Worries over Norway's new wealth fund chief play out in parliament

OSLO, Aug 10 (Reuters) – Norway’s central bank faced fresh criticism on Monday over its decision to appoint a wealthy businessman to lead the country’s $1.1 trillion sovereign fund, but it continued to defend its choice at a hearing in the country’s parliament. Norges Bank in March announced that hedge fund veteran Nicolai Tangen would take over the running of […]

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Shares of Buffett's Berkshire Hathaway rise after conglomerate buys back a record amount of stock

Berkshire Hathaway stock rose after the conglomerate announced that it purchased a record amount of its own equity in the second quarter. Berkshire, led by Chairman and CEO Warren Buffett, said it repurchased $5.1 billion worth in stock in May and June. Berkshire Hathaway stock rose in premarket trading Monday after the conglomerate announced over the weekend that it purchased […]

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Global oil crisis: Bottom of the barrel is still unclear

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. London (CNN Business)Saudi Aramco said Sunday that its net profit plunged 73.4% in the second quarter to $6.6 billion. But CEO Amin Nasser said there are signs of improvement as coronavirus shutdowns ease. It was the second […]

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China imposes sanctions against Cruz, Rubio, other US lawmakers over Hong Kong

How coronavirus changed the US, China relationship The Daily Wire writer Ian Haworth on where the U.S. relationship stands with China. BEIJING (Reuters) – China said it would apply sanctions against 11 U.S. citizens including officials from Monday in response to Washington's move on Friday to impose sanctions on 11 Hong Kong and Chinese officials whom it accused of curtailing political freedoms in the city. […]

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US stock futures wobble at start to week

Tech stocks have more room to run: Expert EShares CEO Joel Shulman discusses his outlook for tech stocks. U.S. stock futures wobbled Monday as investors assessed the slowing pace of new coronavirus infections, potential complications surrounding fresh federal stimulus spending plans and escalating tensions with China. Continue Reading Below Futures tied to the S&P 500 wavered between gains and losses, […]

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Sterling rises ahead of UK data; speculators' shorts decrease

* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh * Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv By Joice Alves LONDON, Aug 10 (Reuters) – Sterling rose 0.2% against a slightly stronger dollar on Monday ahead of UK unemployment and GDP data this week after hitting its biggest daily fall since June against the greenback on Friday. Sterling resumed its role […]

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UK shopper numbers rise after launch of "Eat Out to Help Out" scheme

LONDON, Aug 10 (Reuters) – Shopper numbers across all British retail destinations rose 3.8% in the week to August 8 versus the week before, with the start of the government’s “Eat Out to Help Out” scheme helping evening trade more than lunchtimes, researcher Springboard said on Monday. The 500 million-pound ($653 million) scheme offers 50% off the bill for eat-in […]

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