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(Bloomberg) — The Federal Reserve and other major central banks will have to take action if inflation expectations rise further as a surge in global bond yields risks triggering broader financial market turmoil, says Pacific Investment Management Co.’s chief investment officer. Read More
(Bloomberg) — Turkey offloaded almost all of its US Treasuries in March as it stepped up efforts to defend the lira amid intense economic pressure from soaring energy costs. Read More
(Bloomberg) — Federal Reserve Bank of Richmond President Tom Barkin said the ability of businesses and consumers to tolerate the latest in a series of supply shocks will determine whether the US central bank can continue to “look through” higher inflation without raising interest rates. Read More
(Bloomberg) — The Trump administration’s hard line against Cuba pushed Sherritt International Corp. to the brink. Now, an ex-adviser to the US president may be the Canadian mining company’s salvation.The nearly 99-year-old company, whose former chief executive was once known as Fidel Castro’s favorite capitalist, has staked its business on a bet few Western companies would touch. After entering Cuba in the 1990s, Sherritt developed a nickel-and-cobalt mine through a joint venture with the state before expanding into energy. The result was a sprawling business that’s survived commodity busts, US political pressure and economic instability on the island. Read More
OLDWICK, N.J. — AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa-” (Superior) of Intact Insurance Company, the lead company of Intact Financial Corporation (IFC) [TSX: IFC], as well as the core insurance subsidiaries of IFC. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of IFC, the parent holding company. In addition, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of Intact U.S. Holdings Inc. (Intact US) (Delaware), an intermediate holding company of IFC. The outlook of these Credit Ratings (ratings) is stable. All companies are domiciled in Ontario, Canada, unless otherwise specified. (Please see below for a complete listing of the FSRs, Long-Term ICRs and Long-Term IRs for the core members of IFC.) Read More
(Bloomberg) — European stock markets could rise another 5% by the end of the year, driven by “an explosion of earnings,” said Beata Manthey, head of European equity strategy at Citigroup Global Markets Ltd. Read More
The project titled “Unlocking immunotherapy for IDH-mutant gliomas by mapping and reprogramming the tumour immune microenvironment” will expand our understanding of how the tumour microenvironment keeps a patient’s immune system away from growing cancer cells and will use that new knowledge to test ways we might reopen the door for immune-based therapies. Read More
