China looks set to dominate in a post-coronavirus world
Coronavirus has hit the global economy hard, while other countries are struggling to avoid recession, China looks set to grow as analysts are expecting GDP expansion at a rapid pace in a post-pandemic world. “We don’t want to leave China,” said Joerg Wuttke, President of the European Chamber of Commerce in China. “That’s why we engage more with China and ask for more.”
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Elon Musk Gains $8 Billion to Become World’s Fourth-Richest Person
Elon Musk’s financial upswing shows no signs of slowing. The rise vaulted the Tesla co-founder past French luxury tycoon Bernard Arnault, the wealthiest non-American on the Bloomberg Billionaires Index. Musk’s fortune has grown by $57.2 billion this year, the second-biggest increase on the index after Amazon.com Inc. founder Jeff Bezos’s.
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Gold prices dropped 6%, the worst single-day decline in seven years
Gold prices fell more than 6% yesterday, the worst one-day decline in seven years as investors’ risk appetite returned, boosting U.S. stocks. Spot gold tumbled as much as 6% to $1,927.30 per ounce, down sharply from Friday’s record intraday high of $2,089.20. On Wednesday morning during Asia hours, spot gold fell further, last trading at $1880.16
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China’s exports jumped 7.2% against an estimated 0.2% fall
Dollar-denominated exports in China jumped 7.2% year-on-year, economists at Reuters predicted a fall of 0.2%. In July, China posted a trade surplus of $62.33 billion, beating the $42 billion economists had expected. China’s trade surplus was $46.42 billion in June. Despite the coronavirus pandemic hitting global demand, exports from China have held up as exports in medical supplies jumped in the first half of the year
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Zuckerberg says there's 'no end in sight' for Facebook employees working from home
Facebook CEO Mark Zuckerberg on Thursday said there is no timetable for when employees will return to the company's offices amid a continuing surge in Covid-19 cases in the U.S. Zuckerberg made his comments on a call with analysts about Facebook's second-quarter results, specifically criticizing the Trump Administration for its handling of the coronavirus.
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