Oil rises amid hope for short economic hit from coronavirus outbreak

© Reuters. FILE PHOTO: Pump jacks operate at sunset in Midland By Aaron Sheldrick TOKYO (Reuters) – Oil prices rose on Wednesday, with Brent gaining a seventh straight day, amid broad optimism as new coronavirus cases fell for a second day in China and concerns rose over supply after a U.S. move to cut more […]

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Pound Climbs After Inflation Tempers Risk of a Rate Cut

(Bloomberg) — Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast. The pound rose after inflation accelerated, fueling expectation that the Bank of England will hold off lowering interest rates for the foreseeable future. Sterling cemented its position above $ 1.30, snapping two days of declines versus the dollar after annual inflation picked up […]

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Exclusive: G20 fin leaders see modest growth pick-up, coronavirus a risk – draft communique

© Reuters. Exclusive: G20 fin leaders see modest growth pick-up, coronavirus a risk – draft communique BRUSSELS (Reuters) – Financial leaders of the world’s 20 largest economies (G20)expect a modest pick-up in global economic growth this year and next, but the coronavirus epidemic is a downside risk, a draft communique prepared for the meeting on […]

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Oil Stalls After Rosneft Sanctions Offset Virus-Led Demand Fears

(Bloomberg) — Oil ended Tuesday’s session flat after American sanctions on Russia’s largest oil producer helped to erase losses driven by lingering concerns that coronavirus will cut demand. The U.S. sanctioned a unit of Russia’s Rosneft PJSC for maintaining ties with Venezuela’s Nicolas Maduro and its state-run oil company. The restrictions come with a three-month […]

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“Unintentional Rigging” in China’s Coronavirus Figures

The outbreak of the Wuhan flu has once again convinced the Chinese government that it is now totally inappropriate time to wage war or retaliate. The government decided to spur economic activity by easing import restrictions – on Tuesday it was officially announced that tariffs on 696 goods importing from the United States will be […]

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Boeing finds debris in 737 MAX jetliners: company memo

By Eric M. Johnson SEATTLE (Reuters) – Boeing Co (N:) found debris that could pose potential safety risks in the fuel tanks of several 737 MAX aircraft that are in storage and waiting to be delivered to airlines, according to an internal memo seen by Reuters on Tuesday. Foreign object debris, an industrial term for […]

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US stocks end the session with mixed results.

NASDAQ is a record close The major indices all opened sharply lower on the overnight news that Apple earnings and revenues would be lower as a result of the coronavirus.  However, although the S&P and Dow remained in the red, the NASDAQ index eked out a small gain which was also good enough for a new record close. The final numbers […]

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