Liquor Giant Moutai Poised to Become China’s Biggest Stock

Chinese liquor giant Kweichow Moutai Co. is close to dethroning Industrial & Commercial Bank of China Ltd. as the nation’s biggest stock by market value. The distiller, which makes baijiu out of sorghum and wheat from southwest China, had a market capitalization of 1.81 trillion yuan ($255 billion) as of Friday afternoon, versus ICBC’s 1.80 trillion yuan. The distiller’s stock […]

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There’s a New Virus-Themed ETF and It Trades Under Ticker GERM

ETF Managers Group launched an exchange-traded fund tracking companies focused on testing and treatments of infectious diseases. The ETFMG Treatments, Testing and Advancements ETF, which started trading Thursday under the ticker GERM, gives access to both established biotechnology companies and “unsung heroes,” the firm said in a statement. The fund tracks an index whose biggest holding is Moderna Inc., a […]

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Which countries hold the most US debt?

Should investors cut back on Treasury positions? Brandywine Global portfolio manager Jack Mcintyre says his company is cutting back on Treasury positions amid coronavirus fears. The U.S. Treasury issues debt to help the government meet the gap between the amount of money it spends and the revenue it receives. Continue Reading Below The U.S. had $25 trillion of debt outstanding […]

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Bank of England Makes Slow Progress on Management Diversity Aims

The Bank of England is making slow progress in its attempts to improve ethnic and gender diversity among its senior management, risking missing its own goal for female representation at the end of this year. The central bank has managed to increase the proportion of Black, Asian and Minority Ethnic staff occupying senior positions to 7% this year, according to […]

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Fed’s Jobs, Inflation Mandates Blur ‘70s Law Aimed at Inequality

Federal Reserve Chair Jerome Powell is testifying before Congress this week in hearings mandated by a 1978 law that was meant to prevent mass joblessness and dissolve racial inequality. Neither has happened. The Humphrey-Hawkins Act is instead mostly known for giving the U.S. central bank its “dual mandate” of maintaining full employment and price stability. But the legislation, championed by […]

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RBA Saw Australian House Prices Falling 7% Over the Next Year

Australia’s central bank expected house prices to fall 7% in the year ahead under its baseline scenario for the Covid-19 pandemic, documents from May released under a Freedom of Information request showed. In the upside scenario for the economy, prices were forecast to slide 2%. Yet prices could plunge 15% under the downside scenario, according to a research paper produced […]

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Trump administration wants changes to global tariffs

Fox Business Flash top headlines for June 16 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Global trade and tariffs will be a focus on Capitol Hill on Wednesday. Continue Reading Below U.S. trade representative Robert Lighthizer will present the Trump administration's plans to have the World Trade Organization's policies updated. GET FOX BUSINESS ON […]

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Reserve Bank of India May Look at Japan Playbook to Tame Yields

India’s central bank may adopt its own version of yield-curve control as it digs deeper into its toolbox to cushion the economy during the coronavirus pandemic, according to a unit of the country’s second-largest private lender. The Reserve Bank of India may buy debt at irregular intervals to tame spikes in yields as it seeks to accelerate transmission of cuts […]

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