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U.S. retail sales increase solidly in boost to economy

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WASHINGTON (Reuters) – U.S. retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the drag on the economy from weak business investment. FILE PHOTO: A sign is shown in the window of a retail store in San Francisco, California May 13, 2013. REUTERS/Robert Galbraith Read More

Goldman Sachs profit hit by weakness in trading, underwriting

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FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid/File Photo (Reuters) – Goldman Sachs Group Inc (GS.N) reported a 6% fall in quarterly profit on Tuesday as the Wall Street Read More

Burgeoning family offices manage $5.9 trillion: Campden

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ZURICH (Reuters) – The number of family offices — companies that manage portfolios for individual families — has risen by 38% over the past two years worldwide, advisory group Campden Wealth said, with the firms overseeing assets valued at $5.9 trillion. “We estimate that there are now 7,300 single family offices worldwide, with 42% housed Read More

Investors trim cash, buy stocks on dovish Fed, trade truce: BAML poll

3 hours ago DieselGasoil Comments Off on Investors trim cash, buy stocks on dovish Fed, trade truce: BAML poll
LONDON (Reuters) – Fund managers have trimmed cash holdings and added risk to their portfolios following the U.S. Federal Reserve’s dovish pivot and after Beijing and Washington agreed a temporary truce to their protracted trade spat, a key investor survey showed on Tuesday. Bank of America Merrill Lynch’s latest monthly survey found cash levels down Read More

India to push Japan out of world’s top 3 economies by 2025

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India is projected to outpace the UK by the end of the year to become one of the world’s top five economies. It will then take it just six more years to overtake Japan as the world’s third largest economy, a new study suggests. India’s gross domestic product (GDP) is expected to reach $5.9 trillion Read More

South Korea bourse fines BofA Merrill Lynch over irregular trading

5 hours ago DieselGasoil Comments Off on South Korea bourse fines BofA Merrill Lynch over irregular trading
FILE PHOTO: A journalist walks past an electronic board of the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange (KRX) in Seoul, South Korea, January 20, 2016 REUTERS/Kim Hong-Ji/File Photo SEOUL (Reuters) – The Korea Exchange (KRX) said on Tuesday it has imposed a 175 million won ($148,655) fine on Bank of America Read More

Asian shares creep higher as wary investors await U.S. data, earnings

6 hours ago DieselGasoil Comments Off on Asian shares creep higher as wary investors await U.S. data, earnings
SHANGHAI (Reuters) – Most Asian stock markets rose on Tuesday, but gains were limited as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world’s biggest economy ahead of a likely U.S. rate cut later this month. FILE PHOTO: The German share price index DAX graph is pictured at Read More

High and dry: Alpine resorts grapple with climate change

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AROSA, Switzerland (Reuters) – The prospect of searing heatwaves driving holidaymakers to cool mountains and children asking grandparents about their memories of snow is focusing minds in Alpine ski resorts on the implications of climate change. Parts of the Gurschengletscher glacier are covered with tarps in Andermatt, Switzerland July 5, 2019. REUTERS/Arnd Wiegmann With global Read More

Asian shares inch up as cautious investors await U.S. data, earnings

10 hours ago DieselGasoil Comments Off on Asian shares inch up as cautious investors await U.S. data, earnings
SHANGHAI (Reuters) – Major Asian equity indicators nudged higher on Monday as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world’s biggest economy, with markets remaining focused on a likely U.S. rate cut this month. FILE PHOTO: A man looks at a stock quotation board outside a brokerage Read More

Asian shares tick up, U.S. data, earnings in focus ahead of Fed

12 hours ago DieselGasoil Comments Off on Asian shares tick up, U.S. data, earnings in focus ahead of Fed
SHANGHAI (Reuters) – Asian shares inched up on Tuesday as traders awaited U.S. retail sales data and more corporate earnings to gauge the health of the world’s biggest economy, with markets remaining focused on a likely U.S. rate cut by the end of the month. FILE PHOTO: A man looks at a stock quotation board Read More