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Test Post from Rajalacur

Test Post from Rajalacur
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Shares of German finance firm seller accuses it of fraud

Grenke, a German financial services provider, is under investigation after a report by a short-selling investor research company alleged it of market manipulation, money laundering and fraud.

The 64-page report, which Grenke strongly rejects, was published by Fraser Perring of Viceroy Research. Shares of Grenke, which is listed on the Frankfurt Stock Exchange, were down 29% at one point on Tuesday and saw heavy falls again on Wednesday.Grenke argues that one of the main accusations in the report is false.

“A central accusation is that a substantial portion of the 1,078 million euros in cash and cash equivalents reported in the 2020 half-year financial report does not exist,” Grenke said in a statement. “This is demonstrably false.”

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Stock futures are flat after Fed signals

U.S. stock futures were flat on Wednesday night as traders digested the Federal Reserve’s pledge to keep rates low over the next few years.Dow Jones Industrial Average traded 6 points lower, or 0.02%. S&P 500 and Nasdaq 100 futures were also marginally lower.

Members of the Federal Open Market Committee indicated the U.S. overnight rate could stay anchored to the zero-bound through 2023 as the central bank tries to spur inflation. In a statement, the committee said: “With inflation running persistently below this longer run goal, the Committee will aim to achieve inflation moderately above 2% for some time so that inflation averages 2% over time.”

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World’s Most Stable Currency Is Shielding Taiwan’s Vital Exports

As countries around the world struggle to shelter their economies from the effects of the coronavirus pandemic, Taiwan is seeing the opposite.

Its economy is projected to grow 1% this year, according to a Bloomberg survey of economist estimates, second only to China’s 2% among major economies. Taiwan has benefited from companies shifting some of their manufacturing back home from China amid growing tensions between Beijing and Washington, as well as increased demand for its products from the U.S.

While such good news would normally increase the allure of the local currency — and thereby reduce the attractiveness of Taiwan’s exports overseas — the central bank has taken aggressive action to limit gains. The result is the currency has been the least volatile among 31 major exchange rates against the greenback in the past three months, after the pegged Hong Kong dollar.