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The death of natural diamonds: Shares of De Beers owner fall 20% after mine production is cut as eco-conscious customers instead opt for lab-grown gems loved by celebs like Taylor Swift

According to Marilyn Monroe in the classic 1953 film “Gentlemen Prefer Blondes,” diamonds were once a girl’s best friend. But these days, eco-conscious shoppers seem to prefer lab-grown gemstones over mined rock, and celebrities like Taylor Swift, Reese Witherspoon and Emma Watson are showcasing lab-made accessories. According to The Times, the boom in lab-grown rocks … [Read more…]

10-year Treasury yield continues to fall after Fed's 'great turnaround'

The 10-year Treasury yield fell further on Monday as the last full trading week of 2023 begins. Traders continue to digest the Federal Reserve’s unexpectedly dovish tone last week. The central bank kept its key interest rate stable and said policymakers planned at least three rate cuts next year – a more aggressive series of … [Read more…]

The big boss leaves without notice: Gildan's shares fall on the stock market

Shares of Quebec multinational Gildan fell more than 10% on Monday following the impromptu departure of the company’s CEO Glenn Chamandy. “Yesterday I received notice from the CEO of Gildan Sportswear that the company was terminating my employment contract without cause. It is unfortunate that my vision for the future differs from that of other … [Read more…]

China's consumer prices fall fastest in three years, factory gate deflation worsens

[1/4]People walk along the Nanjing Pedestrian Street, a main shopping district, ahead of the National Day in Shanghai, China, September 26, 2023. Portal/Aly Song/File Photo Acquire License Rights Consumer Price Index (November) -0.5% year-on-year versus -0.2% in October Consumer Price Index November -0.5% month-on-month versus -0.1% in October November PPI -3.0% YoY versus -2.6% in … [Read more…]

Asian markets fall as investors assess trade data from China and Australia; Oil recovers slightly –

40 minutes ago Blackpink’s contract extension relieves pressure on YG’s stock price: analyst Following news that K-pop girl group Blackpink has renewed its contracts with agency YG Entertainment, Minha Choi, senior analyst at Samsung Securities, said a “significant drag” on the label’s share price has been removed. On Wednesday, shares of YG rose 25% following … [Read more…]

Demand for mortgage refinances jumps 14% as interest rates fall to lowest since August –

Houses in Hercules, California, USA. Bloomberg | Bloomberg | Getty Images After rising over 8% in October, mortgage rates are falling back to 7%, giving the refinancing market a boost. Last week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) fell from 7.37% to 7.17%, with points … [Read more…]

Asian markets slide as CSI 300 hits fresh four-year low; Hong Kong stocks fall to more than one-year low –

4 hours ago Activity in India’s services sector grew slower than expected in November S&P Global said activity in India’s services sector grew slower than expected in November. The country’s services purchasing managers’ index came in at 56.9, down from 58.4 in October and also lower than the 58.0 expected in a Portal forecast. A … [Read more…]

Treasuries Fall as Gold Prices Rise, Stocks Mixed: Markets Wrap

(Bloomberg) — Treasury bonds slipped and gold fell from session highs on Monday as markets pared back some of Friday’s moves that defied Federal Reserve Chairman Jerome Powell’s reminder that policymakers are in no hurry to raise interest rates reduce. Most read by Bloomberg Treasury yields rose across all maturities, with the benchmark 10-year Treasury … [Read more…]

Stock futures fall slightly on Monday as Wall Street snaps four-week winning streak

An hour ago European stocks start the week slightly in the red European markets fell at the start of the new trading week, although sector moves remained subdued. Oil and gas stocks fell 0.8% while retail rose 0.3%. The Stoxx 600 index was 0.1% lower at 9:05 a.m. London time. The pan-European benchmark rose steadily … [Read more…]

Asian stocks fall on China, dollar lags

Photographers take photos near a large screen showing stock prices on the Tokyo Stock Exchange (TSE) after the market opened on October 2, 2020 in Tokyo, Japan. Portal/Kim Kyung-Hoon/File Photo Acquire License Rights SYDNEY, Nov 24 (Portal) – Asian stocks were dragged lower by China on Friday as Wall Street, closed for a holiday, was … [Read more…]