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☆ 2 big reasons gold prices are set to surge 9% by early next year, according to Goldman Sachs
▼ + stars: | 2024-10-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Goldman Sachs predicts gold prices will hit $2,900 per troy ounce by early 2025. AdvertisementThe price of gold is set to extend its record-setting rally to new highs by early 2025, according to a note from Goldman Sachs. Goldman boosted its gold price target to $2,900 per troy ounce from $2,700, representing upside of about 9% from current levels. AdvertisementSuch gains would come after gold prices have already rallied 29% year-to-date. Goldman highlighted that the central banks of emerging market countries like China are behind the structural advance of gold prices since 2022.

Persons: Goldman Sachs, Goldman, —, Lina Thomas, Thomas Organizations: Service, London OTC Locations: China, London, Israel, Iran, East

☆ No need to sell this AI data center play ahead of earnings — and updates on 3 more industrial stocks
▼ + stars: | 2024-10-02 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Deutsche Bank is striking a cautious tone on Dover 's stock ahead of the industrial conglomerate's upcoming earnings report. Late Tuesday, Deutsche Bank listed Dover as a short-term sell idea, suggesting the company will report underwhelming results that may pressure shares later this month. Other industrial stocks in our portfolio received price target increases this week, including Eaton, Stanley Black & Decker and Honeywell . Both firms raised their price target on the DeWalt owner's stock to $100 a share from $96 while maintaining hold or hold-equivalent ratings. Honeywell's price target was increased only slightly at Deutsche Bank — up merely $1 to $226 a share — and left unchanged at Barclays.

Persons: Jim Cramer, industrials, Barclays –, Stanley Black, Decker, Jim, Dover, Richard Tobin, there's, DOV YTD, DOV, It's, Eaton, Vimal Kapur, Jim Cramer's, SWK Organizations: Deutsche Bank, Federal Reserve, Barclays, Environmental Solutions, Wednesday, Honeywell, Deutsche Bank —, Barclays . Deutsche Bank, CNBC, Luza Locations: Dover, Eaton

☆ South Korea inflation cools more than expected as rate cut talk grows
▼ + stars: | 2024-10-02 | by ( ) www.cnbc.com time to read: +1 min

Pedestrians walk past food stalls and shops in the Myeongdong shopping district of Seoul on March 26, 2024. South Korea's consumer inflation cooled more than forecast in September and below the central bank's target for the first time since early 2021, amid growing expectations of an imminent policy easing. The consumer price index rose 1.6% in September from a year earlier, after a rise of 1.9% in August, data from Statistics Korea showed on Wednesday. It was weaker than a median 1.9% increase tipped in a Reuters poll of economists and marked the weakest annual increase since February 2021. The reading was below the Bank of Korea's medium-term target of 2% and comes amid growing talk among policymakers and market participants about an imminent interest rate cut with the next policy meeting scheduled for Oct. 11.

Organizations: Statistics Korea, Bank of Locations: Seoul

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Persons: Cardholders, cardholders, they've, Nordstrom, Wells, You'll, Sephora, it's, Ariana Arghandewal Ariana Arghandewal, Ariana, Guy, Education Ariana, ExperienceExpertiseEducation Read Organizations: Business Insider, U.S . Bank, Card, Bank, Citi, Amazon, Visa, Foods, Chase Travel, American, American Express, U.S, Apple, . Bank, Best, EV, Costco, Bank of America, The Bank of America, Disney, Chase, Hulu, ESPN, Home Depot, Depot, Nordstrom, Nordy Club, Navy, Old Navy, Wells, PayPal, Mastercard, Target, Privileges, JetBlue, Wyndham Rewards, Walgreens, Walgreens Mastercard, Citibank, Business, Bankrate, CNBC, CNN, Forbes, Lonely, NBC, Traveler University, CardCon, Chicago, Expertise, Education, University of Southern Locations: Nordstrom, Banana Republic, Old, Sephora, Target, Ulta, Chevron, University of Southern California

☆ ‘No challenges can stop China’s progress,’ Xi Jinping says in 75th anniversary speech
▼ + stars: | 2024-10-01 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +3 min

BEIJING — Chinese President Xi Jinping said Monday that no challenges can stop the country from moving forward and reiterated Beijing’s reunification aims with Taiwan. “The path ahead will definitely see challenges,” Xi said, before calling on the country to overcome uncertainties and risks. “No challenges can stop China’s progress.”The comments were translated by CNBC from a Chinese state media broadcast. Xi did not mention specific countries or trade conflicts in his Monday speech, instead portraying China as upholding globalization. In a 2019 speech commemorating the PRC’s 70th anniversary, Xi had said that no force could sway China’s development, amid festivities involving a military parade and large-scale celebrations.

Persons: Xi Jinping, ” Xi, Xi, Beijing’s, “, ” Organizations: CNBC, Communist Party’s, Macao —, People’s Bank of, Ministry of Finance Locations: BEIJING, Taiwan, People’s Republic of China, Beijing, China, U.S, Europe, Greater China, Hong Kong, Macao, People’s Bank of China

"Thanks for showing up for us," Erik Hooks, the deputy administrator at the Federal Emergency Management Agency told her. Harris plans to visit areas smacked by the storm “as soon as possible without disrupting emergency response operations,” a White House official said. In North Carolina, recent polls from CNN and Marist showed Harris and Trump tied at 49-49%. Looking to capitalize on the moment, Trump has tried to paint Harris as inept in her response to the hurricane. Then there were reports that he once asked officials if he could use a nuclear bomb to destroy a hurricane.

Persons: WASHINGTON, Kamala Harris, Republican Donald Trump, Hurricane Maria, ”, Whit Ayres, ” Harris, hustling, Hurricane Helene, Erik Hooks, Harris, Trump, —, Brian Kemp, Joe Biden, Kemp, ” Kemp, Biden, “, Caitlin Legacki, You’ll, Donald Trump, Johnny Carson, aren’t, Alex Conant, George W, Bush, ” Conant, Hassan Nasrallah, ” Trump, Dorian, Nikki Fried Organizations: Republican, Hurricane, Federal Emergency Management Agency, White, Georgia Republican, Air Force, CNN, Marist, Fox, CBS News, Trump, Democratic, North, Hezbollah, Biden, House, Puerto Ricans, Florida Democratic Party Locations: Puerto, Nevada, Washington ,, Hurricane, ”, Valdosta , Georgia, Georgia, North Carolina, Asheville, Boone, U.S, Israel, Washington, Lebanon, Alabama

☆ Euro zone inflation falls to 1.8% in September, below the European Central Bank's 2% target
▼ + stars: | 2024-10-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Euro zone inflation fell to 1.8% in September, coming in below the European Central Bank's 2% target, flash data from statistics agency Eurostat showed Tuesday. The reading was in line with the expectations of economists polled by Reuters, after annual inflation hit a three-year-low of 2.2% in August. The core inflation rate, which excludes more volatile energy, food, alcohol and tobacco prices, came in at 2.7%. The figures come after September inflation eased below the 2% European Central Bank target in several key euro zone economies, including France and Germany. European Central Bank President Christine Lagarde on Monday said that policymakers were becoming more confident about inflation returning to the 2% target.

Persons: Christine Lagarde, Lagarde Organizations: Central, Reuters, Central Bank, European Central Bank, European Parliament's, Economic, Monetary Affairs Locations: A Coruna, Spain, France, Germany

☆ Bank of America joins growing chorus on Wall Street loving this sector to play China's stimulus
▼ + stars: | 2024-10-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

A major Wall Street strategist is jumping aboard the story that materials stocks could be at the start of a big rally. That theory played out during last week's rally for Chinese stocks. The Materials Select Sector SPDR Fund (XLB) rose 3% last week, though it was down a bit on Monday and Tuesday. XLB 1M mountain This materials fund is up since the Chinese stock rally began. Bank of America isn't the only Wall Street shop that's bullish on materials given the change in China.

Persons: Savita Subramanian, Sherwin, Subramanian, Roth MKM's JC O'Hara Organizations: Bank of America, Linde Locations: China, Freeport, McMoRan

☆ The U.S. stocks set to benefit most from China's 'bazooka' stimulus, according to Barclays
▼ + stars: | 2024-10-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A major stimulus deal coming out of China could offer a windfall for some U.S. stocks with significant ties to the world's second-largest economy, according to Barclays. Against this backdrop, the firm screened for companies with high sales exposure to China and low volatility. Here are some of the potential winners: Barclays named casino and resort operator Wynn Resorts among the beneficiaries of a China stimulus deal, with 48% sales exposure to China. Qualcomm is another winner, with 62% sales exposure to China and the second-highest among the stocks that made the cut. Some underperforming stocks could also benefit from China's stimulus plan, including Albemarle .

Persons: Stefano Pascale, Pascale Organizations: Barclays, Wynn Resorts, Qualcomm, Merck, Western Locations: China, Albemarle

☆ Mastercard to buy Swedish startup that makes it easier to manage and cancel subscription plans
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

BARCELONA, SPAIN - MARCH 01: A view of the MasterCard company logo on their stand during the Mobile World Congress on March 1, 2017 in Barcelona, Spain. (Photo by Joan Cros Garcia/Corbis via Getty Images)Mastercard said Tuesday that it's agreed to acquire Minna Technologies, a software firm that makes it easier for consumers to manage their subscriptions. Minna Technologies, which is based in Gothenburg, Sweden, develops technology that helps consumers manage subscriptions within their banking apps and websites, regardless of which payment method they used for their subscriptions. The company said it works with some of the world's largest financial institutions in the world today. Consumers today often have tons of subscriptions to manage across multiple services such as Netflix, Amazon and Disney Plus.

Persons: Joan Cros Garcia, Corbis, it's, Minna Organizations: MasterCard, Mobile, Congress, Getty Images, Mastercard, Minna Technologies, Visa, Netflix, Disney Plus Locations: BARCELONA, SPAIN, Barcelona, Spain, Gothenburg, Sweden

☆ China's stock surge has echoes of the 2015 bubble. What's different this time
▼ + stars: | 2024-10-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Costfoto | Nurphoto | Getty ImagesBEIJING — The rocket higher in Chinese stocks so far looks different from the market bubble in 2015, analysts said. Major mainland China stock indexes surged by more than 8% Monday, extending a winning streak on the back of stimulus hopes. Stock market leverage by percentage and value were far higher in 2015 than data for Monday showed, according to Wind Information. He added that there are market risks from how unprepared the stock trading system was for the surge of buying. Reports indicate brokerages have been overwhelmed with new requests, echoing how individuals piled into the stock market nearly a decade earlier.

Persons: Aaron Costello, We're, Xi Jinping, Zhu Ning, Stephen Roach, Yale Law School's Paul Tsai, Costello, Peter Alexander, it's, —, Alexander Organizations: Nurphoto, Getty, Cambridge Associates, U.S ., greenback, U.S, CSI, People's Bank of China, Nikkei, Yale Law, Yale Law School's Paul Tsai China Center, Ministry of Finance, Ben Advisors, Shanghai Stock Exchange Locations: Hangzhou, China, BEIJING, Shanghai, Shenzhen, Asia, MSCI, People's Republic of China, Beijing

☆ With shares at 10-year lows, Assassin's Creed maker Ubisoft faces questions over its future
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

In this article UBI-FR Follow your favorite stocks CREATE FREE ACCOUNTUbisoft postponed the release of the next title in its popular "Assassin's Creed" game franchise — called "Assassin's Creed Shadows" — by three months to Feb. 14, 2025. The company, which produces the "Assassin's Creed" franchise, said in updated guidance last week that it has postponed the release of the next title in the popular game series — called "Assassin's Creed Shadows" — by three months to Feb. 14, 2025. "The revised targets are mainly a reflection of decisions taken for Assassin's Creed Shadows and the softer than expected launch for Star Wars Outlaws," Ubisoft said. Ubisoft said that its learnings from the Star Wars Outlaws release pushed it to give more time to polish Assassin's Creed Shadows. Yves Guillemot, CEO and co-founder of Ubisoft, speaks at the Ubisoft Forward livestream event in Los Angeles, California, on June 12, 2023.

Persons: John Keeble, —, Yves Guillemot, Robyn Beck, AJ, Tencent, George Brown, Daniel Kerven, David W Peat, Ubisoft's, Michael Pachter, Alicia Reese, Kade, James Lockyer, Peel Hunt, Covid, Lockyer Organizations: Ubisoft, Getty, Star Wars, Star, Valve, Games, AFP, AJ Investments, CNBC, Deutsche Bank, Deutsche, JPMorgan, Wedbush Securities, company's Star Wars, Outlaws Locations: Los Angeles , California, France, Montreuil , Paris

☆ Beijing needs to follow through economic reforms
▼ + stars: | 2024-10-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBeijing needs to follow through economic reforms for the market rally to be 'more than a trade'David Riedel of Riedel Research Group explains why he is cautious on Chinese airlines and bank stocks.

Persons: David Riedel Organizations: Beijing, Riedel Research

☆ Citi Private Bank: Potential for Chinese market rally to continue into year-end
▼ + stars: | 2024-10-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCiti Private Bank: Potential for Chinese market rally to continue into year-endCarl Ashton from Citi Private Bank discusses the recent rally in the Chinese market on the back of the PBOC's new stimulus. He adds that depending on the effectiveness of the PBOC's fiscal policies, the rally may even extend until 2025.

Persons: Carl Ashton Organizations: Citi Private Bank

New Delhi CNN —Fans eagerly awaiting the return of Coldplay to India were shocked to find tickets being resold online for as much as $11,000, prompting police to seek a statement from the CEO of the shows’ vendor over allegations of fraud. Tickets were scheduled to go on sale by the official vendor, BookMyShow (BMS), at 12 p.m. local time on September 22. Amit Vyas, a lawyer and founding partner of Mumbai law firm Vertices Partners, was among fans waiting for tickets on the vendor’s website when he was suddenly locked out. The complaint was in connection with the alleged sale of fake tickets for concerts on certain platforms, according to CNN affiliate News18. Coldplay fans told CNN their attempts to buy tickets to January’s shows at DY Patil Stadium in Mumbai left them frustrated and disappointed.

Persons: New Delhi CNN —, Amit Vyas, ” Vyas, BookMyShow, Ashish Hemjarani, Arkatapa Basu, “, ”, Ishaan, Taylor Organizations: New, New Delhi CNN, Coldplay, Bank, Partners, CNN, News18, Oasis, Ticketmaster Locations: New Delhi, India, British, Mumbai, Mumbai –, Delhi –, Bengaluru, Delhi, Abu Dhabi

☆ CNBC Daily Open: Markets just had an expectations-defying month
▼ + stars: | 2024-10-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning month and quarterU.S. markets rose on Monday to finish a winning month and quarter. In a filing, Cerebras reported a net loss of $127.2 million on revenue of $78.7 million for 2023. Markets predict measured response from IranIsrael has escalated fighting with Lebanese militia group Hezbollah, hitting Iran's proxy network across the Middle East.

Persons: Tesla, Jerome Powell, Powell, Cerebras, Michael Santoli Organizations: CNBC, . Federal, National Association for Business Economics, Nvidia, Systems, Nasdaq, Lebanese, Hezbollah Locations: Milan, Stellantis, Iran Israel, Iran, U.S, Beijing

☆ CNBC Daily Open: Markets defied expectations last month
▼ + stars: | 2024-10-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading on May 24, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning month and quarterU.S. markets rose on Monday to finish a winning month and quarter. While that may remind investors of the 2015 bubble, when the Chinese stock market doubled in value over six months, analysts think things are different this time.

Persons: Tesla, Jerome Powell, Powell, Cerebras, Stocks Organizations: New York Stock Exchange, CNBC, Nikkei, . Federal, National Association for Business Economics, Nvidia, Systems, Nasdaq, CSI, CNBC Pro Locations: New York City, Asia, Pacific, China, Hong Kong, South

Best Personal Loans for Quick FundingHere are Business Insider's picks for the best personal loans for quick funding:Compare Personal Loan RatesTop Quick Personal Loan LendersLightStream personal loans are a solid choice for both relatively low interest rates and same-day funding. This lender topped our list of the best personal loans, and quick funding is yet another bonus. This lender also made Business Insider's list of best personal loans. Here is each company's score:Lender BBB Grade LightStream Personal Loan A Upstart Personal Loan A+ Avant Personal Loan A+ Best Egg Personal Loan A+ LendingPoint Personal Loan A+ Rocket Loans Personal Loan A+ OppLoans Personal Loan A+All of our top picks for quick personal loans are rated A or higher by the BBB. Find her on Twitter at @lizknueven Read more Read less Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.

Persons: doesn't, LendingPoint, aren't, You'll, Markia Brown, Ryan Wangman, Liz Knueven, Liz, Read, Elias Shaya, Elias Organizations: LightStream, Avant, West Virginia, Better Business Bureau, BBB, Credit, National Credit Union Administration, Chevron, The Savannah College of Art, Twitter, Finance, Northwestern University, Boston Globe Locations: Nevada, West, Iowa , Nevada, West Virginia, Massachusetts, Ohio, New Mexico, Georgia, Chevron, Cincinnati , Ohio, New York City

Experts believe mortgage rates will hold steady for the rest of the year in the low 6% range. After spending the first half of the year at record highs, mortgage rates have finally been trending down for several months now. According to Freddie Mac, 30-year mortgage rates are now just above 6%. But Fed officials have indicated that we may only get 50 basis points worth of cuts by December. What would need to happen for mortgage rates to drop further?

Persons: —, Freddie Mac, Danielle Hale, Realtor.com, Hale, Scott Haymore, Haymore, Will, Dan Burnett, Phil Crescenzo, We're, that's, Crescenzo, there's, refinance Organizations: Service, Federal, Traders, TD Bank, Hometap, Nation One Mortgage Corporation

☆ 5 energy stocks that will get a boost from ballooning electric demand
▼ + stars: | 2024-10-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

US electric demand is rising, fueled by everything from data centers to electrified transportation, says BofA. AdvertisementWith resources flooding into infrastructure and tech, US electric demand is charging up. Sempra will rise 13% based on the bank's $94 share target. Northwestern Energy could similarly jump over 13% to reach a $65 price target, Bofa says. TXNM Energy is set to increase 10% from current levels, reaching a price target of $48 per share.

Persons: —, Entergy, Goldman Sachs Organizations: Service, Bank of America, Northwestern Energy, Pinnacle, TXNM Locations: Texas, Montana

☆ Fixing Social Security funding woes requires addressing immigration 'fraud,' Vance said. Here's what experts say
▼ + stars: | 2024-10-01 | by ( Lorie Konish | ) www.cnbc.com time to read: +12 min

Trump in March said on social media platform Truth Social that Democrats are "killing Social Security and Medicare by allowing the invasion of the migrants." The earnings suspense file is an electronic holding file for wage items where names and Social Security numbers on Form W-2s do not match the Social Security Administration's records, an agency spokesperson said via email. "Immigration, in general, has a very positive role," said Sam Gutterman, chairperson of the American Academy of Actuaries' Social Security committee. The Social Security Administration in an email explained that there are strict rules about who can legally receive benefits and Social Security numbers. "The Social Security Act does not permit payment of benefits to noncitizens residing in the U.S. if they're not lawfully present here," a Social Security spokesperson said.

Persons: Sen, JD Vance, Alex Wong, Donald Trump, Kamala Harris —, Vance, Harris, Tara Watson, Watson, Andrew Biggs, General, Jeffrey Brown, Brown, I've, " Biggs, Sam Gutterman, Renata Miller, they're, actuary, Stephen Goss, Goss Organizations: Radford University, Getty, Social Security, Medicare, Republican, Trump, CNBC, of Homeland, Brookings Institution, Immigration, Immigrants, American Academy of Actuaries, Taxation, Social, someone's Social, American Enterprise Institute, Social Security Administration, Social Security Administration Office, Finance, American Academy of Actuaries ' Social Security, Department of Health, Human Services, HHS, Department of Homeland, SSA Locations: Radford , Virginia, U.S, misdirection

☆ Investors hope October paves way for records as cryptocurrency enters historically strong month
▼ + stars: | 2024-10-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

A September surprise has given bitcoin a head start on a potential run to record highs in the fourth quarter. The cryptocurrency posted a 7.7% gain for September — historically its weakest month of the year — and its best month since May. The month has become known to native crypto investors as "Uptober." … As crypto becomes increasingly correlated with traditional markets, it's expected to be another strong month." Investors expect bitcoin's price will be driven by rate cuts, more inflows into bitcoin ETFs by institutions and clarity following the election.

Persons: Ether, Bitcoin, Jerome Powell, James Davies, " Davies, David Duong, Duong, we've, bitcoin, it's, — CNBC's Michael Bloom, Nick Wells Organizations: U.S, International Longshoremen's Association, Gulf Coasts, bitcoin Locations: U.S, China

Best Personal Loans With No Origination Fees of 2024We've rounded up the best no origination fee personal loans for people in a range of financial situations, with an emphasis on finding those that offer low APRs. Compare Personal Loan RatesTop Personal Loans with No Origination Fee ComparisonNot all personal loans have origination fees — and choosing a loan with no origination fee will save you money. Here is each lender's score:Lender BBB Grade LightStream Personal Loan A SoFi Personal Loan A+ Wells Fargo Personal Loan F PenFed Personal Loan A+ USAA Personal Loan A+All of our top picks, except Wells Fargo, are rated A or higher by the BBB. Best Personal Loans with No Origination Fee FAQsWhy is there an origination fee for personal loans? See our full ratings methodology for personal loans »Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.

Persons: what's, Wells Fargo, Wells, PenFed, you've, You'll, They're, Markia Brown, Sean August, Ryan Wangman, Brown, Read, Elias Shaya, Elias Organizations: Credit, PenFed Credit Union, you'll, PenFed, Credit Unions Credit, Better Business Bureau, Wells, BBB, Consumer Financial, Bureau, Chevron, Better, Wealth Management, Business, Finance, Northwestern University, Boston Globe Locations: Wells Fargo, New York City

☆ A Russian company is bartering chickpeas for Pakistani rice as sanctions stop payments
▼ + stars: | 2024-10-01 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

A Russian company will reportedly barter chickpeas and lentils for Pakistani tangerines and rice. One Russian company is planning to barter chickpeas and lentils for Pakistani tangerines, rice and potatoes, according to a Tuesday report from Russian state-run news service Tass. AdvertisementThe company will also trade 15,000 tons of chickpeas and 10,000 tons of lentils for 10,000 tons of potatoes and 15,000 tons of tangerines from the Pakistani company. AdvertisementRussia also passed a bill in July that will allow trade payments in crypto. Even Chinese banks, the smaller of which were a key processor for Russian payments, have stopped offering support in recent months.

Persons: —, Russia's, Bloomberg Organizations: Service, Tass, Femtee Trading Company, Financial Times, Bank of Locations: Russian, Russia, China, Ukraine, India, Afghanistan, Iran, Bank of Russia

☆ Morgan Stanley believes shares of this airline are cheap and due for 50% comeback
▼ + stars: | 2024-10-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

It's only up from here for Latam Airlines Group , according to Morgan Stanley. Shares of Latam Airlines relisted on the New York Stock Exchange in July, after the company filed for bankruptcy in 2020. LTM YTD mountain LTM YTD chart However, Spiess believes that Latam Airlines' valuation still offers a steep discount, which the analyst said was "unwarranted." Meanwhile, the analyst noted that Latam Airlines offers "unparalleled connectivity" as the largest full service carrier in South America, which is still somewhat under-penetrated. These routes, where Latam Airlines has a market monopoly, are likely among the company's most profitable.

Persons: It's, Morgan Stanley, Jens Spiess, Spiess, LTM Organizations: Latam Airlines Group, Latam, New York Stock Exchange, Latam Airlines Locations: U.S, South America

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