Australia investigator in Citi cartel case learned of concerns from rival agency By Reuters

By Byron Kaye SYDNEY (Reuters) – An Australian investigator who helped bring criminal cartel charges against Citigroup Inc (N:) and Deutsche Bank AG (DE:) said he first heard concerns about a stock issue they worked on from a rival regulator, but the agencies acted independently. The disclosure on Tuesday in a pre-trial court hearing relates to a central part of the defense against the country’s biggest white collar criminal case: the investment banks want to show the evidence used to charge them was tainted by outside influences and departure from…

‘Like Europe in Medieval Times’: Virus Slows China’s Economy

Workers are stuck in their hometowns. Officials want detailed health plans before factories or offices can reopen. Assembly lines that make General Motors cars and Apple iPhones are standing silent. More than two weeks after China locked down a major city to stop a dangerous viral outbreak, one of the world’s largest economies remains largely idle. Much of the country was supposed to have reopened by now, but its empty streets, quiet factories and legions of inactive workers suggest that weeks or months could pass before this vital motor of…

Coronavirus to hit Canadian economy, affect oil prices, tourism, warns Finance Minister Bill Morneau

The spreading coronavirus outbreak will hit the Canadian economy, in particular oil prices, the tourism sector and supply chains, Finance Minister Bill Morneau said on Monday. Morneau told a business audience in Calgary that prices for crude – one of Canada’s major exports – had dipped by 15 per cent since the outbreak started in the Chinese city of Wuhan. The death toll from the epidemic rose to 908, all but two in mainland China, on Sunday as 97 more fatalities were recorded. The virus has spread to at least…

Build Something Great With a Homebuilders ETF in 2020

Build Something Great With a Homebuilders ETF in 2020

The  SPDR S&P Homebuilders ETF (XHB A+) took some lumps last week, but homebuilders assets could still be worth considering as this year unfolds. XHB seeks to provide investment results that correspond generally to the total return performance of an index derived from the homebuilding segment of a U.S. total market composite index, and in order to track the performance of the S&P Homebuilders Select Industry Index, the fund employs a sampling strategy. Lower mortgage rates could continue to give the housing market a much-needed boost, which could translate to…

Best Water ETFs for Q1 2020

Water is one of the planet’s most coveted and widely used resources. Like other commodities, such as oil and gold, water assets can add significant diversification to any portfolio. One of the best ways to gain exposure to the water industry is through a water exchange-traded-fund (ETF). Such ETFs invest in companies involved in the treatment and purification of water, as well as its distribution. Some notable names in the industry include German-based BASF SE, 3M Co. (MMM), and ITT Inc. (ITT). As an essential commodity, water ETFs are often…