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Shares rise as China’s Xi backs away from trade war

European shares rose on Tuesday after Chinese president Xi Jinping promised to cut import tariffs, fuelling optimism that a trade war between his country and the US could be averted. Gains were widespread, with the STOXX 600 closing up 0.82 per cent, slightly below Wall Street, where the S&P 500 was up 1.8 per cent […]

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Fang stocks drag US indices, Asian shares hit hard

Asian shares fell on Wednesday after Wall Street was knocked hard by concerns about tighter controls on the tech industry, denting a brief global equities recovery driven by hopes that the risk of a US-China trade war was easing. They extended losses further after China’s state-run Global Times reported China will soon announce a list […]

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Sell-off in tech stocks eases as investors mull earnings growth

A sell-off in technology shares that began Monday in Asia and picked up pace in the US began to ease Tuesday, as investors mull the potential for weaker earnings growth among companies that have led gains over the past year. Stocks came off their lows of the day in Tokyo, and were up in Seoul […]

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Bitcoin ‘totally asinine’, Buffett lieutenant Munger says

There cannot be many nonagenarians who spend their time worrying about cryptocurrencies. But Charlie Munger, the 94-year-old billionaire investor, is convinced that bitcoin is “noxious poison”. “I regard the bitcoin craze as totally asinine,” he told a packed hotel ballroom in downtown Los Angeles, where hundreds of what he called “groupies” gathered for what some […]

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Warren Buffett sidekick Munger calls bitcoin ‘totally asinine’

There cannot be many nonagenarians who spend their time worrying about cryptocurrencies. But Charlie Munger, the 94-year-old billionaire investor, is convinced that bitcoin is “noxious poison”. “I regard the bitcoin craze as totally asinine,” he told a packed hotel ballroom in downtown Los Angeles, where hundreds of what he called “groupies” gathered for what some […]

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Chris Johns: Is this time really different for stock markets’ bull run?

It is beyond cliché to point out that the most dangerous words in finance are: “This time is different.” But, like many a cliché, it happens to be true. There are numerous examples of claims about difference preceding a stock market slump or any one of several types of financial crisis. Perhaps the most famous […]

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Banks lead European markets higher

The Stoxx Europe 600 Index advanced with banks outperforming after US Fed Federal Reserve chairwoman Janet Yellen’s proposed replacement, Jerome Powell, signalled that he would not add to financial regulations. Retailers got a leg up after the strongest euro-zone confidence data since 2000 underscored the region’s economic resilience. Core European bonds fell and the euro […]

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Norway’s $1 trillion wealth fund steps up ‘No’ votes on executive pay

Norway’s $1 trillion sovereign wealth fund has increased the number of votes against management compensation proposals in the companies it invests in. According to Carine Smith Ihenacho, its global head of ownership strategies, the fund has been proactive since releasing its position paper in April, aiming to curb excessive and opaque top-management pay in firms. […]

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