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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, […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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SEOUL, Feb 21 (Reuters) – South Korean exports rose 12.4% in the first 20 days of February from a year earlier, customs data showed on Friday, though shipments to China fell as a coronavirus outbreak there upended supply chains and hit global demand. Exports to China, where the virus is believed to have originated, slid 3.7% year-on-year in the 20-day […]
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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 […]
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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 […]
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