Month: July 2020

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Gold Futures Touch Record as Haven Demand Builds, Contract Rolls

July 27, 2020 admin Comments Off on Gold Futures Touch Record as Haven Demand Builds, Contract Rolls

(Bloomberg) — Gold futures traded at a record high as the dollar plunged and concerns about the global economy boosted demand for havens, while a contract roll provided a further boost to the metal’s rally.Bullion’s move came as a gauge of the dollar fell to the lowest in more than six months amid negative real rates in the U.S. and bets that the Federal Reserve will keep policy accommodative when it meets this week. Inflows into gold-backed exchange traded funds this year have surpassed a record set in 2009, with total holdings at an all-time high of more than 3,300 …read more […]

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SAP to float Qualtrics, partly unwinding $8 billion buy

July 27, 2020 admin Comments Off on SAP to float Qualtrics, partly unwinding $8 billion buy

Business software group SAP said on Sunday it planned to float Qualtrics, the U.S. specialist in measuring online customer sentiment, which it acquired in late 2018 for $8 billion. The move to float Qualtrics in the United States would partly unwind the final major acquisition of former Chief Executive Bill McDermott’s tenure and rebalance SAP back towards its German roots under successor Christian Klein. “SAP’s primary objective for the IPO is to fortify Qualtrics’ ability to capture its full market potential within Experience Management,” SAP said in a statement issued on Sunday night, referring to the Qualtrics …read more […]

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Christine Daley, Lehman’s Star Distressed Debt Analyst, Dies

July 26, 2020 admin Comments Off on Christine Daley, Lehman’s Star Distressed Debt Analyst, Dies

(Bloomberg) — Christine Daley, a veteran analyst who headed Lehman Brothers’ distressed debt team before the firm’s collapse in 2008, has died.The New York-based investment bank Seaport Global Securities LLC., Daley’s most recent employer, confirmed her death on Sunday. “The firm extends our deepest condolences to Christine’s family,” a spokesperson told Bloomberg News. No cause of death was given. Daley was born in July 1958, according to public records.“Christine was our star research analyst,” Jay McDermott, now the co-head of cross-asset at Cowen Inc., said of his time working alongside Daley at the brokerage firm Bear Stearns Cos. “The whole …read more […]

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Gold Still Chasing Its 2011 Record With Fed Set to Meet

July 26, 2020 admin Comments Off on Gold Still Chasing Its 2011 Record With Fed Set to Meet

(Bloomberg) — Spot gold heads into a busy week just shy of its 2011 record high, after posting a seventh consecutive weekly advance, the longest streak since the same year. Fueled by flaring U.S.-China tensions, mounting global growth concerns and the coronavirus pandemic, the metal seems poised for more gains as the Federal Open Market Committee begins its two-day meeting on Tuesday, with forecasts for no change to its benchmark rate. “When interest rates are zero or near zero, then gold is an attractive medium to have because you don’t have to worry about not getting interest on your gold …read more […]

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Moderna gets further $472 million U.S. award for coronavirus vaccine development

July 26, 2020 admin Comments Off on Moderna gets further $472 million U.S. award for coronavirus vaccine development

The U.S.-based drug maker said the additional funding will support its late-stage clinical development including the expanded Phase 3 study of Moderna’s vaccine candidate. In April, Moderna had received $483 million from the U.S. federal agency that funds disease-fighting technology, when the experimental vaccine was in an early-stage trial conducted by the U.S. National Institutes of Health. …read more […]