Top Ranked Growth Stocks to Buy for November 30th

FX Empire
Oil Price Fundamental Daily Forecast – Prices Surge as Crude Inventories Plunge Amid Jump in Refining Activity
U.S. gasoline stocks rose 309,000 barrels in the week to 234.9 million barrels, less than analysts’ expectations for a 786,000-barrel rise.
2d ago
Bloomberg
China Joins U.S. as Engine of Global Recovery With Record Growth
(Bloomberg) -- China’s economy strengthened in the first quarter of the year as consumer spending rose more than expected, putting it on course to join the U.S. as twin engines for a global recovery in 2021.Gross domestic product climbed 18.3% in the first quarter from a year earlier, largely in line with the 18.5% predicted in a Bloomberg survey of economists, though that record-breaking figure was mainly due to comparisons with a year ago when much of the economy was shut due to coronavirus. Retail sales beat expectations while industrial output growth moderated.The latest data puts China on course to grow well above its annual target of more than 6%, supporting the view that China and the U.S., where economists predict 6.2% growth, will both outperform other major nations this year. China’s recovery hasn’t yet plateaued after it became the first major economy to contain the spread of coronavirus and return to growth, with GDP rising 0.6% in the first three months of 2021 from the previous quarter.How Much of China’s GDP Was Made in America?: Daniel MossThe recovery last year was led by strong investment in real estate and infrastructure spurring demand for industrial goods, while overseas orders for medical goods and electronic devices fueled exports. Consumer spending had lagged, but the latest figures showed a turnaround. Retail sales growth was 6.3% in March when calculated on a two-year average growth basis -- which removes distortions created by last year’s lockdowns -- up sharply from the rates seen last year.“We are seeing a bit more balanced recovery in the Chinese economy,” Wang Tao, chief China economist at UBS AG, said in an interview with Bloomberg TV. “That early pickup in construction industry is going to give way to more household consumption,” she added. Consumer spending at restaurants and sales of discretionary goods such as jewelry, alcohol and tobacco led the growth of retail sales in March.The economy was also boosted by a jump in investment from overseas. Inbound investment into China rose almost 40% to $45 billion in the first three months of 2021, according to data from the Ministry of Commerce released Thursday. That was the highest for that period in comparable data back to 2002.Markets were choppy following the data release but ended the day little changed, with the benchmark CSI 300 Index paring an earlier loss of as much as 0.6% to finish up 0.35% for the day. The yield on benchmark 10-year sovereign debt fell slightly to 3.16%. The onshore yuan was unchanged on the day at 6.5226 per dollar.Broadening out the recovery remains a work in progress with growth in the first quarter still reliant on the property sector. Fixed-asset investment in real estate rose 7.6% on a two-year average growth basis and infrastructure spending increased roughly in-line with pre-pandemic rates. Quarterly steel production of 271 million tons suggests that annual output is on course to top 1 billion tons for the second year running.What Bloomberg Economics Says...The undershoot in GDP growth relative to expectations and lopsided nature of the recovery do not warrant any economy-wide shift in monetary policy, in our view.Looking forward, production is poised to start peaking, while demand should pick up further. This should add more balance in what looks to be a steady recovery ahead.Chang Shu, chief Asia economistFor full report, click hereAlthough Beijing has promised “no sharp turns” in monetary and fiscal support this year, some prominent economists have warned that premature tightening could still put the recovery at risk. The central bank has asked banks to curtail loan growth in coming months as it seeks to control credit to curb asset bubbles. Alongside the investment data, data showing home prices grew at the fastest pace in seven months in March will likely prompt more action by Chinese policy makers to rein in the sector.“Considering the robust recovery, we certainly do not expect Beijing to step up easing measures, but it is also unlikely to make a sharp shift in its policy stance,” Nomura economists led by Lu Ting wrote in a note. Authorities have learned lessons from a “forceful deleveraging campaign” in 2017-18, which led to bond defaults, a stock market selloff and weaker growth, they said.The statistics bureau said Friday inflation is expected to remain in a moderate range this year, and while rising commodity costs could boost domestic prices, there’s no basis for prices in upstream sectors to rise significantly.“The economy is far from overheating,” said Bruce Pang, head of macro and strategy research at China Renaissance Securities Hong Kong Ltd. “The consumer sector doesn’t have a solid basis for overheating, and I don’t think the central bank will take a faster turn for monetary policy.”Bloomberg Economics forecasts global GDP growth of 6.9% in 2021, rapid enough to bring output substantially back onto its pre-Covid path. Data released Thursday showed the U.S. economy’s comeback is firing on all cylinders, with retail sales exceeding pre-pandemic levels in all categories except restaurants. Production at U.S. factories increased in March by the most in eight months.China has rapidly accelerated its vaccination campaign over the past month in a move that should help bolster spending on services. A recovery in major economies fueled by vaccine roll-outs and the Biden administration’s massive fiscal stimulus is expected to sustain rapid growth in Chinese exports this year.Economists have upgraded their forecasts for China’s growth in recent days: Bloomberg Economics expects 9.3% expansion, ING Groep NV economist Iris Pang predicts 8.6% and Nomura sees 8.9%.“We expect the economy to continue to gain momentum in the second quarter, with a rotation in terms of the drivers of growth compared to last year,” said Louis Kuijs, head of Asia Economics at Oxford Economics Ltd. in Hong Kong. “Less generous fiscal and monetary policy will weigh on infrastructure and real estate investment, while improved profitability and confidence should buoy corporate investment and consumption.”(Updates with foreign investment data.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
6h ago
Reuters
Dow hits milestone, S&P breaks record high on tech rally
The S&P 500 scored its second closing high this week, and the Dow surpassed its previous peak on April 9. The Nasdaq Composite finished above 14,000 for the first time since Feb. 16 and is now down less than 1% from its Feb. 12 record high ending. The S&P information technology sector also hit an all-time high.
1d ago
BBC
Benefit Cosmetics backtracks over NHS staff refusal
The firm saw a social media backlash after a nurse claimed staff were turned away for beauty treatments.
10h ago
Reuters
Exclusive: Grab mulling secondary Singapore listing after SPAC merger - sources
Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, three sources familiar with the matter said. Listing on Singapore Exchange would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares.
6h ago
Bloomberg
Coinbase Churns as Jitters Overshadow Wall Street’s Optimism
(Bloomberg) -- Coinbase Global Inc. seesawed on Thursday following a volatile trading debut, with momentum building around the stock even as some in the market struggled to place a value on the biggest U.S. cryptocurrency exchange.After initially spiking as much as 6.4%, a choppy session saw shares close down 1.7% at $322.75. Nearly 40 million shares changed hands in Thursday’s session, making it among the most actively traded companies with a market value above $25 billion.While the exchange’s $64 billion valuation tops the likes of Capital One Financial Corp. and Analog Devices Inc., it’s a far cry from $112 billion hit in its debut. Unlike traditional IPOs, where banks help set the company’s value, Coinbase’s direct listing leaves that up to market participants, helping contribute to a stock’s volatility.Despite being unable to sustain its initial strength, positive sentiment toward the stock is starting to build. DA Davidson analyst Gil Luria raised the firm’s price target to a Street-high of $650 and touted the company’s “regulatory-friendly” approach to the nascent market.Optimism was apparent on the buy-side as Cathie Wood’s Ark Investment Management bought about $246 million worth of the stock for three of its funds, while BTIG analyst Mark Palmer initiated coverage with a buy rating and highlighted the potential increase in cryptocurrency’s total market capitalization beyond the current $2.1 trillion.Coinbase’s valuation should reflect its position as a market leader similar to “other category leaders with open-ended growth opportunities” like Zoom Video Communications Inc., Tesla Inc., and Snowflake Inc., Palmer wrote in the note.Retail investors were also interested in the stock, with data from VandaTrack showing day traders purchased a net $57 million of the shares during its debut on Wednesday.Read more: Coinbase’s Retail Buyers Stung After Plowing in Early at DebutCoinbase’s listing is seen pushing crypto even more into the mainstream of investing, exposing legions of potential buyers to digital tokens, which have grown into a $2 trillion industry in little more than a decade. Bitcoin, the original and biggest crypto coin, is valued at more than $1 trillion alone after a more than 800% surge in the past year.Given its size and visibility, Coinbase is likely to be popular with actively managed equity funds, particularly growth managers, essentially making a large swath of stock holders passive investors in crypto.It is also worth noting that given Coinbase’s path to becoming a publicly traded company, existing investors are able to put their shares on the market immediately and don’t have to wait for a typical lockup period to expire.Growing mainstream acceptance of cryptocurrencies has spurred Bitcoin to a 120% rally since December, as well as lifting other tokens to record highs. That’s despite lingering concerns over their volatility and usefulness as a method of payment. Attention from regulators is poised to intensify as Coinbase becomes a public company.(Updates share prices for market close in second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
19h ago
Bloomberg
Ark Funds Buy $352 Million Worth of Coinbase in Two Days
(Bloomberg) -- Cathie Wood’s funds have snapped up about $352 million worth of shares in the biggest U.S. cryptocurrency exchange Coinbase Global Inc. over two days, as the stock’s turbulent start continues.Wood’s funds, including her flagship Ark Innovation ETF, bought 341,186 shares in total on Thursday, according to data released by the funds in an email. That takes Ark Investment Management LLC.’s Coinbase purchase past 1 million shares. The stock closed 1.7% lower on Thursday, valuing the exchange operator about 43% lower than the $112 billion it hit in debut.READ: Coinbase Churns as Jitters Overshadow Wall Street’s OptimismSeparately, Ark’s funds have sold shares in New York Stock Exchange parent Intercontinental Exchange Inc. for two consecutive sessions, the emailed data showed.Ark Investment, founded by Wood in 2014, invests in companies involved with disruptive trends, which means it has a limited pool of targets in which to deploy that money. Concerns have swirled around the New York-based firm in recent months on concentration risks after a stellar year saw ETF assets surge at one point to more than $60 billion.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
12h ago
Bloomberg
Brevan Howard’s Hedge Fund to Start Buying Cryptocurrencies
(Bloomberg) -- Brevan Howard Asset Management is preparing to start investing in digital assets, becoming the latest money manager seeking to exploit the cryptocurrency boom.The firm led by Aron Landy will begin by investing up to 1.5% of its $5.6 billion main hedge fund in digital assets, according to a person with knowledge of the matter. The initial allocation will be overseen by Johnny Steindorff and Tucker Waterman, co-founders of crypto investment firm Distributed Global, the person said, asking not to be identified because the information is private.A spokesman for Jersey-based Brevan Howard declined to comment.The move is the latest signal that cryptocurrencies are going mainstream as Brevan Howard joins the likes of billionaire hedge fund managers Paul Tudor Jones and Marc Lasry in betting on digital assets. Only on Wednesday, crypto exchange Coinbase Global Inc. went public and hit a valuation above $112 billion.Brevan Howard’s fund will bet on the rising values of digital assets, and will focus on a wide range beyond just Bitcoin, the person said.Familiar GroundBrevan Howard is no stranger to digital assets. Co-founder Alan Howard invests his personal money into cryptocurrencies and the firm recently acquired a 25% stake in One River Asset Management, a $2.5 billion firm whose cryptocurrency funds are backed by Howard.The billionaire has been an investor in Distributed Global since early 2018, the person said. That firm also runs a crypto venture capital fund in partnership with Singapore’s Temasek Holdings Pte. All trading will take place through Elwood Asset Management, an affiliate platform started by Howard four years ago, the person said.Bitcoin has more than doubled this year, boosting the market for cryptocurrencies past $2 trillion, while the entry of big financial institutions into the space has been one of the biggest trends in the industry over the past few months. Tesla Inc. now accepts Bitcoin for its electric vehicles, and the company disclosed a $1.5 billion investment in the currency earlier this year.Both Morgan Stanley and Goldman Sachs Group Inc. have also announced plans to offer clients access to crypto investments.On its part, Brevan Howard had been developing its digital trading technologies and assessing the sector’s suitability for investors for the last few years, according to the person. It decided in the fourth quarter of last year that the industry had matured enough for it to deploy a small part of clients cash.Brevan Howard, best known for its macro trading prowess, is in expansion mode following a record year of gains. Investors who abandoned the firm amid years of mediocre returns are coming back: Assets that collapsed by over 80% from their peak to about $6 billion two years ago have since rebounded to above $13 billion.The firm’s main fund is run by a group of traders including Howard himself, Fash Golchin, Alfredo Saitta and Minal Bathwal. It gained 27.4% last year in its best annual return since 2003.(Updates with industry background in 8th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
9h ago
Bloomberg
China Says Huarong Operations Are Normal, Liquidity Ample
(Bloomberg) -- China’s financial regulator said operations at China Huarong Asset Management Co. are normal and the company has ample liquidity, marking the first official comments aimed at easing investor concerns over the financial health of the nation’s largest bad-debt manager.The state-owned company is actively cooperating with its auditor and will complete its annual report as soon as possible, the China Banking and Insurance Regulatory Commission said in a statement. Huarong’s dollar bonds climbed, extending their rally from record lows on Thursday. A dearth of communication from Huarong and regulators on the company’s plight has unnerved investors who are seeking more details on its finances, its overhaul plans and its level of support from Beijing.Huarong, which owes $42 billion to local and offshore bondholders, jolted Asian credit markets after failing to meet a March deadline for releasing its 2020 earnings. The company was already under a shadow after its former chairman, Lai Xiaomin, was executed earlier this year after being found guilty of bribery. Under his leadership, Huarong expanded into areas including securities trading and trusts in a significant shift away from the company’s original mandate of helping banks dispose of bad debt.Huarong said earlier this week it had “adequate” liquidity and has repaid all bonds that matured on time, yet the company has declined to comment on its plans for future payments. The lack of clarity has fueled investor concerns about the potential for a debt restructuring that would be China’s most consequential since the late 1990s. Huarong’s dollar bond maturing in November climbed 4.3 cents on the dollar to 82.6 cents as of 5:35 p.m. in Hong Kong. Its yield, which approached 100% on Thursday, fell to 39%.The company’s offshore bonds began rebounding on Thursday, after reports that Huarong had funds for a full repayment of a S$600 million ($450 million) offshore note due April 27. The company’s onshore securities unit has wired funds to repay a local bond maturing Sunday, people familiar with the matter said on Friday. Huarong and its subsidiaries need to repay or refinance some $7.4 billion of local and offshore bonds this year. The company counts Warburg Pincus, Goldman Sachs Group Inc. and Malaysia’s sovereign wealth fund among its shareholders, according to data compiled by Bloomberg. The stock has dropped 67% since its 2015 listing in Hong Kong and has been halted from trading since the start of April.Hu Jianzhong, chief supervisor at Huarong, said at an event in Beijing on Friday that China will see more difficulties in bad-asset disposal market over the next three to five years as the volume rises and prices fall. Hu didn’t mention Huarong’s debt situation in the speech and declined to comment on the company’s bond repayment plan or the timing for its annual report on the sidelines of the event.The nation’s distressed loan managers are facing mounting pressure as the pandemic has made it harder to dispose of assets, according to a closely watched survey by China Orient Asset Management Co. released on Friday.Increasing credit losses at the managers themselves threaten to hurt profits and have adverse impact on their capital strength over the long term, China Orient, one the nation’s four state-owned bad-debt managers, said in the report. It also warned of growing difficulties with maturity mismatches as the companies’ liabilities are mostly short-term.Financial IndustrySeparately, China’s regulator said on Friday that the country’s banks saw their non-performing loans climb to 3.6 trillion yuan ($552 billion) as of March 31, up 118.3 billion yuan from the end of 2020. The NPL ratio eased to 1.89%, 0.02 percentage point lower than at the end of 2020.With the coronavirus largely contained and the economy rebounding, Chinese policy makers have renewed a campaign to restrain leverage and curb risks, especially in the closely managed financial and real estate sectors. Last year’s stimulus pushed debt to almost 280% of annual economic output.The central bank last month asked major lenders to curtail loan growth for the rest of this year after a surge in the first two months stoked bubble risks, people familiar with the matter have said.The economy accumulated much of its record debt pile after the global financial crisis, when it binged on credit to avoid the economic slumps ravaging the West. Efforts in 2017 to restrain debt growth, especially in the shadow-banking industry, led to higher money-market rates and a slump in government bonds.(Adds background throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
4h ago
Reuters
China's Geely targets slice of premium electric car market with 'startup' brand Zeekr
NINGBO, China/BEIJING (Reuters) -Chinese automaker Geely, owner of Volvo Cars, on Thursday launched a high-end electric vehicle (EV) brand named Zeekr, targeting China's growing appetite for premium EVs that has boosted sales for Tesla and Chinese peer Nio. Parent Zhejiang Geely Holding Group and Geely Automobile said last month they would jointly invest 2 billion yuan ($306 million) in the new venture, seeking to position Zeekr as a startup under Geely group, also known overseas for its 9.7% stake in Germany's Daimler AG. The price tags for Zeekr cars will be around 300,000 yuan, and Flynn Chen, Zeekr's vice president, said the brand will explore new sales and marketing methods, including allowing customers to subscribe to car-using rights and offering a stake in the company to car buyers.
1d ago
Bloomberg
Stocks Drop From Record Highs; Bond Yields Rise: Markets Wrap
(Bloomberg) -- U.S. stocks retreated after climbing to an all-time high. Treasuries fell with the dollar. Oil rallied.PayPal Holdings Inc. and Nvidia Corp. paced losses among tech companies in the S&P 500, which had fluctuated for much of Wednesday’s session as traders sifted through earnings from some of the world’s biggest banks. Bitcoin slid in the wake of the debut by cryptocurrency company Coinbase Global Inc. on the Nasdaq.Read: Goldman, JPMorgan Traders Show the Reddit Crowd How It’s DoneWith equities lingering near a record, investors are looking to the earnings season for further catalysts. Expectations of a strong profit rebound have helped markets rally, setting the bar high as reporting gets underway. More broadly, investors are monitoring vaccine developments for any threats to the economic recovery. The Federal Reserve said in its Beige Book that activity has picked up pace amid an improvement in consumer spending.“You’re going to see this tug-of-war continue within markets as investors weigh the prospects of a strengthening economy with the risk of rising inflationary pressures,” said Adam Phillips, managing director of portfolio strategy at EP Wealth Advisors.A quarter that began with retail investors declaring the end of the status quo on Wall Street just ended with big banks tallying surprisingly massive hauls. Goldman Sachs Group Inc. and JPMorgan Chase & Co. -- two of the most gilded names in finance -- kicked off bank earnings season with revenue windfalls from trading and dealmaking, defying warnings from within the industry that good times couldn’t last.Goldman Sachs’s stock jumped, while JPMorgan’s slipped -- undermined by concern over weak demand for loans.Some key events to watch this week:U.S. data including initial jobless claims, industrial production and retail sales come Thursday.China economic growth, industrial production and retail sales figures are on Friday.These are some of the main moves in financial markets:StocksThe S&P 500 fell 0.4% at 4 p.m. New York time.The Stoxx Europe 600 Index gained 0.2%.The MSCI Asia Pacific Index advanced 0.7%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.2%.The euro climbed 0.3% to $1.1979.The Japanese yen appreciated 0.2% to 108.89 per dollar.BondsThe yield on two-year Treasuries rose less than one basis point to 0.16%.The yield on 10-year Treasuries rose two basis points to 1.63%.The yield on 30-year Treasuries climbed two basis points to 2.31%.CommoditiesWest Texas Intermediate crude gained 4.5% to $62.89 a barrel.Gold weakened 0.5% to $1,736.65 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
2d ago
Bloomberg
Knighthead, Certares Boost Bid to Buy Hertz From Bankruptcy
(Bloomberg) -- The fight to buy Hertz Global Holdings Inc. out of bankruptcy is escalating after a group of investors that were previously outbid sweetened their deal to give the reorganized company an enterprise value of around $6.2 billion.The amended proposal from Knighthead Capital Management and Certares Management would pay unsecured bondholders in full, and offer existing shareholders equity in the reorganized company, according to people with knowledge of the plan who asked not to be identified discussing a private matter.The new plan includes a private placement of $750 million in reorganized stock from ad hoc equity investors that would be available to eligible shareholders, the people said. Apollo Global Management agreed to provide $2.5 billion in preferred equity financing as part of the amended proposal, the people said. The deal assigns the reorganized Hertz an equity market value of around $5.5 billion.Hertz shares surged as much as 46% Friday morning in New York to trade at $1.79.Representatives for Knighthead, Certares and Apollo declined to comment. A representative for Hertz didn’t immediately respond to a request for comment. The Wall Street Journal earlier reported on the amended plan.Hertz filed for bankruptcy in May when the near-total shutdown of the global travel industry sent its rental revenues plunging. It became a popular stock among day traders, who sent shares of the bankrupt company soaring, even though common shareholders are typically wiped out in Chapter 11 proceedings. Hertz briefly raised funds for its bankruptcy by selling stock, but abandoned the program after the Securities and Exchange Commission questioned the plan.Earlier this month, Hertz chose a rival offer from Centerbridge Partners, Warburg Pincus and Dundon Capital Partners to help it exit bankruptcy. Under that plan, supporting noteholders agreed to support the exchange of unsecured funded debt claims against Hertz for about 48.2% of the equity in the reorganized company and the right to purchase an additional $1.6 billion of shares.The sweetened offer from Knighthead gives the company a new option to consider as it works to leave court protection. Hertz aims to complete the process in June, and has put tentative restructuring terms in place for review and approval by a bankruptcy judge in Wilmington, Delaware.Hertz is rushing to exit court protection to take advantage of the hot stock market and an expected surge in summer travel as more consumers are vaccinated against Covid-19. The industry is raising prices as business and leisure travel surges and household-name rental companies don’t have enough cars for customers to drive off the lot. Firms are adding cars back to their fleets, but can only do so slowly since a semiconductor shortage has hampered production of new cars. Hertz, like rivals that didn’t file bankruptcy, sold large portions of its inventory and cut costs severely to shore up finances when U.S. travel ground to a halt last year. The amended Knighthead and Certares plan also includes $550 million of cash in a recovery pool that would pay general unsecured creditors in full, the people said. It also includes a 250 million euro ($300 million) interim financing plan to help meet the liquidity needs of Hertz’s international businesses, they added.(Updates with bankruptcy exit background in ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
2h ago
Barrons.com
Barron’s Stock Pick: Buy O’Reilly Stock Because Americans Are Driving Again.
The biggest of the major auto-parts retailers had a bumpy road during the pandemic. But by adding stores and gaining share, the chain looks set to take advantage of a return to normalcy.
1d ago
Quartz
What will happen to Citibank customers’ accounts and credit cards as it exits India?
Citibank has hinted there won't be any possible layoff and closure of physical branches in the countries it is exiting.
9h ago
CoinDesk
Morgan Stanley Confirms Wealth Management Clients Have Access to 2 Crypto Funds
In the bank’s first quarter earnings call Friday, CFO Jonathan Pruzan said Morgan Stanley would offer more crypto services if clients showed more interest.
2h ago
MoneyWise
New monthly stimulus checks for families will start in July, IRS now says
The IRS chief tells Congress the child tax credit payments will arrive on time after all.
1h ago
MoneyWise
Suze Orman thinks a market crash could be imminent — here's what to do
Warren Buffett's famous economic measurement shows Orman might be onto something.
4h ago
Reuters
Exclusive: China opens its borders to multi-billion dollar gold imports - sources
China has given domestic and international banks permission to import large amounts of gold into the country, five sources familiar with the matter said, potentially helping to support gold prices after a months-long decline. China is the world's biggest gold consumer, gobbling up hundreds of tonnes worth tens of billions of dollars each year, but its imports plunged as the coronavirus spread and local demand dried up. With China's economy rebounding strongly since the second half of last year, its appetite for gold jewellery, bars and coins has also recovered, and since January domestic prices have been higher than global benchmark rates, making it profitable to import bullion.
6h ago
MarketWatch
Bitcoin falls as Turkey bans cryptocurrency payments
Bitcoin fell early on Friday, after Turkey’s central bank decided to ban cryptocurrency payments from the end of the month.
6h ago
MoneyWise
$50K student loan forgiveness would cancel debt of 84% of borrowers, Biden told
Lawmakers and advocacy groups are pushing the president to take immediate action.
1d ago

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