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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 […]

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U.S. Pork Exports Hit Record on Demand From China, Mexico

(Bloomberg) — Export sales of American pork soared to an all-time high last week as buyers stock up in anticipation of a widening protein gap created by the spread of a pig-killing disease in Asia.“They’re simply front-running the Chinese with everyone becoming fully aware of the demand wave about to hit,” Dennis Smith, senior account executive at Archer Financial Services, said in an email.Livestock traders who have been waiting for months for China to start stepping up imports of U.S. meat got their first taste of the buying last week. This week’s data signals the tightening in global protein markets …read more […]

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UPDATE 1-Sanofi pulls Zantac from U.S. and Canada after carcinogen found

Sanofi SA said on Friday it would recall popular heartburn medicine Zantac in the United States and Canada, after the medicines were linked with a probable cancer-causing impurity. The French drugmaker said it was working with health authorities to determine the level and extent of the recall, which it called a precautionary measure being taken due to possible contamination with a substance called N-nitrosodimethylamine (NDMA). U.S. and European health regulators said last month they were reviewing the safety of ranitidine, which is commonly sold as Zantac and its generic alternatives, after an online pharmacy called Valisure notified them …read more […]