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The US dollar index (DXY) have been trading steadily over the last few days, after climbing to 97.41 on 25 June, due to safety buying as fears grew over a rapid rise in coronavirus infections across some US states. The American currency, which is considered a safe harbor during times of economic turbulence, had been…
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Legendary Activist investor and founder of ValueAct Capital, a $16bn hedge fund, Jeff Ubben (pictured) has left to launch a new environmental and social impact investment company. Ubben’s departure from ValueAct, founded in 2000, comes after a years-long transfer of power. He handed off the chief investment officer job in 2017 and the chief executive…
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Analysts are bullish on digital payment processing firms such as Square and Discover Financial Services. But at the same time, some are bearish on established payment companies. UBS has downgraded American Express to a sell as it sees a slow recovery for the company. Oppenheimer has downgraded Mastercard to market perform. Warren Buffett’s Berkshire Hathaway…
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Blackstone Group’s Steve Schwarzman (pictured) sees a V-shaped economic recovery from the coronavirus pandemic. The global economy tanked in April and May due to the shutdowns due to the pandemic. Now, as economies have reopened and many business activities have resumed, there has been a revival in the global economy. Schwarzman, cofounded Blackstone, the world’s…
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Charles Day, managing director and wealth advisor at UBS, has warned rich investors they should avoid exotic and hot stocks, citing the big risks associated with investing in little-known firms. “The stocks that I hadn’t heard of three months ago all of a sudden are the most active — that’s not where investors go, that’s…
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In recent years, spread betting in the UK has continuously grown in popularity among traders. Millennials and other younger generations looking to invest show a preference for leveraged products like spread bets and contract for differences (CFDs) as a major part of their investment. The reason for this is quite simple. In addition to offering traders…
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This year gold prices have rallied as a result of of disrupted supply chains and closed down economies due to the global coronavirus pandemic and rising tensions between the US and China. Now, gold ETFs are gaining momentum as a hedge against the potentially overbought stock market, some traders say. Stocks rebounded early on Friday…
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Gold prices posted mixed results after the US Federal Reserve said it would continue buying Treasuries and mortgage-backed bonds at an accelerated rate, citing concerns about the strength of America’s economic recovery. The price of gold took a jump during Fed chairman Jerome Powell’s (pictured) speech, moving from $1,713 to an intraday peak of $1,740…
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The Nasdaq Composite index closed above 10,000 points for the first time on Wednesday, even as the Federal Reserve warned that the US recovery from the coronavirus recession “is going to take some time”. The tech-laden index ended the day at a record 10,020.35, led by share trading in heavyweights such as Apple, Amazon, Microsoft…
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Morgan Stanley chief economist Chetan Ahya does not expect the US to back out of phase one trade deal with China. Earlier this month, the two countries agreed to phase one trade deal putting some of the contentious issues for the second phase. The phase one trade deal was preceded by a trade war between…
