A $43 Billion Swedish Manager Fears Rate Cuts More Than Virus

The woman overseeing one of Sweden’s biggest investment funds says ultra-low interest rates pose a bigger threat to her industry than the market sell-off caused by the coronavirus. Ylva Wessen, the 49-year-old chief executive of insurer Folksam, has opted to sit out the panic caused by the spread of the virus without doing major portfolio […]

Buy Real Estate Down Under as Virus Spreads, IFM’s Davis Says

Australian supermarkets and real estate stocks may be the best way to play defense amid uncertainty surrounding the spreading coronavirus. That’s the view of Lachlan Davis, who leads IFM Investors Pty’s large-cap active equities team that’s been buying Coles Group shares and A-REITs. He’s also shorted Flight Centre Travel Group Ltd., discretionary retailers and gone […]

Putin Dumps MBS to Start a War on America’s Shale Oil Industry

At 10:16 a.m. on a wet and dreary Friday morning, Russia’s energy minister walked into OPEC’s headquarters in central Vienna knowing his boss was ready to turn the global oil market upside down. Alexander Novak told his Saudi Arabian counterpart Prince Abdulaziz bin Salman that Russia was unwilling to cut oil production further. The Kremlin […]

US economy added 273,000 jobs in February

New York (CNN Business)Wall Street had another volatile week as investors struggled with how to react to the global coronavirus outbreak. America’s economy remains strong — for now — but it’s hard to tell just how the shock might affect global supply chains, trade and ultimately economic growth. Perhaps the most important question is one […]

‘Incredibly challenging’: Radek Sali learns through failure

Radek Sali is a resolutely positive person. “Sensational one for you,” says his voicemail. “You’ve called Radek, I’m busy making people healthier and happier.” However, the collapse last month of restaurant group Made Establishment, in which Sali was the major investor and a director, has left its mark on the multimillionaire. Radek Sali is awaiting […]

Global Oil Producers Face Brutal Reckoning After Epic OPEC+ Fail

The alliance between Saudi Arabia and Russia was the only thing that kept the world oil market from tumbling into the abyss. Now its collapse threatens to plunge the industry into a generation-defining freefall with few precedents in modern history. OPEC+ ministers left a fractious meeting in Vienna Friday afternoon with no deal to continue […]

Thailand Does the Once Unthinkable by Hindering Chinese Tourism

Thailand is hindering Chinese tourists because of the novel coronavirus outbreak, normally an unthinkable step for a country that relies on their spending for economic growth. The government signaled Friday it prefers arrivals from China, Hong Kong, Macau, South Korea, Iran and Italy to self-quarantine for 14 days to prevent the spread of the Covid-19 […]

Gold Futures Settle Modestly Higher On Safe-haven Demand

Gold prices rose on Friday as worries about the potential financial damage due to the coronavirus prompted investors to shun riskier assets and seek the safe haven of the yellow metal. The dollar’s sharp decline and falling U.S. treasury yields supported gold’s uptick. The dollar index dropped to 95.71 before regaining some lost ground. Still, […]

Mexican Peso Falls to 15-Month Low on Virus Impact Fears

The Mexican peso trimmed losses during the New York trading session Friday after falling to the lowest since December 2018 on fears the coronavirus will damp growth worldwide. The peso dropped 1.7% to 20.1924 per dollar as of 11:37 a.m. ET versus a session low of 20.3803. It was the worst performing currency in emerging […]

OPEC+ Talks Collapse Threatening Russia-Saudi Oil Alliance

Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. OPEC+ talks ended in dramatic failure, auguring the end of a diplomatic alliance between Saudi Arabia and Russia that has underpinned crude prices and changed the balance of power in the Middle East. Oil fell more than 9% […]