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Trading Ideas

Onetime Billionaire Says He’s Now Worth Nothing

February 7, 2020 admin Comments Off on Onetime Billionaire Says He’s Now Worth Nothing

(Bloomberg) — Follow Bloomberg on Telegram for all the investment news and analysis you need.The brother of Asia’s richest man has pleaded poverty in his dispute with three Chinese banks seeking $680 million in defaulted loans. “The value of my investments has collapsed,” Anil Ambani said, according to a court filing by the banks in a London lawsuit. “The current value of my shareholdings is down to approximately $82.4m and my net worth is zero after taking into account my liabilities. In summary, I do not hold any meaningful assets which can be liquidated for the purposes of these proceedings.”The …read more […]

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Europe Pushes on With Gigafactory Plan to Rival Tesla and China

February 7, 2020 admin Comments Off on Europe Pushes on With Gigafactory Plan to Rival Tesla and China

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Germany and France set out a blueprint for a giant battery factory, advancing Europe’s 5 billion euro ($5.5 billion) bid to rival the capacity of Tesla Inc. China to supply the key part for electric vehicles.The announcement at Germany’s Economy and Energy Ministry units underscores determination by European Union nations to catch up with Asian competitors that dominate battery making. Battery cells and add-on electronic devices and software make up as much as half the value of EVs.The facility at Groupe PSA-Opel’s …read more […]

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U.S. Weighs Rosneft Sanctions But Wary of Oil Market Chaos

February 7, 2020 admin Comments Off on U.S. Weighs Rosneft Sanctions But Wary of Oil Market Chaos

(Bloomberg) — The U.S. is weighing whether to sanction Russia’s biggest oil producer, Rosneft PJSC, for maintaining ties with Venezuela’s Nicolas Maduro, though American officials are wary that the move could cause chaos in global oil markets, according to people familiar with the matter.Officials at the Treasury Department worry that sanctions on Rosneft may drive up prices for oil, the people said. The U.S. has placed heavy economic sanctions on Venezuela as the Trump administration seeks to oust Maduro, its president, but the country’s oil industry continues to function. Crude accounts for 95% of Venezuelan exports and bankrolls Maduro’s regime.Rosneft …read more […]

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Credit Suisse CEO Thiam quits after spying scandal

February 7, 2020 admin Comments Off on Credit Suisse CEO Thiam quits after spying scandal

Credit Suisse Chief Executive Tidjane Thiam has quit after losing a power struggle within Switzerland’s second-biggest bank as it seeks to move past a widening spying scandal that has prompted ever-louder calls for changes in leadership. The Zurich-based bank said on Friday that Thiam would be replaced by Thomas Gottstein, head of the bank’s Swiss business. Credit Suisse’s board also said that Chairman Urs Rohner had backing to complete his term that until April 2021. …read more […]

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From black swan to bubble: as virus concerns fade, investors worry about a melt-up

February 7, 2020 admin Comments Off on From black swan to bubble: as virus concerns fade, investors worry about a melt-up

When worries over the coronavirus shook U.S. stocks out of a period of quiet trading last week, investors wondered if the outbreak was the “Black Swan” event that would trigger a sharp decline. The sharp snapback has revived concerns among some investors that market participants are growing overly confident that easy money policies from central banks will underpin prices, despite serious risks to global growth from the coronavirus. …read more […]