global

Fund that called the last two crashes starts to short global stock markets

The apostles of “value investing” have called the top of the Covid-19 equity rally. 

The closely watched GMO fund has been liquidating its holdings on US and European stock markets and buying hedges at a breakneck pace over recent days, warning clients that the explosive surge in prices since late March has decoupled from fundamentals and is becoming treacherous. “The huge reversal does not make any sense,” it said.

The group’s main fund has turned outright short, taking large negative positions on equity indexes through futures contracts. “It is going to be very difficult to come out of this pandemic

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Global oil market still reeling from price war and virus downturn

But ultimately, Russia’s risky geopolitical gambits, Saudi Arabia’s attempts to flood the market with oil, and the machinations of Opec, faded as the black hole of coronavirus steadily continued to expand, swallowing everything.

As March dragged on and more countries went in to complete lockdown to curb the spread of the virus, the destruction of demand became so severe that the price war became untenable.

Rapprochement

Just over a month after the price war began, it was over again.

On April 9, the world’s leading oil nations agreed once again to slash their output in a desperate effort to save

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China’s Hong Kong law a ‘flagrant breach,’ global leaders say

WASHINGTON (Reuters) — Nearly 200 political figures from around the world on Saturday decried Beijing’s proposed national security laws for Hong Kong, including 17 U.S. Congress members, as international tensions grow over the proposal to set up Chinese government intelligence bases in the territory.

In a joint statement organized by former Hong Kong Governor Christopher Patten and former British Foreign Secretary Malcolm Rifkind, 186 law and policy leaders said the proposed laws are a “comprehensive assault on the city’s autonomy, rule of law and fundamental freedoms” and a “flagrant breach” of the Sino-British Joint Declaration that returned Hong Kong to

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Privacy in a pandemic? Contact-tracing apps gain global popularity

TOKYO — Governments are trying to strike a delicate balance between public safety and privacy in an attempt to convince citizens to embrace contract-tracing apps, which have gained popularity as a tool for stopping the spread of the novel coronavirus.

More than 60 countries and regions have introduced the apps in their fight against the pandemic, although the penetration rate — or percentage of the population using the tech — remains below 50% in many places, leaving their effectiveness in question.

“Governments should strive to increase transparency, such as through communicating how the data will be used,” said Ichiro Satoh,

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