Month: February 2020

(Bloomberg) — Renewed fears that the coronavirus will harm global growth rocked commodity markets again on Monday, with oil and metals prices tumbling while gold soared toward $1,700 an ounce amid a global flight to haven assets.As the deadly virus spreads more widely outside China, raising the threat of a global pandemic, finance chiefs and central bankers from the world’s largest economies said they see downside risks to the world economy persisting.That’s spurring fresh alarm in commodity markets that had started to recover from lows hit earlier in the month when China’s virtual shutdown threw supply chains into chaos. With …read more […]

Deutsche Bank Aktiengesellschaft (ETR:DBK) received a lot of attention from a substantial price increase on the XTRA… …read more […]

Feb.23 — China’s debt-laden property developers are facing a cash crunch as the coronavirus outbreak brings the real estate market to its knees. The ramification are potentially huge for the overall economy, with the property sector directly accounting for about 7% of China’s GDP. Bloomberg’s Katrina Nicholas reports on “Bloomberg Markets: Asia.” …read more […]

Feb.23 — Mark Vassella, managing director and chief executive officer at Bluescope Steel, the impact of coronavirus on the business, demand from China and his outlook for China’s economy. He speaks on “Bloomberg Markets: Asia.” …read more […]

U.S. gold futures rose 1% to 1,664.60. “The thinking is that fewer people are holding shares, selling down in particular, and that money has to fall into havens,” said Michael McCarthy, chief market strategist at CMC Market. Lower interest rates reduce the opportunity cost of holding non-yielding bullion. …read more […]

Argentine beef exports to its top buyer China fell almost a third in January due to a price dispute with Chinese importers and the effects of a coronavirus outbreak, the head of the South American country’s meat export chamber told Reuters. Soaring demand from China last year saw sales of Argentine frozen boneless beef double to 408,500 tonnes, worth around $2 billion, official data show. China bought three-quarters of Argentine beef exports, with buyers willing to pay a premium amid a shortage of pork. …read more […]

…read more […]

Teck Resources Ltd has withdrawn the application for its C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, the company said on Sunday, days before the federal government was to decide on whether to approve the controversial project. Teck said it would write down the C$1.13 billion carrying value of the project. …read more […]

Paul Gigot interviews former Attorney General Michael Mukasey. Image: Erik S. Lesser/Shutterstock …read more […]

Paul Gigot interviews former Attorney General Michael Mukasey. Image: Erik S. Lesser/Shutterstock …read more […]

Feb.23 — UniCredit SpA CEO Jean Pierre Mustier is said to have ruled himself out of the running for the top job at HSBC. Mustier had emerged as the main external contender for the role against HSBC interim CEO Noel Quinn. Bloomberg’s David Scanlan reports on “Bloomberg Markets: Asia.” …read more […]