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Market Weekend: Brexit Purgatory, Syria Troops to Iraq, J&J Arsenic, JPMorgan ‘Big Liquidity Thing’

Brexit Purgatory Continues As the world turns, so the Brexit saga continues. Futures traders are now betting the odds of first contact with an alien species of hyperintelligent snails is more likely than this chapter ever being closed. (This is not to be taken literally.) SEE: AMP Signs Cannabis Distribution Agreement with CC Pharma What happened […]The post Market Weekend: Brexit Purgatory, Syria Troops to Iraq, J&J Arsenic, JPMorgan ‘Big Liquidity Thing’ appeared first on Market Exclusive. …read more […]

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Barrick Agrees to Pay $300 Million to End Tanzania Dispute

(Bloomberg) — Barrick Gold Corp. agreed to pay $300 million to the Tanzanian government to end a long-running dispute that it says destroyed the value of its subsidiary Acacia Mining Plc’s assets.As part of the deal, which still must be approved by Tanzania’s attorney general, the government will be given a 16% stake in a renamed company known as Twiga Minerals Corp., Barrick said Sunday in a statement. The payments are to settle all outstanding tax and other disputes, the gold miner said. The agreement means a ban on export of concentrates will be lifted, Barrick said.“Rebuilding these operations after …read more […]

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Business News

China’s Xiaomi says plans to launch more than 10 5G phones next year

Chinese smartphone maker Xiaomi Corp plans to launch more than 10 5G phones in 2020, CEO Lei Jun said on Sunday, adding that the mobile phone industry was worried 4G models would not sell next year. Lei made the remarks at the World Internet Conference in the eastern Chinese town of Wuzhen, according to a transcript provided by the company.

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Aussie Pops Nearly 1% as Rate Cut Chances Drop; Kiwi, Yen Driven by Brexit Deal Hopes

The Aussie surged on Thursday and Friday to its highest level since September 18 after RBA Governor Philip Lowe’s latest view that a return to near 3 percent economic growth is “quite probable” by next year and that further interest rate cuts should not be assumed. …read more […]

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Saudi Arabia's Best Bet Is to Crash the Price of Oil

(Bloomberg Opinion) — Saudi Arabia should give up trying to manage the global crude market and return to the pump-at-will policy it briefly adopted in 2014 under its longest serving oil minister Ali Al-Naimi.In the mercantilist world in which we now live, where decisions are based on narrow national interest, it makes no sense for the world’s lowest-cost oil producer to subsidize shale and prop up other high-cost suppliers.Of course when it does, oil prices will crash just as they did in 1986 when the country finally abandoned fixed official selling prices. And then, in the aftermath, global investors will …read more […]

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Qantas tests world's longest commercial flight from New York to Sydney

Australia’s flag carrier Qantas completed on Sunday a nonstop test flight from New York to Sydney, researching how the world’s longest potential commercial airplane journey of nearly 20 hours would impact pilots, crew and passengers. Carrying 50 passengers and crew on board, Qantas Flight 7879 on a new Boeing 787-9 Dreamliner touched down in Sydney on Sunday morning after a 16,200-kilometre (10,066-mile) journey which lasted 19 hours 16 minutes. “This is a really historic moment for Qantas, a really historic moment for Australian aviation and a really historic moment for world aviation,” Qantas Chief Executive Officer Alan …read more […]

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Boeing Board to Meet Executives on 737 Max Jets, Reuters Says

(Bloomberg) — Boeing Co.’s board of directors and top executives from its airplane division and supply chain are scheduled to meet Sunday to discuss 737 Max jets, Reuters reported, citing people it didn’t identify.The meetings prompted speculation within the company that a significant number of jobs may be cut. They come amid the ongoing investigations into the aircraft after two fatal crashes and an increased financial burden following a safety ban of the jet, the report said.Boeing may have to decrease its monthly production if regulators decide to further delay the resumption of the Max’s services, even after the planemaker …read more […]