The state-owned oil and gas company China National Offshore Oil Corporation, which ranks first in China in terms of production volumes, has published reports for the past 2021. According to published data, its net profit of 70.32 billion yuan has approximately tripled in twelve months. At the same time, economists expected its even higher growth […]
Trading on Wednesday showed an increase in gas prices in Europe. Bidding started at $1,250 per 1,000 m3. The price then dropped to $1,243. Then there was an increase of more than 14% and amounted to 1411 dollars 70 cents. Since the military operation by the Russian troops on the territory of Ukraine, there has […]
The GfK company conducted a sentiment survey among german consumers. Its results showed a decline in consumer confidence in the economy in April. The corresponding index fell by 7 points and amounted to minus 15.5 points. Analysts predicted a decline in this indicator by 5.5 points to minus 14 points. Other indices also showed negative […]
Dutch beer producer Heineken announced its decision to leave the Russian Federation. The world’s second-largest brewer has supported anti-Russian sanctions imposed by many countries in solidarity with Ukraine, which is at war with Russian troops that have invaded its land. The company announced that it is currently transferring its Russian business to a local owner. […]
The ICU financial group calculated that in the first month of the war in Ukraine, the country received financial assistance from Western partners amounted to $3.221 billion. It is reported that this figure does not include funding provided for the acquisition of weapons necessary for the Ukrainian army. The specified amount of financial assistance consists […]
Business confidence in the German economy has plummeted this month, according to a study by the Ifo Institute. This was indicated by the corresponding index, amounting to 90.8 points this month against the February value of 98.5 points. The fall in the index was stronger than the decline expected by economists to 94.2 points. Survey […]
According to an analysis by the Federal Reserve Bank of Atlanta, in the US, women’s wages have outpaced men’s for the past six consecutive months. Their size for women increased in February by 4.4% in annual terms. At the same time, wages for men increased by 4.1% over the year. The biggest 0.5% gap for […]
A study by the American media holding S&P Global and the British institute CIPS showed that the manufacturing sector in the UK saw a weakening of business activity in March. This was indicated by a specially calculated PMI index, which amounted to 55.5 points. In the previous month, its value was fixed at 58 points. […]
One of the largest Russian mobile operators, Megafon, reported a 6.6% increase in annual revenue. It amounted to 354.2 billion rubles. The company’s net profit increased 2.5 times to 66.3 billion rubles. Megafon also announced the results of the 4th quarter. The amount of net profit jumped 7.4 times to 32.3 billion rubles. Quarterly revenue […]
Chinese telecommunications company China Mobile ended last year with a net profit of 116.15 billion yuan, up 7.7% from a year earlier. At the end of the year, operating income reached 848.26 billion yuan. Its volume increased by 10%. Last year, 957 million people used the mobile communications of the world’s largest operator. For twelve […]
The Chinese company Evergrande has made a statement about the suspension of trading in its shares and other securities on the stock exchange in Hong Kong. However, the company did not give a reason for the decision. In 2022, this is the second suspension of trading in the developer’s securities. This week, the company is […]
The march meeting of the Central Bank of the RF ended with a decision to keep the rate at the current level of 20%. The Russian regulator noted that a significant february rate increase contributed to a slowdown in consumer price growth. The forthcoming restructuring of the Russian economy will be accompanied by an increase […]
In December of this year, the contract for the purchase of Russian gas by Poland through the Yamal gas pipeline will be completed. This month will be the last for gas imports from the Russian Federation, which occupied a significant share in Poland’s imports. Polish state oil and gas company PGNiG has the ability to […]
The results of the regular FOMC meeting did not come as a surprise to the markets. As expected, the decision was made to raise the rate by 25 bp. Now it is in the range from 0.25% to 0.5%. Only James Bullard voted against this decision. He spoke in favor of raising the rate by […]
The Zew Institute reported a sharp drop in investor and analyst confidence in the German economy in March. This was indicated by the index calculated by its experts, which amounted to minus 39.3 points against 54.3 points in February. Its collapse was a record since the end of 1991. The index this month was much […]
The Daily Telegraph writes that Britain’s refusal to buy Russian wood pellets will cause a catastrophic worsening of the country’s energy crisis. This sanctions decision by the British authorities will lead to a significant increase in the cost of heating for residents. Over the past few years, most Britons have opted to switch to heating […]
The United States Treasury reported on the execution of the state budget in February. Its deficit fell to $216.6 billion, down 30% from a year ago, according to published data. Tax revenues to the budget increased by 16.9% in annual terms. Total revenue rose in February to $289.9 billion, or 16.7%. US government spending fell […]
The Russian company Alrosa, engaged in the exploration, production and sale of diamonds, has announced the suspension of the publication of monthly reports on sales of rough and polished diamonds. The changed conditions explain the temporary cessation of informing about the results of their monthly activities against the backdrop of exacerbation of geopolitical risks. This […]
A bipartisan decision in the US Congress has decided to increase aid to Ukraine and its allies in Europe to $13.6 billion. The amount of aid has been increased from the $10 billion requested by US President Joe Biden. According to the Associated Press, $4 billion of the total amount of assistance allocated will support […]
Most experts interviewed by Izvestia believe that the refusal of oil and gas in Europe is mainly due to the atmosphere leading up to the collapse of the European Union. Gas prices are already approaching $4,000 per 1,000 m3. But even a stable price of $3,500 could stop that part of the European industry that […]
The head of the US Central Bank, Jerome Powell, said that inflation is expected to rise in the country in the near future. This will be facilitated by the rise in prices for commodities and, above all, for energy carriers. Jerome Powell admitted that the Fed should have recognized the existence of such a problem […]
According to the updated forecast of the US Department of Energy, by 2050, the maximum price level for Brent will be $170, and not $173 per barrel, as its previous forecast had provided. In the agency’s baseline scenario, the price of Brent is expected at $90 against $95 per barrel previously expected. The low mark […]
The Ukrainian Statistical Office informed about the dynamics of industrial production in Ukraine in January. According to this data, at the end of the first month of this year, industrial production in the country increased by 2.9% compared to the same month of the previous year. At the same time, the volume of industrial production, […]
The data of the stock exchange in London testify to a sharp jump in the price of gas. It set a new all-time high, rising above the $2,200 mark. At 11:58 Moscow time, 1,000 cubic meters of gas was trading at $2,226. For comparison: yesterday the settlement price was 1396 dollars 50 cents. Thus, the […]
The European Union is developing a plan to deal with possible disruptions in gas supplies from Russia amid its full-scale invasion of Ukraine. The representative of the European Commission, Kadri Simson, said that the recent increase in gas supplies to the EU and encouraging forecasts from meteorologists give reason to believe that the EU will […]
The Central Bank of New Zealand representative said that the country has very little trade and economic ties with Russia and Ukraine. For this reason, the bank does not expect any severe consequences for the New Zealand economy due to the crisis between these countries. He noted that currently, the main problem is high inflation. […]
Lenovo released its quarterly report. It shows that the computer equipment manufacturer completed the fiscal quarter with good performance. Quarterly net income reached $640 million, up 60% from the same 3-month period in the previous fiscal year. Such a high rate of profit growth for the quarter was not observed in the company’s entire history. […]
One of the largest banks in the Russian Federation, VTB, announced the end of 2021 with a net profit of 327.4 billion rubles. It is 4.3 times higher than the figure recorded a year earlier. According to the results of the Q4, net profit also increased 4.3 times in annual terms to 69.8 billion rubles. […]
The next meeting of the Chinese Central Bank ended with the adoption of the expected decision. The annual rate on loans was kept at 3.7%. As a result of the previous two meetings of the bank, this rate was reduced by 20 bp. The rate on 5-year loans was left at 4.6%. Last month it […]
The Ministry of Finance of Russia has developed and sent to the government for approval a bill regulating the cryptocurrency market. The document is posted on the official website of the Ministry of Finance. It provides an opportunity for private investors who have successfully passed the relevant testing to invest annually in cryptocurrencies for no […]
Japan’s statistics office said consumer prices increase 0.5% in January similar to prices in the equal month last year. In December, inflation, calculated approximately prices a year ago, was at the level of 0.8%. Monthly, prices rose by 0.1% in January, identical to in December. Core inflation, which does not take into account the dynamics […]
According to an Airbus press release, the airline group ended 2021 with a net profit of 4.2 billion euros or 5 euros 36 cents per share. The previous year saw a net loss of EUR 1.1 billion or EUR 1.45 per share. The aircraft manufacturer’s annual revenue increased to 51.2 billion euros or 4.5%. The […]
Oil quotes are falling. By 7.56 Moscow time, a Brent crude barrel fell to $93.92, or 0.94% against the closing price of the previous trading session. The cost of a WTI crude barrel fell to $92.75, or 0.97%. Investors are waiting for an increase in the oil market supply. The cause for it was the […]
The weak financial performance of the American video game developer Roblox Corporation in the 4Q caused a significant drop in its shares. The company ended the reporting period with a net loss of $143.3 million. Its size has increased significantly relative to the loss for October-December of the previous year, in 58.7 million dollars. In […]
Oil prices went down on Wednesday following a United States-led coordinated release of stocks from strategic reserves that allayed worries over tightness in global supply. Meanwhile, investors raked profits from the previous day’s rally ahead of the Thanksgiving holiday in the U.S. U.S. West Texas Intermediate ( WTI) crude futures edged down 0.2%, or 12 […]
Gold edged higher on Wednesday even as the dollar recovered and New Zealand’s central bank announced a smaller-than-expected interest rate increase. Gold futures jumped 0.54% to $1,793.45 by 12:01 AM ET (5:01 AM GMT) but stayed below the $1,800 mark. The dollar, typically moving inversely to gold, rose on Wednesday and hovered near a 16-month […]
Oil prices stooped on Monday, bowing under pressure from expectations of higher supplies and dwindling demand. Brent crude futures shed 0.7%, or 58 cents, to $81.59 per barrel by 0151 GMT, while the U.S. West Texas Intermediate (WTI) crude likewise lost 0.7%, or 58 cents, to $80.21 per barrel. Both benchmark contracts have declined in […]
Japan’s economy dwindled faster than anticipated in the third quarter as disruptions in global supply affected exports and business spending plans even as new coronavirus cases dampened consumer mood. Despite the expectations of many analysts that Japan’s economy would recover in the current quarter as pandemic restrictions are lifted, worsening global production bottlenecks remain a […]
China saw its coal output jump to its highest level since at least March 2015 in October. This came as the country authorized a slew of coal mine expansions to reduce prices and improve supply. According to the National Bureau of Statistics’ data on Monday, China produced 357.09 million tonnes of coal last month. This was […]
Oil dipped on Friday in Asia, relinquishing the previous session’s advances. The dollar’s strength fueled bets that the U.S. Federal Reserve will increase interest rates sooner than expected in response to soaring inflation. Brent oil futures dropped 0.81% to $82.20 by 11:16 PM ET (4:16 AM GMT), while the U.S. West Texas Intermediate futures edged […]
House price inflation in the United Kingdom surged in October due to a scarcity of sellers, based on a survey released on Thursday. The Royal Institution of Chartered Surveyors (RICS) said more price hikes were expected. The RICS revealed that a net balance 70% of its members reported a hike in house prices in October. […]
Japanese vehicle manufacturer Subaru Corp showed the public its first all-electric vehicle (EV), the Solterra, on Thursday. Solterra is the culmination of a two-year development project with the company’s largest shareholder Toyota Motor Corp. The launch of the sports utility vehicle (SUV) came amid a global-scale clamor for EVs as nations tightened environmental regulations in […]
The dollar extended its loss on Tuesday morning in Asia, trading below its 2021 peak touched last week. Investors await inflation figures for hints of the United States’ Federal Reserve’s inflation rate moves. The U.S. Dollar Index that measures the greenback against other major currencies dropped 0.11% to 93.942 by 11:59 PM ET (4:59 AM GMT). The USD/JPY pair […]
Japan is taking into account an economic stimulus package worth over 30 trillion yen ($265 billion) targeted at alleviating the impact of the coronavirus pandemic, a plan that would require issuing new debt, local news agency Kyodo News reported. Part of the spending will be taken from funds carried over from the previous year’s budget, […]
The dollar recovered on Thursday morning in Asia following the United States’ Federal Reserve’s decision to start its asset tapering in November. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.15% higher to 93.998. The USD/JPY pair tallied an increase of 0.20% to 114.20. The AUD/USD pair jumped 0.12% to 0.7454, while the NZD/USD pair dropped 0.06% to […]
Gold edged higher on Thursday in Asia, recovering from its three-week low. Investors mulled over a “patient” U.S. Federal Reserve’s latest policy decision as the central bank prepares to begin asset tapering this month. Gold futures increased 0.68% to $1,775.95 by 11:44 PM ET (3:44 AM GMT). The dollar, typically moving inversely to gold, went […]
China’s services activity grew at a quicker rate in October, lifted by the country’s strong demand. However, worsening inflationary pressures pose risks to business confidence for the coming year. The Caixin/Markit services Purchasing Managers’ Index (PMI) jumped to 53.8 in October from 53.4 in September. The latest figure was the strongest reading since July. A sub-index […]
The dollar dropped on Wednesday morning in Asia, hovering close to the euro and yen’s peaks. Investors are awaiting the United States’ Federal Reserve’s move to start its asset tapering before its counterparts from Europe and Japan. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.01% lower to 94.070 by 12:30 AM ET […]
The United States saw its manufacturing activity decline in October as industries grapple with a long delivery period of raw materials. The drop was reflective of the persistent supply chain disruptions’ impact oneconomic activity. The Institute for Supply Management (ISM) index of national factory activity slid to 60.8 in October from 61.1 in September. Manufacturing […]
Asian shares were mixed on Tuesday, while currencies traded in tight ranges ahead of several important central bank meetings. Investors are anticipating these meetings as these could set the tone for risk appetite heading into the coming year. MSCI’s gauge of Asia-Pacific shares outside Japan regained earlier losses, trading 0.8% higher at 0128 GMT. Japan’s […]
Oil was up on Tuesday in Asia, even as the Organization of the Petroleum Exporting Countries (OPEC) failed to deliver the expected output increases in October. In contrast, China boosted operating rates to meet a spike in the country’s diesel demand. Brent oil futures jumped 0.28% to $84.95 by 10:30 PM ET (2:30 AM GMT), […]
South Korea’s consumer inflation surged to an almost 10-year high in October amid higher costs of oil products, rentals, and outdoor dining. The inflation increase added pressure to policymakers ahead of the last monetary policy meeting of the year. Government data on Tuesday showed that the country’s Consumer Price Index (CPI) went up 3.2% from […]
Gold went up on Tuesday in Asia after trading flatly durig its early session. The greenback also edged up over expectations that the U.S. Federal Reserve will start asset tapering in November this year. Gold futures jumped 0.16% to $1,758.55 by 11:36 PM ET (3:36 AM GMT). The dollar, typically moving inversely to gold, inched […]
While DEXs have already garnered popularity, none of these have integrated the Perpetual Protocol features. Perpetual Protocol’s main edge is its decentralization and community governance. Through it, users are given the capacity of trading 10x the leverage, getting their profits up despite being on-chain given that liquidity is at its peak. Perpetual Protocol is the […]
We are no longer strangers to Elon Musk’s love-hate relationship with Bitcoin and of late, he is leaning towards the love. The Techno titan and Tesla CEO and SpaceX Chief Engineer was quoted saying in last week’s Code 2021 event in Beverly Hills that, “It is not possible to, I think, destroy crypto, but it […]
Gold fell on Monday in Asia amid expectations that the U.S. Federal Reserve would begin its asset tapering in line with its timetable despite the lackluster data in the latest U.S. jobs report. Gold futures went down 0.14% to $1,754.95 by 12:14 AM ET (4:14 AM GMT). The yellow metal reached a two-week high on […]
The dollar performed well on Monday morning in Asia, touching a two-and-a-half-year high against the yen. Investors are still expecting the United States’ Federal Reserve to start its asset tapering this November despite an unfavorable U.S. jobs report. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.01% higher to 94.093 […]
European stock markets have opened unchanged on Friday as investors became wary before the release of key U.S. jobs data that would give clues into the Federal Reserve tapering’s timing. The DAX futures contract in Germany climbed 0.1% higher in trading and the CAC 40 futures in France declined by 0.1%, all while the FTSE […]
Samsung Electronics Co. Ltd. noted a 28% gain in its third-quarter operating profit, its highest in three years, thanks to increasing memory chip prices and display sales for new flagship smartphone launches. The initial result was 26% higher than the second quarter but was still lower than forecasted, while the market reaction dampened as analysts […]
The dollar rose on Friday morning in Asia but below a one-year high following an improvement in risk appetite. Meanwhile, the Australian dollar hovered near a three-week high after gaining 0.55% versus the U.S. dollar. The U.S. Dollar Index that measures the greenback against other major currencies climbed 0.01% to 94.233 by 10:37 PM ET (2:37 […]
Shares across the globe fell with government bond yields rising on Wednesday alongside the increase in oil prices, the highest hit in 7 years for the commodity. This factors in the apprehension of rising inflation. The Euro STOXX 600 fell by 1.8%, hurting its gains on its best day in 11 weeks on Tuesday, with […]
Bank of Japan Governor Haruhiko Kuroda assured that Japanese firms have no pressing need to increase wages as they have kept jobs during the previous year’s pandemic-induced economic recession. This means that the country’s firms have no need to fill job vacancies as quickly as U.S. companies. Kuroda informed on Wednesday that the surge in […]
Oil prices went up on Tuesday, reaching their highest level in three years and extending the previous session’s gains after the world’s major oil producers announced that they have decided to put a limit on crude supplies. Brent crude added 0.3%, or 23 cents, at $81.49 per barrel by 0341 GMT, after its 2.5% increase […]
Wall Street saw a broad sell-off of Asian shares seen to weaken for the third session on Tuesday in the midst of worries that oil prices will climb to multi-year highs, effectively adding to inflationary pressures owed to supply chain disruptions. S&P 500 e-minis rose by 0.01%, the pan-region Euro Stoxx 50 futures had gained […]
The inflation rate in the Philippines jumped to almost 5% in September, an economists’ poll showed. The increase was attributed to high food prices as supply constraints persist and oil prices rise. Of the 17 economists consulted, 13 suggested that inflation would increase between 5% and 5.2%, a level not seen since 2018. Five economists […]
Gold rose on Monday in Asia, reaching an almost two-week peak as the dollar weakened and offset bets that the U.S. Federal Reserve could start asset tapering soon. Gold futures added 0.15% to $1,761 by 10:21 PM ET (2:21 AM GMT) after climbing to $1,765.54, their highest level since September 23. The dollar, typically moving […]
Oil prices dropped on Friday, dragged by prospects that the Organization of Oil Exporting Countries and allies (OPEC+) might augment a planned increase in output to alleviate supply concerns. The expectation came after increasing gas prices prompt producers to shift from gas to oil. U.S. West Texas Intermediate (WTI) crude futures shed 5 cents to […]
Brazilian President Jair Bolsonaro stated on Thursday that the profits from state-run oil firm Petrobras could be used to soothe the country’s rising fuel prices, among other options for confronting higher prices. Fuel prices have become a heated issue in Brazil as the country’s inflation grew, with Petrobras’ recent CEOs being forced out over the […]
The dollar soared in European trade on Friday, reaching multi-week highs following the release of a slew of strong economic data and investors’ anticipation for the monthly payrolls figures which hinted at the possibility of earlier-than-expected Federal Reserve policy tightening. The Dollar index soared 0.1% at 90.605, reaching a new three-week high. EUR/USD lowered 0.1% […]
European stocks steadied on Friday trade as investors traded cautiously ahead of U.S. jobs data. Euro zone’s benchmark edged higher and is en route to its third weekly gain as investors’ hope for economic recovery blooms. The pan-European STOXX 600 index advanced 0.2% by 0709 GMT, placing near its record high hit earlier this week. […]
In a bid to strike a trade deal within weeks, Australia and Britain held another round of negotiations, the British envoy divulged on Thursday. As part of its post-Brexit strategy to build stronger commercial and diplomatic ties in the Indo-Pacific region, Britain is pursuing a trade deal with Australia. The deal was believed to have […]
Gold slid on Thursday trade in Asia but lurked above its five-year highs following the release of China Caixin Services Data. Investors also await key U.S. economic data for hints about the economic outlook. Gold futures lowered 0.13% to $1,907.45 by 11:57 PM ET. However, it remained above the $1,900-mark. The dollar, which usually moves […]
China had seen a deceleration in its May factory activity, a private survey showed on Thursday. The decline was mainly attributed to dwindling overseas demand and surging costs, which brought in pressures for the country’s businesses. The Caixin/Markit services Purchasing Managers’ Index (PMI) was read at 55.1 in May, a figure lower than the 56.1 […]
Gold subdued on Wednesday in Asian trade after hitting a five-month peak during the previous session as investors digest positive U.S. economic data and an increase in bond yields. Gold futures edged down 0.32% to $1,898.95 by 12:43 AM, scaling back below the $1,900-mark. The dollar, which usually moves inversely to gold, advanced on Wednesday […]
The Reserve Bank of Australia kept its cash rates at record lows on Tuesday. The central bank also reaffirmed its lower-for-longer policy stance despite recently published data showing the country’s more-than-expected economic growth. The Reserve Bank of Australia (RBA) held on to its 0.1% policy settings for a sixth straight meeting. The Australian dollar fell […]
Asian share markets recorded an upbeat performance, while gold placed near a five-month through on Tuesday. The series of gains came ahead of European and U.S. data, which will render hints about the current status of the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan reached its strongest level in a month, securing […]
Thursday saw European shares inching higher as investors waited patiently for key U.S. labour data. Meanwhile, German shares fell after Bayer shares were hit by a court decision. On the trading day, the pan-European STOXX 600 index climbed 0.1% to 445.76 points, just beneath what Tuesday’s record high of 447.15. Among the notable performers, Airbus […]
Gold prevailed yet again for a fourth month as a Federal Reserve official went on record disparaging prospects of inflation, hence piling pressure on Treasury yields. In an interview, Fed Vice Chair Richard Clarida was quoted saying that the signs of inflation would “prove to be largely transitory”. This is in line with the latest […]
Japan posted an increase in its service prices, jumping for two consecutive months ended April as advertising and freight fees advanced. Wednesday’s data indicated that the country’s economy was slowly recovering from the coronavirus pandemic’s initial drag. The services producer price index recorded an annualized expansion of 1.0% in April, data from the Bank of […]
Gold slid on Tuesday trade in Asia, but it still hovered near its four-month high following the Federal Reserve’s statement about inflation concerns. Gold futures lowered 0.23% to $1,880.15 by 12:08 AM ET. The dollar, which usually moves inversely to gold, was also on the losing end, falling to a four-month low on Tuesday. U.S. […]
Bitcoin, the world’s largest and most sought-after cryptoccurrency, dropped a total of 13% on Sunday. This followed after it encountered another selloff that erased nearly 50% of its all-time record high. Bitcoin was quoted $32,601 at 1800 GMT, shedding $4,899.54 during its closing session. Prior to this, it recorded a historic high of $64,895.22 on […]
European stock markets opened Wednesday trade sharply lower as Wall Street was on a selloff overnight amid pressing concerns over inflation and future Federal Reserve policy. Germany’s DAX futures contract lowered 0.2%. CAC 40 futures in France dipped 1.2% and the FTSE 100 futures contract in the U.K. dropped 0.9%. Wall Street’s major indices lost […]
Oil prices were mixed, stuck in a tight range on Monday after the recovery of Colonial Pipeline’s operations eased worries over supply. However, new restrictions in Asia amid rising COVID-19 cases weighed on sentiment. Brent crude oil futures gained 3 cents to $68.74 per barrel, while U.S. West Texas Intermediate crude rose 0.1%, or 8 […]
European stock markets traded lower on Monday as investors deal with lowly Chinese economic data as well concerns over rising global inflation. Germany’s DAX futures contract lowered 0.3%. CAC 40 futures in France dipped 0.1%. The FTSE 100 futures contract in the U.K. dropped 0.1%. Investors saw Chinese data at a slower growth pace earlier […]
The pound was on course for a second weekly gain against the dollar on Friday, consolidating above $1.49 as the greenback eased following a recent rally. The pound rose 1.8% against the dollar since the beginning of May, boosted by a hawkish Bank of England that began tapering asset purchases, as well as Britain’s vaccination […]
Oil prices dropped on Friday after easing nearly 3% on Thursday as COVID-19 cases remained high in major oil consumer India and as a U.S. key fuel pipeline resumed operations following a cyber attack. Brent crude oil futures fell 0.2%, or 10 cents, at $66.95 per barrel. U.S. West Texas Intermediate slid 0.1%, or 3 […]
Asian share markets recovered on Friday, with Japanese shares performing the strongest. The jump could be attributed to investors’ enthusiasm over stocks that would highly benefit from a rebound across the globe. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.6% increase. Chinese blue chips hiked 0.1%, while Australian shares traded 0.7% higher. […]
European stock markets opened low on Tuesday trade as inflation concerns worried investors. Germany’s DAX futures contract slid 0.4%. CAC 40 futures in France lowered 1.1% and the FTSE 100 futures contract in the U.K. dipped 1.1%. The Dow Jones Industrial Average closed 0.1%, or 35 points, lower Monday, ending its five-day win streak. The […]
Surveys revealed on Tuesday that British retail sales soared as shoppers bought clothes at home amid the reopening of shops in the United Kingdom. According to the British Retail Consortium, total sales for the month of April went 7.3% higher than in the same period two years ago. The BRC reported that comparisons with April […]
European stocks set their fresh record high on Monday trade on a growing optimistic outlook amid the reopening of major economies. The pan-European STOXX 600 index added 0.1%, reaching a fresh all-time high in early trading, with miners rallying 2.2% on the back of strong metal prices. The FTSE 100 in the U.K., a commodity-heavy […]
Asian share markets recorded a positive performance on Monday, with speculations about ultra-low interest rates supporting investors’ sentiment amid receding inflation. Oil and gas prices also advanced after a cyberattack shut a major U.S. pipeline operator. MSCI’s broadest index of Asia-Pacific shares outside Japan hiked 0.35%, while U.S. stock futures traded 0.24% higher. Australian shares […]
The dollar was on the defensive on Friday ahead of a key U.S. jobs report that could cement hopes for a strong economic recovery and improve appetite for stocks, currencies and commodities. The dollar index traded near 90.868, its lowest level so far in the week. It lost nearly 0.4% overnight. The pound stood at […]
The services industry of the United States posted a mild contraction in April. The deceleration could be attributed to shortages of inputs as the country’s large stimulus package and improving public environment boosted demand. The Institute for Supply Management’s non-manufacturing activity index was read at 62.7 in April. The reading placed lower than the 63.7 […]
A sharp decline in the tech sector overnight ahead of a new round of corporate earnings caused mixed results for European stock markets on Wednesday. Germany’s DAX futures gained 0.2%. CAC 40 futures in France declined 0.3%. The U.K.’s FTSE 100 futures contract improved 0.1%. In Wall Street, concerns of rising interest rates made investors […]
The dollar fell on Tuesday, following a surprise slowdown in U.S. manufacturing growth that prompted traders to trim bets on a stronger U.S. economy lifting the dollar. With Asia trade muted, the dollar rose from overnight levels to sit at 109.14 against the yen and at $1.2054 per euro. The euro climbed 0.3% overnight, boosted […]
The United States saw a decline in its manufacturing activity in April. The contraction came after inputs decreased on rising coronavirus vaccinations and massive fiscal stimulus. The Institute for Supply Management’s index of national factory activity was read at 60.7 last month. The figure placed lower than the 64.7 reading seen in March, which was […]
Asian share markets performed poorly during their early Friday trade. Stocks failed to track Wall Street’s overnight rally as a slew of economic figures across the region dampened investors’ enthusiasm. China’s Shanghai Composite recorded a 0.61% drop, while the Shenzhen Component traded 0.47% lower. The series of declines followed after the country’s Purchasing Managers Index […]
Oil prices dropped on Monday on worries that rising COVID-19 cases in India will lower fuel demand in the country. Investors adjusted positions ahead of an expected increase in OPEC+ oil production from May. Brent crude futures fell 0.6%, or 38 cents, at $65.73 per barrel, after a 1.1% increase on Friday. U.S. West Texas […]
Oil prices climbed on Friday in hopes of a U.S. and European fuel demand recovery on easing lockdowns and faster economic growth. However, worries about India’s worsening second COVID-19 wave capped gains. Brent crude futures gained 0.3%, or 21 cents, at $65.61 per barrel, following an 8-cent rise on Thursday. U.S. West Texas Intermediate crude […]
The dollar lingered just above a seven-week low on Wednesday as subdued U.S. bond yields reduced the greenback’s appeal. The dollar index traded at 91.196 in early Asian trade after dropping to as low as 90.856 on Tuesday, its lowest since March 3. The index has dropped 2.2% this month. The Japanese yen rose to […]
European stocks barely moved on Tuesday trade as their levels were unchanged from the previous session. This as investors await the next corporate earnings report. Germany’s DAX futures improved 0.1%. France’s CAC 40 futures also added 0.1%. Meanwhile, the U.K.’s FTSE 100 futures dropped 0.1%. Across the Atlantic, major indices in the United States dropped […]
The dollar hovered near a six-week low against its peers on Tuesday as the euro rallied amid an upbeat outlook for the region’s vaccination programme. The dollar had been losing traction as U.S. bond yields dropped below a 14-month high hit last month. The euro climbed to $1.2038 after hitting a six-week peak of $1.2048 […]
Asian share markets were seen upbeat on Tuesday, with Chinese shares leading the jump as they resisted Wall Street’s tech-driven decline. The dollar, on the other hand, remained weak against its major peers. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.2% hike. The index’s upswing came after Chinese blue chips’ 0.13% gain […]
European stock futures lowered on the week’s trade opening ahead of the European central bank meeting. Germany’s DAX futures dipped 0.3%, CAC 40 futures in France fell 0.8%. The FTSE 100 futures in the U.K. were down 0.3%. In corporate news, CNH Industrial ended negotiations with Chinese company FAW Jiefang over the potential sale of […]
Lowering U.S. Treasury yields provided gold some boost to hover near its seven-week high, though remaining down on Monday trade in Asia. Gold futures lowered 0.12% to $1778. Moving inversely to gold is the dollar, which inched up on Thursday, but flirted near a one-month low. Together with the dollar, the benchmark U.S. 10-year Treasury […]
Car sales in Europe spiked in March, thriving despite virus constraints and making up for a dismal sales record last year. According to the European Automobile Manufacturers’ Association, new car registrations increased 63% for the month of March, erasing the early-year fall to leave sales up 0.9% for the quarter. ACEA furthered that March tends […]
Oil prices fell on Thursday though holding near one-month peaks after futures climbed in the last session. The IEA and other agencies revised oil demand forecasts for 2021 as economies recover from the pandemic. Brent crude fell 0.3%, or 21 cents, at $66.37 per barrel, following a 4.6% gain on Wednesday, its highest close since […]
Asian share markets recorded a subdued trading session on Thursday, with Wall Street performing weakly as a selloff in Coinbase dragged technology-related shares. Meanwhile, the dollar index traded poorly near its one-month low. After two consecutive days of gains, MSCI’s broadest index of Asia-Pacific shares went inactive. It was last seen at 690.53, placing below […]
Machinery orders in Japan contracted to their lowest level in about a year in February. According to data, the decline undermined optimism for an increase in capital expenditure as this is necessary for the sector’s acceleration from the coronavirus drag. Data from the Cabinet Office showed that core orders dropped 8.5% in February from a […]
Oil prices rose on Tuesday as data showed China’s consumer import growth rose and on Middle East tensions after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites. Brent crude futures climbed 0.5%, or 31 cents, at $63.59 per barrel. U.S. West Intermediate crude oil futures rose 0.5%, or 28 cents, at […]
The firming dollar and the surging U.S. Treasury yields caused the gold to go down on Monday trade in Asia. Gold futures lowered 0.38% at $1738.25. Encouraging U.S. data released on Friday resulted in a big risk appetite among investors, turning away from the yellow metal. The producer price index for the month of March […]
The dollar hovered near 2 ½-week lows against major currencies on Monday as a drop in Treasury yields restrained the greenback. Both the dollar and bond yields took a breather after rallying to multi-month peaks last month, supported by bets that a fast U.S. pandemic recovery will boost inflation faster than Fed policymakers expect. The […]
Japan saw an increase in its wholesale prices, marking the first annualized jump in more than a year in March. Data released on Monday indicated that upbeat commodities reduced corporate margins, underscoring some inflationary pressures in the world’s third-largest economy. The corporate goods price index (CGPI) recorded a 1.0% jump in March from a year […]
Asian share markets were seen downbeat on Monday as investors waited if corporate earnings in the United States would come parallel with sky-high valuations. Meanwhile, strong U.S. inflation and retail sales might affect bonds’ performance this week. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.6% lower. Japan’s benchmark index Nikkei plunged 0.5%, while […]
Factory gate prices in China accelerated above expectations in March, tallying the sharpest pace of growth since July 2018. The expansion was indicative of the country’s sustained economic recovery from the coronavirus pandemic. China’s producer price index recorded a 4.4% increase, the National Bureau of Statistics said. The annualized reading came larger than the 3.5% […]
Toyota Motor Corp flashed its new Lexus and Mirai car models in Japan on Thursday. These cars are tooled with the automaker’s newest advanced driver assistance that facilitates wireless software updates and safe driving features. Toyota’s Advanced Drive, its latest driving assist technology is a level 2 autonomous system that enables drivers to effortlessly perform […]
Oil prices rose on Wednesday on prospects for stronger global economic recovery amid speedy vaccine rollouts and news that U.S. crude inventories dropped. Brent crude futures for June delivery climbed by 0.5%, or 34 cents, at $63.08 per barrel. U.S. West Texas Intermediate crude for May contract gained 0.5%, or 32 cents, at $59.65 per […]
In a bid to bolster internet connection capacity between Southeast Asia and America, Facebook partnered with Google for a project that will produce two new undersea cables to connect countries like Singapore, Indonesia and North America. Kevin Salvadori, Facebook Vice President of Network Investments confirmed the development and said the two cables, named Echo and […]
Gold retreated in Asian trade on Friday to post its first weekly decline in three as U.S. Treasury yields climbed. Gold futures fell 0.7% at $1,723.95, following its one-week low one-week low performance of $1,721.46 on Thursday. Over the week, gold declined a total of 1% as the dollar posted a four-month high in the […]
Asian share markets posted a turbulent trading session on Thursday. This followed after China saw a selloff in technology-related shares, with investors’ enthusiasm greatly affected by the country’s exclusion from U.S. bourses and a shortage in semiconductor supplies. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% increase. Shares in Hong Kong dropped […]
Figures released on Wednesday showed British inflation on a sudden drop in February as clothing prices hit their biggest annual drop since 2009, complemented by cheaper second-hand cars. A 0.4% decline was recorded in the month of February for the annual rate of consumer price inflation. This came from a 0.7% fall in January and […]
Asian share markets reached low grounds on Wednesday. This came after coronavirus lockdowns in Europe and potential U.S. tax hikes dragged investors’ appetite, prompting them to resort to safe havens. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1% lower, dropping further after a 0.9% decline seen on Tuesday. After five consecutive months of […]
Mexico’s economy was predicted to expand more than 5% this year. The finance ministry viewed that an expansion would come easily, with the government working on ways to reduce tax evasion before discussing potential tax reform. Vaccinations across the globe and U.S. President Joe Biden’s massive stimulus package were expected to alleviate the country’s economy, […]
Asian share markets recorded a mixed session as bonds advanced on Monday. This followed after the Turkish lira dropped, prompting talks that capital controls are necessary to alleviate the downswing. The lira lagged behind the dollar, and the rout was mainly from President Tayyip Erdogan’s unexpected dismissal of Turkey’s central bank governor. In turn, analysts […]
Oil prices fell for a fifth consecutive day on Thursday after U.S. crude and fuel stockpiles rose, while the coronavirus pandemic clouded demand outlook. Brent fell 0.5%, or 37 cents, at $67.63 per barrel following a 0.6% drop in the last session. U.S. oil lost 0.5%, or 32 cents, at $64.28 per barrel after sliding […]
Gold prices flirted near their highest level in more than two weeks as the possibility of higher inflation loomed larger. The caution ahead of the up-and-coming US Federal Reserve policy decision, however, curbed further gains of the yellow metal. Gold futures added 0.22% at $1,734.75. For the fourth straight day, the dollar gained as the […]
Oil prices were mixed on Wednesday as doubts about demand in Europe offset hopes for U.S. refinery activity recovery as U.S. crude inventories unexpectedly declined last week. Brent crude futures slid 0.1%, or 7 cents, at $68.32 per barrel after initially rising by 23 cents. U.S. West Texas Intermediate crude futures climbed 4 cents to […]
Finance ministers of the euro zone were one to pledge continued fiscal support until 2022 in an effort to lift the common currency area to rise up from the coronavirus crisis. They also said that they would take care of the increasing debt only once the economic rebound starts. The eurogroup said the fiscal support […]
Oil prices dropped for a third consecutive day on Tuesday as a spike in U.S. crude stockpile raised demand fears after Germany and France planned to stop COVID-19 vaccinations. Brent crude dropped 0.7%, or 49 cents, at $68.39 per barrel following a 0.5% decline in the last session. U.S. crude fell 0.7%, or 47 cents, […]
Mexico’s economy and exports will benefit from the Biden administration’s $1.9 trillion coronavirus relief package and at the same time, will pose challenges in the market, according to Bank of Mexico’s governor Alejandro Diaz de Leon. U.S. Ten-year yields jumped to 13-month highs on Friday, fueled by optimism brought by the U.S. coronavirus relief package […]
Global share markets were seen upbeat, while U.S. bond yields placed near their 13-month peak on Monday. The series of gains came after U.S. President Joe Biden’s stimulus package was enacted last week, increasing investors’ optimism that the country’s economy will stage an impressive expansion. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2%, […]
Japan saw its wholesale prices drop at a slower pace for three consecutive months ended February. This heavily indicates that a recent rebound in fuel prices and an increase in domestic demand will likely alleviate the country’s economy from deflationary pressures. The corporate goods price index (CGPI) posted a 0.7% annualized contraction, data from the […]
Oil prices climbed on Tuesday on expectations for a global economic recovery after the U.S. Senate passed a massive $1.9 trillion stimulus package. Prices were also supported by a probable drop in U.S. crude oil stockpile. However, a strong dollar and diminishing fears of a supply glut in Saudi Arabia following an attack on its […]
Asian share markets recorded an upbeat performance, while the dollar placed near a three-month high. The series of gains came after the U.S. Senate successfully legislated a $1.9 trillion stimulus package, and an impressive payrolls report bolstered economic optimism. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4%. Japan’s benchmark index Nikkei advanced 1.2%, […]
The dollar firmed near three-month highs on Friday after rising overnight as Fed Chair Jerome Powell stuck with dovish policies despite a recent surge in bond market volatility. The dollar surged the most in a month after Powell reiterated the central bank’s commitment to ultra-dovish monetary policy until the economy fully recovers. Risk currencies, along […]
Liu Shijin, a policy adviser to the People’s Bank of China suggested on Friday that China’s Gross Domestic Product (GDP) could grow by 8-9% this year as it continues to show signs of recovery from the coronavirus pandemic. The projected growth, however, does not imply that the world’s second-largest economy has gotten back to a […]
European stock markets were mixed on Wednesday as Germany posted stronger-than-expected economic data. Corporate earnings also weighed on markets. Germany’s DAX was up 0.4%, while France’s CAC 40 dropped 0.1% and the U.K.’s FTSE index lost 0.7%. Germany posted stronger-than-expected economic output in the fourth quarter of 2020 as it grew 0.3%. It was bigger […]
The dollar fell to three-year lows against the pound as the prospect of extended easy monetary conditions worldwide lifted risk sentiment. The dollar index sat at 90.11, hovering near a six-week low of 89.941 hit overnight. The Aussie surged to a three-year high of $0.7945 before falling slightly to $0.7914. The kiwi climbed as high […]
Oil prices dropped on Wednesday as industry data showed a sudden build in U.S. crude stocks last week after a deep freeze in Texas hit output. Crude inventories climbed by 1 million barrels in the week ended Feb. 19, contrary to analysts’ estimates for a 5.2 million-barrel drawdown. U.S. West Texas Intermediate crude futures dropped […]
The dollar fell near a six-week low on Tuesday, while commodity currencies hovered near multi-year highs as traders focused on how Fed Chair Jerome Powell will respond to hopes for resurgent inflation. The dollar index traded at 90.019 on Tuesday, just above the lowest level hit in mid-January. The Aussie bought $0.7913 and the kiwi […]
Oil prices rose by over $1 on Tuesday as U.S. output slowly rebounded from a deep freeze in Texas that shut down crude production last week. U.S. shale oil producers said it could take up to two weeks to resume over 2 million bpd of crude output shut down by the extreme cold. Brent crude […]
Oil prices fell over 1% on Friday, adding to declines sustained overnight, on fears that refineries won’t resume operations soon following a deep freeze in the U.S. South. Brent crude futures dropped 1.4%, or 87 cents, at $63.06 per barrel. U.S. West Texas Intermediate crude futures lost 1.4%, or 82 cents, at $59.70 per barrel. […]
The Nasdaq ended its session negatively, while the S&P 500 made minimal movements on Wednesday. This could be attributed mainly to investors’ withdrawal from technology shares, with concerns about inflation contributing to stocks’ weak performance. Technology shares declined the most, greatly dragging the tech-heavy Nasdaq and the S&P 500. Apple Inc, Paypal Hodings Inc, and […]
Hong Kong had seen a jump in its cinema stocks on Tuesday. This followed after box offices in China tallied a revenue record of over 6 billion yuan for the week starting Feb. 11 as the Lunar New Year sparked movie enthusiasm. Data from Maoyan Entertainment showed that the record placed above the previous week-long […]
SoftBank Group Corp reached new heights with its shares skyrocketing on Tuesday as investors celebrated the recovery in the value of the firm’s tech portfolio. SoftBank shares edged up 4% at 10,420 yen, posting their highest in 30 years. The Nikkei 225 index component bested its previous record of 10,111 yen recorded in February 2000. […]
The dollar started the week hovering near two-week troughs on Monday as investors questioned whether the U.S. pandemic recovery would be as fast as anticipated. The dollar index traded at 90.427, near last week’s low of 90.249, its highest level since Jan. 27. The index hit a two-month high of 91.6 on Feb. 5 on […]
Oil prices dropped for a second straight day on Friday after OPEC slashed its demand forecast and the International Energy Agency said the market is oversupplied. Brent crude fell 0.8%, or 47 cents, at $60.67 per barrel after losing 0.5% in the last session. U.S. oil dropped 0.9%, or 53 cents, at $57.71 per barrel […]
Solid corporate earnings and hopes for a big U.S. stimulus package weighed on markets, pushing global equity funds to secure their largest inflows in the week ended Feb. 10. The past week ended Wednesday, a total of $43.1 billion in equity funds, the largest inflow since mid-March 2019, was purchased by investors. The data was […]
Asian share markets remained at highs on Thursday. This came after investors’ sentiment was heavily affected by an increase seen recently, with the prospect of a stimulus package supporting the session after the Federal Reserve went dovish for its outlook, and inflation in the United States rendered a positive reading. MSCI’s broadest index of Asia-Pacific […]
January had seen China’s factory prices advance for the first time in 12 months. The year-on-year jump came to be the most rapid pace of expansion the country had seen since May 2019, indicating that the world’s second-largest economy is gaining momentum towards recovery. The producer price index (PPI) recorded a 0.3% jump from a […]
Singapore will be releasing next week its slashed budget that will support businesses after an unprecedented fiscal stimulus last year to lift the pandemic-battered economy. Singapore’s trade-reliant economy is still groping for form after it suffered from its worst recession last year, with the government having already vowed tens of billions of dollars in fiscal […]
Asian share markets saw an increase on Tuesday, while oil prices reached a 13-month high record on demand-driven optimism. The series of gains followed after Wall Street recorded a historic high, while an endorsement from Tesla Inc greatly supported Bitcoin. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.32%, easing from its 730.16 record […]
According to a Reuters survey, Japan’s economic emergence from the coronavirus drag might have stalled in the fourth quarter. The prediction was rendered even after the country staged a brisk recovery from its sharpest recession earlier in 2020, indicating that households and companies were still grappling with the pandemic. With upbeat exports minimizing some of […]
Asian shares and oil prices saw an upbeat performance on Monday. The series of gains could be attributed to investors’ enthusiasm over the prospect of a $1.9 trillion coronavirus package, with expectations that this will be legislated within the month just as COVID-19 vaccines are being rolled out across the globe. MSCI’s broadest index of […]
The dollar was on course for its best weekly rise in three months on Friday, boosted by increasing confidence that the U.S. economic recovery will outdo global peers. The dollar index hit a new two-month high in Asian trade as traders await nonfarm payroll figures due later in the day. The index rose to 91.576 […]
With vaccine distribution showing progress, hopes for faster normalisation in the global economy and earnings recovery weighed on global markets, with Asian shares leading the way and edging Wall Street on Friday trade. Global shares hovered near their record peak hit nearly two weeks ago with an index of the world’s major 50 markets, MSCI […]
December had seen Japan’s household spending drop for the first time in three months. This heavily indicates that the country’s consumer sentiment was dwindling even before the government implemented virus-related restrictions. Household spending recorded a 0.6% drop in December, official data showed on Friday. While the record came slower than the 2.4% median forecast, it […]
Shares of Qualcomm Inc dropped 7.6% during their after-hours trade on Wednesday. The decline was mainly from the company’s struggling sales growth as restrictions seen in semiconductor supply heavily dragged the sector. For the fiscal first quarter ended Dec. 27, the company’s sales reached $8.24 billion, with its adjusted profit advancing $2.17 per share. While […]
Taiwan and South Korea yielded improved factory performances in January, while China and Japan suffered amid coronavirus resurgence. The mixed factory activities in the Asian region reflect the imbalanced nature of its economic recovery. Major chip exporters South Korea and Taiwan posted improved factory activity, benefitting from continued sharp demand for semiconductors crucial to work-from-home […]
December had seen Japan’s industrial output plunge deeper, indicating that the country’s emergence from the coronavirus drag is dwindling. This was mainly from factories’ worsening demand as different countries implemented tighter coronavirus measures. The country’s factory output recorded a 1.6% contraction in December. This followed after a strong performance in inorganic and organic chemicals manufacturing […]
Oil prices fell in early Asian trade on Thursday despite a big drop in U.S. crude inventories, as the dollar’s strength and renewed fuel demand worries weighed on prices. U.S. West Texas Intermediate crude futures slid 0.62%, or 33 cents, at $52.52 per barrel, losing gains made on Wednesday. Brent crude futures was down 0.65%, […]
Oil prices rose on Wednesday after U.S. crude inventories slid unexpectedly last week, while China reported its lowest daily new coronavirus cases, boosting hopes for demand recovery. Brent crude futures rose 0.3%, or 19 cents, at $56.10 per barrel. U.S. West Texas Intermediate crude futures was up 0.4%, or 20 cents, at $52.81 per barrel. […]
Global green bond issuance touched a historic high of $269.5 billion by the end of last year. More so, it is expected to hit a new record peak of around $400-$450 billion in 2021, a report released by the Climate Bonds Initiative (CBI) showed on Monday. Considered as fixed-income securities, green bonds are dedicated to […]
Asian shares skyrocketed on Wednesday, hitting a new record high as U.S. Treasury Secretary nominee Janet Yellen proposed a hefty fiscal relief package in light of lifting the pandemic-hit economy. MSCI’s Asia-Pacific index outside Japan soared 0.95%, posting its best record ever. Hong Kong’s Hang Seng added 1.0%, nearing its highest level in 2019 while […]
The dollar fell from a near-one-month high on Tuesday as traders became wary before U.S. Treasury Secretary nominee Janet Yellen testifies later. The dollar index fell 0.1% to 90.708 in Asian trade, a day before President-elect Joe Biden is scheduled to be inaugurated. The dollar started the year with a near-2% rally against its peers, […]
Brent crude futures rose on Tuesday as hopes that the government will support global economic recovery and oil demand offset worries about renewed lockdowns affecting fuel consumption. Brent crude futures for March delivery were up 0.3%, or 17 cents, at $54.92 per barrel following a 35-cent slip in the last session. U.S. West Texas Intermediate […]
British companies on Tuesday cried out for a fresh $10.3 billion worth COVID-19 relief package, saying that they can no longer wait until March to find out if the government included pandemic support for them. According to the Confederation of British Industry, firms now face crucial decisions about jobs and investment, hence the need to […]
On Tuesday, Logitech International raised its year-on-year outlook as it also reported an upbeat quarterly operating income. The company increased its forecast mainly from a coronavirus-driven surge in demand as more people purchased work-from-home and gaming equipment. The computer peripherals and software maker raised its 2021 outlook for sales and profit for the third time. […]
Oil prices slid further on Monday from recent 11-month highs, ending a rally that began in October on strong Chinese demand and output cuts, with the market outlook doubted as COVID-19 cases rose. Brent crude dropped 0.5%, or 30 cents, at $54.79 per barrel following a 2.3% decline on Friday. U.S. oil fell 0.4%, or […]
Oil prices fell for a second straight day on Thursday as rising global COVID-19 cases raised demand worries, despite a U.S. crude stock drawdown capping losses. Brent crude oil futures slid 0.1%, or 5 cents, at $56.01 per barrel. U.S. West Texas Intermediate crude futures was down 1 cent to $52.90 per barrel. U.S. crude […]
Nikkei reported on Monday the Bank of Japan will consider slashing its economic growth forecast for this fiscal year ending in March. This, according to Nikkei, is due to consumption being negatively impacted by the state of emergency measures implemented to mitigate the spread of the coronavirus in the country. However, the BOJ may appraise […]
With the coronavirus crises magnifying economic losses, Ford Motor Co reported on Monday it will shut down its three plants in Brazil this year. Ford will also take whopping $4.1 billion pretax charges. Ford’s Brazil plants were described as an underused facility of the automaker. Ford’s manufacturing activities in Camaçari and Taubaté will be immediately […]
The dollar index held onto its biggest gain in over two months on Friday as a gain in U.S. yields prompted a sell-off. The greenback bounced from a three-year low after the dollar index fell almost 7% in 2020 and nearly 0.9% in the new year despite expectations for a U.S. economic package. Democrats won […]
In light of an expected new economic recession triggered by a surge in COVID-19 infections resulting in a third nationwide lockdown, the British government offered on Tuesday a 4.6 billion pound ($6.2 billion) support package for businesses. The third national lockdown was announced by Prime Minister Boris Johnson on Monday, citing the highly contagious new […]
The dollar opened 2021 by sliding on Monday as investors went on a sell-off in Asian trade, betting that the pandemic recovery will boost other currencies. The euro, which fell on New Year’s Eve profit-taking, gained 0.3% to $1.2252. The pound firmed at $1.3698, levels not seen since early 2018. The yuan surged 0.9% to […]
U.S. consumer confidence unexpectedly dropped in December, posting a four-month low. This is amid the resurging coronavirus infections that are pushing more states to re-impose tight restrictions on businesses and travel. Based on the report released on Tuesday, the Conference Board index plunged to 88.6 from a downwardly revised 92.9 reading last month. The December […]
Japan’s cabinet approved a record $1.03 trillion budget draft for the next fiscal year beginning in April 2021 on Monday. The Japanese Ministry of Finance said that economic spending put pressure on public finances. The 106.6 trillion yen ($1.03 trillion) annual budget was boosted by record military and welfare outlays. It rose 4% from this […]
The dollar stabilized on Friday after a week of selling that has pushed it below major support levels. Its decline prompted short sellers to ride the sentiment and make quick profits. The dollar rose 0.3% to 103.39 against the Japanese yen on Friday and gained by the same margin against the Aussie and the kiwi. […]
November had seen Japan’s core consumer prices drop at their fastest pace in a decade. The decline could be attributed to the coronavirus’s impact on demand as the country grapples with the threat of deflation and fears that former premier Shinzo Abe’s stimulus policies will be nullified. Core consumer prices recorded a 0.9% drop in […]
After reaching their milestone peaks the previous day, Asian share markets retreated from high grounds on Friday. However, the prospect of a massive stimulus package in the United States greatly supported investors’ appetite for stocks and other risky assets. MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 0.3% decline, easing from Thursday’s historic […]
Rishi Sunak, Britain’s Finance Minister formally announced on Thursday his plan of extending a job support programme by another month until the end of April. The finance minister also affirmed that COVID-stricken businesses would be offered new COVID loans until the end of March next year. The news broke out after Sunak announced that he […]
The dollar sank to new 2 ½-year lows against major peers on Thursday as progress on a U.S. stimulus package and a Brexit trade deal lifted risk appetite at the cost of safer assets. The dollar index dropped to 89.995 in Asian trade, sinking below 90 for the first time since mid-2018. The euro stood […]
The Bank of England is set to withhold more stimulus on Thursday as it waits for any adverse economic effects once Britain and the EU do not agree on a trade deal in two weeks. The EU and Britain are still sorting things out to eschew the burden of import tariffs on trade from Jan. […]
Oil prices fell on Wednesday on a sudden build in U.S. crude oil stockpile and as investors worried about fuel demand being squeezed amid stricter lockdowns in Europe. Brent crude futures dropped 0.2%, or 11 cents, at $50.65 per barrel. U.S. West Texas Intermediate crude futures slid 0.2%, or 9 cents, at $47.53 per barrel. […]
Oil prices dropped on Tuesday as stricter restrictions in Europe and a forecast for a slower demand recovery next year outweighed upbeat news from vaccine rollouts and worries about rising tensions in the Middle East. U.S. West Texas Intermediate crude futures slid 0.8%, or 36 cents, at $46.63 per barrel. Brent crude futures dropped 0.8%, […]
November had seen China’s industrial output grow in line with forecasts. The expansion marked the sector’s eighth consecutive month of growth as the country’s economic emergence from the coronavirus drag accelerated and global demand picked up. Industrial output advanced 7.0% in November year-on-year, data from the National Statistics Bureau showed on Tuesday. The figure hit […]
Global share markets were seen upbeat on Monday as investors weighed the possibility of additional fiscal and monetary stimulus in the United States. Moreover, the British pound recovered from low grounds on post-Brexit trade. After reaching a series of milestone peaks last week, MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.1%. Japan’s benchmark […]
Repo transactions with supervised non-bank credit providers would be available to small businesses badly hit by the coronavirus crisis to boost credit supply, the Bank of Israel announced on Sunday. The non-credit bank offer would be introduced in the first week of January, according to the bank. The new monetary scheme aims to increase credit […]
In an effort to circumvent a chaotic Brexit on Dec.31, leaders of Britain and the European Union concurred on Sunday to continue trade talks past its set Sunday deadline to reach an elusive free trade deal. EU Commissioner Ursula von der Leyen and British Prime Minister Boris Johnson ordered their negotiators on Sunday to continue […]
China’s auto sales this year are seen to hit up to 25 million units, an industry body said on Friday. China leads the global auto industry recovery from downfall during the COVID-19 pandemic onslaught. China Association of Automobile Manufacturers’ executive vice-chairman Fu Bingfeng announced during its annual conference in Beijing that the institution expects Chinese […]
Asian share markets took a breather from their milestone peaks on Thursday. The series of declines could be attributed to investors’ dampened sentiment brought by a sell-off in tech stocks and stimulus concerns in the United States. In addition to this, sterling traders were seen wary over an impasse in Brexit talks. MSCI’s broadest index […]
Oil prices slid on Tuesday as the state of California enforced stricter lockdowns through Christmas and as coronavirus infections continued to rise in the United States and Europe. U.S. West Texas Intermediate crude futures dropped 0.4%, or 18 cents, at $45.58 per barrel. Brent crude futures lost 0.5%, or 24 cents, at $48.55 per barrel. […]
The U.K. and the European Union are meeting for the last time to settle, once and for all, a free trade agreement before the Brexit transition expires at the end of the year. The prime minister of Ireland warned against over optimism about striking an agreement between two parties, saying that the chances of getting […]
Oil prices dropped on Thursday as major producers fought over the need for extending record output cuts that were imposed at the beginning of the COVID-19 pandemic. Brent crude fell 0.3%, or 15 cents, at $48.10 per barrel following a 1.8% gain on Wednesday. U.S. oil slid 0.4%, or 17 cents, at $45.11 per barrel […]
November had seen the fastest pace of growth recorded by China’s factory sector in a decade, a business survey showed on Tuesday. The reading came while the world’s second-biggest economy emerges from the pandemic drag toward its pre-pandemic levels. After hitting 53.6 in October, the Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) advanced to 54.9 in […]
Japan’s retails sales finally posted upbeat figures after eight months of slump and factory output likely grew for five months in a row. These developments, along with other significant data, were revealed by a Reuters poll on Friday. Trade ministry data is expected to show a 2.1% increase in industrial output month-on-month in October, up […]
Brent crude hit its highest levels since March as a third COVID-19 vaccine candidate boosted hopes of a faster recovery in fuel demand. U.S. President-elect Joe Biden had been given the go signal to begin his leadership transition. Brent crude futures gained 0.9%, or 43 cents, at $46.49 per barrel. U.S. West Texas Intermediate crude […]
Asian shares recorded an upbeat performance on Tuesday. The series of increase came after markets’ sentiment was supported by reports that U.S. President-elect Joe Biden was given the approval to start his White House transition. In addition to this, encouraging news about a coronavirus vaccine bolstered gains. Biden’s plan of nominating former Federal Reserve Chair […]
Australia’s corporate regulator is doing an investigation at the country’s stock exchange on an outage that happened last week. The outage disrupted trading systems and almost eliminated an entire session, according to bourse operator ASX Ltd on Monday. The software problem stopped trade just 20 minutes into the session. The issue raised worries about the […]
Oil prices rose on Monday as investors were optimistic about improving crude demand amid successful coronavirus vaccine trial results. However, gains were capped by renewed lockdowns in many countries. Adding to the sentiment boost was OPEC and its allies’ decision to keep crude output in check. Brent crude futures gained 0.4%, or 17 cents, at […]
On Friday, global share markets were underpinned by U.S. Treasury Secretary Steven Mnuchin’s decision of nullifying some the country’s coronavirus relief programs. The cancellation of funds for struggling businesses sparked a dispute between the Federal Reserve and the Department of Treasury. In Asia, Japan’s benchmark index Nikkei recorded a 0.5% drop as South Korea’s KOSPI […]
Global shares rose to record highs for a third straight session as positive news about COVID-19 vaccines relieved worries about rising coronavirus infections and related economic damage. Pfizer Inc shares climbed 0.78% after the drugmaker announced that its COVID-19 vaccine was 95% effective. Pfizer is also applying for emergency authorization from the United States within […]
After a late selloff on Wednesday, shares in the United States recorded a dampened session. This came after investors’ vaccine-driven sentiment was hurt by an upsurge in new COVID-19 infections and newly implemented restrictions in a bid to control the coronavirus pandemic. While Wall Street’s major indexes advanced, with economically sensitive cyclicals and small caps […]
Wall Street was seen upbeat on Monday, with the S&P 500 and the Dow Jones industrial average hitting milestone peaks. This followed after encouraging vaccine-related news fuelled investors’ optimism. However, surging infections and newly implemented restrictions capped the possibility of staging a brisk recovery from the coronavirus downturn. All of Wall Street’s major indexes gained, […]
Oil prices rose on Monday, recovering last session’s losses as hopes that OPEC and its allies will maintain existing output cuts, thus offsetting worries about weak fuel demand. This came amid the resurgence of global coronavirus cases and rising production from Libya. Brent crude futures for January climbed 1%, or 44 cents, at $43.22 per […]
The third quarter had seen a drop in WeWork’s revenue. However, its cash burn decelerated, the company announced on Thursday. In addition to this, the management remains complacent that the shared-workplace provider can neutralize the effect of the coronavirus on the corporate sector. The company’s quarterly revenue dropped a total of 8% from the second […]
Oil prices were seen struggling during their early trade on Friday. This followed after an increase in new coronavirus infections sparked concerns about the global economy and short-term fuel demand. But with vaccine optimism still in the air, oil prices were expected to record another week of gain. After shedding 0.8% on Thursday, U.S. West […]
On Friday, the Japanese yen recovered after investors’ focus shifted back to safe-haven currencies. This came after encouraging results from a coronavirus vaccine remain inadequate in alleviating the economic impact of a trying winter in the United States and Europe. Against the dollar, the yen advanced 0.2% in Asia. The jump came to be the […]
The struggling and virus-beaten economy of Britain had advanced 1.1% in September. The reading came slower than what was expected from a month ago, even before the latest restrictions on businesses were implemented, official data showed. The figure placed below the 1.5% monthly growth predicted by economists in a Reuters survey. Moreover, the country’s gross […]
Technology shares greatly supported the Nasdaq, with the index closing its session higher than its previous record. Meanwhile, oil prices advanced further on Wednesday as vaccine-driven optimism was dampened by the possibility of lockdown reimplementation amid surging coronavirus infections. The Dow Jones Industrial Average had seen a 0.08% drop, while the S&P 500 fell 0.77%. […]
Asian stock markets were poised for another hefty rally on Thursday. This was expected as consistent global stimulus efforts and optimism brought by a coronavirus vaccine bolstered investors’ sentiment. Australian shares recorded a 0.29% jump during their early trade. Futures for Japan’s benchmark index Nikkei dropped, while Hong Kong’s Hang Seng index futures saw a […]
The dollar dropped on Wednesday as optimism about a coronavirus vaccine was overpowered by concerns about its delivery and by a spike in U.S. coronavirus cases. Optimism about the coronavirus vaccine boosted the dollar against the yen and the Swiss franc, but the momentum soon faded. The dollar index fell to 92.633. The dollar dropped […]
China’s automobile sales recorded a 12.5% increase in the year ended October. The jump marked the automobile sector’s seventh consecutive month of gains as the world’s largest vehicle market tops the global industry in recovering from the coronavirus drag. After Toyota and Honda monitored a surge in sales in China, both automobile manufacturers had increased […]
Job openings in the United States expanded below expectations in September. Meanwhile, hiring was as subdued, indicating that the labor market was struggling even before fresh coronavirus cases reemerged. Even though layoffs reached record lows in nearly two decades, the Labor Department’s monthly Job Openings and Labor Turnover Survey revealed that more than one person […]
On Friday, Toyota Motor Corp (7203.T) and Honda Motor Corp (7267.T) announced that they had doubled their operating profit forecasts in light of the recovering car demand in China as it rebounds from the coronavirus outbreak. “If you compare our second quarter with the first, you can see a dramatic recovery,” Toyota’s Operating Officer Kenta […]
On Thursday, Siemens Gamesa Renewable Energy (SGREN.MC) announced that it expects a steady increase in margins in 2023. The wind turbine maker posted a net loss worth 918 Million Euros ($1.08 billion). Siemens Gamesa said that its financial performance was severely affected by the continuing slowdown in the Indian market and cost overruns associated with […]
On Monday, Twitter’s (TWTR) board of directors announced that they support Chief Executive Officer Jack Dorsey on his new plans about the firm’s “current structure.” “The committee expressed its confidence in management and recommended that the current structure remains in place,” the board stated in a regulatory filing. According to the company’s statement, Twitter’s “significantly […]
On Thursday, France’s LVMH Moet Hennessy Louis Vuitton SE (MC.PA) announced that it would pay slightly less to acquire Tiffany & Co (TIF). The French multinational corporation said that both companies agreed to end a bitter dispute triggered by the coronavirus pandemic and finally close the luxury sector’s biggest-ever deal. “We are as convinced as […]
On Thursday, AirAsia X Berhad (AAX) announced its plans to drop a local airport operator from its restructuring plan debt worth $15.3 billion. According to Malaysia’s budget airline, the move was made to expedite discussions with creditors as its cash funds are running out fast. “Everyone in the aviation industry is affected now. It’s unreasonable […]
On Wednesday, Ericsson (ERICb.ST) reported that the telecommunications company had been selected by BT Group (BT.L) to supply 5G radio equipment in London, Edinburgh, Belfast, Cardiff, and other major cities in the United Kingdom. In July, the British government announced that it would ban Huawei Technologies (002502) in the UK until the end of 2027. […]
On Wednesday, AES Corporation (AES.N) said that it would sign an agreement with PetroVietnam Gas (GAS.HM) to develop a liquefied natural gas (LNG) import terminal worth $2.8 billion and another power plant located in Vietnam. AES stated that Vietnam started building multiple LNG-to-power plants which will be operational in 2023. “Vietnam has given the green […]
On Wednesday, Italy’s antitrust authority reported that it would investigate Alphabet’s Google (GOOGL.O) for alleged abuse of its Italian online display advertising market. Google Italy’s revenue from its online advertising market was worth 3.3 billion Euros in 2019. It also includes display advertising such as banner ads and other advertising formats. “The absence of competition […]
The euro dropped against the dollar on Wednesday after reports that France’s government was considering a national lockdown to control a resurgence of coronavirus infections. The dollar nursed losses against the yen on bearish sentiment amid uncertainties about the result of the upcoming U.S. presidential election. It dropped to a near one-month low of 104.23 […]
The dollar nursed losses against most currencies on Tuesday as strong regional economic data offset fears about a second coronavirus wave in the United States and Europe. Profits at Chinese industrial firms rose for a fifth consecutive month in September, while the South Korean economy drastically improved. This development boosted the yuan and lifted the […]
On Monday, Charles Schwab Corp. (SCHW.N) announced that it would start laying off 1,000 job positions in its combined workforce with TD Ameritrade Holding (AMTD). The American multinational financial services company said that the move was made to streamline and reshape its branch networks in the United States. “These reductions are part of our efforts […]
On Monday, Twilio Inc (TWLO.N) posted its surprise third-quarter revenue and forecast sales estimates for the fourth quarter. The American cloud communications service company said that its cloud services became in demand as firms switched to remote working and learning amid the coronavirus outbreak. According to the IBES data from Refinitiv, Twilio’s net profit went […]
On Tuesday, Ant Group announced that it will close its Hong Kong-based institutional order books for its initial public offering (IPO). The world’s highest-valued financial technology company said that the move was made ahead of schedule due to strong public demand. Ant Group also stated that its Hong Kong listing’s institutional book worth $17.2 billion […]
European stock markets traded higher on Friday despite revitalized lockdown measures in Europe. Germany’s DAX gained 0.9% at 3:50 AM ET (0750 GMT), while France’s CAC 40 rose 1.1%. The U.K.’s FTSE index traded 1.1% higher. Germany’s private sector activity posted a four-month growth to October, according to Markit’s flash composite Purchasing Managers’ Index. Meanwhile, […]
Half of small and medium-sized companies that provide nearly ⅔ of European jobs fear for their survival in the coming year, according to a survey by management consultancy McKinsey. The survey was done in August, before the second wave of coronavirus prompted a new set of restrictions on economic and social activity. The results came […]
A weak dollar, increasing risks of inflation, and demand driven by stimulus from major central banks will lead to a bull market for commodities in 2021, according to Goldman Sachs. The bank forecast the S&P/Goldman Sachs Commodity Index to produce a 28% return over a 12-month period. Precious metals are expected to produce a return […]
On Wednesday, Chipotle Mexican Grill Inc. (CMG.N) reported that its quarterly revenue went down by almost 18.6%. The American fast-food restaurant said that the company shouldered higher beef prices and overpriced delivery costs amid the coronavirus pandemic. According to IBES data from Refinitiv, the company’s sales climbed by 8.3% beating Wall Street’s expectations of a […]
China’s fiscal revenues grew 4.7% in the third quarter year-on-year, reversing its 7.4% loss from the previous quarter as the country continued to recover at a quicker pace from the COVID-19 pandemic, the finance ministry said on Wednesday. China’s economy from July to September grew 4.9% year-on-year, still under expectations. However, its pace was faster […]
European stock markets opened slightly lower on Tuesday, weighed down by fading hopes that U.S. lawmakers would reach meet the Tuesday deadline for a U.S. stimulus package, and the tightening of lockdown measures in Europe. DAX futures in Germany slipped by 0.1% at 2:05 AM ET (0605 GMT). Meanwhile, CAC futures in France lost 0.7%, while […]
Asian stocks fell on Tuesday as investors cut down their risk exposure ahead of the U.S. election and as a deadline for the U.S. stimulus package neared. Caution among investors grew as global coronavirus cases rose, with Europe posting record daily new infections. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.11% after U.S. […]
Asian share markets shed initial earnings, recording a weak performance on Friday. This could be attributed to investors’ subdued sentiment as the United States and Europe monitored an upsurge of fresh coronavirus infections. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.22% decline. U.S. stock futures dropped 0.12%, while China shares advanced during […]
Gold prices fell earlier on Thursday in Asia as the Dollar continued to gain strength amid fading hopes of a U.S. COVID-19 stimulus package before the November 3 presidential elections. Gold futures slipped by 0.30%, trading at $1,901.55 per ounce at 11:58 PM ET (3:58 AM GMT). The Dollar saw gains in morning trade, buoyed […]
Oil prices climbed in early Tuesday trade, adding to 2% gains overnight after data showed U.S. crude inventories dropped last week. U.S. West Texas Intermediate crude futures rose 0.1%, or 4 cents, at $41.08 per barrel. Brent crude futures gained 0.1%, or 5 cents, at $43.37 per barrel. Oil markets rose for a third day […]
Oil prices fell on Wednesday on fears that fuel demand will continue to decline as rising COVID-19 cases in the United States and Europe could stall economic growth. OPEC expects oil demand to increase by 6.54 million bpd to 96.84 million bpd in 2021, 80,000 bpd less than initially forecasted. Brent crude futures for December […]
Singapore’s economy declined in the third quarter from a year ago. The drop came lower than what was initially predicted, preliminary data showed on Wednesday. On an annual basis, gross domestic product (GDP) recorded a 7% contraction from July to September. The reading released by the Ministry of Trade and Industry came sharper than the […]
The dollar stood at three-week lows on Tuesday as investors pin hopes on a big U.S. stimulus package after the presidential election, boosting risk currencies. The dollar index stood at 93.036, right above Friday’s near-three-week low of 92.997. The euro bought $1.1841 after gaining 0.6% on Monday. A Biden win in the U.S. presidency is […]
Oil prices fell for a second session on Monday as U.S. producers resumed production in The Gulf after Hurricane Delta’s passage. Meanwhile, a strike in Norway that threatened to cut production has ended. Brent crude for December delivery slid 1.3%, or 55 cents, at $42.30 per barrel. U.S. West Texas Intermediate for November contract fell […]
Gold prices rose earlier on Monday in Asian trading after investors flocked to the safe-haven asset amid a strengthening Dollar strengthened and the stalling of talks over the latest U.S. stimulus measures. Gold futures gained 0.37%, trading at $1933.35 per ounce at 12:08 AM ET (4:08 AM GMT), its highest since September 21, which traded […]
Japan’s household spending recorded eleven consecutive months of decline ended August. Meanwhile, real wages had dropped for six straight months as consumers are still anxious to return to their pre-pandemic purchasing practices. Household spending recorded a 6.9% contraction in August from a year ago, government data showed on Friday. The figure came parallel with a […]
Asian shares recorded a 2-1/2-year peak on Friday. This followed after investors’ sentiment grew on U.S. stimulus talks, deviating their focus from weak employment data. Meanwhile, financial markets in mainland China advanced after a week-long holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.15% gain. The index is currently heading toward its […]
The dollar fell on Friday and on course for a second week of losses as investors increased bets on Joe Biden winning the U.S. presidency and offering stimulus aid after the elections. Wall Street Bankers forecast a stimulus package whichever candidate wins, but they are expecting a much bigger one if Biden takes the presidency. […]
On Friday, London Stock Exchange (LSE.L) reported that it had accepted a 4.33 billion Euros ($5.09 billion) cash offer by Euronext (ENX.PA ) to acquire Italy’s only stock exchange Borsa Italiana. In September, Euronext and LSE started to discuss the acquisition deal after the largest stock exchange in Europe saw a trade competition between Deutsche […]
The dollar and the safe-haven yen fell on Thursday after hopes for a U.S. stimulus improved sentiment. Meanwhile, the possibility of negative rates weighed on the kiwi. The Japanese yen plunged to a three-week low of 106.11. The dollar fell against other currencies except the kiwi. The euro rose to $1.1770, while the risk-sensitive Aussie […]
Oil prices rose on Thursday as oil-refinery workers evacuated rigs in the U.S. Gulf ahead of Hurricane Delta. However, fuel demand worries persisted amid fading hopes for a U.S. stimulus and a build in crude stocks. Brent crude futures gained 0.2%, or 9 cents, at $42.08 per barrel after sliding 1.6% on Wednesday. West Texas […]
Asian share markets had seen a one-month high on Thursday. This followed after investors’ sentiment grew on encouraging reports about stimulus in the United States, with markets now pricing in a Democratic victory for the upcoming presidential election in November. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.3%. The index had tallied its […]
Oil prices slid on Wednesday after U.S. President Donald Trump quenched hopes for another stimulus package to support the economy and on a bigger-than-expected rise in U.S. crude stocks. U.S. West Texas Intermediate crude oil futures dropped 2%, or 81 cents, at $39.86 per barrel. Brent crude futures lost 1.6%, or 70 cents, at $41.95 […]
The dollar index slid on Monday but was little changed from Friday’s close as investors awaited news on Donald Trump’s health and progress on coronavirus stimulus aid talks in Washington. On Friday, U.S. President Donald Trump said he tested positive for COVID-19, prompting a safe-haven bid and a stock market sell-off. The dollar index was […]
European stocks gained on Monday, following upbeat global mood after positive updates on U.S. President Donald Trump’s health. The pan-European STOXX 600 index traded 0.6% higher, continuing last week’s near-2% gain. Sectors including travel and leisure, banks, and automakers also saw a climb. Oil and gas also saw a climb with major oil producers such […]
Stock markets eased earlier on Monday over news that President Donald Trump could be discharged from hospital later in the day. Trump was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday. The news boosted U.S. S&P […]
Gold ended its retreat after President Donald Trump announced early Friday that he and First Lady Melania Trump had tested positive for COVID-19, roiling global assets and lifting the Dollar. Trump wrote on Twitter that he and the first lady would “begin our quarantine process,” just after one of his closest aides, Hope Hicks, had […]
A hardware failure suspended the Tokyo Stock Exchange (TSE) earlier on Thursday in the worst outage ever suffered by the world’s third-largest stock market. The TSE said the outage was the result of a hardware problem at its “Arrowhead” trading system, and a subsequent failure to switch over to a backup device. The hit raised […]
The Dow halted from its rout on Tuesday but still remained in negative territory as poor data in energy and financials weighed on investor sentiment amid the resurgence of COVID-19 cases. The Dow Jones Industrial Average fell 0.18% (48 points). Meanwhile, the S&P 500 was down 0.13%, while the Nasdaq Composite added 0.02%. Energy shares took a […]
Gold prices rose on Tuesday, continuing gains from the previous session and returning to the key $1,900 level after the Dollar and equity markets slumped ahead of the U.S. presidential debate. U.S. gold futures for delivery on December rose by 1.1% ($20), last trading at $1,903.20 per ounce on New York’s Comex. The benchmark gold […]
The dollar climbed in the European session on Wednesday, recovering losses after a two-day slide as traders evaluated a debate between U.S. President Donald Trump and Democratic challenger Joe Biden. The dollar index rose above the 94-mark following two days of losses, which came after the greenback hit a two-month high last week. European stocks […]
On Tuesday, Walt Disney Co. (DIS) announced that it would furlough 28,000 employees located at its United States theme parks. The mass media and entertainment company said that its establishments in California would be closed due to the coronavirus pandemic. “We have made the very difficult decision to begin the process of reducing our workforce […]
Asian share markets declined, while the dollar performed turbulently on Wednesday. This came after investors’ sentiment was dampened ahead of the first U.S. presidential debate, with markets closely weighing both parties. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% decline. The index is set to finish 3.3% lower this month, the sharpest […]
On Tuesday, Walmart Inc (WMT.N) said that it is in talks with Tata Group for a potential investment worth $25 billion. The Indian multinational conglomerate holding company said that Walmart’s investment would be used to fund Tata’s new “super app.” Tata Group said that the app was scheduled to be launched in India in December […]
Gold prices were seen climbing above 1%, finally breaking from record lows on Monday, as the dollar slipped from its two-month high perch. Gold had gone through a record low in six months last week, slumping by almost 5% after the Dollar took the spotlight as investors flocked to the Greenback amid the latest round […]
Big Hit Entertainment, the management label of hugely popular South Korean K-Pop band BTS, announced on Monday that it would price its upcoming initial public offering (IPO) at 135,000 Won ($114.99) per share. The company stated that its IPO price would be South Korea’s largest listing in three years. “Big Hit is classified as a […]
Oil prices remained unchanged earlier on Friday but is expected for a weekly fall over concerns that a global resurgence of COVID-19 infections could hit fuel demand, with Libya also returning to add to the supply. Brent crude fell by 2 cents, exchanging hands at $41.92 per barrel at 0113 GMT (0913 PM ET), while […]
Gold continued its descent earlier on Wednesday as the Dollar carried on with its rally. Spot gold, which reflects real-time trades in bullion lost 2.1% ($39.64), trading at $1,860.62 per ounce by 3:12 PM ET (1512 GMT). It dipped to a record low of $1,856, its worst in two months. U.S. gold futures for the […]
Oil futures slid on Thursday on fears that U.S. economic recovery is stalling as the coronavirus crisis lingers and a resurgence in European infections prompted new travel restrictions. Market worries prompted a rally in the dollar as investors turned to safety, adding pressure to oil prices. U.S. West Texas Intermediate crude futures slid 0.9%, or […]
On Wednesday, JPMorgan Chase & Co. (JPM) reported that it needs to spend at least $1 billion to resolve U.S. government investigations into the alleged market manipulation of metal stocks and Treasury markets. The New York-based investment banking company said that it was in discussions with U.S. authorities to resolve the investigations. According to JPMorgan, […]
On Tuesday, Tesla’s (TSLA) principal stockholders and investors cut $50 billion from its market value despite CEO Elon Musk’s promise to reduce electric vehicle costs. According to Tesla’s Senior Vice-President of Powertrain and Energy Engineering Drew Baglino, the automaker plans to produce its new cells via a highly automated and continuous-motion assembly process at its […]
The dollar held on to sharp gains on Tuesday after coronavirus fears and worries about delays in U.S. stimulus prompted a sell-off in almost all the financial markets. The dollar stood at 93.519 against a basket of currencies, just below a six-week peak hit on Monday. The safe-haven yen rose to 104.57 on the dollar […]
Oil prices gained in early Tuesday trade, recovering from overnight losses as the latest tropical storm in the Gulf of Mexico weakened. Still, worries about fuel demand remained as global coronavirus cases surged. Brent crude futures climbed 0.3%, or 14 cents, at $41.58 per barrel. U.S. West Texas Intermediate crude futures for October delivery rose […]
European stock markets fell substantially low earlier on Friday as uncertainties of the progress of a global economic recovery continued to weigh in. CAC futures in France traded 0.2% lower at 2:10 AM ET (0610) GMT), while FTSE futures in the U.K. lost 0.7%. However, Germany’s DAX futures inched up by 0.1%. Europe’s economic data […]
The Dow hovered off of lows on Thursday after the tech sector retook some lost ground. However, it still remained deep in negative territory as market sentiment dampened due to bleak economic data and signs of slowdown in global recovery from the COVID-19 pandemic. The Dow Jones Industrial Average lost 0.63% (177 points), with the […]
On Thursday, United Parcel Service Inc.’s (UPS.N) Chief Executive Officer Carol Tomé announced that the company plans to propose buyouts to management employees to curb production costs. The American multinational package delivery company said that it would present the buyouts to qualifying management in non-operation roles on Friday. According to a reliable source, employees would […]
European stocks traded lower earlier on Thursday after investor sentiment dampened due to the U.S. Federal Reserve’s recent decision to not add further stimulus packages. Germany’s DAX futures lost 0.7% at 2:05 AM ET (0605 GMT), while France’s CAC futures fell by 0.6%. FTSE futures in the U.K. lost 1.2%. In conclusion to its two-day […]
The dollar rebounded across the board on Thursday, reporting its biggest daily gain in over a week as the Federal Reserve’s decision to keep interest rates on hold in the coming weeks prompted a wave of short positions for the greenback. Still, the Fed’s decision disappointed some investors who had bet on a more dovish […]
Oil prices slid on Thursday following two straight days of gains. This came after worries about fuel demand were reinforced by reopening production in the U.S. Gulf following Hurricane Sally’s passage. Brent crude futures dropped 0.8%, or 36 cents, at $41.86 per barrel after rising 4.2% on Wednesday. U.S. West Texas Intermediate crude futures fell […]
European stock markets opened slightly lower on Wednesday, as investors cautiously await the Federal Reserve policy decision. Germany’s DAX futures fell by 0.1% at 02:05 AM ET (06:05 AM GMT), while France’s CAC futures lost 0.3%. Meanwhile, FTSE futures in the UK lost 1.1%, reversing gains from Tuesday’s session. The U.S. Federal Reserve’s two-day policy […]
On Wednesday, Alibaba Group Holding Ltd. (BABA.N) announced its plan to establish a pilot factory in the eastern Chinese city of Hangzhou. The e-commerce company said that the move was a part of its “smart manufacturing” business initiative. Alibaba said in a statement that the factory would primarily work with apparel companies. Its internal division […]
Majority of Asian shares recorded a well-ended session on Wednesday. This came after upbeat Chinese and U.S. economic data prompted a rally the previous day. However, the dollar, U.S. yields, and gold remained stagnant ahead of the Federal Reserve’s policy meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.5% gain. Australian shares […]
The British pound clung to a 1 ½-month low on the dollar on Monday amid fears of a possible no-deal Brexit, while investors in the yen waited for Japan to appoint a new prime minister. The pound traded at 1.2806 after hitting a 1 ½-month low of 1.2767 on the dollar. Against the euro, it […]
The dollar was on course for its first back-to-back weekly gains since May on Friday as investors turned to safer assets. Meanwhile, the pound was on track towards its worst week since March amid fears about the EU-UK Brexit negotiations. The dollar was broadly steady in Asian trade. Against a basket of currencies, the greenback […]
Gold remained mostly unchanged earlier on Thursday in Asia after it raked in substantial gains overnight amid a drop in the Dollar and stock market uncertainties. Gold futures gained 0.06%, trading at $1,956 per ounce at 12:05 Am ET (05:05 AM GMT). The yellow metal rose from a low of $1,927.20 to an overnight high […]
Thursday marked Asian stock markets’ recovery from their longest decline since February. Asian shares tracked Wall Street’s upbeat performance, but currencies, commodities, and bond markets remained subdued, underscoring investors’ dampened sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan earned half a percent, recovering from its one-month low recorded on Wednesday. Japan’s benchmark index Nikkei […]
On Wednesday, Tiffany & Co (TIF.N) reported that it would sue the world’s largest luxury goods group LVMH Moët Hennessy Louis Vuitton (LVMH.PA) after pulling out from its $16 billion acquisition deal. According to LVMH’s Chairman and Chief Executive Officer Bernard Arnault, the board of directors received a highly unusual request from the Ministry of […]
European stock markets were up slightly earlier on Tuesday ahead of the European Central Bank’s (ECB) policy meeting expected on Thursday. Germany’s DAX futures were up by 0.2% at 02:05 AM ET (0605 GMT), while France’s CAC futures inched up by 0.3%. In the UK, FTSE contracts were seen rising by 0.4%. Investors are eyeing […]
The dollar steadied against its peers on Friday as investors await key U.S. jobs data to get clues about the strength of U.S. economic recovery from the pandemic. The dollar managed to stop its recent slip, but analysts warned against the dominating weak sentiment for the greenback amid doubts on U.S. economic growth and lower […]
The month of August yielded declining job growth figures in the United States as financial assistance from the government was all used up after six months of battling the coronavirus crisis. The economy’s recovery is now feared to be halted. The U.S. Labor Department’s released employment report on Friday nailed the expectations of low turnout […]
Oil prices rose on Thursday but stayed near multi-week lows hit overnight after U.S. gasoline demand fell and economic recovery from the COVID-19 crisis lagged. U.S. West Texas Intermediate crude futures rose 0.22%, or 9 cents, at $41.60 per barrel. Brent crude climbed 0.05%, or 2 cents, at $44.45 per barrel. Both benchmarks fell over […]
Iraq is looking to be exempted from an OPEC+ deal which plans to curb oil production for the first quarter of 2021. However, the country will adhere to the cuts for the next three months, according to Oil Minister Ihsan Abdul Jabbar on Wednesday. Abdul Jabbar said on August that Iraq had agreed to cut […]
Gold prices traded lower earlier on Wednesday in Asia after the Dollar was unexpectedly bolstered by optimistic U.S. data. Gold futures fell by 0.35%, trading at $1,972 by 12:25 PM ET (05:25 GMT), while the U.S. Dollar index gained 0.03% to 92.365. Gold prices slumped below the $1,980 benchmark after it traded slightly higher on […]
On Wednesday, Flipkart announced that it would launch an online wholesale service for Kirana stores and other small businesses in India. The Walmart-owned company (WMT) said that it plans to compete with Amazon (AMZN) and other retail giants in the e-commerce market. Flipkart said that the “Flipkart Wholesale” smartphone app would be available in the […]
Crude oil futures extended gains on Wednesday amid a larger-than-expected drop in U.S. crude inventories and a stronger U.S. and Chinese factory activity. The news boosted optimism in fuel demand recovery and lifted risk appetite in the market. Brent crude futures climbed 45 cents to $46.03 per barrel. U.S. West Texas Intermediate futures were up […]
On Friday, Coca-Cola Co (KO.N) announced that it would cut its operating units and offer voluntary separation to its 4,000 employees in the United States as the world’s largest beverage maker suffers a decline in sales growth due to the coronavirus pandemic. The American multinational beverage corporation stated that it would have nine operating units […]
The dollar hit a two-week peak on the yen on Friday, lifted by U.S. bond yields, which rose on the Fed’s aggressive new strategy to increase employment and boost inflation. Investors are also awaiting Japanese Prime Minister Shinzo Abe’s briefing later in the day as worries about his health raised concerns about economic relations with […]
Oil prices dropped on Friday as a massive hurricane hit key U.S. oil production in Louisiana and Texas without causing widespread damage to the facilities. U.S. West Texas Intermediate crude futures fell 0.1%, or 3 cents, at $43.01 per barrel. WTI is on course for a 1.6% climb this week, on its fourth straight week […]
U.S. stocks were expected to fall on Thursday ahead of a key speech from Federal Reserve Chairman Jerome Powell later in the day. S&P 500 futures fell by 0.2%, trading 7 points lower, while Dow futures lost 0.3%, with contacts trading at 80 points at 7:10 AM ET (11:10 GMT). The Nasdaq Composite index gained […]
TikTok’s Chief Executive Officer Kevin Mayer announced that he would leave the company after three months amid ongoing disputes with the Trump administration. According to the Chinese-owned video app, U.S. General Manager Vanessa Pappas would replace Mayer on an interim basis. “In recent weeks, as the political environment has sharply changed, I have done significant […]
Gold prices saw its fourth consecutive slump in five days before trimming losses later on Tuesday amid a strengthening Dollar as expectations rose for U.S. Fed Chair Jerome Powell’s speech on Thursday. Gold futures for the December delivery on Comex slipped by 0.8% ($16.10), trading at $1,923.10 per ounce. Comex was up on last week’s […]
Brent crude oil prices gained on Wednesday after U.S. producers shut most of the offshore production in the Gulf of Mexico and U.S.-China trade talks reported progress. Still, gains were capped due to coronavirus worries after Europe and Asia reported COVID-19 reinfections. Brent crude oil futures rose 0.3%, or 12 cents, at $45.98 per barrel. […]
Asian stock markets declined from a two-year peak on Wednesday. The drop could be attributed to investors’ dampened sentiment over a mixed bag of economic data. Meanwhile, oil reached a five-month high as a hurricane ravaged production in the Gulf of Mexico. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% drop. This […]
On Tuesday, Palantir Technologies announced that it would file for a direct listing on public markets. The data analytics company said that it aims to trade on the New York Stock Exchange (NYSE) under the symbol PLTR. Palantir Technologies had been working with the Central Intelligence Agency (CIA) and other government agencies to prepare for […]
Positive risk appetite alongside a weaker dollar compelled oil prices to edge higher. Meanwhile, both Brent and WTI are steady at the upper end of their ranges; no threat of a breakout can be seen. Brent crude is at a resistance around $45.50, the lows of the past weeks of around $43.50 have now been […]
Friday saw Gold Futures gaining 0.03% upon trading within a short-term consolidation that had followed the metal’s plunge below $2,000. The safe-haven asset had actually reversed lower on August 7th, a more optimistic turnout compared to the previous forecast with the release Nonfarm Payrolls alongside other factors. Last Tuesday, the upward correction reached a high […]
The world’s largest firms will slash dividend payouts by 17%-23%, amounting to as much as $400 billion, according to a new report as the COVID-19 pandemic continues to put a dent on the world’s economies. Global dividend payouts have slumped by $108 billion to $382 billion for the second quarter of 2020, according to a […]
August had seen Ireland’s consumer sentiment declining. This followed after the implementation of local virus-related lockdowns and tighter nationwide measures, prompting people to reassess how long the coronavirus-led disruption will persist. The KBC Bank consumer sentiment index was monitored at 58.9 this month, placing lower than the 62.6 reading seen in July. However, the figure […]
Asian shares recorded two consecutive sessions of gains on Monday. This could be attributed to investors’ upbeat sentiment after the U.S. Food & Drug Administration (FDA) authorized the use of blood plasma from recovered patients as an option to cure the coronavirus. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.65%. The index is […]
The euro gained on Friday as the dollar was weighed down by doubts over U.S. economic recovery. This came after U.S. jobs data were reported to be weaker than expected, while the yuan rose to a seven-month peak as investors focused on China’s growth. Euro investors are awaiting the euro zone’s purchasing managers index due […]
Oil prices dropped on Thursday as major producers warned of fuel demand risks if the coronavirus pandemic prolonged, while U.S. crude stocks fell less than expected. Brent crude fell 0.8%, or 36 cents, at $45.01 per barrel. U.S. oil slid 0.9%, or 38 cents, at $42.55 per barrel. U.S. crude inventories fell on its fourth […]
On Thursday, China’s Commerce Ministry said that it would take “all necessary measures” to protect its companies’ legitimate interests in response to United States’ move to tighten its restrictions on Huawei Technologies Co. The Trump administration announced on Monday that it would expand restrictions to prevent the Chinese telecommunications equipment company from obtaining semiconductors without […]
On Wednesday, Target Corp (TGT.N) reported its biggest second-quarter sales growth as it attracted millions of new customers online. The retail company announced that its same-store revenue went up by 80.3% to $1.7 billion. Most consumers purchased videogames, kitchenware, and clothes amid the coronavirus pandemic using Target’s same-day delivery services. According to Institutional Brokers Estimate […]
July had seen a decline in Japanese exports, tallying a double-digit drop for five consecutive months already as the virus crisis ravaged auto shipments to the United States. This dampened hopes for a trade-driven economic recuperation as the country suffers from recession. Core machinery orders surprisingly dropped, hitting a seven-year low in June. Meanwhile, total […]
Gold prices soared above 2% on Monday, briefly taking back its record $2,000 mark in almost a week as a renewed drop in the U.S. Treasury Yield had investors flocking to the safe-haven yellow metal. December gold futures on Comex closed the day gaining a record 2.5% ($48.90) to $1,998.70 per ounce after it reached […]
Oil prices gained on Monday after news that China is planning to ship large volumes of U.S. crude in August and September. The news outweighed concerns over a demand slowdown due to the pandemic and a surge in supply. Brent crude rose 0.7%, or 32 cents, at $45.12 per barrel. U.S West Texas Intermediate crude […]
Asian shares climbed on Monday, placing near their recent highs as Chinese markets advanced. Meanwhile, investors waited if a sell-off in longer-dated U.S. Treasuries would expand and relieve the struggling dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.5% to 565.74. The index closed its session near its 574.52 record seen in January. […]
The dollar steadied on Friday as a rise in U.S. bond yields and a weaker risk sentiment due to gloomy Chinese economic data halted a selldown of the greenback. Chinese retail sales fell against the market’s expectations, while industrial output failed to meet its forecast, showing a bumpy recovery in the world’s second-biggest economy. Against […]
Oil prices rose on Friday, nearing their second week of gains amid growing confidence in fuel demand recovery. Brent crude gained 0.3%, or 14 cents, at $45.10 per barrel. U.S. West Texas Intermediate rose 0.3%, or 12 cents, at $42.36 per barrel. Prices were lifted this week by U.S. government data, which showed crude oil, […]
July had seen China’s retail sales declining from a year ago. Meanwhile, the country’s industrial output placed below expectations amid signs of fragile recovery in the world’s second-largest economy. China’s industrial output recorded a 4.8% jump in July from a year earlier, data from the National Bureau of Statistics showed on Friday. Though it made […]
Asian share markets recorded a well-ended session on Thursday, following Wall Street’s rally. This came after investors’ sentiment was bolstered by encouraging coronavirus figures and a surprising increase in U.S. inflation, prompting them to sell dollars and resort to tech stocks and gold. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.2%. Moreover, gains […]
Crude oil prices slid on Thursday but held most of their gains from the last session after U.S. government data reported a decline in inventories. This supported the market’s view that fuel demand recovery is pushing through despite the pandemic. Brent crude fell 8 cents to $45.35 per barrel after gaining 2% on Wednesday. U.S. […]
Asian share markets recorded a weak session on Wednesday. This was mainly from growing uncertainty over whether or not lawmakers from the United States would approve an additional fiscal stimulus to alleviate the virus-beaten economy. Encouraging news about vaccine development prompted some investors to slash safe-haven assets such as gold and government bonds. In addition […]
On Monday, leaders of major companies in the United States, including banks and technology giants, decided to form a group to increase job hiring from minority communities in New York. The New York Jobs CEO Council consisted of chief executives from 27 different companies. The group would hire 100,000 workers from low-income Black, Latino, and […]
Asian stock markets were seen upbeat on Tuesday. This followed after investors were greatly relieved that growing tensions between China and the United States do not directly impact trade. More so, optimism for U.S. stimulus drove oil and commodity prices up. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1%. Japan’s benchmark index Nikkei […]
The U.S. Dollar was on track to take back lost ground on Monday after it saw a record streak of losses since a decade as the market fell short of the currency. A better-than-expected payrolls report on Friday gave the Dollar a much-needed boost, pushing U.S. Treasury yields higher into this week’s massive $112 billion […]
On Friday, British Airways announced that it would slash its workforce of roughly 12,000 jobs to survive a collapse in travel demand as a result of the coronavirus pandemic. According to the airline company, more than 6,000 workers decided to take voluntary redundancy. The International Airlines Group (ICAG.L), which owns the British Airways, said that […]
On Thursday, the Intercontinental Exchange Inc. (ICE.N) (ICE) announced that it would acquire mortgage-software company Ellie Mae (ELLI) from private equity firm Thoma Bravo LLC. in a purchase deal worth $11 billion including debt. ICE is also the company that owns the New York Stock Exchange (NYSE). The financial market company said that it expects […]
Early Friday saw Oversea-Chinese Banking Corp OCBC, the second-largest lender hailing from Singapore reporting a 40% drop in its second quarter net profit. The report came as a surprise as it had been larger than the lending entity’s initial forecast. The bank disclosed that the drop is owed from the loan-loss provisions in a market […]
The dollar stayed weak on Wednesday as the U.S. coronavirus stimulus package stalled in Congress and U.S. bond yields dropped, while investors awaited possible monetary easing to support the economy. The Democrats in Congress and White House negotiators are still trying to reach a deal on the coronavirus package, but Treasury Secretary Mnuchin said that […]
July had seen China’s services sector growing at a relatively slower speed. The sector expanded slower than its decade-high record in June due to struggling new export businesses and surging unemployment, an industry poll showed on Wednesday The Caixin/ Markit services Purchasing Managers’ Index (PMI) was monitored at 54.1 last month. This placed lower than […]
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s rise came after Japan’s economy is bottoming out from its steepest decline, with the government considering restarting the economy while preventing a second […]
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company’s standalone listing in Hong Kong or Shanghai might value its China businesses to more than $100 billion. According to a reliable source, ByteDance would research more options […]
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September delivery fell 7 cents to $43.68 per barrel. U.S. West Texas Intermediate crude […]
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the first quarter’s 14.41%, the highest since 2018. According to a Reuters’ poll, economists forecast Spain’s unemployment rate may reach as high […]
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic is gaining momentum. The country’s industrial profits recorded an 11.5% year-on-year increase in June, the statistics bureau said on […]
Wall Street recorded a sharp decline on Thursday. This followed after investors fled market-leading technology shares due to mixed earnings reports and pieces of evidence of a worsening virus crisis, increasing the possibility of a sharp economic downturn. All three major U.S. stock indexes lost footing. The S&P 500 declined 1.23%, while the Dow Jones […]
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors about raising $1 billion at $270 per share. SpaceX said that it aims to make […]
China’s diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and 2.07 million tons in May and June last year respectively, data from the General Administration […]
The second quarter had seen South Korea slipping into recession. This came to be the country’s sharpest economic downturn in more than two decades as the novel coronavirus crisis weighed on exports and social distancing measures halted factory activities. Asia’s fourth-biggest economy declined a seasonally adjusted 3.3% last quarter from three months earlier, the Bank […]
On Tuesday, Snap Inc.’s (SNAP.N) stock price declined by more than 11% in after-hours trading as investors digested the company’s user and revenue growth after its second-quarter earnings report. The social media company reported 238 Million daily active users that represent 17% growth and a slight miss from Wall Street’s consensus of 238.5 Million. “The […]
Japan’s industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While the significantly small uptick in factory data may not necessarily indicate a full economic recovery ahead, […]
Australian retail sales advanced 2.4% in June. This came as an upbeat figure following a 16.5% increase seen in May as the land down under resumed its economic operations from coronavirus-related lockdowns. The country’s retail sales were estimated to have reached a total of A$29.7 billion ($21.19 billion) in June, recording a total of 8.2% […]
Gold prices rose earlier on Tuesday morning in Asia on the back of renewed hope as the U.S. and the Europe pledged on additional stimulus packages. In the U.S., another round of stimulus measures is underway in Congress, as previous stimulus plans reach their expiry date in July. In the E.U., leaders have reached upon […]
Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions rushed to counter the worst health crisis in a century. Brent futures gained 0.4%, or 15 cents, at […]
Gold prices traded lower in Asia on Friday morning amid hopes for COVID-19 vaccines from the U.S. and U.K. bolstered investor appetite. Sentiment was further boosted with the European Central Bank (ECB) signaling that it may leave interest rates and stimulus unchanged in the near future. Gold futures slipped by 0.12% to $1,798.15 per ounce […]
The dollar firmed against its peers as concerns that a resurgence of the coronavirus will restrict economic activity lifted the safe-haven demand for the U.S. currency. The yuan suffered declines in the past three weeks as the diplomatic tensions between the United States and China worsened. The euro was supported by hopes that EU officials […]
European stocks sold lower earlier on Thursday as concerns mounted over the pace of a global economic recovery ahead of latest meeting from the European Central Bank (ECB). Germany’s DAX futures fell by 0.5% at 2:05 AM ET (0605 GMT), while FTSE futures in the UK dipped by 0.4%. In France, CAC futures sold 0.4% […]
European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were down by 24.1% when compared to a year ago, with new registrations reaching around 1,131,843 vehicles in countries located […]
Asian share markets advanced on Wednesday as growing hopes about a coronavirus vaccine supported risk appetite. Meanwhile, the euro reached its four-month peak backed by the prospect of stimulus ahead of a crucial EU meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan soared 1.2% as it approached a recent five-month high record. Japan’s benchmark […]
July had seen Australia’s consumer sentiment declining. This was mainly from the reimplementation of coronavirus-related lockdowns in the country’s second-largest city, completely dragging consumers’ confidence after two months of gain. The Westpac-Melbourne Institute index of consumer sentiment dropped a total of 6.1% in July. This followed after the index recorded a 6.3% increase in […]
Alibaba Group Holding Ltd’s (BABA) co-founder Jack Ma sold $8.2 billion worth of shares, reducing his stake in the company over the past year from 6.2% to 4.8%. The Chinese e-commerce company released its annual report on Friday. The divestment came in September 2019 when Jack Ma stepped down as Alibaba’s executive chairman to focus […]
Asian shares advanced on Monday backed by investors’ confidence over U.S. earnings. Investors heavily anticipate a prosperous earnings season, with most companies expected to surpass forecasts now that outlooks had been lowered by COVID-19 lockdowns. MSCI’s broadest index of Asia-Pacific shares outside Japan rallied with a 0.15% gain. This followed after a five-month high record […]
Oil prices fell on Friday, continuing steep losses from the previous session as concerns piled over a record surge in COVID-19 cases across the U.S., driving the black liquid for weekly declines. Brent crude futures dipped by 0.6% (25 cents) on Friday, trading at $42.10 per barrel at 0341 GMT after it plunged more than […]
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company’s first quarterly sales rose in the world’s biggest auto market in nearly three years. A total of 158,589 vehicles were sold during […]
Levi Strauss & Co (LEVI.N) expects that its business would lose footing in the second half of the year. The company deemed it possible even as its sales were seen recovering at its reopened stores, following virus-related lockdowns imposed by the government. The denim apparel maker also said that it would slash 700 jobs in […]
On Monday, United Airlines (UAL.O) announced that it would continue adding more flights for international routes in September. The airline company plans to reintroduce flights that were canceled due to coronavirus pandemic. United Airlines would have flight services between Chicago and Hong Kong, Los Angeles and Sydney, and new non-stop flights between Chicago and Tel […]
June had seen Philippine inflation advancing faster than what was initially thought. This followed after one of the world’s longest coronavirus lockdowns was lifted. Moreover, food, fuel prices, and the transport index were seen at higher levels as the country resumed its economic activity. The consumer price index soared 2.5% in June from a year […]
On Monday, Fujitsu Ltd. (6702.T) announced that it would halve its office space in Japan by March 2023 as it pushes for its 80,000 employees to work remotely amid the coronavirus outbreak. The IT solutions company said that its employees would be working from home and would be under flexible hours. “We will overhaul our […]
Taiwan’s exports for June has been forecasted to have dropped by 3% in contrast to a year earlier, according to a median forecast of 13 analysts polled by Reuters. The results are based on the uncertainties of the COVID-19 pandemic as it continues to disrupt global demand for the island nation’s electronics exports. Taiwan is […]
On Thursday, Boeing Co (BA.N) announced that the company is pulling the plug on its hulking 747 jumbo jets, ending a half-century run for the twin-aisle pioneer. According to the aerospace company, the last 747 jumbo jets would roll out from its Seattle area factory in the next two years. “At a build rate of […]
U.S. stock index futures rose on Thursday, ahead of the much-awaited jobs report that could signal further evidence of an economic rebound in June. However, gains remained limited by the record surge in daily COVID-19 cases. Dow e-minis gained 0.92% (235 points) at 6:39 AM ET, while S&P 500 e-minis jumped by 0.62% (19.25 points). NASDAQ e-minis gained […]
Oil prices bounced on Thursday as a steep decline in oil inventories outweighed concerns that a surge in new coronavirus cases in the U.S. could stall demand recovery. Brent crude futures rose 0.6%, or 25 cents, at $42.28 per barrel. U.S. West Texas Intermediate crude futures gained 0.6%, or 25 cents, at $40.07 per barrel. […]
The dollar fell to a one-week low on Thursday as positive data on U.S. and European recovery lifted risk appetite, adding to the support provided by the latest breakthrough in the COVID-19 vaccine. The dollar index dropped 0.4%. However, it could trade up or down depending on the U.S. jobs data due later today. Data […]
Japan’s factory activity for June contracted for its 14th straight month amid sharp reductions in supply and demand, according to data from a business survey released on Wednesday. Japan is one of many export-reliant nations that have been severely affected by the COVID-19 pandemic where lockdown measures disrupted supply chains and urged consumers to remain […]
Asia’s manufacturing pain stopped pressing in June. This followed after China’s factory sector recovered, boosting optimism that the region has survived the worst of the novel coronavirus crisis. China’s Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) was monitored at 51.2 in June, placing higher than May’s record of 50.7. More so, Vietnam and Malaysia’s PMIs also […]
The dollar firmed against the Japanese yen on Wednesday ahead of the release of U.S. manufacturing data expected to show a recovery from the pandemic. The euro traded in a narrow range as traders waited for data on Germany’s manufacturing sector, unemployment rate, and retail sales. The dollar stood at 107.83 on the yen, nearing […]
Safe-haven currencies were on the defensive on Tuesday as hopes of an economic recovery strengthened stock prices. The Pound Sterling was under pressure after British Prime Minister Boris Johnson pledged a “Rooseveltian” boost to public spending. Fresh optimism was spurred by pending home sales data from the U.S., signaling a recovery of the U.S. economy […]
The European aviation Airbus (AIR.PA) announced on Monday that its airplane production and deliveries would be 40% lower for the next two years compared to its planned pre-crisis strategy. The CEO’s comments underscore the threat to jobs as it draws up rapid restructuring plans because of the global travel slump. “It’s a brutal fact, but […]
On Monday, Japanese car manufacturers reported a 38% decline in their global sales last month. Most car factories and dealerships remained closed due to the coronavirus outbreak. Japan’s biggest car manufacturer Toyota Motor Corp. (7203.T) just sold 609,460 vehicles last month. Nissan Motor Co’s (7201.T) sales fell by 37.3% or 272,873 units while Honda Motor […]
Gold prices last traded closer toward $1,800 per ounce, making it the highest level reached since late 2011 as demand for the yellow metal surged amid worries over the growing COVID-19 cases worldwide. According to data from Johns Hopkins University, virus-related deaths have reached over 500,000 worldwide with the number of confirmed cases exceeding almost […]
The dollar firmed on Friday as investors cautioned against a surge in new coronavirus cases amid re-opening economies, strengthening the demand for safe-haven currencies. The dollar index traded at 97.360. The dollar rose 0.5% overnight to 107.09 on the yen. The euro slid to $1.1223, while the pound fell to $1.2422. Also supporting the dollar […]
The Federal Reserve’s balance sheet shrank for the second time in two weeks as central banks reduced their use of currency swaps while US banks continued to cut their use of Fed repurchase agreements. From $7.14 trillion a week earlier, Fed’s balance sheet deflated to $7.13 trillion on June 24 as reflected by the data […]
The dollar firmed on Thursday as a surge in coronavirus cases in the United States and new trade tensions prompted investors to a risk-off sentiment. The dollar index rose 0.1% to 97.27. The euro fell to 1.1246 on the dollar, while the British pound slid to $1.2411. New daily infections in the United States hit […]
The dollar bounced on Wednesday after two consecutive days of losses as markets pin hopes for a fast economic recovery. The dollar index rose 0.2% as the appetite for risk currencies wore off in early European trade. The pound fell 0.3% and the euro 0.2%. The kiwi lost almost 1% after the Reserve Bank of […]
Dell Technologies Inc. (DELL.N) said on Tuesday that it is examining options including a spinoff for its roughly $50 billion stakes in VMware Inc. (VMW.N) as the PC maker seeks to boost the value of its shares. Dell shares rose by 18% to $57.80 after rising by 1.5% in regular trading. VMware shares, which were […]
The euro and its peers gained on Tuesday following White House trade adviser Peter Navarro’s claim that his comments on the U.S.-China trade deal were taken out of context. The euro gained 0.3% to $1.1306, its one-week high after its overnight volatility rose to almost 10%. The Australian dollar was up 0.3% to $0.6928, its […]
Gold prices rose earlier on Monday in Asia, reaching its highest since May as fears of a second wave of COVID-19 cases continued to dampen hopes of a quick economic recovery. The World Health Organization on Sunday reported a record 180,020 cases, adding up to the near 9 million COVID-19 cases globally as of June […]
The U.S. Dollar reached a three-week high while commodity currencies halted on Monday after concerns mounted over the surge of new COVID-19 cases around the world. Market movements were still limited as investors hoped that fears of a second wave would compel new lockdown measures. However, with the World Health Organization reporting a record increase […]
Tesla Inc. (TSLA) said on Tuesday that it had signed a three-year pricing agreement with Japan’s Panasonic Corp. (6752.T) for the manufacturing and supply of lithium-ion battery cells at the Gigafactory in Nevada. Tesla said that the agreement is effective from April 1 until March 31, 2023, which sets the specific terms between the two […]
Asian share markets were seen retreating on Wednesday. This was mainly from weak market confidence that a surge of coronavirus cases will prolong economic inactivity, even as U.S. retail sales recorded historic highs in May. Geopolitics pressed deeper as India reported that 20 of its soldiers had been killed in clashes with the Chinese military […]
U.S. retail sales are expected to post a record rise in May as 2.5 million Americans returned to work. However, the rebound is still small compared to the historic falls in March and April due to the lockdown measures. The monthly report for May is expected to show an 8.0% increase in retailers, exceeding the […]
The New York Stock Exchange (NYSE) announced that it would allow a limited number of market makers to return to the trading floor on Wednesday after nearly three months of closure due to the coronavirus outbreak. Designated market makers from 2,200 listed companies would be permitted to come back this week and they would have […]
After a series of rate cuts to cushion the economic impact of the pandemic crisis, the Bank of Japan held its rates steady on Tuesday to signal that the easing efforts made were enough to support growth. But the BOJ announced a welcome development for cash-strapped firms as the previously $700 billion worth of lending […]
The novel coronavirus crisis and China-U.S. trade tensions awakened concerns that the Port of Los Angeles would grow inactive during the peak holiday shipping season. This came after the seaport was seen at its weakest in May in more than a decade, Executive Director Gene Seroka said on Wednesday. May had seen the busiest seaport […]
Oil prices dropped on Wednesday after U.S. crude and fuel stocks rose, raising concerns about oversupply and declining demand amid the pandemic. Brent crude futures lost 1.4%, or 59 cents, at $40.59 per barrel. U.S. West Texas Intermediate futures fell 1.9%, or 72 cents, at $38.22 per barrel. Both benchmarks rose to their highest levels […]
China’s producer prices recorded a historic drop in more than four years. This indicated that the country’s manufacturing sector is struggling as the novel coronavirus crisis curbed trade flows and dragged global demand. The producer price index (PPI) dropped 3.7% in May from a year earlier, the National Bureau of Statistics (NBS) said in a […]
Mexico’s economy is likely to have shrunk by 17% in April, finance minister Arturo Herrera told local broadcaster W Radio on Thursday. However, he reassured that the economy could shrink “a little less” in May as lockdown measures ease. The second-largest economy in Latin America shrank by 1.2% from January to March, according to the […]
German imports and exports took a huge hit in April, revealing a record plunge since 1990 after the COVID-19 pandemic severely disrupted demand and supply. The data on Tuesday added to the bleak outlook for the biggest economy in Europe. Many had previously speculated that the pandemic would lead the German economy into its biggest […]
Asian stocks rose on Monday after an unexpected increase in U.S. employment lifted hopes of a faster global recovery from the COVID-19 pandemic. The Asian-Pacific’s MSCI outside of Japan gained 0.23%, continuing to see highs for eight consecutive days. The index soared by 34% after suffering from 4-year lows in March since the early days […]
Japan’s economy braced for its sharpest postwar inactivity even as first-quarter gross domestic product fared better than initially speculated. This is mainly from the disruptions of the coronavirus crisis, halting global growth and pressuring Tokyo to alleviate businesses and consumers from economic drag. Banks are doing their part in helping as lending soared at its […]
Oil prices fell on Thursday after U.S. distillate inventories rose, creating doubt on major oil producers’ commitment to further output cuts. Brent crude futures lost 1.46%, or 58 cents, at $39.21 per barrel. U.S. West Texas Intermediate dropped 1.98%, or 74 cents, at $36.55 per barrel. OPEC+ members Saudi Arabia and Russia planned to support […]
Russian oil and gas condensate production dropped to 9.39 barrels per day (bpd) in May, nearing its target in accordance to a deal with the Organization of the Petroleum Exporting Countries (OPEC+). The figures come from the country’s energy ministry and were cited on Tuesday’s report by the news agency Interfax. Under an agreement with […]
The dollar plunged on Tuesday as investors hoped for a faster global economic recovery despite the growing U.S.-China tensions and mass protests in several U.S. cities. The dollar index fell to 97.790, its weakest level since March. The euro steadied at $1.1154, nearing more than a 2-month high. The British pound stood at $1.2491, after […]
Ireland’s manufacturing sector recovered slightly after its historic drop in April. Though indicators underscored recovery, it still declined in May as the economy started emerging from government-implemented lockdowns, a survey showed on Tuesday. The AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) fared better than its previous record as it advanced to 39.2 from 36.0 […]
On Monday, Chief Executive Officer Arne Sorenson stated that Marriott International (MAR.O) has resumed all its hotel operations in China and is seeing a sustained recovery in its biggest market, the United States. After Sorenson’s statement, Marriott International’s shares went up to 8.1% to $95.64 in the afternoon trading. Occupancy rates in China have risen […]
Risk currencies gained against the dollar on Monday as investors staked on signs of easing U.S.-China tensions and worldwide economic recoveries. The Australian dollar rose 1% to a three-month high of $0.6742. The dollar index neared an 11-week low after sliding 0.2% to 98.031. U.S President Donald Trump did not announce any plan to sanction […]
India’s gross domestic product data due today is expected to reveal weak results, indicating that the economy is at its slowest pacing in at least two years in March. Dampened expectations were mainly from struggling consumer demand and private investment due to the COVID-19 pandemic. The economy is expected to advance by 2.1% in the […]
Oil prices fell for the second day on Thursday as U.S. industry data reported a rise in crude inventories. This dampened hopes of a faster recovery in demand as countries worldwide emerge from lockdowns. The successive declines came after the uncertainty in Russia’s commitment to further production cuts as the June 9 meeting of OPEC+ […]
Australia’s economic contraction may come milder than previously thought, completely disregarding the possibility of negative interest rates or quantitative easing measures, the Reserve Bank of Australia said on Thursday. Though the country has started lifting lockdowns, the overall economic outlook is still dim. The land down under had seen dire inflation rate and unemployment surge, […]
The International Energy Agency (IEA) stated on Wednesday that the world’s investment in the energy sector is projected to plummet by a record-high 20% or $400 billion in 2020 due to the coronavirus pandemic. The Paris-based energy agency warned that the economic impact of public health crisis could have “serious” implications for energy security and […]
Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Tuesday that the central bank is ready to roll out additional measures to soften the economic impact of the COVID-19 pandemic. The announcement still maintained a bleak outlook even after the state of emergency was lifted in Tokyo. The BOJ had recently pledged its own version […]
Oil prices dropped on Friday as U.S.-China tensions intensified and Beijing failed to set a targeted economic growth for 2020. These raised concerns on the possibility that the coronavirus crisis will dwarf fuel demand in China. Brent crude fell 4%, or $1.43, at $34.63 per barrel. U.S. West Texas Intermediate plunged 5.3%, or $1.81, at $32.11 […]
China axed its annual growth outlook for the first time on Friday. It pledged to render larger volumes of government spending as the coronavirus crisis drags the world’s second-largest economy, bringing a dull mood to this year’s parliament meeting. China’s economy had recorded a total of 6.8% contraction rate in the first quarter. The decline […]
Central banks may need to increase quantitative easing programs according to an analysis from JPMorgan Chase & Co. The investment firm’s report resonates with the conclusion by Goldman Sachs Group strategists of limiting bond yields. The expected increase of this year’s $2.1 trillion supply could offset the $1.9 trillion demand to $200 billion, the […]
Wednesday morning saw gold climb after hopes arose in news of a possible vaccine for the coronavirus being expedited on Tuesday. However, vacccine experts were quick to rain on Moderna’s parade after the drug manufacturer announced of a potential cure for the virus with 45 trial participants getting an immune response. The experts’ report released […]
Australia’s economy currently faces an unprecedented downturn due to the novel coronavirus crisis. However, large volumes of fiscal and monetary supports could minimize the impact of the deadly respiratory disease, according to the minutes released by the Reserve Bank of Australia on Tuesday. “An economic contraction of such speed and magnitude would be unprecedented in […]
The dollar firmed on Monday as the market mood was weighed by arising global tensions with China and the prospect of negative interest rates. The dollar firmed at 107.25 against the range-bound yen as Japan fell into recession for the first time since 2015. The dollar steadied against Asian currencies, while the dollar index stood […]
Oil prices hit more than one-month highs on Friday after gaining over 3% amid signs of demand recovery. Brent crude rose 3.9%, or $1.21, at $32.34 per barrel, gaining 3% for the week. U.S. West Texas Intermediate climbed 3.3%, or 92 cents, at $28.48 per barrel. The benchmark is heading for its third week of […]
On Thursday, stocks had been recorded to have fallen whilst bonds remained to be in demand. These had happened due to apprehensions of the Coronavirus infecting anew coupled with a gloomy evaluation from the U.S. Federal Reserve head that economic recovery from the pandemic are not yet in the cards. “The path ahead is both […]
The dollar rose to a near three-week peak on Thursday after Fed Chairman Jerome Powell dismissed the prospect of adopting negative interest rates. Powell’s comments diminished risk appetite as investors rushed to the safe-haven dollar. Meanwhile, U.S. stocks reported their biggest two-day fall in over three weeks. The dollar index climbed 0.15%, at 100.30. The […]
United Kingdom’s retail sales sunk by nearly a fifth in April as the government’s effort of combating the coronavirus brought disruptions to the sector. More so, Britain’s consumer spending declined by more than a third, a survey showed on Wednesday. The British Retail Consortium reported a 19.1% loss in last month’s overall spending. It drastically […]
Global stocks and oil prices dropped on Wednesday as markets feared a possible second wave of coronavirus infections. MSCI’s index of global shares fell 0.3%, while the pan-European STOXX 600 index slid 1.6%. Deutsche Bank shares plunged 4.4%. German bank Commerzbank and ABN Amro Netherlands also slumped after reporting their first-quarter losses. MSCI’s broadest index […]
Hyatt Hotels Corp. (H.N) announced on Monday that it would terminate 1,300 employees worldwide beginning on June 1. The move comes after a sharp fall in global travel struck the hospitality industry as people stay home to prevent the spread of the coronavirus. Hyatt Hotels implemented numerous restructuring measures to save money by making cuts […]
Logitech International (LOGN.S) recorded a 13.6% increase in sales on Tuesday. The technology provider’s fourth-quarter profit advanced after people working from home purchased necessary products amid the coronavirus pandemic. Logitech, one of the leading providers of computer hardware and software, reported a total of $709.2 million sales. Its profit advanced higher than last year’s $624.3 […]
The United States luxury department store chain Neiman Marcus Group (NMG.A) received interim approval of its first day motions on Friday from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The Court has approved Neiman Marcus Group’s access to debtor-in-possession (DIP) financing of $675 Million from creditors which will enable business […]
The dollar fell on Friday as investors bought risky currencies due to gloomy U.S. employment data yet to be released. The market mood eased after the United States and China said that their top negotiators agreed to cooperate amid the economic and health crisis. The dollar index slid 0.2%, at 99.673. The euro rose 0.1%, […]
Gold prices rose in Asia on Friday morning, carrying over its gains of around 2% from the previous session. Gold futures gained 0.07% at $1,726.95 at 12:01 PM ET (5:01 AM GMT), reclaiming lost ground from a drop of 0.2% earlier in the session. Investors flocked to the yellow metal after the U.S. on Thursday […]
In a memo to pilots seen by Reuters, Virgin Atlantic Airways Ltd. revealed plans on Friday to slash 3,150 jobs this year.The company is taking “self-help” measures to receive financial aid from either the British government or a private sector investor. Earlier this week, Virgin Atlantic Airways announced that it will lay off a third […]
The United States luxury department store chain Neiman Marcus Group (NMG.A) applied for bankruptcy protection in a federal court in Houston on Thursday. In Chapter 11 of the filed document, the retailer company signed an agreement with major creditors for a restructuring deal. The deal is worth $675 Million of debtor-in-possession financing. The company will […]
China saw an unexpected rise in April exports despite the effects of the COVID-19 pandemic. However, the nation’s imports still saw a decline. China’s General Administration of Customs (GAC) reported a 3.5% rise in exports year-on-year compared to a -6.6% decline in March. Analysts from Investing.com had forecasted a -15.7% drop. Meanwhile, imports plunged by […]
China’s exports and imports for April are expected to plummet after a tentative recovery in the previous month. TThe decline is forecasted at a record double-digit level as the COVID-19 pandemic continues to batter global demand and disrupt supply chains, according to a Reuters’ poll on Wednesday. The gloomy projection solidifies the worries that a […]
The Japanese yen climbed to a three-year peak against the euro and a seven-week high against the dollar on Wednesday amid a rocky global economic recovery. The euro stood at 1.0826 against the dollar and at 115.09 against the yen. The yen climbed to 106.22 against the dollar. Other major currencies steadied amid the U.S.-China […]
Asian stocks gained on Tuesday, while oil prices rose amid recovering demand as governments worldwide eased lockdowns. Brent crude traded at $28.37 per barrel, while U.S. crude stood at $21.77 per barrel. Australia’s ASX 200 was up 1.26%, while Hong Kong’s Hang Seng gained 0.66%. U.S. stock futures climbed 0.75%. S&P 500 was up 0.42%, […]
The dollar surged on Monday against major currencies due to fears of a possible re-ignition of the U.S.-China trade war. President Donald Trump and Secretary of State Mike Pompeo have blamed China for the pandemic. Pompeo said that there was enough evidence that the novel coronavirus strain originated in a laboratory in Wuhan. The euro […]
The Mopani Copper Mines (MCM), a Glencore’s (GLNCY) Zambian subsidiary, announced on Sunday that it will continue its mining activities for 90 days. However, the company will still proceed with its initial plan to postpone operations. Glencore’s disclosure of its plan to put MCM under “care and maintenance” amid the virus outbreak alongside other issues […]
Oil prices rose on Thursday as demand is starting to recover and the U.S. crude glut is not growing as fast as anticipated. West Texas Intermediate crude futures gained 14.3%, or $2.15, at $17.21 per barrel. Brent crude was up 10.3%, or $2.33, at $24.87 per barrel. Brent crude for July delivery grew 8.7%, or […]
Russia’s manufacturing activity plunged to a record low in April as factories halted operations in a measure to counter the COVID-19 pandemic, a business survey revealed on Thursday. The Markit Purchasing Managers’ Index (PMI) showed that factory activity fell from 47.5 in March to 31.3 in April. The 50.0 mark divides expansion from contraction. […]
Asian shares tallied a seven-week high record on Thursday, with earnings supported by positive results of a coronavirus vaccine trial. However, bonds and currencies traded cautiously ahead of a European central bank meeting set later on Thursday. Gilead’s (GILD.O) antiviral remdesivir is set to be the standard of care for the deadly respiratory disease after […]
One of America’s largest health insurers, Anthem Inc. (ANTM) stated on Wednesday that the pandemic could cause a major shift in business mix. Due to high rates of unemployment across industries, individuals are compelled to depart from employer-sponsored coverage and avail of Medicaid or ObamaCare instead Employer-sponsored health insurance are more profitable for insurance firms. […]
The dollar fell on Wednesday as re-opening economies lifted the market mood ahead of central bank meetings. The risk-sensitive Australian dollar gained 0.4%, at $0.6517, nearing its sixth consecutive week of gains. The New Zealand dollar climbed 0.6%, at $0.6093. The U.S. Federal Reserve is set to hold a meeting on Wednesday and investors are […]
Oil prices plunged on Tuesday amid concerns of rapidly filling crude storages globally. On top of that, demand may only recover once restrictions on economic and social activity will be lifted. U.S. West Texas Intermediate crude futures slipped 12.8%, or $1.64, at $11.14 per barrel. Brent crude futures dropped 4.3%, or 85 cents, at $19.14 […]
The German insurance giant Allianz SE (ALVG.DE) has signed an agreement to create a bancassurance partnership with financial services company Banco Bilbao Vizcaya Argentaria (BBVA.MC) on Monday. The bancassurance joint venture will provide Allianz a venue to restore its long-term exclusive distribution agreement for the sale of property-casualty insurance products through BBVA’s banking network in […]
The Dollar ended its week-long gain streak on Monday in Asia. The U.S. Dollar Index lost 0.28% to 100.148 at 11:30 Am ET (4:30 AM GMT) Investors had flocked to the Greenback in the previous weeks as a pandemic-led economic turmoil drove to safe-haven inflows and a Dollar shortage. However, some analysts predict that the […]
Asian shares rose on Monday as the Bank of Japan revealed additional stimulus measures to support the economy from the impact of the pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.2%, recovering some of the 2.6% fall last week. Japan’s Nikkei added 2.1% and Chinese blue chips 1%. S&P 500 e-mini futures […]
U.S. Natural gas has been set as the most expensive energy commodity for the first time in more than a decade as the COVID-19 pandemic continues to disrupt demand in other regions. U.S. Gas futures gained up to 10% to $1.815 per million BTU in April. The surge comes as investors expect the record plunge […]
Burberry (BRBY.L), a British luxury fashion brand, said on Friday that it will keep on paying its employees who can’t work because of store closures amid the virus outbreak. The company also added that it won’t depend on government support. Burberry was already warned a month ago that its final quarter sales would be 30% […]
Oil prices collapsed on its second day, with Brent dropping to a record low since 1999 as the market suffered from oversupply and persisting weaker demand. Brent crude plunged 14%, or $2.70, at $16.63 per barrel, while West Texas Intermediate lost 6%, or 68 cents, at $10.89 per barrel. The U.S. June contract fell for […]
After finalizing a deal with the U.S. government for a stimulus package, United Airlines Holdings Inc (UAL.O) will raise $1 billion by selling new shares to increase capital in order to survive a collapse in travel demand amid the virus outbreak. This Chicago-based carrier was the first major airline to sell 39.25 Million shares to […]
The dollar and yen recorded an upbeat activity on Wednesday. Hefty gains were monitored as oil prices failed to relieve markets from anxiety and as the recent decline and slump in crude demand posed a weak economic outlook. The greenback traded stronger than other commodity currencies affected by oil inactivity, ending its performance near a […]
South Korea’s economy was monitored to have diminished at its most rapid pace since 2008. The contraction could be attributed to the inactivity of the virus-beaten business sector and slump in global demand, a Reuters survey showed on Tuesday. Gross domestic product (GDP) for the first quarter is expected to have contracted an adjusted 1.5%, […]
According to a Chinese agriculture official on Monday, the virus outbreak might cause an economic shock to the global food trade and cause another global food crisis. Commentaries were released as the virus outbreak affected the international agriculture supply chains and overturned trades. Other countries also reduced its supplies of grains and enhanced the buying […]
Gold furthered losses on Monday morning in Asia despite decreased risk sentiment over the weekend Gold Futures fell by 0.42% to $1,691.70 per ounce at 9:46 PM ET (2:46 AM GMT). Asian stocks also fell before China’s release of the loan prime rate which is expected later in the day. Gold prices and the stock […]
Facebook Inc (FB.O) will introduce a newly-developed mobile gaming application on Monday. The application was designed to bring a live game streaming experience in an attempt to compete against Amazon.com Inc’s Twitch, Google’s Youtube, and Microsoft Corp’s Mixer services. “Investing in gaming, in general, has become a priority for us because we see gaming as […]
Oil prices gained on Friday with Brent rising almost 3% after President Donald Trump revealed the guidelines on reviving the U.S. economy. Brent rose 2.7%, or 75 cents, at $28.57 per barrel. U.S. crude for May delivery was up by 0.1%, or 1 cent, at $19.88 per barrel, while the June contract gained 4.3%, or […]
Shares of Netflix and Amazon.com had supported the world stock market on Thursday. Hefty gains were monitored as investors anticipated large earnings posed by the stay-at-home setup. However, yields faltered as negative U.S. jobs data indicated a surge in unemployment. Amazon (AMZN.O) and Netflix (NFLX.) greatly advanced as the current home quarantine mandate increased the […]
The dollar rose against other currencies as investors turned to safety after data revealed a worsening economic activity. The dollar index showed a 0.2% gain, at 99.831. The euro fell 0.25%, at $1.0881 and the pound dropped 0.2%, at $1.2482. The dollar gained 0.4%, at $107.86 against the Japanese yen. U.S. retail sales fell 8.7% […]
The highest U.S. retail banks will make some adjustments on Thursday to supply aid to its customers with negative balances on their checking accounts. These banks want to make sure that stimulus payments from the government will be received by its customers. Each citizen must receive funds of as much as $1,200 as a part […]
Gold prices rose in Asian markets on Thursday as investors continued to assess the economic damage caused by the COVID-19 pandemic. Gold futures gained 0.33% to $1,745.70 per ounce at 9:37 PM ET (2:37 AM GMT) as the precious metal attempted to reclaim its losses from the previous session. Companies reported gloomy numbers while the […]
Exxon Mobil Corp (XOM) raised new debt of $9.5 billion on Monday. The company paid a lower price to borrow from debt markets as energy prices collapsed amid virus outbreak. Other highly-rated U.S. companies have also been tapping debt markets for cash due to the uncertainty of economic impact from coronavirus. The logic behind Exxon’s […]
The agreement to cut production between the world’s oil producers may support stocks to recover losses. However, lockdowns and other restrictions remain pressing to the global economy. OPEC and its allies including Russia agreed to slash oil production by 10% of global supply to sustain oil prices amid the crisis. However, sources close to the […]
Canada formally welcomed a deal finalized by OPEC on Sunday. Canada and other oil producing nations will cut production by nearly 10 Million barrels per day for the month of May to June. “This is good. We welcome any news that brings stability to global oil markets,” Canada’s Minister of Natural Resources Seamus O’Regan said […]
Saudi Arabia’s King Salman, U.S. President Donald Trump, and Russia’s President Vladimir Putin expressed their “great satisfaction” on the outcome of the OPEC+ meeting during a conference call, Saudi Press Agency (SPA) reported on Sunday. “The big Oil Deal with OPEC Plus is done. This will save hundreds of thousands of energy jobs in the […]
Britain’s gross domestic product (GDP) is expected to contract by up to 30%, according to Finance Minister Rishi Sunak. The forecast was disclosed to his colleagues as members of the cabinet demanded to ease lockdown restrictions amid the coronavirus pandemic. According to reports that the Times newspaper released, Sunak told his colleagues that a 25% […]
European shares lost its two-day gain streak after Spain reported a rising number of COVID-19 deaths and France became the fourth country to have a death toll above 10,000. Britain’s leading retailer Tesco plunged by 7% to the bottom of the STOXX 600 Index. The drop comes after the retailer said that it is expecting […]
The U.S. Federal Reserve created a new small-business loan program by allowing banks to exchange those loans for cash at the U.S. central bank. This program aids banks ease their concerns of having to hold low interest loans. The Fed will announce further details of the new term financing arrangement for loans under the Payroll […]
Private equity companies Silver Lake and Sixth Street Partners will invest $1 billion to Airbnb on Monday. There were other 20 investors that also approached Airbnb about investing in the company. The debt and equity investment sum up Airbnb’s cash reserves to $4 billion. It will support the finances of the company amid virus outbreak. […]
JPMorgan Chase & Co (JPM.N) will modify its customer complaint system on Tuesday and process how employees choose eligible clients for particular banking services. There were racial discrimination claims in the bank against black customers last December 2019, New York Times reported. Audio recordings made by a bank employee and a customer served as evidence […]
The U.S. dollar rose slightly in Asia on Friday after crude oil prices surged by almost 25% in a previous session. The jump in oil prices came after U.S. President Donald Trump signalled on a potential truce between Saudi Arabia and Russia regarding their price war on Thursday. The Greenback, against a basket of currencies […]
Asian stock markets remained uncertain on Friday as it lost some of its record gains from a surge in oil prices in an earlier session. Japan’s Nikkei went up by a modest 0.32% by 10:33 PM ET (3:33 AM GMT) while South Korea’s KOSPI gained 0.48%. Losing its previous gains, Australia’s S&P/ASX index fell by […]
Gold prices rose in Asian markets on Thursday as investors prepared for prolonged economic turbulence caused by the coronavirus pandemic. Gold Futures gained by 0.41% at $1,598 per ounce at $1,598 by 10:21 PM ET (3:21 AM GT), taking back lost ground from yesterday’s session and reclaiming its safe-haven status. The news of the yellow […]
General Motors GM.N directed suppliers to halt preparations on Monday for the updates of SUVs and other future models for the next year 2021 because of the coronavirus pandemic. General Motors urged its suppliers to delay their planned launch next month. This delay is a signal to the car business industry to conserve cash until […]
The dollar climbed against the Japanese yen on Tuesday after businesses and investors covered a shortfall in the U.S. currency, but overall market sentiment remained gloomy due to intensifying risks of the pandemic. The Chinese yuan remained steady despite a growth recovery in the manufacturing sector in March, as investors stayed skeptical of the recovery […]
E-commerce giant Alibaba Group Holding Ltd said that they had plans to buy a minimum of 10% of Yunda Holding Co Ltd according to two sources with knowledge in the matter. Alibaba has been leaning on buying the stake from Yunda’s major shareholders, the source said. Yunda’s controlling shareholders are Nie Tengyun and Chen Liying, […]
U.S. shares advanced on Monday, with gains partly from healthcare stocks as investors sought securities which have diminished in value and are resistant from measures aimed at slowing coronavirus contagion. The S&P healthcare sector .SPXHC clocked in a total of 4.67% gains. The upbeat mood was partly attributed from Johnson & Johnson (JNJ.N) and Abbot […]
Asian shares underperformed on Monday and oil prices sunk further as pessimism emerged that the worldwide shutdown and restrictions could last longer, impacting the global economy despite central banks’ necessary measures. Japan’s benchmark index Nikkei declined by 2.7% and Shanghai blue chips lost 1.8%. MSCI’s broadest index of Asia-Pacific shares outside Japan inched down […]
TOKYO- Asian stocks recorded a well-ended performance on Friday as investors anticipated another set of stimulus measures to alleviate the drag brought by the novel coronavirus pandemic. Upbeat market mood followed after US unemployment statistics jumped at record-high. MSCI’S broadest index of Asia-Pacific shares outside Japan inched up by 1.2%. Australian shares shed 1.09% and […]
The US Federal Reserve’s balance sheet rose up to more than $5 trillion in assets after taking up bonds and extended loans to banks, central banks, and mutual funds in its emergency measure to support the economy amid the coronavirus pandemic. The Fed’s balance sheet size reached up to half a trillion dollars in a […]
Gold prices dropped on Thursday in Asian markets following a U.S. congress announcement reaching a deal to roll out a $2 trillion financial stimulus in a bid to bolster an economy heavily impacted by the coronavirus. Gold Futures was unable to maintain steady gains and last traded below 0.2% to $1,629.80 by 9:24 PM ET […]
Oil prices slid on Thursday after three days of consecutive gains, despite risks of rapid decline in demand caused by travel cancellations and lockdowns amid the coronavirus pandemic. However, markets pin their hope on the $2 trillion US emergency stimulus to support economic activity. Brent crude futures was down 0.7% or 19 cents, at $27.20 […]
WASHINGTON – The United States and China have gained progress in achieving the agriculture-related agreements of a Phase 1 trade deal that produced results on February 14, the U.S. Department of Agriculture (USDA) and U.S. Trade Representative said on Tuesday. In a joint announcement, they recorded advanced steps taken that should help support U.S. exports […]
President Donald Trump said on Monday he is seeing how to resume the U.S. economy when a 15-day shutdown ends next week, even as the highly epidemic coronavirus is spreading quickly and hospitals are preparing for a wave of virus-related deaths. “America will again and soon be open for business,” Trump said in a White […]
WASHINGTON – The U.S. securities inspector on Monday forewarned corporate executives against insider dealing during inconvenience caused by the coronavirus, in an unusual statement that emphasizes the chaos cascading through financial markets. Company supervisors, personnel, human resources, investigators, and other outside professionals who have access to material, nonpublic information should be “mindful of their obligations” […]
Asian stocks managed to find its momentum on Tuesday as U.S. Federal Reserve’s funding plan temporarily relieved market sentiment from pressing losses in financial markets. However, the said scheme seemed inadequate in addressing the economic impact of the novel coronavirus. Wall Street remained flat on red but S&P 500 E-Mini futures jumped by 3% while […]
Oil prices fell on Monday as governments increased lockdowns to limit the spread of the global coronavirus outbreak that has dropped the demand outlook for oil and threatened a worldwide economic compression. Brent crude LCOc1 futures dropped $1.09, or 4% to $25.89 a barrel by 0209 GMT. West Texas Intermediate (WTI) crude CLc1 futures fell […]
On Thursday, an emergency legislation had been introduced by U.S. Senate Majority Leader Mitch McConnell. This aims at stemming economic fallout created by the coronavirus pandemic. Both Republicans and Democrats agreed to meet today to reach an agreement. The financial package includes direct financial help for Americans, small businesses relief, and support for both healthcare […]
The Asian shares market saw its way to recovery on Friday amid Wall Street gains as well as a record rebound in oil prices. However, with investors in a panic Dollars stampede, many speculate that the crisis has not yet come to an end. MSCI’s broadest index of Asia Pacific shares outside Japan rallied by […]
Bond prices reached new depths on Thursday as wary investors disposed large volume of government bonds in virus-inflicted market. The sharp decline prompted central banks to heighten support for debt. Australian 10-year bond surpassed 50 basis points to 1.647% despite the initial scheme of Reserve Bank of Australia to reduce interest rates and implement monetary […]
Thursday saw the dollar climb up as central bank emergency measures in Europe, Japan, the United States and Australia weren’t able to stop the wave of panic selling. “There’s no buyers, there’s not much liquidity and everyone is just getting out,” head of research at Melbourne brokerage Pepperstone, Chris Weston said in a statement. […]
Oil prices climbed up to 20% on Thursday after recovering from days of steep declines. However, analysts warn that the rally may be short-lived as coronavirus fears still threaten a recession. Brent crude gained 8%, or $2.10, at $26.98 per barrel, following a 13% fall on Wednesday. U.S. oil climbed 17%, or $3.44, at $23.81 […]
On Wednesday, Germany’s HDE retail association urged the government to give immediate state aid and tax relief so as to prevent the wide closure of businesses no matter how temporary. To date, the country had been losing 7 billion euros weekly. In an interview, HDE President Josef Sanktjohanser had stated, “Massive loss of turnover […]
Oil prices steadied on Wednesday after hitting four-year record lows, hit by weak fuel demand, global travel ban, and social restrictions to contain the virus pandemic. Brent crude went up 0.3%, or 8 cents, at $28.81 per barrel. The international benchmark dropped 4.3% on Tuesday. U.S. crude slid 2 cents, at $26.93 per barrel. West […]
Finance Minister Bruno Le Maire on Tuesday announced that France will be sending €45 billion ($50.22 billion) toward companies across the country after many expected its virus-hit economy to drop by 1%. Le Maire said that a major part of the fiscal package would be the deferral of all taxes and payroll costs that companies […]
Oil continued losses on Monday as the Federal Reserve imposed an emergency rate cut to ease global financial markets that are panicked and caught in between the price war between Russia and Saudi Arabia. Brent crude dropped $1.13, at $32.72 per barrel, following a 25% fall last week. U.S. crude was down 72 cents, at […]
Boaz Weinstein’s primary hedge fund Saba Capital Management LP disclosed a 33% gain in March amid a market severely affected by the coronavirus pandemic. The profits added its year to date gain up to 67%, a letter to its clients said. Saba’s Tail Fund, which pledged market insurance in the event of markets collapsing, performed […]
Members of European Union finance ministries on Monday have decided on a coordinated economic response to the coronavirus after wide speculation that its effects could potentially push the EU into a recession. The move is currently comprised of various procedures taken by its 27-nation bloc as well as the halting of limits on epidemic-related spending […]
Wall Street slipped into bear market on Thursday, along with decline in European stocks, Bitcoin, and precious metals, as investors sell assets in return for cash. Bitcoin fell 26%, its biggest drop in seven years. Precious metals like platinum and palladium suffered their steepest declines since the 1980s, with 20.4% and 11.1% declines, respectively. The […]
The dollar recovered on Friday as investors turned to the most liquid currency amid intensified global concerns over the pandemic virus. The euro eased losses after the European Central Bank (ECB) refrained from slashing interest rates. The dollar gained the most against other currencies after swap spreads indicated that there was a shortage in dollars […]
The U.S. ban on citizens travelling into the country from Europe has piled on the pressure on airlines that have already been affected by the impact of the coronavirus. The 30-day restrictions are comparable to those implemented in China early February and was announced after the virus had spread across the world including the European […]
LONDON – Europe’s market revenue were anticipated to decline this week as the vast spread of the pandemic coronavirus outbreak sparked terror and fright to the worldwide economy. This was according to leading global Refinitiv’s findings on Tuesday. STOXX Europe 600 is slated to affix a 3.1% decrease in their first quarter income (January to […]
Finance Minister Rishi Sunak said on Wednesday that the British government will allocate 2.5 billion pounds ($3.2 billion) on road repairs fixing approximately 50 million potholes in roads over the next five years. According to Sinak, the extra 500 million pounds of spending on road repairs in the coming years was part of a larger […]
SINGAPORE- Oil prices recuperated from previous drop and advanced 6% on Tuesday. However, analysts believed that there is very little margin for recovery from sharpest decline in nearly 30 years as Saudi Arabia and Russia are currently caught in a price dispute. Oil prices’ upbeat activity was enforced by optimism for a settlement and […]
U.S. stock futures declined sharply by 5% to its daily limit after a record-breaking, single-day drop in Crude Oil WTI Futures in thirty years fanned market fears of a credit crunch worldwide. Saudi Arabia’s move to increase oil production to above 10 million barrels per day and decrease its selling price came after Russia hesitated […]
An Australian newspaper reported on Monday that the government is launching to implement monetary measures by injecting A$10 billion ($6.6 billion) in circulation to battle the economic impact of the coronavirus spread. “The details of our fiscal response are still being finalized and we will be working with the colleagues in coming days to conclude […]
NEW YORK- Bear market and recession became two of the most used words in the financial landscape as investors reviewed the overall impact of the novel coronavirus and future ramifications this may inflict to global growth. Investors also assessed its direct impact on asset. The fast-paced virus contagion brought sharp movements in markets across the […]
SINGAPORE- Oil prices soared more than 1% on Thursday after its underperformance the previous day on a lower-than-expected increase monitored in the United States. However, earnings were restricted by ambiguity whether major oil manufacturers will implement deeper output reduction. Brent crude LCOc1 advanced 78 cents, equivalent to 1.5%, and was last quoted at $51.91 per […]
South Korea announces $9.8 billion stimulus to combat coronavirus South Korea on Wednesday announced a stimulus package of 11.7 trillion Won ($9.8 billion) to soften the blow of the virus that had spread beyond China. The stimulus, after parliamentary approval, will transfer financial aid to the country’s health system, child care, and outdoor markets according […]
Early Fed rate cut sparks market anxiety, Dollar on the defensive The U.S. Dollar on Wednesday after an early Federal Reserve cut rates by 50 basis points, sparking anxiety within the markets about the impact of the virus. The Fed move came as a surprise to investors as the cut came 2 weeks ahead of […]
Officials of the British government and the European Union will commence their trade negotiations on Monday to bridge gaps between the E.U. and the U.K. brought about by the eventual Brexit. However, breakdown fears grow amid the incipient trade talks. Three individuals familiar with the development raised concerns that both parties are waving red flags […]
NEW YORK- Stock market’s inactivity observed last week mainly from novel coronavirus concerns was the sharpest underperformance since the 2008 financial crisis. However, market analysts said on Monday that trades are stable all of which could be attributed from strong market structure. The S&P 500 .SPX plummeted 11.5% the previous week before rebounding on Monday […]
SEOUL- South Korea’s February consumer inflation was monitored to be on a slow note mainly from dwindling demand brought by the coronavirus contagion and fluctuating oil prices, official records disclosed on Tuesday. The slow inflation indicated that there is an immediate need for interest cuts in order to solve consumption and growth problems. According to […]
SINGAPORE- The euro stabilized against the greenback on Tuesday. The session placed euro close enough to its peak in two months on hopes that the monetary easing in the United States will intensively run compared to other measures implemented in Europe. The euro traded $1.1185 in overnight session, the highest performance since early part […]
Apple Inc. will pay $500 million to resolve litigation that accused the company of deliberately slowing down older iPhones in each new model launch, as a way to encourage owners to buy the newer model or replacement to old iPhones. The preliminary class-action settlement was revealed on Friday and is set to be approved by […]
South Korea’s economy expanded by a little more than estimated during 2019’s final quarter, attributed to higher domestic demand and capital investment. Asia’s fourth largest economy grew by 1.3% on seasonal adjustment in the October-December period. The figure was higher than the 1.2% forecasted rise, as shown in the revised GDP of the Bank of […]
GFL Environmental Inc raised nearly $1.4 billion in its IPO, pricing shares below target range in an attempt to withstand market volatility amid the virus outbreak. The Canada-based waste management company valued its IPO at $19 per share, slightly lower than the $20-$21 per share target range and a market value of $6.08 billion. The […]
Reuter’s survey revealed that the Bank of Canada will keep its interest rates steady at 1.75% on Wednesday. However, monetary easing is seen to be imposed before the year ends, according to a significant number of economists surveyed in the poll. Twenty of 34 or 60% (majority) of the economist-respondents said that Canada’s central bank […]
The London Stock Exchange (LSE) said on Friday that it was “on track” to completing its takeover of the analytics company, Refinitiv, after a clearing activity led to a higher-than-expected annual income. According to LSE CEO David Schwimmer, the $27 billion deal with Refinitiv is planned to be fulfilled by the second half of 2020. […]
The Japanese Yen on Friday rose to a one-month high after the reports of the virus spreading outside of China piled on concerns and sent investors retreating to safe-haven assets. Hopes of the virus containment in China diminished after several cases were reported on different continents, prompting governments to take action. The Yen jumped […]
TOKYO- Oil prices hit a five-day low on Thursday, its lowest performance since January 2019. Such inactivity was brought by increasing rate of coronavirus diagnosis outside China which intensified investors’ fears that the contagion will drag and lower demand for oil. Brent crude LCOc1 inched down 77 cents, equivalent to 1.4%, and last stood at […]
TOKYO- Asian shares sunk down on Wednesday after the United States warned that further spread of novel coronavirus may end up as a global emergency. The announcement dragged Wall Street and tied earnings on safe-haven Treasuries to low grounds. The S&P 500 .SPX and the Dow Jones Industrial Average .DJI lost 3% on Tuesday’s session, […]
Wall Street falls on pandemic fears as Italy faces virus impact A sudden increase of people infected by the fast-spreading coronavirus in Italy including several Middle Eastern countries reignited market fears of a global pandemic. The World Health Organization stated that while limited outbreaks abroad China were expected, the surge in cases escalating from 3 […]
Asian stocks steady in decline as investors await clarity on pandemic risk Asian stock markets steadied in decline on Tuesday after an easing global sell-offs and a brief jump in Wall Street markets. According to the Wall Street Journal, market sentiment was supported by news on a potential vaccine to be developed soon. However, the […]
Asian currencies drop as investors flee to safe haven assets amid news of virus spreading beyond China Asian currencies fell on Monday following news of the rapidly spreading coronavirus being reported on several countries outside of China. The news fanned fears of a pandemic and had investors retreating to safe haven assets such as gold […]
Warren Buffett’s Berkshire Hathaway Inc. reported a 23% decline in its quarterly operating profit, while rising prices in many stock holdings allowed the conglomerate to top its past full-year earnings. Buffett explained Berkshire’s entry into stocks in his letter to the conglomerate’s shareholders. Berkshire’s last acquisition of stocks was four years ago, leaving the company […]
The Brexit transition period slated until December 2020 to negotiate with its former bloc, the European Union is less likely to happen, according to a poll conducted by Reuters in which more than half or two-thirds of economist-respondents said so. In this highly likely scenario, the trade deal between the conflicting parties will turn into […]
Japan’s core consumer inflation barely recovered in January. This had put pressure on the Bank of Japan to maintain its massive monetary stimulus to underpin the economy weakened by slow growth and weak prices. Tame inflation is cause for worry in Japan’s economy still saddled by the virus impact. The BOJ expressed no interest to […]
TOKYO- Oil prices underperformed on Friday as concerns regarding demand continue to disturb investors. Such inactivity followed after the coronavirus contagion encroached territories outside China while leading oil manufacturers launched to deeper output production to alleviate the market from harm. Brent crude futures lost 24 cents, equivalent to 0.4%, and last stood at $59.07 per […]
The S&P 500 and Nasdaq closed at record highs on Wednesday amid expectations of a newly-issued stimulus from Beijing to soften the economic impact of the coronavirus. The spread of the virus had been reported to show signs of slowdown in China. The S&P 500 soared 0.47% while the Nasdaq Composite surged 0.87%. Meanwhile, the […]
WASHINGTON- The coronavirus contagion has already brought intensive level of tension in China’s economy and further spread of the virus to other nations could inflict more damage to an already weak recovery of global economy, the International Monetary Fund disclosed on Wednesday. Included in the document released by the international lender were risks including the […]
Dollar outperforms Euro as investors consider a deepening virus impact The U.S. Dollar towered over the declining Euro and other heavily sold exporter currencies on Wednesday as investors took into consideration of a deepening economic fallout due to the coronavirus outbreak in China. The virus’ death toll in China rose to over 2,000 with more […]
TOKYO- Asian shares and U.S. stock futures clocked in gains on Wednesday. Upbeat market activity followed as investors grew a bit optimistic on recent decline in the novel coronavirus’s number of new cases. MSCI’s broadest index of Asia-Pacific shares outside Japan strengthened with 0.03%. The index fluctuated during its early session simultaneously switching between earnings […]
South Korea pledges emergency measures as virus outbreak in China affects economy Two of South Korea’s chiefs of economic policy pledged on Friday that they would deploy emergency measures to minimize the impact of the novel coronavirus on the country’s economy. Finance Minister Hong Nam-ki and Bank of Korea Governor Lee-Ju-yeol made the remarks at […]
Oil prices remained steady on Friday but are more likely to rake in more gains mainly from expectations that major oil manufacturers will implement larger oil reduction to aid demand slump in China, the world’s second-biggest oil importer. Brent crude futures LCOc1 lost 9 cents to $56.25 per barrel at exactly 0224 GMT. Such followed […]
Wall Street reached new record highs on Wednesday as investors recover appetite over coronavirus slowdown. Technology shares led the rally that lifted three major U.S. stock averages to new highs. The S&P 500 and Nasdaq closed three consecutive highs. The Dow achieved its most recent record on Feb. 6. New coronavirus cases in China tallied […]
TOKYO- The yen recovered from three weeks of underperformance against greenback on Thursday. Upbeat activity followed after Hubei province in China reported an atrocious increase in the number of new coronavirus cases boosting markets and rallying investors to resort to safe-haven assets. The Chinese yuan shed gains against the dollar as recent developments on coronavirus […]
Korean automaker Hyundai Motor Co expanded its future automobile profile by collaborating with California-based startup Canoo in producing electric vehicles, the company disclosed on Tuesday. The said pact with Canoo was the second agreement that Hyundai and sister company Kia Motors Corp sealed for electric vehicle production. Such followed after the company disclosed its plan […]
California confirms a case of the nCoV, bringing it to a total of 13 cases in the United States. The person of interest is being held under Federal Quarantine at the U.S. Centers for Disease Control and Prevention (CDC), after return from Wuhan, China. The unnamed patient was also an evacuee from Wuhan, among the […]
Kia Motors to suspend South Korean production plants as auto parts supplies dwindle Kia Motors has said that it would be suspending production at its three car manufacturing plants in South Korea due to a dwindling supply of auto parts, according to a company official on Monday. Kia Motor’s factories located at Gwangju and Sohari […]
Asian currencies gained on Monday as signs of the coronavirus slowing down prompted large businesses in China to resume operations. Workers started to return to offices and factories as the government relieved some travel restrictions. The epidemic has already killed over 900 people, most of whom reside in mainland China. The Australian dollar gained 0.5%, […]
Vietnam-China trade dropped in January due to the coronavirus spread amid the Lunar New Year holiday, disrupting supply chain and transport. China is Vietnam’s largest partner in trading in manufacturing of materials and equipment for labor. Bilateral trade fell in January for 25.8% from December’s figures. In the previous year, bilateral trade declined 11.8%, the […]
Oil prices gained over 1% on Wednesday, underpinned by news of potential extended production cuts by OPEC+ to counter weak global oil demand caused by coronavirus outbreak. Brent crude oil futures LCOcl gained 1.4%, or 74 cents, at $54.70 per barrel by 0326 GMT. West Texas Intermediate crude futures rose 1.2%, or 61 cents, at […]
Tesla is on a roll early this 2020 as its shares skyrocketed anew on Tuesday. Tesla’s shares increased by as much as 20.5%, and trading as high as $940. This milestone appreciated Tesla’s worth at around $170 billion. In the last two days, Tesla posted a 40% increase in shares. Tesla’s overall performance for this […]
Oil prices gained following rebound in other financial markets as investors steady after a sharp sell-off on Monday. Fears on the effect of the virus outbreak on oil demand caused crude oil to drop to its lowest in over a year. Brent crude gained 21 cents, or 0.4%, at $54.66 per barrel by 0227 GMT. […]
Chinese Yuan holds steady amid coronavirus-led anxiety China’s currency and stock markets held steady on Tuesday after news of the spreading virus in China hit the Yuan. In the previous session, the Yuan had lost around $400 billion in market value from the Shanghai benchmark index. The Shanghai Composite opened 2% lower before regaining ground […]
Days after Brexit, British Prime Minister Boris Johnson would consider setting a looser trade agreement with the European Union, a trade deal arrangement akin to that of the EU and Australia trade ties. This possibility is an indicator that the United Kingdom is unlikely to follow the EU’s rules to come up with a trade […]
South Korea’s factory output in December higher than estimated as a large chip production boosted industrial activity. However, analysts warn of the impact of the Coronavirus outbreak on demand in January. Industrial output climbed 3.5% in December compared to a month earlier, its quickest gain since November 2016. Recent economic indicators such as the trade […]
Oil prices soared on Friday as the World Health Organization (WHO) declared global emergency, advised against travel, and restricted trade amid the coronavirus outbreak that began in Wuhan, China. Oil prices fell 4% through Thursday in the third consecutive month, while traders and investors worry about the impact of the virus on oil and product […]
China’s manufacturing activity recorded a weak progress in January as export orders declined and new virus contagion contributed to risks that drag the world’s second-largest economy. The Purchasing Manager’s Index (PMI) sunk down to 50.0 in January, marginally lower than its previous record of 50.2 in December according to China’s National Bureau of Statistics on […]
Facebook surpasses Wall Street expectations with strong fourth quarter despite challenges Facebook went above Wall Street’s expectations with a strong fourth quarter report after it had profited greatly from advertising and new users despite challenges it faced regarding regulation, privacy, and election interference. Facebook said that about 2.89 billion people had used at least one […]
British car output fell in 2019 at the fastest rate since the recession due to weak exports and diesel demand. To protect the sector, an industry body called for a post-Brexit trade deal. Meanwhile, investment soared to 1.1 billion pounds (1.5 billion) due to Jaguar Land Rover building electric vehicles in Britain. Production fell for […]
A small gold project in Australia that was set to be sold to a Hong Kong-based company was put on hold due to the buyer showing symptoms of coronavirus. One member of the family showed symptoms attributed to the virus, which led to the quarantine of the rest of the members, the seller said. Australia’s […]
British Prime Minister Boris Johnson on Tuesday included US-banned Huawei by giving it a limited role in the country’s 5G mobile network. Johnson allowed “high-risk vendors” such as Huawei to partake in the non-sensitive parts of the 5G network of Britain. This means that Huawei will be excluded from sensitive processes of the 5G including […]
iPhone recuperated from previous sale inactivity but Apple is launching tighter measures against potential disruptions in virus-hit China. Apple Inc’s sales and profits surpassed Wall Street expectations. Such activity was brought by Lunar holiday shopping on relatively increasing demands for add-ons including AirPods wireless earphones. Apple’s positive performance eased investors’ concerns about the coronavirus contagion […]
TOKYO- Oil prices soared for second day on Wednesday, and were more stable after hitting five-day low on reports that OPEC could further reduce oil output if China virus impacts demand. Figures disclosing decline in US stockpiles supported oil activity. Brent crude LCOc1 advanced 33 cents, equivalent to 0.6% to $59.84 per barrel by […]
Japanese government bonds gain with 30-year yield hitting its lowest in 3 months Japanese government bonds (JGBs) saw gains on Monday with the yield of 30-year bonds hitting its lowest in 3 months. The drop in its yield level has been due to growing concerns about the new Coronavirus China that has started to spread […]
Contraction in Japan’s factory activity bogs down in slowest pace in five months Japan’s factory activity shrank for a ninth-month straight in January at the slowest pace in five months. Economists speculate the slowing of pace to be reflecting the positive feedback of the U.S.-China Phase One deal and alleviating fears of a recession. The […]
The largest fall in Chinese stocks in eight months caused global equity markets to roil as global concerns heighten on the coronavirus outbreak in China. Millions of Chinese prepare for the Lunar New Year to begin on Saturday, the peak travel season, increasing the disease’s potential to spread. Wuhan and Hunggang cities, with a total […]
Oil and gas company bankruptcies in the U.S. and Canada surged 50% compared to last year, according to a report by Haynes and Boone law firm. The figure is likely to go higher as a decline in energy prices continue to rock producers. U.S. and Canadian oil company bankruptcies increased to 42 in 2019, compared […]
Asian stocks drop as China’s containment plan puts Wuhan city in lockdown Asian stocks had dropped on Thursday morning after China issued a travel suspension in the entire city of Wuhan to prevent the spread of the Coronavirus. Both the Shanghai Composite and the Shenzhen Component fell by 0.5% at 10:30 PM ET (02:30 GMT). […]
Netflix started the year struggling as increased level of competition dominated the streaming market. Such is expected to give the online streaming service a tougher year than 2019. Global growth aided the streaming video service from underperformance as it boosted far above expectations in the last quarter of 2019. However, the company recognized tighter market […]
JPMorgan to expand Paris hub post-Brexit JPMorgan Chase & Co became the latest investment bank to significantly expand its Paris hub, seizing new premises in the French capital. The move comes as part of a plan to relocate some its services from London after Britain would severe its two-way access with the bloc. JPMorgan would […]
Global FDI dips amid Hong Kong divestment and Brexit uncertainties: UN Global direct foreign investment (FDI) dipped slightly last year after being knocked back by a massive divestment in Hong Kong and Brexit uncertainties, the United Nations said on Monday. Global FDI flows in 2019 were estimated at $1.39 trillion which was 1% lower than […]
Over 1,000 EU firms to open UK branches after Brexit Over 1,000 banks, asset managers, payments companies, insurers in the European Union are planning to open their offices in a post-Brext UK in order to mitigate the loss of businesses going the other way, according to regulatory consultancy Bovill on Monday. The new offices have […]
The World Bank cut Thailand’s economic growth outlook to 2.7%, from the initial 2.9% estimate for 2020. This year’s estimated growth is higher than last year’s, when World Bank estimated economic growth to be at 2.5%. The increase was attributed to a recovery in private consumption and investment due to large infrastructure projects. Thailand’s economy […]
TOKYO- Oil prices were steady on Friday as market participants awaited for figures disclosing China’s economy is on its slowest in 29 years, with gains being the current safe haven following Washington and Beijing’s settlement of phase 1. Brent LCOc1 advanced further with 3 cents, equivalent to $64.65 by 0123 GMT after its well-ended session […]
TOKYO- Oil prices advanced on Thursday, brought heavily by the very much anticipated trade pact signing between the United States and China. This guaranteed bigger increase as China is mandated to purchase increased energy supplies from the United States. Brent LCOc1 clocked in gains with 33 cents, equivalent to 0.5% or $64.33 per barrel by […]
Singapore’s new law to entice funds and strengthen financial industry Singapore’s new law has made it easier for investment firms to register funds locally as the city-state strives to increases its allure as a financial hub. The new law, which came into effect on Tuesday, encourages asset managers to domicile their funds in Singapore by […]
LONDON- Overall investments in Britain’s technology sector boosted 44%, up to a record of $13.2 billion pounds in 2019. Such scoped up third of the total European funding all while surpassing the total in France and Germany combined, the UK government’s Digital Economy Council stated on Wednesday. The United Kingdom is currently tailing behind […]
U.S. budget deficit widens 11.8% in its first quarter of fiscal year The U.S. budget deficit widened to $356.6 billion in the first three months of fiscal 2020 as spending rose more than revenue. This would keep the federal shortfall on pace to exceed $1 trillion by the end of the year. The gap increased […]
DUBLIN- Irish consumer sentiment boosted in December and recorded its two consecutive monthly gains in four years as ‘no-deal’ Brexit concerns diminished, according to survey released on Friday. Ireland still tops the board as the fastest growing economy within years of Brexit talks, but consumer sentiments dwindled when Britain, the country’s neighbor country, planned to […]
Mexican exports of automotive parts dropped for the first time in ten years last year, as it was pulled down by low demand from outside the United States. Mexican carmaking is about to suffer fresh reversals in the beginning of 2020, suggests an industry group. Carmaking is a fundamental part in Mexican manufacturing, so a […]
BEIJING-China recently released drafted guidelines to arm its financial leasing sector that holds 4 trillion yuan worth of assets ($577.16 billion), in its latest scheme to negate financial declines. China recorded a total of 10,900 leasing company from June 2019 posting and 72% of these are inactive, according to a statement released by China Banking […]
U.S. wine industry fears proposed 100% tariffs on French imports U.S. consumers will pay the biggest price for the proposed 100% on French Champagne and other sparkling wines, cheese, porcelain, enamel cookware, and handbags, witnesses said on Tuesday. The U.S. Trade Representative’s office proposed punitive duties last month on $2.4 billion worth of imports from […]
Samsung Electronics says profit may fall less slightly than analyst expectations Samsung Electronics Co Ltd said on Wednesday that its quarterly operating profit is likely to fall at a milder pace compared to analyst forecasts, indicating the recovery of memory chip prices from an industry downturn. The announcement sent Samsung’s share price up 2.2% in […]
Is it a bird, or a plane? Nope. It’s a flying taxi! The sky is the limit for Uber and Hyundai as they collaborated to launch flying taxis in the sky that will soon be seen flying in 2023, revolutionizing the ridesharing trips and putting it sky-high. During the Consumer Electronics Show in Las Vegas […]
With global economic situation waking up perpetually on the wrong side of the bed, and the Brexit uncertainty remaining to be in the cards, the USD is caught in somewhat a modest weakness. Amidst the threat of more interest-rate cuts, from the international central banks, a resolution to the already dragging U.S.-China trade war had […]
The Chinese industrial production profits were observed to be at its fastest growth pace in eight months in November. However, low domestic demand remains to be a problem to be solved by the sector next year. China’s profits in the industrial sector rose to 5.4% in November compared to its last year’s counterpart to 593.9 […]
U.S. President Donald Trump affirmed on Tuesday that he and his Chinese counterpart, Xi Jinping, will hold a contract signing ceremony to ink the phase one of the U.S.-China trade deal completed this month. “We will be having a signing ceremony, yes. We will ultimately, yes, when we get together. And we’ll be having a […]
TOKYO- Oil prices hiked up on Friday, reaching its three-month peak after data disclosed US consumers’ online spending. Such raked in optimism in world’s biggest economy prior to the possibility of Beijing and Washington signing the trade deal. Brent crude futures advanced 13 cents, equivalent to 0.2% at 68.05 per barrel at 0150 GMT while […]
Chinese telecoms firm Huawei should have a place in Italy’s future 5G network, said the Italian industry minister on Sunday. This comment came after the influential parliamentary committee appealed to Rome to block the company. US has attempted to influence Italy and other European allies from refraining to use Huawei products in their next generation […]
SYDNEY-Sterling hit worst week in more than two years on Friday brought heavily by resurfacing concerns about Britain’s departure from the European Union, while positive records revived dollar from its previous loss. Overnight, pound GBP= declined further and was quoted $1.30 for the first time in two weeks. It traded $1.3008 in Asian trading hours […]
Hong Kong’s Cathay Pacific said it would trim capacity next year after posting dismal markers in the second half of the year due to unending mass protests. On Tuesday, Cathay Pacific revealed that its inbound traffic to Hong Kong plummeted by 46% in November compared to the same month last year. The airline also carried […]
SYDNEY-Asian shares clocked in gains reaching its peak in eight months on Tuesday brought by trade deal enthusiasm and Wall Street’s consecutive well-ended performance. In line, Brexit anxiety dragged the pound. Upbeat signals launched MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS up with 0.4% gains, its highest recorded performance since April. Japan’s Nikkei […]
Swiss drugmaker Roche has been approved by US antitrust to buy gene therapy specialist Spark Therapeutics in a $4.3 billion deal. This move allows Roche to advance its push in treating rare diseases like Hemophilia A. The Federal Trade Commission stated that it has approved the deal, without requiring Roche asset sales that will assure […]
Portugal unveils draft budget projecting its first surplus in decades Portugal’s government unveiled its draft 2020 budget on Tuesday, projecting the country’s first fiscal surplus in 45 years of democracy as solid growth and a promising gentle tax reduction for small firms and a strong one on bullfighting events. “It is the first budget delivered […]
Japan Display Inc is in negotiations with Ichigo Asset Management to receive 90 billion yen ($830 million) in financial support, according to a source. The company released a statement wherein it disclosed that it was in talks with Ichigo regarding investment, as well as a basic agreement on fund procurement. The company however said that […]
Australian shares heavily suffered on Thursday as one of the country’s top lender Westpac Banking Crop shed 1% loss sparking investors rage over money laundering anomalies. The S&P/ASX 200 index ended its session with 0.7% setback, equivalent to 43.8 points at 6,708.8 as the alpha four banks all declined ranging from 0.7% to 1.3%. Westpac […]
After its December meeting on Wednesday, the Federal Reserve said it would keep interest rates at the current level, marking an end to the series of rate cuts that aided economy and markets amid recession fears brought by trade disputes along with other uncertainties. Fed’s policymakers unanimously voted to keep rates steady and blinking between […]
Big Tech companies like Google and Alibaba could be compelled to share with banks and financial technology firms data related to financial services customers. This cam after the Financial Stability Board (FSB) called for “vigilant monitoring” of Big Tech’s shift to financial services. The FSB released a report on the matter on Sunday. The measure […]
China’s coal imports fell 19% in November compared to the previous month as import rules at ports tighten, subduing shipments near the end of the year. China leads the world’s top coal importers, bringing in more than 20 million tonnes of coal each month. In November, China imported 20.78 million tonnes of the fuel, according […]
The Finance Minister said on Sunday that France will challenge the U.S. tariff threat by taking it to the World Trade Organization. The tariff was threatened to be imposed over champagne and other French products as announced by President Donald Trump. “We are ready to take this to an international court, notably the WTO because […]
U.S. Dollar holds steady as traders await job report The U.S. Dollar held steady on Friday in Asia as traders awaited the release of the latest U.S. job report due at 8:30 AM ET (13:30 GMT) The U.S. Dollar Index that tracks the Greenback was unchanged at 97.380 by 1:30 AM ET (05:30 GMT). Analysts […]
TOKYO- Japanese shares hiked up on Friday following government’s approval of 26 trillion yen stimulus package set to enforce growth and arm the economy against risks brought by overseas slowdown. At 0151 GMT, the Nikkei index inched higher with 0.32% gains to 23,375.02. Gains in financial and industrial sector heavily contributed to the said activity […]
TOKYO- Japan’s benchmark Nikkei found its momentum on Thursday brought by gains in steelmaking sector. Such followed after US President Donald Trump’s comments which encouraged market optimism on Sino-US trade talks. The Nikkei 225 index acquired 0.89% gains to 23,346.05, rallying above the 25-day moving average of 23,275. The broader Topix swiped in 0.5% to […]
Japan’s parliament approves a trade pact with the U.S. Japan’s parliament has approved a trade pact with the U.S. which would open the country’s markets to American beef and other agricultural products. The U.S. has been pressing for the agreement to come into force by January 1; a way that could help Trump land votes […]
North Korea’s foreign ministry reminded the United States that its deadline to change its “hostile policies” is approaching near, adding that it was up to Washington to decide what kind of “Christmas gift” it wanted, according to a statement by the state media. In a report by state news agency KCNA, North Korea’s vice minister […]
Beijing’s top priority in phase one of the trade deal with the US is to roll back tariffs on Chinese imports amid doubts of actualizing phase one of the deal in the 17-month trade war. “Sources with direct knowledge of the trade talks told the Global Times on Saturday that the US must remove existing […]
DUBAI-Saudi Arabia’s Tadawul is set to impose 15% equity index cap aimed at resolving potential concerns over weighting oil giant Saudi Aramco when it lists on the exchange. Dubai-owned company Aramco is posed to register 1.5% of its shares this month in a pact expected to raise more than $25 billion and will surpass Chinese […]
Yes Bank boosts target capital to $2 billion after receiving pledges from new investors Yes Bank Ltd. boosted its target for a capital raising to $2 billion after commitments from new investors. The company, which is India’s fourth-largest private lender, has been caught in the country’s deepening banking crisis. Yes Bank said at a meeting […]
Japan’s October household spending expected to fall after sales tax hike Japan’s October household spending is expected to fall in record pace for about 11/2 years after a hike in sales tax, according to economists’s poll on Friday. Household spending will also likely fall 3.0% which would be its fastest pace of decline since May […]
South Korea and Japan seem to give each other an early Christmas present as both countries have agreed to hold trade talks in December, the trade ministry of South Korea confirmed on Friday. One of the issues that will be addressed on the slated talks will be about Japan’s tighter rules on the exports of […]
Japan’s retail sales posted its hardest fall since 2015 as sales tax hike forced consumers to cut spending, domestic demand went in limbo. After the government of Japan increased that nationwide sales tax to 10% from a previous 8% rate on Oct. 1, retail sales dropped 7.1% in the same month from the previous year. […]
Most Southeast Asian stocks soared on Wednesday with the Philippines acquiring the highest gains after US President Donald Trump stated that Washington and Beijing were close to settling the “phase one” of the trade pact. Trump said on Tuesday that Washington was close to finalizing the deal aimed at fixing the 16-month long trade truce […]
China’s and US’ high-level trade negotiators held a phone call on early Tuesday as the two parties aim to reach a preliminary “phase one” of the trade deal, according to China’s Commerce Ministry. The phone call between the United States’ Trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin and China’s Vice Premier Liu He […]
Oil prices dropped from a two-month high on Friday due to uncertainty on the demands of oil futures. The market remains anxious of the prospect of a US-China trade deal and of the global economy. These uncertainties are enough for major producers to likely extend production cuts. In the previous session of discussing the possibility […]
Cannabis stocks soar as U.S. House committee clears bill on federal weed legalization Marijuana company shares soared on Thursday after a U.S. congressional committee cleared a legislation to decriminalize cannabis. This moves the bill a step closer to being approved by the Democratic-controlled House of Representatives. The bill, which was passed 24 to 10 in […]
New Zealand broadens powers to block foreign investment on security grounds New Zealand said on Tuesday that it would widen government powers to block foreign investment on national security grounds and ramp up oversight of strategically important industries already subject to screening. The planned legislation would allow the government to intervene in investments not usually […]
Oil prices inched higher on Monday, following steady gains from previous week as investors await further news on the trade talks between US and China. Concerns over increasing oil supplies, possibly developing into a supply glut, were shrugged. Brent crude futures was unchanged from previous session, at $63.30 a barrel at 0512 GMT. The contract […]
Yuan climbs as China’s central bank cuts key liquidity rate The Chinese Yuan inched up on Monday in Asia after the People’s Bank of China (PBOC) had cut a key liquidity rate for the first time since 2015. The major USD/CNY pair climbed up by 0.1% to 7.0112 by 11:46 PM ET (03:46 GMT). The […]
Alibaba kicked off its retail campaign for its secondary listing in Hong Kong for $13 Billion. Chairman Daniel Zhang said that Hong Kong’s “future is bright” despite recession and escalating protests in the city. The e-commerce giant said that the listing would be fully paperless and electronic as a representation of its environmental standards. Investment […]
Nov 14- Foreign investors were recorded to have bought Japanese stocks for five consecutive weeks last week. This was in light of the possibility of United States and China coming up with an interim trade deal that brought optimism. Investors purchased a 578.75 billion worth of Japanese stocks which include cash equities and futures as […]
Tencent shares slump down 2.7% after below-than-expected earnings Shares of Tencent Holdings went down 2.7% on Thursday after the company posted earnings that were below analysts’ estimates. The Hong Kong-listed index heavyweight’s net income also plunged 13% in the third quarter. The lowered profit was blamed on global economic turndown, tricky political consideration, and high […]
Oil dips as prospects dim for U.S.-China trade deal Oil prices dipped on Wednesday as prospects for a trade deal between Washington and Beijing dimmed, weighing on the outlook for the global economy and energy demand. U.S. President Donald Trump said on Wednesday that the two countries were close to finalizing a trade deal but […]
Despite constitutional power, Queen Mother remains mum about Brexit While Queen Mother had stayed mum about the whole Brexit cacophony, she said yes to PM Johnson’s request to suspend parliament. However, the Queen also adopted the House of Commons’ decision to not go further unless a deal be reached. What this means, as a head […]
Political Forecast: Independent groups fear Brexit could cause paramilitary attacks on Northern Ireland Brexit is seen as a threat by independent groups to overall peace and order in Northern Ireland. This, the parties concur is owed to the lack of a “devolved” government. The fear is not baseless, let alone, ill-conceived given that in 1998, […]
BEIJING- China and United States made agreement in the past two weeks aimed at defusing the tariffs imposed during their months-long trade truce in different phases, Chinese commerce ministry disclosed on Thursday. Both countries must pull out the implementation of tariffs on each other’s goods in order to come up with the possibility of “phase […]
European shares soar as financials increase European shares jumped higher last Wednesday brought by financial stocks as investors parsed through multiple earnings data and progress on Sino-US trade talks eased financial market anxiety. Societe Generale tallied a record of 3.5%. This followed after its statement of setting aside three-quarters of the cash meant for delivering […]
The launch of the Chinese digital currency in the financial markets will create a ‘horse race’ as described by an official of the central bank of China. Commercial banks and other financial institutions will go neck-and-neck in providing the best services using the new form of money. China is poised to be the very first […]
Asian shares hit six-month high record last Tuesday kicking their July record down. Such followed after hopes that Washington will pull out imposed tariffs on Chinese imports. MSCI’s widest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS acquired 0.5% heavily enforced by gains in Chinese shares. Chinese shares CSI300 soared at 1.3%, completely outperforming its previous […]
Santander (SAN.MC) announced on Monday to have taken a $453 Million (350 million pound) stake in Ebury in an aim to boost growth through a digital strategy. Ebury is a U.K.-based trade and Forex facilitator for smaller companies. The company operates in 19 countries and 140 currencies. Santander announced it would be acquiring 50.1% of […]
The central bank of China cut the interest rate on its medium-term lending facility (MLF) on Tuesday. This is the first MLF rate cut in three years imposed by policymakers as a way to beef up the economy as global economic growth slows down. Interest rate cuts were seen by some economists as a good […]
Dimmed prospects forces Samsung to shut down U.S. CPU research division Samsung Electronics Co Ltd said on Tuesday that it will be shutting down a CPU division in one of its U.S.-based facilities. The move was made after analysts forecasted dimmed prospects for the tech giant’s Exynos mobile chips. The Exynos-branded processors, which are found […]
Rubio to introduce bill to prevent U.S. pensions from investing in Chinese stocks Republican senator Marco Rubio said on Monday that he has plans to introduce legislation to block U.S. government pension funds from investing in Chinese stocks following a fund delayed a decision about tracking an index provided by MSCI Inc. Rubio and a […]
Vietnam imposes duties on Chinese and South Korean steelmakers Vietnam had imposed five-year tariffs on Chinese and South Korean color-coated steel products after domestic producers said unfair pricing from overseas competitors forced them to shut down production lines. According to Vietnam’s Ministry of Industry and Trade, anti-dumping duties of 2.53% to 34.27% are being applied […]
Intel files antitrust case against SoftBank-backed firm over patent practices Chipmaker Intel Corp has filed an antitrust lawsuit against an investment company backed by SoftBank Group Corp who allegedly stockpiled patents to hold up technology companies with numerous lawsuits. The complaint filed late Monday in the U.S. District Court for the Northern District of California […]
Harley-Davidson profit drops 24% as U.S. demand weakens Harley-Davidson Inc (HOG) reported a 24% drop in quarterly profit on Tuesday as it was hit by a slide in U.S. sales and high costs from European tariffs. The company said its net income fell from $ 113.9 million to $86.6 million in the third quarter. Revenue […]
Gold prices inch down as traders await Brexit development Gold prices inched down on Monday in Asia as traders awaited more clarity on Brexit developments. British lawmakers voted on the weekend to delay a decision on UK Prime Minister Boris Johnson’s Brexit deal, forcing him to request a third postponement of Britain’s departure from the […]
Bank Indonesia may cut benchmark rate for fourth time A small majority of economists expect Bank Indonesia (BI) to cut its benchmark rate for the fourth straight month at its meeting this week to support the economy. 18 out of 30 analysts in a poll expected BI to trim the 7-day reverse repurchase rate by […]
Brexit deal likely to be reached by October 31; Irish PM says Irish Prime Minister Leo Varadkar said on Thursday that he believed a Brexit deal was likely to be reached on October 31. The Prime Ministers of the U.K and Ireland released a joint statement saying that they saw a potential pathway to a […]
Kroger to lay off store employees amid improvement attempts Kroger Co. (KR.N) is considering to cut jobs of several store employees holding middle management roles amidst the supermarket chain’s push to improve delivery and in-store technology. “As part of ongoing talent management, many store operating divisions are evaluating middle management roles and team structures with […]
Saudi private sector employment growth at 18-month high Growth in Saudi Arabia’s non-oil private sector increased in September at the fastest rate for three months. According to a survey showed on Thursday, an increase in output and employment growth reached an 18-month high. The seasonally adjusted IHS Markit Saudi Arabia PMI rose from August’s 57.0 […]
Sholz claims Germany can counter an economic crisis German Finance Minister Olaf Scholz said on Wednesday that Europe’s largest economy would be able to counter an economic crisis if there one. “We are all prepared because we have decent financial resources so if there is an economic crisis, we can take countermeasures but at the […]
Turkish unemployment expected to rise 12.9% in 2019 Turkey’s unemployment rate is expected to rise from last year’s 11.0% to 12.9% in 2019. However, Finance Minister Berat Albayrak said that they expect it to fall 11.8% in 2020. On Monday, he added that two-thirds of employment losses in the year were in the construction sector. […]
China’s manufacturing may contract for its fifth month straight China’s factory activity is expected to have contracted for a fifth straight month in September, further adding to the country’s economic woes as the U.S.-China trade wars escalate. The official Purchasing Managers’ Index (PMI) for September is expected to remain flat at 49.5 from August according […]
Depositors panic over RBI’s takeover of major co-operative bank The Reserve Bank of India’s (RBI) move to take charge of one of the country’s top co-operative banks has left thousands of depositors in the lurch. In effect, it had sparked renewed concerns regarding the health of India’s troubled banking sector. Depositors of the Punjab and […]
Bitcoin Climbs as Intercontinental Exchange Debuts Future Contracts Bitcoin prices climbed in Asia as Bakkt’s much anticipated Bitcoin futures trading has officially launched on the Intercontinental Exchange (ICE). Bakkt, the Bitcoin futures and digital assets platform, is offering a daily contract as well as a 30-day future which will be products of ICE, operator of […]
UK PM Johnson warns no Brexit breakthrough in New York British Prime Minister Boris Johnson cautioned that there would be no Brexit breakthrough at talks with European leaders in New York as gaps remained though also saying significant progress had been made towards striking a deal. Hopes of a breakthrough were stoked last week when […]
Bank of Japan hopes new phrase will keep bullish yen at bay By adding vague new language to its latest policy statement, the Bank of Japan is hoping to keep unwanted sharp gains in the Yen in check, without having to its depleted policy tool-kit or tying its hands on monetary action. In a statement […]
Britain will investigate national security impacts of the purchase of defense company Cobham by U.S. private equity firm Advent International, which would potentially delay or block the $5 billion deal. Business minister Andrea Leadsom’s move on Wednesday is not unusual where there are potential security concerns and follows British government intervention in the pending acquisition […]
Britain hopes for trade deal with Australia after Brexit Britain’s Trade Minister Liz Truss said on Wednesday she expects to complete a wide-ranging trade deal with Australia within months of exiting the European Union. In efforts to reduce the economic impact of Brexit, the government is looking to line up a series of trade deals […]
The Czech centre-left ruling coalition agreed on Friday to a public sector wage hike that will increase government spending after economists warned that budget revenue projections may come short. The pay decision, which covers around 290,000 state employees, will allow the government to complete its draft budget for next year. The wage increase was agreed […]
Treasury Secretary Steven Mnuchin floated the idea of the US Government issuing an “ultra-long” government bond next year should the demand arise. Mnuchin has been talking for the past 2 years about the possibility of expanding the Treasury’s long-term borrowing capabilities, surpassing the horizon of the 30-year bond. The Treasury Secretary said he anticipated that […]
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