Indian billionaires face off in race to solar domination

Indian billionaire Gautam Adani speaks during an interview with Reuters at his office in the western Indian city of Ahmedabad

By Sudarshan Varadhan and Nidhi Verma CHENNAI (Reuters) – Indian tycoon Mukesh Ambani’s $10 billion entry into renewable energy could drive solar tariffs further to the ground and ignite bidding wars with fellow billionaire Gautam Adani, industry analysts say. India’s two richest men are vying to be at the forefront of Prime Minister Narendra Modi’s ambition to ramp up green energy capacity in the world’s second-most populous country more…

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Gold stocks and ETFs to watch

Gold stocks and ETFs to watch

Gold stocks and exchange-traded funds (ETFs) can be an effective way of gaining exposure to the precious metal. Traders that don’t want to invest in physical gold directly can choose to trade on the price movements of stocks that are involved in the mining, extraction and production of gold bullion or coins. In this article, we will discuss how to trade on gold stocks using derivative products, and we run…

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Chinese inflation jumps in May

Chinese inflation jumps in May

European markets had another mixed session yesterday, with the FTSE 100 outperforming while the performance of markets in the US was pretty much identical to what happened on Monday, with the Russell 2000 outperforming and leaving its heavyweight peers of the S&P 500 and Dow trailing in its wake, albeit still just below record highs. What’s even more confusing is that despite increasing evidence that inflation risks could well be rising, bond yields are going into reverse,…

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ECB and US CPI in focus

ECB and US CPI in focus

This week’s price action in equity markets appears to have been more or less dictated by how big a rise we might see in today’s US CPI report for May, as well as how the European Central Bank sees the current outlook for the economy in Europe over the next few months. US markets finished yesterday’s session on the back foot across the board, as investors geared up for…

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Dollar stuck near 3-month lows, bitcoin struggles

Dollar stuck near 3-month lows, bitcoin struggles

By Iain Withers LONDON (Reuters) -The dollar was pinned near three-month lows against a basket of major currencies on Monday, as bets on a robust global economic recovery continued to support currencies seen as riskier. The dollar index hovered around the 90 mark, down 0.2% on the day and close to a three-month low of 89.646 hit on Friday. The greenback, seen as a safe-haven trade, has steadily retreated over the…

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Cryptocurrencies punch back after Sunday sell-off

Cryptocurrencies punch back after Sunday sell-off

By Tom Wilson and Tom Westbrook LONDON/SINGAPORE (Reuters) – Cryptocurrencies fought back on Monday, retaking ground lost during a bout of weekend selling that was fuelled by further signs of a Chinese crackdown on the emerging sector. Bitcoin jumped more than 10% to $38,538, erasing losses of 7.5% from a day earlier but still down by more than 40% from last month’s record high. Second-largest cryptocurrency ether jumped more than…

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Wall St gains at open as higher oil drives energy stocks

The front facade of the NYSE is seen in New York

(Reuters) – Wall Street’s main indexes opened higher on Monday as higher oil prices lifted energy stocks, while investors geared up for key inflation readings later this week. The Dow Jones Industrial Average rose 46.0 points, or 0.13%, at the open to 34253.87. The S&P 500 rose 14.3 points, or 0.34%, at the open to 4170.16​, while the Nasdaq Composite rose 86.2 points, or 0.64%, to 13557.212 at the opening bell.

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Oil holds steady near multi-week lows on demand worries

forex news

MELBOURNE (Reuters) – Oil prices were little changed in early trade on Thursday, sitting near multi-week lows hit overnight on worries about fuel demand due to a patchy U.S. economic recovery. U.S. West Texas Intermediate (WTI) crude (CLc1) futures inched up 3 cents, or 0.1%, to $41.54 a barrel at 0115 GMT, while Brent crude (LCOc1) futures slipped 7 cents, or 0.2%, to $44.36 a barrel. Both benchmark contracts…

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Economists, including 7 Nobel winners, urge Senate to reject Judy Shelton’s Fed nomination

forex news

By  Mike Murphy 9 Economists and former Fed officials argue Trump nominee is unfit, too partisan Email icon Facebook icon Twitter icon Linkedin icon Flipboard icon Print icon Resize icon More than 100 economists, including at least seven Nobel winners, have signed an open letter urging the Senate to reject Federal Reserve nominee Judy Shelton, calling her views “extreme and ill-considered.” Shelton was nominated for the Fed’s seven-member board…

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Asian shares set to rise on broader U.S. rally, dollar gains

forex news

By Alwyn Scott NEW YORK (Reuters) – Asian equities were set to open higher on Thursday after stronger U.S. economic data and the prospect of additional U.S. stimulus prompted sharp, and broader, gains on Wall Street, while the dollar extended its upward move. Investors in Asia await readings on services activity in China and Japan, which are expected to show continued expansion in China, and possibly a move out…

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