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Category: Markets

GBP News 

What happens the next day if there is no deal?

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“But if the UK leaves without a deal, all changes and drivers will be expected to carry a green card when in mainland Europe and Ireland” writes Miles Brignall for theguardian.com. Irish insurers have prepared 400,000 green card forms in the event of no deal, and some UK insurers are now proactively sending green cards to customers in Northern Ireland.A future trade deal with the EU would include the abolition of, or limits to, mobile roaming charges, they have said.Without a deal, they face having to queue with all non-EU…

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Crypto News 

Two Companies Used Crypto to Pay Taxes in Ohio, Says State Treasurer

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“Two businesses in the United States state of Ohio have paid taxes with cryptocurrencies, state Treasurer Robert Sprague said in a forum on Feb. 19” writes Helen Partz for cointelegraph.com. Ohio became the first state to allow businesses to pay taxes with cryptocurrencies like Bitcoin (BTC) in November 2018.When the state passed the law allowing business to pay taxes in crypto, then state Treasurer Josh Mandel said that the legislation “plants a flag” in Ohio in terms of national cryptocurrency adoption.With that, Sprague emphasized that the Ohio state treasury does…

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News Regulators 

Fed’s policy pause sets stage for broad overhaul

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“A Fed economic report released Friday showed why concerns about weak inflation have suddenly taken root” reports businessinsider.com. Investors have in recent months complained that financial conditions are tightening because of the Fed’s gradual reductions to its balance sheet, swollen from trillions of dollars of bond-buying in the post-crisis years.Though Clarida suggested the result of the policy review, expected to be complete by the first half of 2020, it could be that the Fed sticks with its current policy.Louis Fed President James Bullard went so far as to suggest that…

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News Regulators 

Trump’s economy ‘a little under’ 3 percent growth goal: Fed

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“By year’s end, the impact of tax cuts and other policies was waning, trade was detracting from growth and the federal deficit was wider” reports businessinsider.com. The Fed’s estimate of last year’s growth fills a void left by the recent government shutdown, which delayed publication of the first estimates for fourth-quarter and full-year 2018 growth by the Bureau of Economic Analysis.Earlier this month White House economic adviser Larry Kudlow said growth would prove to be 3 percent in 2018 and at least that much for 2019 – a forecast the…

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News Stocks 

Kraft Heinz downgraded multiple times after earnings announcement filled with bad news

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“Kraft Heinz Inc. made multiple negative announcements on Thursday and saw its stock downgraded multiple times by analysts on Friday as a result” writes Tonya Garcia for marketwatch.com. Stifel downgraded Kraft Heinz to hold from buy and slashed the price target to $35 from $72. “Flat, shrunk and levered is no way to go through life,” wrote J.P. Morgan analysts in the headline of its note, downgrading Kraft Heinz to neutral from overweight.Taking margins and EBITDA (earnings before interest, taxes, depreciation and amortization) deterioration into account, UBS analysts don’t think…

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Markets News Regulators 

Fed gets earful from Fidelity executive for roiling global financial markets

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“Lisa Emsbo-Mattingly, director of research in the global asset allocation group at Fidelity Investments, said the turmoil experienced by financial markets in the fourth quarter was the unwinding of search-for-yield investments put in place by investors as a result of global central bank asset purchases” writes Senior Economics Reporter for marketwatch.com. Central bank asset purchases also led to a dramatic explosion of debt in China, she said.Global investors had been trained to expect that central banks would be buying assets.They said these policies were simply leading global investors to put…

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News Oil 

U.S. oil settles higher, carves out nearly 3 1/2-month peak as China tariff talks progress

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“On Friday, for example, Baker Hughes BHGE, +0.00% weekly rig-count data showed the rigs drilling for oil edged back by four to 853” writes Mark Decambre for marketwatch.com. China is a big importer of oil and its tiff on tariffs with Washington has been a drag on the commodity until recent signs of progress on talks emerged.News reports said President Donald Trump would meet with China’s top trade negotiator, Vice Premier Liu He, which has underscored optimism that a deal between China and the U.S. will strike a trade deal…

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Markets News Regulators Stocks 

‘Father of Reaganomics’ says ‘get out of the market’ — bond and stock market — ‘and put your money in cash’

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“However, his White House and fiscal policy pedigree have made him a hard-to-ignore voice on the outlook for the market and the economy” writes Mark Decambre for marketwatch.com. David Stockman, the so-called “Father of Reaganomics,” is at it again with his most recent prognostication of doom for Wall Street and the broader economy, even as the stock market tests fresh highs for the year.However, thus far the market has bounded higher after shaking off a withering decline toward the end of 2018 that culminated in the worst Christmas Eve drop…

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Crypto News 

The last time traders were this bullish on Ether it suffered a 40% tumble

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“Since the beginning of the year, Ether has climbed 38%, outperforming the best-known cryptocurrency, bitcoin, BTCUSD, +1.25% which has gained 14%” writes Aaron Hankin for marketwatch.com. With a single Ether ETHUSD, +2.75%  fetching around $146, a 40% decline would see the coin trade below $90 and a decline of 16.8% — the average 10-day fall when positioning reaches these extremes — would see the price fall to around $121. Source: marketwatch.com

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