.79 million tonnes of crude oil last month, data issued by the National Bureau of Statistics (NBS) showed on Friday. […]

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A Wall Street expert breaks down why Coinbase’s ‘ridiculously high’ valuation should be 71% lower — and warns that the frenzy around the new stock is yet another example of why the broader market is in a bubble.

Shares of Coinbase have been volatile since going public on Wednesday. New Constructs’ David Trainer said its valuation should be 71% lower than current levels. Trainer also said speculation around the stock is another indication of a broader bubble. See more stories on Insider’s business page. The direct listing of Coinbase, a cryptocurrency trading platform, hasn’t disappointed in terms of […]

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Elon Musk's SpaceX raises $1.16B in equity financing

Pindel Global and SpaceX partner to build ventilators amid COVID Connell McShane on businesses pivoting Elon Musk's SpaceX has raised roughly $1.16 billion in equity funding, according to an amended filing with the Securities and Exchange Commission. FORMER SPACEX EXEC VYING TO BECOME ‘HENRY FORD OF SPACE’ RAISES $5M TO MASS PRODUCE ROCKETS The filing follows a nearly $850 million […]

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France's COVID-19 death toll breaches the 100,000 casualty mark

FILE PHOTO: A general view shows people registering to get a dose of the “Comirnaty” Pfizer BioNTech COVID-19 vaccine at the Parc des Expositions in Angers as part of the coronavirus disease (COVID-19) vaccination campaign in France, April 13, 2021. REUTERS/Stephane MahePARIS (Reuters) – France’s COVID-19 death toll rose on Thursday to reach more than 100,000 casualties, according to the […]

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