OPEC+ cuts partly due to reshaping of global oil flows, IEA says

By Ahmad Ghaddar LONDON (Reuters) – European Union and G7 restrictions on Russian oil exports led to a global shift in oil flows, with Asian refiners soaking up discounted Russian crude, in part explaining the recent OPEC+ decision to curtail output further, the West’s energy watchdog said on Friday. With the arrival of over three…

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EU parliament graft suspect Kaili released to house arrest

BRUSSELS (Reuters) – Eva Kaili, the former European Parliament vice president accused of accepting bribes in one of the biggest scandals to hit European Union institutions, was released from custody to house arrest on Friday. The 44-year-old Greek Socialist was driven in a black Mercedes with her lawyer from Haren prison in northern Brussels to…

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China reopening spurs record inflows into emerging market funds -BofA

LONDON (Reuters) -Investors poured a record $12.7 billion into emerging-market debt and equity funds in the week to Wednesday, in response to China’s easing of its COVID-19 restrictions on activity, data on Friday from BofA Global Research showed. The sudden shift in Chinese policy has boosted many different asset classes, from commodities and mining stocks…

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Fund manager allocation to U.S. stocks in January collapses – BofA survey

By Samuel Indyk LONDON (Reuters) – Fund managers’ allocation to U.S. equities collapsed in January, with 39% saying they had an underweight position, the most since October 2005, a BofA survey of global investor views on Tuesday showed. Global growth optimism hit a one-year high, while inflation expectations have peaked, according to the global Fund…

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U.S.-China friction stokes concern among some top finance bosses

LONDON (Reuters) – The bosses of global investor Fidelity International and accountancy giant EY have voiced concerns about a fracturing of relations between the U.S. and China, speaking at the World Economic Forum in Davos on Tuesday. Anne Richards, CEO of the $610 billion money manager Fidelity International, put her level of worry about a…

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Investors jump into equities and bonds in Goldilocks scenario – BofA

LONDON (Reuters) -Investors poured money into equity and bond funds and moved money out of gold in the week to Wednesday, according to BofA Global Research, taking heart from a string of positive data points and policy changes. “You don’t get more Goldilocks than that,” the report said of Thursday numbers that showed U.S. consumer…

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