The head of the International Monetary Fund has given a stark warning that Covid-19 will lead to a lost generation unless urgent steps are taken to prevent the pandemic widening the gap between rich and poor countries. Kristalina Georgieva, the IMF’s managing director, said financial support for the most vulnerable countries had to be stepped up to prevent long-time scarring […]
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A bombshell New York Times report claims that Trump paid only $750 in federal income taxes in 2016, and nothing at all for much of the previous decade, a major contrast with his image as a self-made billionaire. Trump's business career shows a series of flashy and ambitious investments that go bust, sometimes ending in bankruptcy, with Trump moving on […]
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Rolling Stone has in the past dipped its toes into e-commerce waters through collaborations with brands such as Levi Strauss & Co., but after much preparation it’s now ready to go it alone. The iconic magazine, cofounded by Jann Wenner in the late Sixties as a music and culture publication that eventually expanded to include politics, is launching an online […]
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Tiffany & Co. shot back at LVMH Moët Hennessy Louis Vuitton on Tuesday, calling the French luxury giant’s counterclaims in a Delaware court “baseless and misleading.” The two have been fighting since LVMH said this month it was walking away from its $16.2 billion acquisition of the U.S. jeweler — which would have been the largest deal in LVMH chief […]
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Richard Drew/AP Photo Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning. Here’s what you need to know before markets open. 1. Mohamed El-Erian says investors should prepare for slower economic recovery and not expect ‘US lawmakers to come to the rescue’. Investors need to wake up to the […]
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SINGAPORE – Citi will open its largest wealth advisory hub in Orchard in December as it targets an increase of its market share in catering to the well-heeled. The hub, named Citi Wealth Hub at 268 Orchard, will occupy an area of 30,000 sq ft across four floors at the same address in the shopping district. It will house more than […]
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There has been an incredible outperformance of growth over value in recent years. When companies leading the internet and cloud, smartphones and computing, are leading the new American economy in a pandemic, it’s hard to convince investors to look at some of the boring cyclical stocks that are classified as “value stocks.” However, nothing lasts forever, and this finally may […]
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Tom Pennington/Getty Images; SAUL LOEB/AFP via Getty Images The US economy has a “good chance” of seeing another coronavirus stimulus package before the presidential elections in November, a fund manager told CNBC on Tuesday. If both chambers of Congress “can strike something that’s reasonable on both sides, then we do have a good chance to get something done before the […]
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Climate change is fueling megafires that can’t be extinguished with helicopters and fire trucks, so Europe’s most fire-prone region has come up with new ways to protect forests. In many parts of the continent, countries are letting smaller fires burn, using historic data to model future fire behavior and offering subsidies to encourage land owners and people living close to forests […]
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