Dr. Doom warns coronavirus will shock Chinese economy

Coronavirus will slow US GDP growth: Economist Roubini Macro Associates CEO Nouriel Roubini discusses the economic impact of the coronavirus. The economist nicknamed Dr. Doom for his dire, but accurate, predictions says the coronavirus outbreak will rock the Chinese economy and send shockwaves to the U.S. and rest of the world. Continue Reading Below The disease, which originated in Wuhan, China, […]

Read more

Banco Safra creates proprietary alternative investments division

SAO PAULO, Feb 21 (Reuters) – Brazil’s fourth-biggest private-sector lender Banco Safra SA has created a new division to manage alternative proprietary investments, the bank confirmed on Friday. Safra hired Andre Laloni, former director at development bank BNDES and former chief financial officer at state lender Caixa Economica Federal as the head of the new division, a Safra press representative […]

Read more

Teck Tumbles After Cutting Steelmaking Coal Target Amid Virus

Teck Resources Ltd. dropped the most in three years after cutting its forecast for steelmaking coal as extreme weather and rail blockades disrupted output at a time when the coronavirus outbreak is threatening demand. The Vancouver-based company will temporarily reduce production and shut down its Neptune shipping terminal, it said Friday in its quarterly earnings report. The move will help […]

Read more

U.S. Existing-Home Sales Remain Solid Amid Scarce Inventory

Sales of previously owned U.S. homes remained robust in January as low borrowing costs and higher wages continue to make purchasing more attainable. Contract closings eased 1.3% from the prior month to a 5.46 million annual rate, according to National Association of Realtors data released Friday that slightly exceeded the median estimate in Bloomberg’s survey. The median sales price climbed […]

Read more

Mom and Pop Are On Epic Stock Buying Spree Fueled by Free Trades

Small investors are back. In a big way. Their fingerprints are on Apple Inc.’s staggering rally. They piled into Tesla Inc. as it tripled, and turned speculative fliers like Virgin Galactic Holdings Inc. into some of the most heavily traded shares in the country. Why the enthusiasm? Some see a link to decisions by brokerages to cut commissions on trades […]

Read more

Allianz fourth-quarter net profit up 9.5%, higher than expected

MUNICH/FRANKFURT (Reuters) – German insurer Allianz (ALVG.DE) on Friday posted a better-than-expected 9.5% rise in net profit in the fourth quarter from a year earlier as it announced a more ambitious profit target for 2020. Net profit attributable to shareholders of 1.858 billion euros ($2.01 billion) compares with a consensus forecast here for 1.67 billion euros. It was up from […]

Read more

PRESS DIGEST- Financial Times – 21

Feb 21 (Reuters) – The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines HSBC narrows external search for chief to UniCredit boss on.ft.com/2HG9FZ1 T-Mobile and Sprint close to agreement on new deal terms on.ft.com/2umilkc Morgan Stanley agrees $13 bln deal to buy ETrade on.ft.com/2HJi2mk Overview […]

Read more

Could the market keep climbing for another decade?

London (CNN Business)Stocks keep reaching record highs. Goldman Sachs is worried that leaves investors vulnerable to surprises. The investment bank told clients this week that a near-term correction, in which the market slides at least 10% from a recent peak, “is looking much more probable.” The thinking: Equity markets look “increasingly exposed” to disappointing earnings growth due to the new […]

Read more

Gold futures head for highest level since mid-February 2013

Gold futures climbed Thursday morning, putting bullion on track to register a sixth straight gain as persistent worries about China’s coronavirus and a benign interest-rate environment provide a runway higher for the precious metal. Gold has climbed in tandem with the U.S. dollar, something that doesn’t usually occur as a stronger greenback can weaken the appeal for dollar-pegged safe haven […]

Read more
1 2 3 998