Demographic Focus Lifts Global X Millennials ETF

This article was originally published on ETFTrends.com.

As its name implies, the Global X Millennials Thematic ETF (NasdaqGM: MILN) focuses on investment themes and trends expected to benefit from millennials’ spending habits. That narrow demographic focus is helping, not hurting, the fund, which is up 24% this year. The millennial generation is classified as U.S. citizens born approximately between 1980 and 2000. […]

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Man pleads guilty in scheme to sell phony military clothing

A New York City man has pleaded guilty to his role in a scheme that sold $20 million worth of counterfeit Chinese-made clothing and uniforms to the U.S. military and government in violation of federal law.

The U.S. attorney for Rhode Island announced that 49-year-old Ramin Kohanbash pleaded guilty Thursday to conspiracy to commit wire fraud and trafficking in counterfeit goods.

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Authorities say Kohanbash and others had phony reproductions made in China that were then distributed to suppliers that sold them to the U.S. government as American-made products.

The clothing included phony brand name labels and tags that falsely represented the clothing's abilities.

That included parkas falsely represented to be made of a fabric that made them difficult to detect with night-vision goggles.

Kohanbash faces 15 years at prison at sentencing Jan. 17.

Opt for the Short Game When it Comes to Fixed Income

This article was originally published on ETFTrends.com.

Just like a game of golf, different clubs have different roles when it comes to playing the long game versus the short game. Right now, in today’s fixed income environment, it could benefit investors if they played the short game with short duration fixed income exchange-traded funds (ETFs). During times of heavy volatility like that […]

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Utility will remove coal ash from pits near Tennessee river

The nation's largest public utility has agreed to dig up and remove about 12 million cubic yards (9.2 million cubic meters) of coal ash from unlined pits at a Tennessee coal-burning power plant.

Prompted by two environmental groups, the state sued the Tennessee Valley Authority in 2015 over pollution from coal ash dumps at the Gallatin Fossil Plant. Court documents show pollutants leech from the ash into the groundwater and then enter the Cumberland River, a source of drinking water for Nashville.

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On Thursday, the Tennessee Department of Environment and Conservation and the environmental groups announced a settlement with TVA.

The utility will excavate a majority of coal ash at Gallatin and recycle it or remove it to a lined, permitted landfill. TVA will also develop a plan for the remaining coal ash.

Palladium ETF: Robust Demand Seen For Several Years

This article was originally published on ETFTrends.com.

Although it stumbled early in the second quarter, the Aberdeen Standard Phys PalladiumShrs ETF (NYSEArca: PALL) remains higher by nearly 11% this year after ranking as one of 2018’s best-performing commodities exchange traded funds. Some market observers believe palladium demand will be steady over the next several, potentially underpinning higher prices for PALL. Palladium is […]

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European Economics Preview: Swiss National Bank Rate Decision Due

The interest rate announcement from the Swiss National Bank is due on Thursday, headlining a light day for the European economic news.

At 1.45 am ET, the State Secretariat for Economic Affairs is set to issue quarterly Swiss economic forecasts.

At 2.00 am ET, Destatis releases Germany’s final inflation data. Consumer price inflation is seen at 1.4 percent in May, unchanged from flash estimate.

At 2.30 am ET, Swiss producer and import price data is due. Producer and import prices are forecast to drop 0.7 percent on year in May, following a 0.6 percent fall in April.

At 3.30 am ET, monetary policy assessment of Swiss National Bank is due. The bank is expected to hold its interest on sight deposits at -0.75 percent and the target range for the three-month Libor between -1.25 percent and -0.25 percent.

At 5.00 am ET, Eurostat publishes industrial production data for April. Eurozone output is expected to drop 0.5 percent on month in April after falling 0.3 percent in March.

In the meantime, Greece first quarter unemployment data is due. The jobless rate was 18.1 percent in the fourth quarter.

BPCL ropes in STFC to fund truckers for diesel

Scheme to aid small transporters

State-owned Bharat Petroleum Corporation Limited (BPCL) has roped in Shriram Transport Finance Company (STFC) to fund truckers for diesel purchase under its “Fuel now, pay later” scheme.

Confirming the development, P. S. Ravi, ED, retail, BPCL, said, “Small transporters, due to their lesser financial capabilities, were in look out for high quality fuelling, associated services and financial solutions to build their business and growth. In arrangement with Shriram Transport, they will get money and there is no need to carry cash. This partnership addresses the need for fuelling. BPCL has the highest market share in the top 20 national highways.”

This scheme is aimed at targeting small truck owners with less than 10 trucks, constituting about 75% of the diesel sales.

Umesh Revankar, MD & CEO, SFTC, said, “After you buy a vehicle, you need to spend on tyres and fuel. We already have tyre financing and now we will also finance fuel purchases of truckers.”

The customers will be able to avail the benefit of this tie-up across 15,000 BPCL retail outlets across the country.

Santosh Kumar, ED, retail-west, BPCL said, “About 40% cost of transport business is the diesel. We will prove working capital solution through this tie up with Shriram Finance.”