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COLUMN-Mission Impossible: China can't meet its commitments on U.S. crude, LNG, coal: Russell

The more you delve into the details of China’s commitment to buy an additional $52.4 billion in U.S. energy over the next two years, the more it becomes apparent the goal is unachievable, even with the best will in the world. As part of the “Phase 1” trade truce between Beijing and Washington, China undertook to buy energy over and above a $9.1 billion baseline of U.S. imports in 2017, with a split of an extra $18.5 billion in 2020 and $33.9 billion in 2021. In practical terms this means China’s imports from the United States this year …read more […]

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Asian Stocks Drop in Risk-Off Turn; Yen Rises: Markets Wrap

(Bloomberg) — Stocks and U.S. futures took a modest dive in morning trading in Asia, with Hong Kong equities opening to a slide in excess of 1%.The yen and U.S. Treasuries advanced as a broad risk-off move developed, with gold edging higher. China’s yuan dropped. Market participants attributed the moves to worries over China’s coronavirus, after reports indicating mounting evidence of its contagiousness among humans. Seven straight weekly advances in the MSCI Asia Pacific Index might also have left some investors looking for a short-term exit point from equities.“As Chinese citizens travel home for the Lunar New Year, more cases …read more […]

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Why Goldman Sachs’s Currie Is Bullish on Commodities in 2020

Jan.20 — Jeff Currie, global head of commodities research at Goldman Sachs, discusses the potential for carbon capture technologies, oil prices and his outlook for metals. He speaks exclusively on “Bloomberg Daybreak: Asia” from the sidelines of the Goldman Sachs Global Macro Conference Asia Pacific in Hong Kong. …read more […]

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Tesla Slams Acceleration Petition Brought by ‘Short Seller’

(Bloomberg) — Tesla Inc. fired back against a petition filed with U.S. regulators, saying in a blog post Monday that it’s “completely false and was brought by a Tesla short seller.”The National Highway Traffic Safety Administration is evaluating allegations that Tesla Inc. vehicles contain a defect that can cause sudden unintended acceleration, according to a notice posted on the agency’s website last week. The review was prompted by a petition asking the agency to open a defect investigation of some 500,000 Tesla vehicles over the alleged flaw. The petition cited 127 consumer complaints to the agency and claims of 110 …read more […]