Stock-building: China resorts to huge agri imports

Beijing’s buying spree has prevented global farm commodity prices from a free fall in the aftermath of the pandemic. Beating the Covid-19 blues, China has been importing farm products at a brisk pace this year in an apparent bid to take advantage of relatively stable global prices and replenish its depleting food inventory. While China’s purchases are expected to continue unabated in the coming months, this massive import drive hasn’t quite benefited India. Between March and October, China’s imports of wheat shot up by almost 232% year on year to six million tonne, while those of pork jumped by 135% to […]

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Justice Department Clears Intuit to Buy Credit Karma

The Justice Department cleared Credit Karma Inc.’s pending $7.1 billion sale to TurboTax maker Intuit Inc. after the two companies agreed to divest Credit Karma’s burgeoning tax-preparation business to satisfy antitrust concerns. Under a proposed settlement filed in federal court in Washington, D.C., Wednesday, Credit Karma and Intuit said they would sell Credit Karma Tax to Square Inc., the financial-technology company run by Twitter Inc. Chief Executive Jack Dorsey. The Wall Street Journal reported last month that Square… Source link

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WSJ News Exclusive | Salesforce Is in Advanced Talks to Buy Slack Technologies

Salesforce.com Inc. is in advanced talks to buy Slack Technologies Inc., according to people familiar with the matter, a deal that would unite a giant in business software with a buzzy newcomer on a mission to replace office email. The companies could reach a deal within days—possibly by the time Salesforce reports its third-quarter financial results Tuesday, some of the people said. Slack, with a market value of more than $17 billion as of Wednesday morning, would be Salesforce’s largest acquisition ever. There is no guarantee… Source link

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Covid Won’t Steal Christmas

This holiday season will be different from any other, including what people choose to spend money on. This year’s Black Friday comes at a critical juncture. New Covid-19 cases are rising sharply, millions of people remain out of work and a number of pandemic-assistance programs put in place during the spring stimulus rounds are set to expire at the end of the year. Yet… Source link

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Can RadioShack Be the Right Type of Retro?

The Shack is back! Well, sort of. Once-dominant electronics retailer RadioShack had become a punchline even before twice going bankrupt, but a group of entrepreneurs with a penchant for iconic brands have purchased the name and launched an online marketplace ahead of the holidays, The Wall Street Journal reported last week. The results appear mixed. Their “trending products” at the top of the page are all various wired and Bluetooth headphones and all are sold out. Scrolling down, one immediately sees products that, sadly, are in demand these days and do appear to be in stock: a noncontact infrared thermometer (22% […]

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Cabinet nod to Rs 6,000-cr NIIF infusion; To enable Rs 1-lakh-crore debt finance for infra projects

The proposal was part of the Atma Nirbhar Bharat 3.0 package announced on November 12. To catalyse debt funding of infrastructure projects, the Cabinet on Wednesday approved a proposal to infuse Rs 6,000 crore in the debt platform of the National Investment and Infrastructure Fund (NIIF) over two years. The capital infusion is expected to enable the two NIIF-sponsored incorporated entities to raise Rs 1 lakh crore in debt over five years. The NIIF will also try to rope in equity investors – domestic and global pension, insurance and sovereign wealth funds – in the debt platform, which could further its […]

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Gap, Deere, HP, Nikola: What to Watch When the Market Opens Today

Here’s what we are watching as markets kick into gear Wednesday: —U. S. stock futures wavered a day after the Dow Jones Industrial Average breached 30000 for the first time, and as investors looked ahead to a packed day of economic data. Futures tied to the S&P 500 were down 0.1%, and Dow futures edged 0.2% lower. Nasdaq-100 futures were up 0.3%. —About 778,000 Americans applied for unemployment benefits in the week ended Nov. 21., up from 742,000 a week earlier. Economists had expected unemployment claims to edge down to 733,000. —U.S. durable-goods orders grew 1.3% in October, increasing for the sixth consecutive […]

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DOL Fiduciary Regulation for Retirement Plans Is Now in Limbo

In June, the U.S. Department of Labor proposed a regulation to change the rules governing advice in retirement accounts to align with another Trump administration standard. But delays in finalizing the proposal, likely due in part to financial-industry opposition, have left it vulnerable to being scrapped after President-elect Joe Biden takes office. “Time is quickly running out” on the proposed rule, said Jason Berkowitz, chief legal and regulatory affairs officer at the Insured Retirement Institute, a trade association for… Source link

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