• Fortune 500 CEOs still want to invest in the U.S.-and China

    5 days ago - By Fortune

    Good morning.
    One final insight from our annual Fortune 500 CEO poll: We asked the CEOs where in the world they saw the best opportunities to invest. Seventy-five percent of them said the U.S. was still number one on their list-the same as last year. Only 10% said China was the best place to invest-roughly the same as last year's 11 percent.
    That suggests that the pandemic hasn't really changed the investment preferences of the 500. Some pundits had predicted rising nationalism after the pandemic would lead to a new look at Chinese supply chains. Others predicted China's success in...
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  • China Drops Economic Growth Target For The First Time Amid ‘Great Uncertainty'

    5 days ago - By Forbes

    It's the latest sign of the damaging toll that the pandemic has taken on the world's second biggest economy.
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  • First piece of disputed Keystone XL pipeline finished

    First piece of disputed Keystone XL pipeline finished

    5 days ago - By Stl Today

    BILLINGS, Mont. - A Canadian company has built the first piece of the disputed Keystone XL oil sands pipeline across the U.S. border and started work on labor camps in Montana and South Dakota. But it has not resolved...
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  • China ditches GDP target for first time

    5 days ago - By Reuters

    China will refrain from setting a GDP target citing concerns over the coronavirus and global uncertainty, the country's premier said on Friday. Ciara Lee reports
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  • Hong Kong tensions unnerve world stocks, oil tumbles

    5 days ago - By Reuters

    World stocks took a hit and the Chinese yuan weakened on Friday as Beijing moved to impose a new security law on Hong Kong after last year's pro-democracy unrest, further straining fast-deteriorating U.S.-China ties.
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  • Futures retreat as Sino-U.S. tensions simmer

    5 days ago - By Reuters

    U.S. stock index futures retreated on Friday as growing tensions between Washington and Beijing added to fears of a slower recovery from a coronavirus-led recession.
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  • China ditches its annual growth target for the first time as coronavirus hammers the world's 2nd largest economy

    China ditches its annual growth target for the first time as coronavirus hammers the world's 2nd largest economy

    5 days ago - By Business Insider

    China ditched its annual growth projection for the first time in decades in a rare move that shows the true scale of the coronavirus economic impact.
    Every year China sets a formal target for GDP growth, usually around 6%, and generally meets it.
    However, the uncertainty caused by the coronavirus led to its scrapping.
    "Our country will face certain factors that are difficult to predict in its development," Li Keqiang, the Chinese premier and President Xi Jinping's number two, said.
    Analysts say China's timing could not be worse in both ditching its GDP target and establishing a new...
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  • U.S. shale bust slams rural economies as oil checks shrivel

    5 days ago - By Reuters

    Royalties from oil pumped on Paul Ruckman's land allowed the South Texas retiree to build a six-bedroom, seven-bathroom vacation home. He had plenty left over, and donated some of it to Helena, Texas, an 1800s ghost town that draws hundreds to historic buildings and gunfight re-enactments.
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  • Pick Halliburton Over Chevron To Play The Oil Recovery

    5 days ago - By Forbes

    The stock price for Chevron, the second-largest integrated oil and gas company in the U.S. is down by almost 20% since the beginning of 2018, driven by significant declines in crude oil prices. In comparison, oilfield services major Halliburton has seen its stock decline by 74% over the same period.
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  • Coronavirus Live Updates: U.S. Faces Economic Downturn ‘Without Modern Precedent,' Fed Chief Warns

    5 days ago - By NY Times

    Fraud network targets unemployment programs as jobless claims near 39 million. Flags were ordered lowered over Memorial Day weekend for those who died from the virus.
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  • ‘The Chinese consumer is back:' This analyst says China is experiencing a V-shaped recovery

    ‘The Chinese consumer is back:' This analyst says China is experiencing a V-shaped recovery

    5 days ago - By Fortune

    The shape of China's economic recovery has been up for debate since early 2020 as Beijing shut down much of the economy and put huge swaths of its population under lockdown from late January through April in a largely successful effort to contain COVID-19.
    Economists initially predicted it would resemble a V, with the bounce-back coming as quickly as the decline. But as China's lockdowns dragged into their second and third months , a more gradual recovery in the form of a U looked increasingly likely. Then there are those in the ‘Nike swoosh' camp, who predict the recovery will follow a...
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  • Oil drops over 5% on China-U.S. tensions, demand doubts

    5 days ago - By Reuters

    Oil fell over 5% on Friday towards $34 a barrel as tensions rose between the United States and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.
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  • Oil prices drop as China-U.S. tensions grow, Beijing fails to set economic growth target

    5 days ago - By Reuters

    Oil prices fell on Friday as tensions rose between the U.S. and China and as Beijing failed to set target for economic growth this year, stoking concern that the coronavirus pandemic will overshadow fuel demand in the world's second-largest oil user.
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