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EM Review: Trade Accord Rallied Halts Three-Week Stock Decline

(Bloomberg) — Emerging-market stocks halted a three-week slide and currencies rose as two days of talks ended with the U.S. and China agreeing on the outline of a partial trade accord. As part of the deal, China will significantly step up purchases of U.S. agricultural commodities, while the U.S. will delay a tariff increase due this week. Trump said the deal was the first phase of a broader agreement.The following is a roundup of emerging-markets news and highlights for the week ending Oct. 11.Highlights:The U.S. and China reached a partial agreement Friday that includes certain intellectual-property measures and concessions related …read more […]

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EU Seeks to Halt U.S. Tariffs Over Airbus Aid in Last-Gasp Plea

(Bloomberg) — The European Union made a last-ditch appeal to the U.S. to refrain from triggering retaliatory tariffs over illegal subsidies to Airbus SE, warning of economic harm to both sides and repeating a call for a negotiated solution.European Trade Commissioner Cecilia Malmstrom told her U.S. counterpart, Robert Lighthizer, that his plan to hit $7.5 billion of EU goods ranging from planes to whiskey with duties would compel the EU to apply countermeasures in a parallel lawsuit over market-distorting aid to Boeing Co. U.S. levies would make a negotiated settlement harder to reach, she said.“I strongly believe that imposing additional …read more […]

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Saudi Arabia opens tourist visas to U.S., European visa holders

Tourist visas for Saudi Arabia are now available online and on arrival to holidaymakers who already hold a visa from the United States, Britain or the EU’s Schengen zone, expanding eligibility beyond an initial list of 49 countries. The conservative Muslim kingdom, relatively closed off for decades, launched a new visa regime last month for nationals from countries in Europe, North America and much of Asia to boost foreign tourism and diversify the economy away from oil. Executive regulations published over the weekend stipulate that people from other countries who have a tourist or commercial visa from the …read more […]

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California’s Power Outage Is Hurting Legal Cannabis

Electricity drives many legal grow operations and could irrevocably damage marijuana plants during harvest season. Following massive, deadly wildfires a year ago, while also dealing with bankruptcy negotiations, California utility company Pacific Gas & Electric decided to shut off power this week to avoid any more potential damage. Five out of the 10 most destructive wildfires in California history have been connected with PG&E’s electrical network, according to the New York Times. …read more […]

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EU Says Johnson’s Plan Not Yet Good Enough: Brexit Update

(Bloomberg) — Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.U.K. Prime Minister Boris Johnson told his Cabinet on Sunday that a Brexit deal is achievable, but European Union negotiators warned that his plans are not yet good enough to be the basis for an agreement.The British premier said that while a pathway to an agreement could be seen, there is still a significant amount of work required and the U.K. must be prepared to leave on Oct. 31, according to a spokesperson.In Brussels, EU officials were briefed that talks had not made enough progress …read more […]

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Can Netflix Deliver A Hit After Q2 Subscriber Disappointment?

Netflix Inc (NASDAQ: NFLX) is scheduled to report its third-quarter results Tuesday, after the market close. Analysts, on average, expect the company to report revenues of $5.25 billion, up 31.30% year-over-year. Over the past four quarters, Netflix has managed to beat earnings per expectations by an average of 24.08%. …read more […]