JPMorgan sees euro 2019 rebound

Bloomberg The end may be in sight for the euro’s worst run since 2015. The common currency will probably bottom out against the dollar in early next year, and rise from there as the US economic outperformance runs out of steam, undermining support for the greenback, according JPMorgan Chase & Co. It may hit a low of $1.11 in the ...

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US crop yields threatened by climate change

Bloomberg American farmers’ livelihoods are at risk from climate change as Midwestern grain yields are poised to tumble amid increasing temperatures and more extreme flooding and droughts, according to a new report. Rising heat, drought, wildfires and heavy downpours are expected to increasingly disrupt agricultural productivity in the US, according to a National Climate Assessment report. While some northern regions ...

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Trump might actually be doing China a big favour

Prospects for a trade deal between US President Donald Trump and Chinese President Xi Jinping at the upcoming Group of 20 meeting in Argentina are quite likely to founder on the question of China’s industrial strategies: While Beijing may be willing to buy more American goods to mollify Trump, it almost certainly won’t stop supporting sectors it sees as key ...

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Asset managers are drowning!

It’s only when the tide goes out that you find out who’s been swimming in the nude, billionaire investor Warren Buffett famously opined. And as the bull market in global stocks starts to ebb, asset management companies will find themselves dangerously exposed — with medium-sized firms the most at risk of finding themselves naked and shivering on the beach. Investment ...

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Putting some intelligence into US military spending

A new report warns Congress that the US could struggle to win, or might even lose, a war against China or Russia, because America’s military has “failed to keep pace with changing security challenges.” Why? One reason, according to the bipartisan National Defense Strategy Commission, is that military planners have to deal with a budget that shifts unpredictably from one ...

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Beijing is confronting credit pain, and blinks

China’s falling stock market has prompted a flurry of activity to prop up prices. From delaying forced sales of pledged stock to turning on the credit engine again, authorities see the declines as emblematic of concerns over the economy. Investors have pulled about 3.2 trillion yuan ($460 billion) out of the market this year, according to net capital data from ...

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A Thelma and Louise Brexit? You know the ending well

Committed Brexiters, including former Brexit secretary Dominic Raab, have arrived at the conclusion that the deal Prime Minister Theresa May has negotiated is not just bad; it’s worse than remaining in the European Union (EU). That’s axiomatic. But what’s their plan? It’s not to cancel Brexit. And it’s not to hold a new public vote. Their preference appears to be ...

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Target, like its peers, has a bull’s-eye on its back

If you had told me even a year ago that I would soon see Target Corp. deliver a 5.1 percent increase in comparable sales over a year earlier, I don’t think I would’ve believed you. And if you also told me that Wall Street’s response to that kind of growth would be to slam the big-box retailer’s shares, then I ...

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Renault-Nissan truce could still turn into war

Is it all over? That’s certainly the impression being given by the French and Japanese governments following the arrest and ouster of Nissan Motor Co. Chairman Carlos Ghosn. Hours after the Japanese company’s board voted to remove him due to allegations of misconduct, the two countries’ finance and economy ministers met and pledged support for the alliance between Nissan and ...

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Tech leads stock rebound; Treasuries decline, oil soars

Bloomberg Beaten-down tech shares led the rebound in US stocks, while Treasuries fell as investors gained confidence from positive political developments in Europe and rising oil prices. The S&P 500 Index rallied back from its worst week in a month amid signs of progress in two standoffs that have continually rattled markets — Italy’s fiscal woes and Brexit. The 10-year ...

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