Archive

EU-Italy Budget Deal Strengthens Euro Dollar

  Yesterday, the euro surged against most of the currencies, excluding the extremely strong yen. In particular, the EURUSD pair gained more than 50 pips to trade at 1.1450 levels. Three factors paved the way for the common currency of

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Marlboro maker Altria Invests $12.8 Billion in Juul

  Marlboro maker Altria Group, Inc. (NYSE: MO) announced on Thursday that it had taken a 35% stake in Juul Labs Inc., an e-cigarette firm, in an all-cash deal worth $12.8 billion. The investment enables Altria to expand its portfolio

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Kiwi Dollar Plunges On Poor GDP Data, Fed Rate Hike

  The New Zealand dollar plunged after the US Federal Reserve raised its benchmark interest rates yesterday. Mixed economic data also amplified the Kiwi dollar’s losses against the greenback. The NZDUSD pair has fallen to 0.6700, from 0.6840 in the

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Spain’s ACCIONA To Track Power Generation With Blockchain

  The cryptocurrency market continues to extend the gains it had at the beginning of this week. In particular, Bitcoin (BTC) has gained nearly 22% in the past three days to trade at $3,800 levels. Altcoins such as Ethereum (ETH),

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Canadian Dollar Down On Poor Mfg. Sales, Oil Glut Worries

  The Canadian dollar recorded a near one-and-a-half-year low against the greenback yesterday after crude oil prices declined sharply. Poor macroeconomic data also played a part in pushing the Canadian dollar to new lows.   Crude oil price decline trigger

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Tilray Inks Medical Cannabis Sales Deal With Novartis

  Tilray, Inc. (NASDAQ: TLRY) announced early on Tuesday that it has entered into a worldwide supply and distribution contract with the pharmaceutical giant, Novartis AG (NYSE: NVS) for therapeutic marijuana, continuing a tendency of legacy industries associating with the

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Fed Manufacturing index Plunges To 19-Month Low

  Yesterday, the US dollar opened at Friday’s elevated levels of 113.70 but was unable to sustain against most of its G10 rivals, including the yen. Weak economic data took a toll on the greenback, while uncertainty due to trade

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French MPs Suggest Spending €500mln On Blockchain Tech

  The cryptocurrency market has begun the week in the green, with major altcoins gaining slightly against the US dollar. However, there is not much to cheer about as the weekend saw Bitcoin falling to about $3,100 levels. On a

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Euro Plunges As French Manufacturing Industry Contracts

  On Friday, the euro recorded new monthly lows against the greenback in the early European session following the release of a flurry of disappointing flash PMI readings for the eurozone by IHS Markit. Later that day, in the early

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Mylan Wins Controversial Patent Case Against Sanofi’s Lantus

  Global generic and specialty pharmaceutical company Mylan NV (NASDAQ: MYL) reported the US Patent and Trademark Appeal board had concluded in its favor in a patent controversy with France’s Sanofi SA (NYSE: SNY). In other, but related news, CFRA

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