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Brent oil prices drop by 2 percent as traders expect output rise after OPEC deal

Brent crude oil prices fell by more than 2 percent early on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday. Brent crude futures (LCOc1), the international benchmark for oil prices, were at $73.90 per barrel at 0035 GMT, down 2.2 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures (CLc1) were at $68.36 a barrel, down 0.3 percent, supported by a slight drop in U.S. drilling activity. …read more […]

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Xiaomi Paves Way With $6.1B IPO

Jun.24 — As part of our Venture China series, Qiming Venture Partners founding partner Duane Kuang told Bloomberg’s Tom Mackenzie why he hopes the world’s largest IPO in more than 2 years will pave the way for more mega-deals in the region. …read more […]

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Housing affordability in America is its worst in nearly a decade, and there's one clear culprit

Housing affordability hit its worst level in nearly a decade during the first quarter, according to Attom Data Solutions. Attom measures affordability by comparing average wages to median home prices to determine the share of income people need to spend on housing. Prospective buyers needed to shell out more because mortgage rates rose. …read more […]