No inflation fears here: ARK’s Wood says portfolio should triple in five years
Lower prices for growth stocks as a result of the inflation-driven selloff that began in February should mean that Ark Investment’s portfolios should see a “more than tripling” over the next five years, star fund manager and firm founder Cathie Wood said in a webinar on Tuesday.
Biden supply chain ‘strike force’ to target China on trade
The United States will target China with a new “strike force” to combat unfair trade practices, the Biden administration said on Tuesday, as it rolled out findings of a review of access to critical products, from semiconductors to electric-vehicle batteries.
Asia shares pare gains on caution, oil falls again
Asia stocks reversed early gains on Tuesday, with traders sidelined ahead of U.S. inflation data and a European monetary policy meeting this week while oil prices lost more ground on worries over the fragile state of the global recovery.
LME to reopen iconic trading floor, but says electronic trading is future
The London Metal Exchange has abandoned proposals to close its open outcry trading floor, the last such venue in Europe, it said on Tuesday, but added it believes electronic trading is the future.
What you need to know about the coronavirus right now
Here’s what you need to know about the coronavirus right now.
Cathay Pacific given extension to draw down $1 bln govt loan
Cathay Pacific Airways Ltd (0293.HK) said on Tuesday that the Hong Kong government had agreed to extend the drawdown period for a HK$7.8 billion ($1.01 billion) loan facility by a year to June 2022, giving it more flexibility to manage liquidity.
U.S. seizes $2.3 mln in bitcoin paid to Colonial Pipeline hackers
The Justice Department on Monday recovered some $2.3 million in cryptocurrency ransom paid by Colonial Pipeline Co, cracking down on hackers who launched the most disruptive U.S. cyberattack on record.
World Bank slashes GDP growth forecasts for the Philippines
The World Bank has slashed its Philippine growth projection for this year due to a deeper-than-expected contraction in the first quarter and the reimposition of stricter quarantine measures in the capital region to contain a surge in COVID-19 cases.
EXCLUSIVE Cuba and wealthy creditors hope to save landmark accord
Cuba’s top debt negotiator is in France for a critical meeting on Thursday aimed at renegotiating a deal with 14 wealthy nations grouped together within the Paris Club, according to diplomats from four of the countries involved.
Oil prices retreat but outlook remains positive
Oil prices extended losses on Tuesday on profit taking and a stronger U.S. dollar, but overall optimism about strong demand recovery kept a floor under prices.
