Petrobras shares slump as Brazil’s Bolsonaro doubles down on intervention

© Reuters. FILE PHOTO: A logo of Brazil’s state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro By Sabrina Valle and Gram Slattery RIO DE JANEIRO (Reuters) – Petrobras shares plunged 22% on Monday, wiping out 71 billion reais ($ 13 billion) in market value, as Brazilian President Jair Bolsonaro again […]

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Airlines set to lose $157 billion amid worsening slump: IATA

© Reuters. FILE PHOTO: An airplane from Turkish Airlines prepares to land at Cointrin airport in Geneva PARIS (Reuters) – Airlines are on course to lose a total $ 157 billion this year and next, their main global body warned on Tuesday, further downgrading its industry outlook in response to a second wave of coronavirus […]

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Euro Shrugs Off Strong Growth in Germany, Heads for Two-Month Slump

© Reuters. By Yasin Ebrahim Investing.com – The euro fell sharply against the dollar Friday and is on course for a second straight month of declines for the first time since February, as investors fear strong quarterly economic growth in Germany will prove transitory as the spread of the virus gathers pace. fell 0.25% to […]

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Pound Set for 2nd-Straight Weekly Slump as No-Deal Brexit Fears Rise

© Reuters. By Yasin Ebrahim Investing.com – The pound is set for second-straight weekly slump on Friday, as no-deal Brexit fears persist after the U.K. Prime Minister Boris Johnson reportedly pushed ahead with a bill that would seek to override the withdrawal deal despite threats from the EU. fell 0.07% to $ 1.2738, and looked […]

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Australia turns to idled factories to pull it out of COVID slump

© Reuters. Undated handout photo of H2X Australia’s prototype vehicle SYDNEY (Reuters) – In 2017, the last car Australia built rolled out of a General Motors (NYSE:)’ plant in the city of Adelaide, ending seven decades of local automotive history and the belief that the country’s factories could ever compete globally. Three years later, policymakers […]

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ForexLive European FX news wrap: Gold recovers from early slump, currencies more mixed

Forex news from the European trading session – 12 August 2020 Headlines: Markets: CHF leads, NZD lags on the day European equities a little higher; E-minis up 0.7% US 10-year yields up 2.6 bps to 0.668% Gold up 1.1% to $ 1,932.35 WTI up 1.5% to $ 42.22 Bitcoin up 2.4% to $ 11,475 There […]

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Dollar Set for Fourth-Weekly Slump as Surging Virus Cases Cast Doubt on Recovery

© Shutterstock By Yasin Ebrahim Invesing.com – The dollar looked set for a fourth-straight weekly loss on Friday, on weaker economic data and falling demand as rising cases cast doubts on the U.S. economy’s ability to bounce back faster than that of its rivals, experts warn. The , which measures the greenback’s strength against a […]

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Dollar Falls Sharply as Slump Continues, But Dark Days to End Soon, BofA Says

© Reuters. By Yasin Ebrahim Investing.com – The dollar fell sharply on Monday as better-than-expected U.S. services data strengthened investor expectations for speedier economic recovery, but some on Wall Street expect the greenback to regain its footing. The , which measures the greenback against a trade-weighted basket of six major currencies, fell by 0.62% to 96.69. […]

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ConocoPhillips swings to loss on oil price slump, impairments

© Reuters. FILE PHOTO: The logo for ConocoPhillips is displayed on a screen on the floor at the NYSE in New York (Reuters) – U.S. oil and gas company ConocoPhillips (NYSE:) swung to a first quarter loss on Thursday as it took big hits from impairments and the falling value of its stake in Canadian […]

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