BERLIN (Reuters) – The latest economic data provide hope that Germany’s economy can return to pre-crisis levels in early 2022, Finance Minister Olaf Scholz said on Tuesday.



a group of police officers riding on the back of a car: FILE PHOTO: VW re-starts Europe's largest car factory after coronavirus shutdown


© Reuters/POOL New
FILE PHOTO: VW re-starts Europe’s largest car factory after coronavirus shutdown

Germany’s rising level of government debt is not a problem because the country can tackle the situation with “good growth”, Scholz told TV station CNBC in an interview.

Scholz rejected concerns that state aid was artificially keeping alive companies that were in financial troubles in the wake of the crisis caused by the coronavirus pandemic.



Olaf Scholz wearing a suit and tie smiling and looking at the camera: German Finance Minister Scholz and Justice Minister Lambrecht hold news conference in Berlin


© Reuters/HANNIBAL HANSCHKE
German Finance Minister Scholz and Justice Minister Lambrecht hold news conference in Berlin

Germany’s government has taken steps such as allowing firms to delay bankruptcy filings until the end of the year, extended from an original deadline of end-September.

Helped by these measures, the number of firms declaring insolvency in Germany fell 6% in the first half of 2020 compared with the year-earlier period.

Critics say suspending insolvencies delays but does not prevent the collapse of “zombie companies” that are artificially kept afloat.

Firms are making necessary decisions and adjustments despite the crisis, Scholz said. For instance, many companies are cutting staff at the moment instead of making use of state aid that would allow them to cut workers’ hours, he said.

“The debate about zombie companies is nonsense,” Scholz said.

(Reporting by Christian Kraemer, writing by Kirsti Knolle, editing by Maria Sheahan)

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By Sonali Paul

MELBOURNE (Reuters) – Oil prices were steady in early trade on Tuesday, sitting on losses of nearly 3% from the previous session after supplies began to resume in Norway and the U.S. Gulf of Mexico and Libya resumed production at its largest oilfield.

The return of supply comes as resurgent COVID-19 infections in the U.S. Midwest and Europe raise worries about fuel demand growth, posing a challenge for the Organization of Petroleum Exporting Countries and its allies, together called OPEC+.

OPEC+ has curbed supply to help shore up oil prices amid coronavirus pandemic, with cuts of 7.7 million barrels per day due to hold through December. The producers’ market monitoring panel is due to meet next Monday.

“It won’t be a huge surprise if finally the alliance decides to address the worsening situation and amend its action,” Rystad Energy’s head of oil markets, Bjornar Tonhaugen, said in a note.

U.S. West Texas Intermediate (WTI) crude <CLc1> futures inched up 1 cent to $39.44 a barrel at 0117 GMT, while Brent crude <LCOc1> futures rose 2 cents to $41.74 a barrel.

With workers returning to U.S. Gulf of Mexico platforms after Hurricane Delta and Norwegian workers returning to rigs after ending a strike, all eyes were on Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), which on Sunday lifted force majeure at the Sharara oilfield.

The country’s total output on Monday was at 355,000 bpd and will double if the Sharara field gets back to pumping at the 300,000 bpd it was producing before the Libyan National Army blockaded energy exports in January.

“That would effectively add 0.3% of global oil supply in a very short time frame,” Commonwealth Bank commodities analyst Vivek Dhar said in a note.

Stoking worries about fuel demand, curbs

M.D.C. Holdings (MDC) is a buy for the total return and dividend income investor. M.D.C. Holdings is among the largest homebuilders in the United States and has an increasing owned backlog of over 17,000 lots to develop and options on another 7,000.

The company has steady growth and has the cash it uses to develop new properties and homes for the average home buyer. The lower interest rates give a tailwind to the company business. The Fed has indicated that they intend to keep interest rates low for at least a year or maybe two.

As I have said before in previous articles.

I use a set of guidelines that I codified over the last few years to review the companies in The Good Business Portfolio (my portfolio) and other companies that I am reviewing. For a complete set of guidelines, please see my article “The Good Business Portfolio: Update to Guidelines, March 2020”. These guidelines provide me with a balanced portfolio of income, defensive, total return, and growing companies that hopefully keeps me ahead of the Dow average.

When I scanned the five-year chart, M.D.C Holdings has a good chart going up and to the right for 2016, 2017, and 2019 in a strong solid pattern. It is a cyclic company and was down in 2015 and has recovered well in 2019 from the flat year of 2018. 2020 was doing good until the pandemic hit, then it went down like a rock in water but has recovered nicely in the past six months. The PE is low at 11, and the earnings growth looks good at 10%, making MDC a strong buy.

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Fundamentals and company business review

The method I use to compare companies is to look at the total return, as shown from my

TOKYO/NEW YORK (Reuters) – Asian shares inched close to 2-1/2-year highs on Friday as revived hopes for a U.S. stimulus deal eclipsed weaker-than-expected jobs data, while mainland Chinese markets jumped after a week-long holiday.

Traders work on the trading floor of the Philippine Stock Exchange amid the coronavirus disease (COVID-19) outbreak, in Taguig City, Metro Manila, Philippines, September 30, 2020. REUTERS/Eloisa Lopez/Files

Investors are also increasingly expecting the Democrats to take back the White House, and possibly the Senate as well, in the Nov. 3 U.S. election, analysts said.

A widening lead for Democratic Presidential candidate Joe Biden is seen as reducing the risk of a contested election and opening the way for a big economic stimulus, helping to counter investors’ wariness about a Democrat pledge to hike corporate tax rates.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.15%, inching closer to its Aug. 31 peak, which was its highest level since March 2018. China’s CSI300 index .CSI300 gained 1.68% after the Golden Week holidays.

Japan’s Nikkei .N225 dipped 0.1% after hitting a 7 1/2-month high, while futures for the S&P 500 gained 0.47%.

“Markets are starting to assume a Biden victory,” said Osamu Takashima, chief FX strategist at Citigroup Global Markets Japan.

U.S. President Donald Trump on Thursday said talks with Congress had restarted on targeted fiscal relief, after calling off negotiations earlier this week.

House of Representatives Speaker Nancy Pelosi expressed confidence about reaching an agreement on the amount of aid in new legislation.

On Wall Street, the S&P 500 .SPX gained 0.80% and the Nasdaq Composite .IXIC added 0.5%.

The S&P 500 energy index .SPNY led sector percentage gains, rising 3.8% on the day, after a jump in oil prices due to production shutdowns ahead of a storm in

(Bloomberg) — China’s yuan strengthened and stocks rose on mainland exchanges in a positive start to the month for traders returning to work after an eight-day holiday.

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The currency advanced 1.1% as of 9:53 a.m. in Shanghai, tracking recent moves in the offshore rate. The People’s Bank of China set its yuan fixing at 6.7796 per dollar on Friday — or slightly stronger than expected — suggesting it will continue to allow for currency gains after the yuan had its best quarter since 2008 versus the greenback.

“Markets will take any indication that the authorities are not too concerned about the level of the yuan as a positive sign,” said Khoon Goh, head of research at Australia & New Zealand Banking Group Ltd. “In effect, not sending a signal is in itself a signal.”

The Shanghai Composite Index of stocks rose 1.4% and the CSI 300 Index climbed 1.7%. China’s $9.4 trillion onshore equity market last traded on Sept. 30.



chart: China's yuan strengthens toward 6.7 per dollar


© Bloomberg
China’s yuan strengthens toward 6.7 per dollar

Solar and technology stocks were among the biggest gainers in early trade. Longi Green Technology Co. surged 9.3% to hit a record high. Lens Technology Co. rose 7.4% and GoerTek Inc. added 6.3%.

“Stocks are getting a boost from the better-than-expected consumption data during the Golden Week holidays and a strong yuan,” said Daniel So, strategist at CMB International Securities Ltd. “Investors are looking forward to the Communist Party meeting toward month-end, before which market sentiment has usually been positive, as more stimulus policies are expected.”

China is unique among major economies to close its financial markets for long periods several times a year. In February, stocks were hit by a ferocious wave of selling and the yuan weakened past a key level against the dollar, as a rapidly