Midday Dispatch – Corporate and Financial News

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The euro dropped to a three-week low against a broadly stronger dollar on Tuesday as investors re-assessed their expectations of how much the Federal Reserve may cut interest rates this month. Reuters 

Gold prices are set to “reach $2,000 by the end of the year,” predicts David Roche, president and global strategist at London-based Independent Strategy. CNBC

In India, Narendra Modi’s budget leaves big questions unanswered as analysts question how government will cut deficit or achieve ambitious growth targets. Financial Times 

Virgin Galactic, Sir Richard Branson’s space tourism venture, is preparing to go public. The Guardian

Oil slipped to around $64 a barrel on Tuesday after fresh signs the U.S.-China trade dispute is dragging on the global economy and oil demand, outweighing OPEC supply cuts and Middle East tensions. – Reuters 

German chemicals group BASF on Monday cut its full-year forecast and warned profits would nearly halve in the second quarter, pinning the blame on a slowdown in the global economy and industrial production driven by trade conflicts. – Financial Times

South Korea on Tuesday denied accusations in Japanese media that it had transported Japanese high-tech material to North Korea, calling for an immediate halt to such comments. Reuters

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