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U.S., Canada slug it out as deadline looms to clinch NAFTA

Canada and the United States will make a final push to iron out differences on a pact to modernize the North American Free Trade Agreement (NAFTA) by a Friday deadline set by President Donald Trump, but the atmosphere soured late on Thursday according to a media report. U.S. Trade Representative Robert Lighthizer and Canadian Foreign Minister Chrystia Freeland were unable to clinch a deal despite meeting late into the evening on Thursday. …read more […]

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U.S. Midterm Election May Be Harbinger for Emerging-Market Rally

If history teaches emerging-market investors one thing about U.S. midterms, it’s hang in there, ride out the volatility and wait for the rally. Since 1990, a strategy of purchasing stocks in MSCI’s emerging-market equity index on Oct. 31 in midterm years and selling 12 months later would have returned an average of 23 percent. In years without midterm elections, stocks gained an average of 9.3 percent over the same period. …read more […]

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Amazon dethrones Tesla as the stock short sellers hate the most (TSLA, AMZN)

The e-commerce giant dethroned Elon Musk’s car company Thursday as the most heavily shorted stock as shares climbed above $2,000 for the first time. Less than one week after Tesla CEO Elon Musk ended his bid to take the electric-car company private, Amazon has passed it as the most-shorted US stock. Short interest in Amazon climbed to $9.97 billion on Friday, according to data from S3 partners, passing the $9.83 billion in bets against Tesla’s stock, which for months has been the most-shorted name in the market. …read more […]

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Global shares extend falls on Trump trade threats

Global stocks fell for a second day on Friday as a report that U.S. President Donald Trump was preparing to step up a trade war with Beijing dampened risk appetite and erased some of the gains made in a rally this week. Trump is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported on Thursday. The White House declined comment.. …read more […]

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Juncker pledges to boost auto tariffs if Trump reneges on agreement

The European Union will respond in kind if U.S. President Donald Trump reneges on his pledge not to impose car tariffs, European Commission President Jean-Claude Juncker said as trade tensions between Europe and the United States rose again. Juncker told German broadcaster ZDF on Friday that the EU would not let anyone determine its trade policies. Trump rejected on Thursday an EU offer to eliminate tariffs on cars and said the EU’s trade policies are “almost as bad as China”, Bloomberg News reported. …read more […]

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Apple, Oracle Dump Bonds and Create $300 Billion Hole in Market

As U.S. tax cuts prompt Apple Inc. and other tech companies to bring home their overseas cash hoards, it’s leaving a void in the market for short-term corporate bonds, where those firms had invested much of the money. Once the biggest buyers of short-dated corporate debt, Apple along with 20 other cash-rich companies including Microsoft Corp. and Oracle Corp. have turned into sellers. …read more […]

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BlackRock voted to replace Tesla’s Musk with independent board chair

Funds run by BlackRock Inc voted over Tesla Inc’s objections in favor of a shareholder proposal in June that would have required the electric carmaker to replace Elon Musk with an independent board chairman if the motion had not been defeated, a regulatory filing showed on Thursday. BlackRock-managed funds voted for a measure requiring the board chairman be an independent director, according to a BlackRock filing with the U.S. Securities and Exchange Commission. More than 86 million shares voted against the proposal at a shareholder meeting in June, while fewer than 17 million voted in favor, according to …read more […]