Commodities Jolted as Trump’s Election Win Shocks Investors

Commodities Jolted as Trump’s Election Win Shocks Investors

Oil and energy stock drop while metals rebound from losses Gold jumps by most since Brexit vote in June; crops decline Raw materials and the companies that produce them were whipsawed as Donald Trump was elected U.S. president in a shock victory over Hillary Clinton. Oil and agricultural commodities declined on Wednesday, while industrial metals rebounded from earlier losses and gold surged with haven assets as the Republican pulled off a huge electoral upset. Traders…

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Crude Rises on OPEC Deal Optimism; Chinese Data Weighs on Stocks

Crude Rises on OPEC Deal Optimism; Chinese Data Weighs on Stocks

Ruble strengthens with oil as dollar gauge slips for third day Saudi Arabia bond sale may raise as much as $17.5 billion Oil rose for a second day on signs the world’s largest producers will honor a deal to pare a surplus, boosting currencies of exporters including the ruble, while Chinese economic data damped demand for equities. West Texas Intermediate crude climbed the most in more than a week after industry data showed U.S. stockpiles…

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Philippines Raises Alert to Top Level as Super Typhoon Nears

Philippines Raises Alert to Top Level as Super Typhoon Nears

Highest storm warning raised in two northern provinces UN says typhoon could affect as many as 11.6 million people     The Philippines raised the storm alert for two northern provinces to its highest level as authorities moved people to safer ground, canceled work and suspended flights before Super Typhoon Haima is due to make landfall as soon as Wednesday night. Haima is a Category 5 storm that is packing maximum winds of 140 knots…

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U.K. Inflation Rate Surges to Highest in Almost Two Years

U.K. Inflation Rate Surges to Highest in Almost Two Years

U.K. inflation accelerated to the fastest in almost two years in September, according to data from the Office for National Statistics published in London on Tuesday. Key Points Inflation rate rose to 1 percent — the highest since November 2014 — versus 0.6 percent in August. Median estimate of economists was 0.9 percent Core inflation at 1.5 percent, the highest in two years. Median estimate was 1.4 percent Factory-gate prices rose annual 1.2 percent, most…

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Swiss Immigration Fig Leaf Won’t Sate Hard-Brexit Believers

Swiss Immigration Fig Leaf Won’t Sate Hard-Brexit Believers

Lawmakers back limited implementation of 2014 immigration vote EU will scrutinize proposal over freedom of movement concerns Share on FacebookShare on Twitter Share on LinkedInShare on RedditShare on Google+E-mail Switzerland is offering a stark lesson for the British politicians tasked with negotiating Brexit: the nation they admired for guarding its sovereignty within Europe has all but thrown in the towel. More than two years after the Swiss electorate voted to limit immigration by European Union nationals,…

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U.K. Government Says Brexit Lawsuit Seeks to Invalidate Vote

U.K. Government Says Brexit Lawsuit Seeks to Invalidate Vote

Court risks interfering with Parliament, government says Attorney general speaks on second day of London court hearing A lawsuit seeking to force Prime Minister Theresa May to hold a vote in Parliament before beginning Britain’s exit from the European Union interferes with democracy and trespasses on government business, her most senior legal adviser said. Attorney General Jeremy Wright told a panel of three senior judges Monday that the challenge is seeking to invalidate Britain’s vote…

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U.K. Red Lines ‘Fully Incompatible’ With EU Market, Slovenes Say

U.K. Red Lines ‘Fully Incompatible’ With EU Market, Slovenes Say

Free movement ‘firm belief,’ not ‘negotiating tactic:’ Premier Bloc may emerge stronger, more cohesive once U.K. leaves The “red lines” that Britain has signaled it will adopt in talks to leave the European Union are “fully incompatible” with membership in the bloc’s single market and there won’t be any negotiations until the U.K. triggers the process, Slovenia’s prime minister said. Miro Cerar, premier of the former Yugoslav Republic of 2.1 million people, echoed other EU…

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BOE’s Saunders Says Inflation Key as Pound Drop Pushes Up Prices

BOE’s Saunders Says Inflation Key as Pound Drop Pushes Up Prices

BOE policy maker appears at appointment hearing in London Saunders previously worked as economist at Citigroup Share on FacebookShare on Twitter Share on LinkedInShare on RedditShare on Google+E-mail Bank of England policy makers aren’t concerned about short-term volatility in the pound but are watching the impact on consumer prices, Michael Saunders said. “You’re going to have an inflationary effect coming through in the next two-to-three years from the drop in the pound,” Saunders, a newly…

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European Stocks Slide for Third Day Before U.S. Payrolls Report

European Stocks Slide for Third Day Before U.S. Payrolls Report

  A third day of losses sent European stocks toward a second weekly decline and an almost two-week low, as investors awaited a U.S. jobs report. The Stoxx Europe 600 Index dropped 0.5 percent at 8:16 a.m. in London, as all industry groups except miners declined. The benchmark has declined 0.5 percent this week, as its longest stretch without losses in almost a year unraveled amid concern the European Central Bank may turn less accommodative. Investors…

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U.K. pound plunges more than 6% in mysterious flash crash

U.K. pound plunges more than 6% in mysterious flash crash

The British pound suffered a jarring flash crash on Friday, nosediving more than 6% against the dollar in a matter of minutes. The sudden plunge in early trading in Asia left investors stunned and analysts struggling to explain what could have caused such an unusual move. “It was just another quiet day in Asia, and then, Bang! All the lights went red,” said Matt Simpson, senior market analyst at ThinkMarkets in Singapore. The pound had…

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