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Iraqi Militiamen Storm U.S. Embassy Complex Over Raid

(Bloomberg) — Dozens of Iraqi militiamen and their supporters stormed the U.S. Embassy complex in Baghdad on Tuesday to vent their rage over deadly U.S. airstrikes against their Iranian-backed force.Guards lobbed tear gas and opened fire to quell the unrest, which was quickly contained, though dozens of protesters remained encamped in tents outside the compound. The U.S. ambassador and the diplomatic corps were evacuated two days ago, according to a person familiar with the matter, who spoke on condition of anonymity because he wasn’t authorized to speak publicly. The actual embassy building was not attacked, he said.President Donald Trump swiftly …read more […]

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Analysts: These 3 FAANG Stocks Could Outperform in 2020

The faangtastic five — Facebook, Amazon, Apple, Netflix and Google — are more than some of the world’s most successful tech and internet services companies. All have a presence in users’ daily lives that goes beyond a mere product-consumer relationship.There is an argument to be made that these companies represent global powers almost matching those of sovereign states, and in some cases are likely to inspire more devotion than citizens might feel towards their respective nations. Not to mention, the impact some of these companies have had in shaping lives beyond the original purpose of their product, has raised questions …read more […]

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India's current account improves as trade deficit shrinks

India’s current account deficit narrowed in the September quarter of the fiscal year as the trade deficit shrank, central bank data showed on Tuesday, but the momentum may not be sustainable. “The contraction … was primarily on account of a lower trade deficit at $38.1 billion as compared with $50.0 billion a year ago,” the Reserve Bank of India said in the release. The trade deficit stood at $12.12 billion in November compared with $16.67 billion a year earlier, trade ministry data showed earlier this month. …read more […]

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Futures dip as year-end rally cools off

White House trade adviser Peter Navarro said on Monday the Phase 1 Sino-U.S. trade deal was likely to be signed in the next week, hours after South China Morning Post reported that Chinese Vice Premier Liu He would travel to Washington this week. S&P 500 e-minis were down 2.5 points, or 0.08% and Nasdaq 100 e-minis were down 10.75 points, or 0.12%. Despite Monday’s dip, the S&P 500 is still on track for its best year since 2013 and its best December in nine years, also driven by a loose monetary policy by the Federal Reserve …read more […]

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Wild Weather Helped Make Niche Commodities Big Winners in 2019

(Bloomberg) — The trade war, wild weather and angry farmers all generated major headlines in 2019 on corn and soybeans. But thinly traded niche commodities posted the most impressive gains for the year.Rice, vegetable oils and lumber all posted price increases of at least 25%. The reason: Crazy climate conditions were magnified in smaller markets where there’s often less certainty over the supply cushion. Lower trading volumes can also make for exaggerated price moves.Here are some of the little markets that saw large gains:Rice and OatsExcessively wet field conditions hampered U.S. planting and harvesting of rice, soybeans, corn and spring …read more […]

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Carlos Ghosn's Drama Is Much Better Than Netflix

(Bloomberg Opinion) — The shock arrest and defenestration in 2018 of Carlos Ghosn, a jet-setting polyglot who bestrode the car industry for decades as head of the Renault-Nissan alliance, always had a cinematic quality to it: There was his detention in Japan shortly after disembarking from a private aicraft; the allegations (strenuously denied by Ghosn) of undeclared income and misappropriated funds; the grim conditions in which he was held and monitored by Japanese prosecutors; and the speculation that his downfall was really a ploy to prevent him bringing about a deeper union between Nissan and Renault that Tokyo didn’t want.But …read more […]