Peter Russell

Beirut death toll rises to at least 135 as explosion is blamed on 2,750-ton ammonium nitrate stash

5 years ago

The explosion, which blew out windows and destroyed property for miles around, has been initially blamed on 2,750 tons of ammonium nitrate stored in an unsecured warehouse at Beirut’s cargo port.
But the government subsequently announced an investigation to determine within five days the exact cause of the explosion and “who was responsible.”
The immediate crisis in homelessness, health, overwhelmed medical services and destroyed property and businesses comes on top of an already crippled economy, the coronavirus pandemic and regional tensions.

Uncategorized

Sweden’s second-quarter GDP fall was its worst in modern history — but outperformed many in Europe

5 years ago

Sweden’s gross domestic product (GDP) tumbled 8.6% in the second quarter of the year.
David Oxley, senior Europe economist at Capital Economics, told CNBC via email that Sweden’s sharp GDP contraction “confirms that it has not been immune to Covid, despite the government’s well-documented light-touch lockdown.”

Editor's Pick

Ireland’s finance chief is still optimistic on a digital tax deal despite US backlash

5 years ago

The United States shocked European nations earlier this month when it pulled out of international negotiations over such a tax.
The United States has been a fierce opponent of plans to make digital giants pay more in taxes, as the majority of these firms are American. It is the White House’s view that digital taxes are unfair toward U.S. companies.

Editor's Pick

The UK is in ‘pole position’ for market recovery despite gloomy economic outlook, UBS says

5 years ago

U.K. GDP saw its sharpest contraction since 1979 in the first quarter, and the balance-of-trade deficit widened to £21.1 billion ($26.4 billion).
U.K. stocks currently trade at a 19% discount to the MSCI World index, versus an average of 7% since 2002, UBS strategists pointed out in a research note Wednesday.
S&P Global has cut its forecast for U.K. GDP in 2020 to an 8.1% contraction, warning of a “perfect storm” if Britain suffers a second wave of coronavirus infections and fails to negotiate a post-Brexit free trade agreement.

Airline stocks soar after GOP senators push for $25 billion in additional industry aid

5 years ago

The senators’ backing adds weight to a proposal for additional aid for the ailing airline sector.
Congress set aside $25 billion in aid for passenger airlines the $2.2 trillion CARES Act in March.

Gold just hit a fresh record high — but some say silver is set to overtake

5 years ago

The blasts in Beirut, which killed dozens and wounded thousands, “probably (added) to the shine of Gold above $2020,” said a note from Mizuho Bank.
This year, gold prices have shot to record highs since September 2011, as investors fled to safe havens with the pandemic showing no signs of abating and a crashing economy. Silver prices have followed suit.

Breaking News

Japan up 3% as Asia stocks jump following overnight Wall Street comeback

5 years ago

In the Reserve Bank of Australia’s minutes of its June monetary policy meeting released Tuesday, the central bank’s board “recognised that the substantial, coordinated and unprecedented easing of fiscal and monetary policy in Australia was helping the economy through this difficult period.”

Breaking News

WHO calls for more ‘systematic, exhaustive investigation’ on clusters in response to Beijing outbreak

5 years ago

Officials in China’s capital city reported a total of 79 confirmed cases of Covid-19 since June 11.
“The answers lie in careful, systematic, exhaustive investigation of disease clusters to really look at what is happening in these situations and what is causing the amplification of the disease in the human context,” said the WHO’s Dr. Mike Ryan.
As many countries around the world grapple with a resurgence of new Covid-19 cases, Dr. Maria Van Kerkhove said, health officials need to be on alert.

Uncategorized

Former Malaysian PM Najib Razak sentenced to 12 years in jail, fined $50 million over 1MDB scandal

5 years ago

Former Malaysian Prime Minister Najib Razak has been sentenced to 12 years in jail after being found guilty on all seven charges in a case linked to the multi-billion dollar financial scandal at state fund 1MDB.

Uncategorized

Bullish options traders bet on big payout when Visa reports earnings

5 years ago

The busiest week of earnings season rolls on when Visa reports after the bell Tuesday, and options traders are betting on a big payoff when the payment giant’s results cross the wire.

The Dow component’s shares are up nearly 6% on the year thanks to a 35% bounce off the March lows, paving the way for what traders believe will be an earnings report that surprises to the upside.

Peter Russell

Beirut death toll rises to at least 135 as explosion is blamed on 2,750-ton ammonium nitrate stash

Sweden’s second-quarter GDP fall was its worst in modern history — but outperformed many in Europe

Ireland’s finance chief is still optimistic on a digital tax deal despite US backlash

The UK is in ‘pole position’ for market recovery despite gloomy economic outlook, UBS says

Airline stocks soar after GOP senators push for $25 billion in additional industry aid

Gold just hit a fresh record high — but some say silver is set to overtake

Japan up 3% as Asia stocks jump following overnight Wall Street comeback

WHO calls for more ‘systematic, exhaustive investigation’ on clusters in response to Beijing outbreak

Former Malaysian PM Najib Razak sentenced to 12 years in jail, fined $50 million over 1MDB scandal

Bullish options traders bet on big payout when Visa reports earnings

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