Nintendo blows away earnings estimates on Switch, Animal Crossing sales

Earnings season ‘all about balance sheets’: UBS senior portfolio manager UBS Senior Portfolio Manager Jason Katz says business leaders want to see the economy turned back on in a slow and thoughtful way. Nintendo (OTC:NTDOY) annihilated analyst earnings forecasts after posting fiscal first-quarter profits today that went stratospheric on the popularity of the Switch hybrid gaming console and the Animal Crossing: New […]

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Treasuries Give Back Ground Amid Optimism About Stimulus

Following the notable advance seen in the previous session, treasuries gave back some ground during the trading day on Wednesday. Bond prices climbed off their worst levels in afternoon trading but remained firmly negative. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 2.8 basis points to 0.543 percent. With the […]

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Kuwait’s $112 Billion Fund Has Cash to Spend After Revamp

Kuwait’s $112 billion pension fund plans to boost investments in private equity and infrastructure following an overhaul that left it sitting on too much cash. A new management team was brought in during 2017 to transform the state-owned institution after a corruption scandal involving a previous manager. The fund has since exited more than $20 billion in questionable deals in […]

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Turkish Lira Rates Blow Out to 1000% After Currency Intervention

The cost of borrowing Turkish liras overnight in the offshore market surged to the highest level since March 2019 after heavy interventions late last week drained the supply of local currency. The overnight forward-implied yield on the lira jumped as much as 1020 percentage points to 1050% on Tuesday as dollar sales executed by state banks, designed to prop up […]

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Stocks seesaw as Congress delays on coronavirus relief pinch consumers

Tech stocks have more room to run: Expert EShares CEO Joel Shulman discusses his outlook for tech stocks. U.S. equity markets see-sawed Tuesday morning as lawmakers on Capitol Hill deadlocked on a COVID-19 relief package including extra unemployment benefits that buoyed the economy during the first several months of a devastating lockdown. Continue Reading Below The Dow Jones Industrial Average fell […]

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Pinnacle shares soar on healthy profit report

Pinnacle Investment Management has committed to paying a dividend to its shareholders after reporting an increase in profits and funds, in a positive sign for active managers looking to prove their mettle against the cheap, index-fund competitors. ASX-listed Pinnacle manages funds for retail and institutional clients across 17 boutique investment managers, including Hyperion and Plato, that each have different client […]

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Banks’ deferred loans hit $274b as more borrowers pause payments

Australian banks allowed borrowers owing another $40 billion to pause their repayments in June as an emergency response to the coronavirus, taking the total value of deferred home loans and small business loans to $274 billion. Official figures on Tuesday showed that even before Victoria's second lockdown, the stock of deferred loans held by banks was still accumulating, despite a […]

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Lebanese Foreign Minister Hitti Resigns, Warns ‘Boat May Sink’

Follow us @middleeast for more news on the region. Lebanon’s foreign minister resigned on Monday, accusing colleagues of lacking any intention to institute meaningful reforms and warning that conflicting interests threatened to turn the country into “a failed state.” Nassif Hitti, 67, had been in the post less than seven months, and his departure after so short a time reflects […]

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