The Valero Houston refinery. Valero Energy Corp. and Turkiye Petrol Rafinerileri AS have seen stellar rises, while Orlen SA gained more than 100% year-to-date. (Bloomberg) — It’s a great time to be an oil refiner — but a less great time to be filling up at the pump. Most Read from Bloomberg In Europe, the…
(Bloomberg) — The Goldman Sachs Group Inc. strategist who correctly predicted Wall Street’s underperformance this year expects US equities to keep lagging for the next decade. Most Read from Bloomberg Peter Oppenheimer and his team recommended that investors increase diversification beyond the US as elevated stock valuations put a lid on gains. They expect the…
(Bloomberg) — FanDuel, the US online gambling division of Flutter Entertainment Plc, is launching its own prediction market product, which will allow it to open up in states where traditional sports betting is illegal and deal with competitive pressure from new startup exchanges in the space. The company plans to introduce a new mobile app…
Chinese President Xi Jinping has vowed to increase imports from Spain and deepen trade collaboration with Madrid in Latin America, amid rising tensions with Europe. Xi made the pledge during a meeting with Spain’s King Felipe in Beijing on Wednesday. “China is willing to import more high-quality products from Spain, explore cooperation potential in emerging…
This article first appeared on GuruFocus. The dollar is regaining its shine as global investors rediscover its yield power. After months of Sell America talk and a bruising 7% slide in the Bloomberg Dollar Spot Index its steepest in eight years the greenback has quietly climbed back about 3% from September lows. Bloomberg data shows…
Hellman & Friedman engineered a strategy that allowed it to cut its stake in Verisure via an IPO. (Bloomberg) — Private equity firms are facing a double dilemma. IPO markets, the usual path for exiting investments, have been gradually reopening, but not enough for them to cash out completely. Option B for getting paid, borrowing…
(Bloomberg) — China on Sunday confirmed that it has taken steps to exempt compliant exports of Nexperia chips intended for civilian use, while urging the European side to make progress in resolving the clash that threatens to disrupt global auto production. “China has taken practical measures to exempt compliant exports for civilian use,” a Ministry…
The Trump administration has made quantum computing development a priority. (Bloomberg) — Rigetti Computing Inc (RGTI). and D-Wave Quantum Inc. (QBTS) make products that so far have few real world applications. They’re burning through cash and aren’t expected to generate significant amounts of revenue for years. Despite all that, investors can’t get enough of them….
(Bloomberg) — Dutch Prime Minister Dick Schoof said China has agreed to resume deliveries of Nexperia chips from plants in the country, signaling a potential breakthrough in a clash that risked disrupting global auto production. “We were informed by China that they will enable the resumption of supplies from Chinese factories from Nexperia,” Schoof said…
At a meeting in Brussels last month, foreign ministers from the European Union’s 27 member states sat down to discuss the bloc’s plans for the Indo-Pacific region. The conversation, according to several people familiar with it, lasted just seven minutes. It is perhaps unsurprising, then, that officials, diplomats and experts are groaning about the lack…