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New York (CNN Business)Warren Buffett’s Berkshire Hathaway finally put some cash to work with its purchase of natural gas assets from Dominion Energy. The deal could spark a broader turnaround for the Oracle of Omaha. Berkshire Hathaway (BRKB) announced Sunday that it was spending nearly $10 billion on the Dominion (D) acquisition. Although that may sound massive, it’s just a […]
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JPMorgan's top long-term strategist is advising investors to "significantly reduce" their holdings of safe government bonds. He says the era of zero yields has arrived sooner than expected and will be here to stay for a while longer. He offers alternatives for investors who have traditionally relied on the 60/40 allocation split between stocks and bonds. Click here to sign […]
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Copper prices are likely to stabilize in the coming quarters despite a recent surge in the red metal's value, analysts have predicted. Three-month copper futures on the London Metal Exchange (LME) broke the $6,000-a-ton threshold by the end of June — a far cry from its low of around $4,626.50 at the height of Covid-19 fears in March. On Monday, […]
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* China’s copper smelters cut concentrate processing fees * Focus on Chile’s copper mining industry (Updates with official prices, adds comment) By Pratima Desai LONDON, July 6 (Reuters) – Copper prices climbed on Monday towards five-month highs hit last week on growing optimism about demand in top consumer China and concerns about the spread of COVID-19 in Chile, the world’s […]
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NYC’s low coronavirus rates due to masks, social distancing: Councilman NYC councilman Stephen Levin argues slowing down the reopening process is the right decision for New York City because ‘we want to protect what we have right now,’ pointing to the city’s current low coronavirus rates. (Reuters) – Regeneron Pharmaceuticals Inc said on Monday it began late-stage clinical trials to assess […]
Read more * Graphic: World FX rates in 2020 tmsnrt.rs/2RBWI5E * Dollar/yen hugs narrow trading range * Coronavirus infections remain a threat to currencies * Aussie in focus before Reserve Bank of Australia meeting By Thyagaraju Adinarayan LONDON, July 6 (Reuters) – The Chinese yuan led commodity currencies higher against the dollar on Monday as investors lapped up risky assets on growing […]
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Economic recovery began in May: Anthony Chan Former JPMorgan Chase & Co. chief economist Anthony Chan says while the June jobs report is positive news, there are still a record 19.5 million Americans who are still collecting unemployment benefits due to the coronavirus pandemic. U.S. equity futures are indicating a higher open when Wall Street resumes trading on Monday, following […]
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U.S. stock index futures rose in Asia on Monday as investors focused on the prospects for an expansion of economic stimulus to help counter the impact of the spreading global pandemic. September contracts on the S&P 500 rose 0.9% as of 11:12 a.m. in Tokyo, after an advance of 4.1% last week. Futures on the Dow Jones Industrial Average rose […]
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Domestic investors, led by lenders, are piling into Indian bonds on optimism the central bank stands ready to soak up a record debt supply. That’s pitting them against foreigners who continue to sell the nation’s debt. Banks raised their holdings of sovereign notes to 41.4 trillion rupees ($555 billion) on bets the Reserve Bank of India will take measures to […]
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Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day: The world economy is entering the second half still deeply weighed down by the pandemic with a full recovery now ruled-out for this year and even a 2021 comeback dependent on a lot going right A mass exodus of workers that […]
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