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US STOCKS-Wall Street pressured by J&J, global growth concerns

Wall Street edged lower on Friday, set to end a strong week on a downbeat note, as heavyweight Johnson & Johnson slipped and worries over global economic growth were rekindled by gloomy data out of China. The world’s second-largest economy expanded at its weakest pace in almost 30 years in the third quarter amid a bitter trade war with the United States, which has roiled financial markets and fueled fears of a global recession. …read more […]

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In oil-rich region, Venezuelans fear catastrophe if Trump forces Chevron to leave

LA CAÑADA DE URDANETA, Venezuela (Reuters) – With the $2 he earns in wages each week working as a cargo driver for Venezuelan state oil company PDVSA, 56-year-old Freddy Brito cannot even afford to buy one kilogram (2.2 lb) of cheese. To feed himself and his wife as the once-prosperous OPEC nation suffers a hyperinflationary economic collapse, Brito depends on a monthly basket of rice, canned tuna, beans and other products valued at $200 given to him by California-based Chevron Corp, PDVSA’s minority partner at the Petroboscan field in western Zulia state where he works. …read more […]

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SoftBank Vision Fund Partner Who Oversees Didi, Grab Resigns

(Bloomberg) — SoftBank Vision Fund partner David Thevenon has resigned to pursue other opportunities, according to people familiar with the matter.Thevenon, who is based in London, will leave after a phased transition for his portfolio companies, said one of the people, who requested anonymity because the matter is private. The Vision Fund has not yet decided which executives will assume oversight of Thevenon’s portfolio companies, which include Chinese ride-hailing giant Didi Chuxing, Southeast Asian ride-hailing company Grab Holdings Inc. and small-business lending platform Kabbage Inc. A representative for the Vision Fund declined to comment and Thevenon didn’t respond to a …read more […]

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It’s a New Day in Vietnam

Although it was once as poor as Ethiopia, Vietnam has seen astounding economic growth since 1990 and only stands to gain from the ongoing U.S.-China trade war.
Today, Nicholas Vardy explains why Vietnam is an exciting emerging market and could be an important addition to your ETF portfolio.

For Americans of a certain generation, the word Vietnam still evokes one of the most shameful chapters in American history.
The Vietnam War also profoundly touched my family.
My uncle was killed in Vietnam in 1970 at the age of 22. He had just been deployed as a member of the 101st Airborne Division.
Here’s what’s so …read more […]