Data from the Comex exchange indicate a decrease in the cost of copper. By 8 am Moscow time, the price of a pound of metal dropped to $4.7105, or 0.75% compared to its value at the close of trading the day before. Yesterday trading on the London Stock Exchange ended with a rise in prices […]
As of 11.43 am Moscow time, the DAX and САС 40 indices rose by 1.36% and 1.72%, respectively. The FTSE index rose 0.87%. The main European index Stoxx Europe 600 showed an increase of 1.1%. Food delivery operators have become leaders in terms of share price growth among the companies included in this index. The […]
John Williams, who holds the post of head of the New York Fed, said that at the next meeting of the FOMC, a decision could be made to raise the rate by 50 bp. At the same time, he said that Central Banks worldwide, when making decisions to change their policies, should consider their possible […]
Serhiy Fursa, a well-known financier in Ukraine, assessed the consequences of the laws adopted by the government to ensure the functioning of the country’s economy during the military operation of the Russian Federation. In his opinion, implementing these laws will lead to a monthly budget deficit of $4 billion. If soon the measures taken can […]
Electric vehicle company NIO ended the 4th quarter of 2021 with a net loss of 2.1 billion yuan, 1.6 times more than a year ago. At the same time, the amount of revenue received showed an increase of 49%. It amounted to 9.9 billion yuan. In the reporting quarter, NIO sold 25,034 electric vehicles, up […]
Oil quotes demonstrate insignificant dynamics in different directions. As of 8:07 am Moscow time, the price of a barrel of Brent oil rose by 6 cents, or 0.05%, to $119.90. At the same time, the price of a barrel of WTI oil fell by 7 cents or 0.06% to $112.27. As a result of trading […]
According to media reports, the Securities and Exchange Commission of Thailand announced the imposition of a ban on payments in cryptocurrency. The message emphasizes that cryptocurrencies in the country are not a means of payment. Thus, by imposing a ban on such transactions, the regulator seeks to protect Thailand’s financial system and economy, ensuring their […]
The National Bureau of Statistics of Great Britain reported on the acceleration of inflation in the country. As a result of February, it rose by 0.7 percentage points compared to the January level of the indicator and amounted to 6.2% year on year. Such a high growth rate in consumer prices has not been observed […]
The annual report released by China Telecom, a Chinese state-owned telecommunications company, pointed to an increase in its financial performance. Thus, a net profit of 25.95 billion yuan rose by 24.5% in twelve months. The reporting period ended with revenue of 439.6 billion yuan, up 11.7% year-on-year. The company also notes a significant increase in […]
The statement of the head of the Federal Reserve System, Jerome Powell, that the American financial regulator could raise the key rate more sharply than usual caused the yield of European government bonds to rise to new record levels. The highest since October 2018 level of 1.68% reached the yield of ten-year securities of the […]
In the car market in Japan, there is a significant decline in demand for used cars. Importers refuse orders for the purchase of Japanese cars. Their main buyers have traditionally been Russians. However, due to the growth of the exchange rate, it became unprofitable to purchase Japanese used cars. In addition, the prices for such […]
Implementing its plans to reduce its dependence on energy resources from Russia, Germany has concluded an agreement with Qatar on the supply of liquefied natural gas for the long term. The volume of imported gas from the Russian Federation in the total indicator of imports to Germany during the year exceeds 50%. According to the […]
A large Turkish fast-food chain Chitir Chicken has announced that it is ready to completely replace McDonald’s that left Russia. The Izvestiya newspaper has learned that Turkish business owners are already in negotiations with shopping malls in Russia. Bulat Shakirov, who heads the Union of Russian Shopping Centers, said that the successful completion of negotiations […]
Jeffrey Gundlach, head of DoubleLine Capital, expressed his opinion about the situation in the US economy. He assumes that this year it will show growth. However, a recession is possible in 2023. Jeffrey Gundlach believes that the US Federal Reserve will be to blame for this, as its decisions are late compared to rapidly rising […]
Oil quotes are rising. As of 7.56 Moscow time, a barrel of Brent oil has risen in price to $108 99 cents, or 2.2% compared to the closing price of the trading session the day before. The cost of a barrel of WTI oil rose to $105.69, or 2.6%. Investors are still concerned about the […]
Brazil held a regular meeting of the Central Bank. Its participants assessed the situation in the country’s economy. All members of the bank’s board agreed on the need to raise the key rate. It was increased by 1 p.p. to the level of 11.75%. Analysts who took part in the survey expected just such a […]
The Ministry of Finance of Japan announced an increase in export deliveries in February to 7.2 trillion yen, 19.1% more than a year ago. In January, Japanese exports grew by only 9.6%. Despite the high February figure, it turned out to be lower than the forecast of the polled analysts. They expected an increase in […]
On Tuesday, there was a significant decline in oil quotes amid growing fears about a possible reduction in demand in China. On Wednesday morning, oil prices show growth. By 8:26 am Moscow time, the price of a barrel of Brent oil rose by 86 cents, or 0.86%, to $100.77. A barrel of WTI oil also […]
The IMF review notes that the events around Ukraine and the sanctions imposed against the Russian Federation will lead to a deep recession in the European economy. The rise in fuel prices will continue. Groceries will rise in price. Eastern European financial systems may face high risks. In addition, there will be a problem associated […]
During morning trading on Monday, there is a decline in oil prices. At 08:07 Moscow time, the price of a barrel of Brent oil was $110.67, which is 1.78% lower than its price at the close of the trading session on Friday. WTI oil is also getting cheaper. The price of a barrel of this […]
The Bank of Russia has published the results of a survey of analysts about the state of the Russian economy in 2022. The majority of respondents expect a significant reduction of the GDP. The downturn in the Russian economy may reach 8%. Thus, inflation will rise to 20%. In the next two years, economic growth […]
Yara, the world’s largest supplier of mineral fertilizers from Norway, announced the cessation of purchases from companies from the Russian Federation in connection with additional sanctions that the European Union introduced on Wednesday this week. The company cannot now make purchases from those enterprises in Russia that are related to persons who find themselves under […]
Suheil al-Mazrui, head of the UAE Energy Ministry, said that the country’s oil producers intend to meet the parameters for oil production provided for in the OPEC+ deal. As a result of the February meeting, the alliance agreed to maintain the terms of the current agreement. In March, OPEC+ countries will increase the production of […]
Data from the Comex exchange indicate a decline in the price of gold. By 7.54 Moscow time, its troy ounce fell by $3.20, or 0.16%. It was trading at a price of 1985 dollars. At the same time, silver continued to rise in price. Its price rose to 25 dollars 87 cents or 0.21%. On […]
The British oil and gas company Cadogan Petroleum, which owns assets in Western Ukraine, has decided to suspend production amid hostilities in the country due to the war unleashed by the Russian Federation. Under these conditions, it cannot provide safe working conditions for its employees. The company, listed on the London Stock Exchange, said it […]
Professor of the Russian University of Economics Plekhanova Yulia Fenogenova said that this month the ruble will not strengthen against the background of tough anti-Russian sanctions and the aggravation of the geopolitical situation. However, in the medium term, we can strengthen the country’s currency. Three main factors will contribute to this. Gas and oil prices […]
Semiconductor companies are worried about a problem they may face in the near future. It’s about a shortage of noble gases, which are necessary in the production of chips. The main supplier of neon was Ukraine. The termination of deliveries from this country will stop the process of recovery of the semiconductor industry. Manufacturers expect […]
Inflation in Turkey continues to grow at an accelerated pace. The country’s statistics agency said consumer prices rose 54.4% in February from a year ago. A month earlier, inflation in the country was at the level of 48.7%. Analysts predicted its growth in February to 53%. The leaders in terms of price growth were transport […]
The Dutch financial group ING expects a more significant increase in the price of Brent oil than before, due to the ongoing shortage of energy resources in global markets and the war unleashed by Russia against Ukraine. And although sanctions against the Russian energy sector have not yet been introduced, oil purchases from the Russian […]
Southern South Korean authorities have decided on sanctions that clash with Russia after sweeping the proliferation with the USA. The country is losing work with a number of banks in the RF, such as Sberbank, VEB, Promsvyazbank and others, and subsidiaries of these financial institutions. The South Korean government took advantage of the fact that […]
In the first month of the current year, the UK government budget surplus reached 2.9 billion pounds. In the same month of the previous year, there was a budget deficit of 2.5 billion pounds. The Statistical Office, which published the data, explained that the positive balance of the January budget was due to increased tax […]
The Russian Ministry of Economy has updated its previously published prognosis for 2022 for the average cost of a Urals oil barrel. It was raised from $15.50 to $77.70. Experts note that an increase in the price of 1 dollar generates additional income. According to the results of 12 months, it can reach 150 billion […]
Now lithium, used for the American Tesla production of electric vehicles, will be supplied by the Australian developer of projects for the production of high-quality lithium Liontown Resources. The companies entered into a corresponding agreement for five years. According to MarketWatch, lithium will be supplied to Tesla in 2024. The supply agreement terms of the […]
The results of the Tankan survey showed that the mood of Japanese manufacturers worsened in February. The degree of their optimism about the national economic situation decreased in the next three months. The index, which assesses the confidence of manufacturers, fell this month by 11 points compared with the January value of the indicator. It […]
Asia Pacific stocks dipped on Wednesday as investors anticipated the latest minutes and other data from the U.S. Federal Reserve meeting. Investors are also considering the risk that central banks will tighten monetary policies to tame inflation. In Japan, the Nikkei 225 plunged 1.07% by 9:36 PM ET (2:36 AM GMT) as markets reopened after […]
Oil prices edged lower on Tuesday, reversing the previous session’s gains amid talks that the U.S., Japan, and India will release crude reserves to ease prices despite the threat of weakening demand as COVID cases picked up in Europe. The U.S. Department of Energy is anticipated to announce a mortgage of oil from the Strategic […]
The dollar declined on Monday morning in Asia. The latest inflation numbers mostly lifted the safe-haven currency during last week’s trading sessions. Investors’ prospects of an earlier-than-expected interest rate hike from the U.S. Federal Reserve have also been fuelled by strong inflation figures. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.13% […]
Stocks in the Asia Pacific were mostly down on Wednesday as investors mulled over Chinese inflation data showing a buildup of inflationary pressure in the global economy. Investors are now awaiting further data from the U.S. Hong Kong’s Hang Seng Index fell 0.50%, while the Australian ASX 200 crept up 0.08%. Japan’s Nikkei 225 shed […]
Oil prices edged up on Wednesday, extending the previous session’s strong gains after industry data showed an unexpected decline in U.S. crude stocks last week. U.S. West Texas Intermediate crude futures picked up 23 cents, or 0.3%, to $84.38 per barrel at 0132 GMT. The benchmark contract was up 2.7% on Tuesday. Brent crude futures […]
Gold fell on Tuesday in Asia but stayed near a two-month high reached during the previous session. The yellow metal’s losses were capped by a weakened dollar, as well as the insistence of key central banks that inflation will be temporary and that increases in interest rates would not be immediately required. Gold futures edged […]
Gold went up on Monday in Asia, reaching a two-month high as a weakening dollar gave it a boost. Gold futures rose 0.18% to $1,820.10 by 10:36 PM ET (3:36 AM GMT). The yellow metal’s futures hovered above the $1,800-mark after climbing to their highest level since September 7 earlier in the session. The dollar, […]
The dollar fell on Friday morning in Asia but was on track for its two-straight weeks of gains. Investors now expect the latest United States’ jobs report for hints on the Federal Reserve’s interest rate hike schedule. The U.S. Dollar Index Futures that measures the greenback against other major currencies declined 0.02% to 94.323 by 12:57 AM […]
Taiwanese President Tsai Ing-wen said Taiwan would try to gather support from economic leaders to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) pact during the Asia-Pacific group APEC meeting next week. Economic leaders from the United States, China, and Japan will meet virtually to talk about their plans on recovering from the […]
Japan recorded a decline in its factory output for three consecutive months in September. The loss was attributed to the global supply shortage’s impact on the auto industry. The development was seen to result in an economic contraction in the third quarter. The official data released on Friday showed that factory production dropped 5.4% in […]
China’s President Xi Jinping will attend the Group of 20 (G20) leaders’ summit in Rome on October 30-31 via video link, China’s foreign ministry notified on Friday. The foreign ministry’s notice stated that Xi will not be making a speech at the summit. The Chinese president has not left China since early 2020 when the […]
South Korea announced on Friday that it will lift all operating hour restrictions on restaurants and cafes and roll out its first vaccine passport for high-risk venues, such as gyms, saunas, and bars, as the country tried to “live with COVID-19.” The first phase will take effect on Monday and will last for a month, […]
Oil prices plunged for the second day straight after climbing to a 7-year high during the week’s start. The black liquid declined following an unexpected buildup in the United States’ crude inventory. Brent crude futures plummeted 2.23% to $82 by 12:01 AM ET (4:01 AM GMT) even as West Texas Intermediate (WTI) futures also took […]
New Zealand reported an improvement in its government finances on Tuesday. The development was owed to the country’s quick economic rebound. However, a new COVID-19 outbreak poses a risk on its recovery momentum. The New Zealand Treasury’s budget deficit stood at NZ$4.6 billion ($3.2 billion) in June. This was lower than a shortfall of NZ$15.1 […]
The dollar continued its gains on Tuesday morning in Asia, while the yen touched a new three-year low. Investors’ expectation that soaring energy costs will increase Japan’s demands for the dollar contributed to the yen’s decline. The dollar was also lifted by hopes that the United States will raise interest rates before its peers. The U.S. […]
The Bank of Korea held interest rates steady on Tuesday, taking a breather after its first hike in almost three years in August. However, the bank noted that further tightening could come as early as November to tackle rising inflation and household debt. The South Korean central bank kept benchmark interest rates flat at 0.75% […]
Oil fell on Tuesday in Asia, its first decline in four days. The commodity took a breather following weeks of gains brought about by a rebound in global demand, with the gains contributing to energy shortages in economies from Europe to Asia, according to some investors. Brent oil futures slipped 0.12% to $83.55 by 10:56 […]
Investors all over are caught in fears of stagflation which had caused inertia in global shares on Monday as bet that major banks tighten monetary policy encouraged bond yields and propped up the dollar to a near three-year peak versus the Japanese Yen. Brent oil prices went on their bullish run to reach a stop […]
Japanese household’s inflation expectations jumped in the third quarter, based on a survey released on Monday. According to a quarterly central bank poll, the percentage of Japanese families expecting prices to rise in a year’s time rose to 68.2% in September. This was higher than June’s 66.8%. The percentage of families expecting price increases in […]
The global spread of the more infectious Delta COVID-19 variant could possibly disrupt Singapore’s economic recovery in the third quarter. The situation could potentially force the central bank to stay on hold with its policy. Majority of the economists polled by Reuters expected the Monetary Authority of Singapore to maintain its policy setting on […]
Gold edged lower on Friday in Asia but remained steady as investors held back from making big bets ahead of the latest U.S. jobs report. Gold futures dipped 0.03% to $1,758.60 by 12:22 AM ET (4:22 AM GMT), down about 0.3% so far in the week. The dollar, typically moving inversely to gold, moved up […]
Myanmar’s military-appointed authorities are making developments in solving the country’s currency problem, with the kyat stabilizing and current measures keeping prices under control. Sixty percent of the kyat’s value was lost in September. It resulted in high food and gasoline costs, adding to a lot of issues faced by a weak economy that has been […]
The Reserve Bank of New Zealand (RBNZ) raised its interest rate for the first time since July 2014 on Wednesday. The central bank also hinted at more policy tightening as it seeks to contain inflationary pressures and calm the country’s surging property market. The RBNZ increased the cash rate to 0.50%, as predicted by all […]
The dollar continued its gains on Wednesday morning in Asia and hovered near its highs this year. Investors’ focus shifted to New Zealand’s move in raising its interest rate on Wednesday and to the latest United States’ jobs report due on Friday. The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase […]
U.S. President Joe Biden’s national security adviser Jake Sullivan will talk with China’s top diplomat Yang Jiechi in Switzerland on Wednesday. The two party’s meeting upholds a pledge by the two superpowers to boost communication amid a deepening strategic rivalry. The meeting, to be held in Zurich, comes at a time of increased tensions between […]
The dollar declined on Monday morning in Asia, but hovered near its peaks in recent weeks. The re-emergence of market concerns on China Evergrande Group’s debt crisis and the expected United States’ jobs report limited the safe-haven currency’s loss. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.04% lower to 94.052 by […]
China’s new home prices grew at the weakest rate since March 2020 in September. The decline was due to a weak property market as a crackdown on speculation, including house purchase limits, persists. New home prices in 100 cities surged 0.14% in September, according to independent real estate research firm China Index Academy. It followed […]
Asia’s manufacturing activity remained generally sluggish in September. This was attributed to pandemic-driven plant shutdowns and China’s weak economic growth’s effect on the region. The official Purchasing Manager’s Index (PMI) showed an unexpected decline in China’s factory activity, owing to the country’s energy crisis. The private Caixin/Markit Manufacturing PMI showed better figures after a slump […]
Most of Asia’s financial markets performed flatly during their early Wednesday trade. Investors’ enthusiasm was dampened ahead of U.S. inflation figures as mixed inflation data from China weighed on sentiment. Japan’s benchmark index Nikkei plunged 0.25%, while Australia saw a 0.09% decline. South Korea’s KOSPI erased 0.21% even after the country’s gross domestic product recorded […]
Gold dipped on Tuesday trade in Asia, lurking near below the $1,900 mark as investors await more hints later in the week to gauge inflationary pressure. Gold futures dropped 0.03% to $1,898.30 by 12:12 PM ET. The dollar, which usually moves inversely to gold, advanced but remained below the three-week high of 90.627 hit during […]
Asian share markets were seen upbeat during their early Tuesday trade. The series of gains came after an overnight record touched by MSCI’s global gauge of shares, with investors’ focus now on key economic figures due later this week. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.11% higher. The index had tracked its […]
Australia’s job advertisements marked their 12th month of increase in May. The reading stood as the highest since 2008, underscoring strong labor demand that could resist lockdown measures in Victoria and the removal of some government support schemes. After a 4.9% increase in April, job advertisements advanced a total of 7.9% in May. The figure […]
Asia’s factory activity remained robust in May, and the expansion was owed mainly to an ongoing rebound in global demand. However, an increase in costs of raw materials and supply chain bottlenecks heavily dampened the region’s economic outlook. China and South Korea saw a minimal jump in their respective purchasing managers’ index (PMI). The readings […]
On Thursday, world stocks were pinned down while investors patiently waited for data coming from the United States that would hopefully explain inflation. Alongside this, more pressure are seen all over as the scaling back of central banks’ giant stimulus packages are in the cards. European entities are caught in a losing trend with the […]
Cryptocurrencies dipped on Thursday as their bounce momentum decelerated. However, the digital coins did not touch recent lows as investors’ outlook toward the digital assets remained positive, and that they are still capable of bouncing back from the previous week’s decline. Bitcoin lost 4% in Asia to about $37,600. Ether, the second-largest crypto, declined 7.5% […]
Industrial firms in China saw an increase in earnings, but the expansion came at a slower pace in April. This was mainly attributed to surging commodity prices and downbeat consumer goods that heavily weighed on the manufacturing sector’s profitability. Industrial firms’ profits recorded an annualized 57% increase, securing a total of 768.63 billion yuan in […]
On Wednesday, Oil prices had remained steady as it traded in a narrow range that is propped by optimism that the U.S. fuel demand and weak dollar would improved. Only, this comes with the prospect of a return of Iranian oil to markets that effectively puts pressure on prices. At 0839 GMT, Brent climbed 0.2% […]
Asian share markets were seen upbeat on Wednesday, while the dollar hovered near its lowest level this year. This came after the Federal Reserve decided to keep its accommodative policy rates, easing some inflation-related pressures that made investors cautious for days. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.28% increase. Japan’s benchmark […]
Wall Street’s overnight rally had sent Asian share markets to high grounds during their early Tuesday trade. Meanwhile, the dollar was seen near its four-month low as inflation-driven rate hikes dampened investors’ enthusiasm. After U.S. stocks’ minimal earnings, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.81% to a two-week peak. Australian shares jumped […]
Thursday saw the tumbling of China’s main industrial commodities following the government’s announcement that it is stepping up measures to keep prices from soaring further on raw materials which are a threat to undermine the economic recovery of the country. The prices of iron ore and coking coal alongside other steel products like rebar and […]
Global share markets performed turbulently on Thursday. The weak session came after Wall Street recorded a choppy performance, which sent cryptocurrencies to low levels. More so, the U.S. Federal Reserve’s possible changes in policies supported bonds and the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.04%. South Korean shares slipped 0.34%, while […]
The dollar hovered near a six-year trough against the loonie and several European currencies as expectations that U.S. interest rates will stay low undermined the dollar. Investors await consumer price data from Canada and Britain due later in the day to get hints at how fast major economies will rein in their accommodative monetary policy, […]
Oil prices dropped for a second day on Wednesday on the possible return of Iranian supply and as investors sold on speculation that inflation worries might urge the Fed to raise interest rates, limiting economic growth. U.S. West Texas Intermediate crude futures fell 1.1%, or 73 cents, at $64.76 per barrel, after sliding 1.2% on […]
British consumer price inflation in April ballooned to more than double in the previous reading. The bank of England was hopeful that the hike will be temporary as the economy recovers from last year’s coronavirus drag. Based on the official data released by the Office for National Statistics, consumer prices jumped 1.5% in April after […]
The dollar fell on Monday as inflation jitters, worsened by record-high prices in a regional U.S. manufacturing survey supported risk currencies at the dollar’s expense. The 10-year U.S. Treasury yield steadied as investors sought hints regarding the Fed’s monetary policy. The Federal Reserve is set to release the minutes of its meeting on Wednesday, which […]
Asian share markets were mostly upbeat during their early Tuesday trade. This followed after investors gauged the diverging stages of different countries’ economic emergence from the coronavirus crisis. Japan’s benchmark index Nikkei performed 2.14% higher as the country tallied a 5.1% year-on-year contraction in its GDP. South Korean shares hiked 1.14%, while Australian shares advanced […]
The Federal Reserve’s preferred inflation gauge must reach a peak of 2.8% to rattle policymakers in the United States. This expectation was from a Reuters poll, which also suggested that the central bank might retain its current policy rates for three months before implementing any changes. The core personal consumption expenditures (PCE) price index recorded […]
Japan’s household spending posted its sharpest level of increase in 18 months, official data showed on Tuesday. The March reading came after consumer demand staged an impressive rebound from the coronavirus crisis last year. Household spending recorded a 6.2% year-on-year jump in March. The expansion followed a 6.6% decline in February as it surpassed a […]
Factory gate prices in China advanced at their fastest pace in three and a half years in April, official data showed on Tuesday. The acceleration could be attributed to the country’s sustained economic momentum after its economy saw an expansion in the first quarter. The producer price index (PPI) recorded an annualized 18.3% increase from […]
Japan saw a contraction in its services sector activity in April as coronavirus-related measures heavily dragged the country’s businesses. However, the drop came to be the slowest since the pandemic started in 2020. The final au Jibun Bank Japan Services Purchasing Managers’ Index (PMI) recorded a seasonally adjusted reading of 49.5 in April. The figure […]
The dollar lingered below a two-week top on Thursday, consolidating ahead of a key U.S. jobs report that may include hints at a shift in monetary stimulus by the Federal Reserve. The greenback rose from a one-month low over the past week. The dollar index was little changed at 91.316 on Thursday, after climbing to […]
Oil prices dropped on Thursday as U.S. gasoline stockpiles, the world’s biggest oil consumer, climbed for a fifth straight week. Still, a drawdown in crude inventories helped cap losses. Brent crude oil futures were down 0.2%, or 16 cents, at $68.80 per barrel, while U.S. West Texas Intermediate crude futures lost 0.3%, or 20 cents, […]
Asian share markets traded cautiously for four consecutive sessions on Wednesday. This followed after investors’ sentiment was dampened by a tech selloff in Wall Street and rising interest rates in the United States. Holidays in Japan, China, and South Korea restricted shares from plunging, making MSCI’s broadest index of Asia-Pacific shares outside Japan stagnant. Japan’s […]
Oil climbed over 1% on Monday as China’s economic figures and speedy U.S. vaccination rollouts pointed to a strong demand recovery in the world’s two largest economies. However, investors remain wary over worsening COVID-19 infections in India, along with an increase in OPEC+ oil supply. Brent crude increased by 1.2%, or 80 cents, at $67.56 […]
Job advertisements in Australia advanced for 11 consecutive months ended April. The jump, which came to be the strongest in 12 years, underscored labor’s capability to maintain its momentum without the government’s emergency support schemes. Total job advertisements expanded 4.7% in April. The figure came after a 7.8% reading seen in March. 196,612 ads were […]
Asian share markets recorded a subdued performance during their early Monday trade. This followed after China and Japan compressed volumes, with investors also waiting for a set of data showing that the United States is recovering ahead of its peers. After a minimal decline on Friday, MSCI’s broadest index of Asia-Pacific shares outside Japan traded […]
The dollar index fell to a fourth consecutive week of decline on Friday as the U.S. Federal Reserve stuck to maintaining ultra-low interest rates for longer. The dollar index was set to end the week 0.2% lower, bringing its losses to 2.8% in April. The loonie rose to a more than three-year high of C$1.2273 […]
U.S. stocks barely moved on Monday trade ahead of the report of key economic data and a Federal Reserve meeting this week. The Dow futures contract added 20 points or 0.1%. The S&P 500 Futures gained 4 points or 0.1%, lower. The Nasdaq Futures fell 44 points or 0.3%. This week, investors anticipate the corporate […]
Gold was all set to post a third straight weekly gain as the dollar and the U.S. Treasury yields groped for form on Friday’s trade. Gold futures gained 0.17% to $1,785.05. As investors heard the news that President Joe Biden could almost double the tax on capital gains to 39.6% for those earning more than […]
European stocks were upbeat on Thursday’s trade as Wall Street rallied during its previous session. Further gains were capped, however, as the European Central Bank meeting is approaching. Germany’s DAX futures contract was up 0.3%. CAC 40 futures in France added 0.65. The FTSE 100 futures contract in the U.K. climbed 0.5%. In Wall Street, […]
Oil prices dropped for a second day on Wednesday on worries that rising COVID-19 infections in India will lower fuel demand in the world’s third biggest oil importer. Brent crude futures for June lost 0.8%, or 52 cents, at $66.05 per barrel, following a 48-cent decline on Tuesday. U.S. West Texas Intermediate crude futures for […]
As clothing and fuel prices rose, the British consumer price inflation rate moved up to 0.7% in March. The official figures for the recent period were slightly higher than the 0.4% inflation rate in the previous month. The official figures released on Wednesday also showed food prices lower than last year. British inflation is expected […]
Oil prices fell on Monday as a surge in coronavirus cases in India and other countries prompted worries that stricter measures to curb the pandemic will impact economic activity, along with crude demand. Brent crude futures dropped 0.3%, or 23 cents, at $66.54 per barrel, following a 6% gain last week. U.S. oil lost 0.2%, […]
The dollar index was little changed on Thursday as traders balanced bullish data showing U.S. retail sales gained the most in 10 months in March, while U.S. Treasury yields continued their drop. Retail sales rose 9.8% last month, higher than analysts’ expectations for a 5.9% increase. However, the dollar’s strength slid as Treasury yields fell […]
Retail sales in the United States marked their sharpest level of growth in March. The reading, which came as the strongest in ten months, followed after Americans received additional pandemic relief checks from the government. Expedited coronavirus rollouts also supported the jump, increasing expectations for a well-established economic rebound. Data from the Commerce Department showed […]
The dollar dropped to a new four-week low against major peers on Thursday as Treasury yields fell back from last month’s surge. Investors are becoming increasingly convinced that the U.S. Federal Reserve will keep interest rates low for some time. The dollar index fell to 91.559 in Asian trade, its lowest since March 18. It […]
Crude oil prices rose on Wednesday after U.S. oil inventories data fell more than expected and OPEC raised its oil demand outlook. However, fears about a surge in COVID-19 infections and rising supplies capped gains. Brent crude futures gained 0.6%, or 42 cents, at $64.09 per barrel after climbing 39 cents on Tuesday. U.S. West […]
Germany, the largest economy in Europe, showed mixed economic data on Friday with its exports rising in February and its industrial output suffering from another decline as the pandemic drag goes on. The Federal Statistics Office’s data noted a 0.9% increase in seasonally adjusted exports on the month of February, following a 1.6% upwardly revised […]
The dollar stood near more than two-week lows against its peers on Thursday after minutes from the Federal Reserve’s policy meeting showed no new signs of a shift in market direction. The dollar index fell to 92.371 in Asian trade after sliding to as low as 92.134 on Wednesday, its lowest since March 23. The […]
Oil prices dropped on Thursday after official data showed a large build in U.S. gasoline stocks, raising worries about crude demand falling in the United States when global supply is rising. Brent crude fell 0.6%, or 36 cents, at $62.80 per barrel. U.S. oil dropped 0.6%, or 38 cents, at $59.39 per barrel. U.S. crude […]
The S&P 500 and the Dow ended their sessions higher, while Treasury yields salvaged minimal losses. This came after the Federal Reserve’s policy meeting rendered a dovish outlook, with central bank members believing that the country’s economic recovery is still fragile despite signs of progress. The Dow Jones Industrial Average gained 0.05%, while the S&P […]
Oil prices climbed on Tuesday as the dollar’s decline made crude more attractive to traders. Prices recovered from a 4% drop overnight due to the prospect of producers returning over 2 million bpd of supply to the market by July. Brent crude futures rose 1.3%, or 83 cents, at $62.98 per barrel following a 4.2% […]
Asian share markets were seen upbeat on Tuesday as another batch of strong economic figures in the United States heavily fueled investors’ enthusiasm. However, currency and bond markets eased after an upswing recorded by the dollar and U.S. Treasury yields. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.4% increase. Japan’s benchmark […]
The dollar hit a new one-year high against the yen and multi-month peaks against peers. This came as traders bet that massive fiscal stimulus and speedy vaccinations will aid the United States in leading a global pandemic recovery. The dollar index climbed as far as 93.435, its strongest in nearly five months. It rose from […]
The dollar firmed against the euro on Monday as a cautious market mood urged investors to seek safety. A promising U.S. economic recovery and speedy vaccine rollouts also supported the dollar. The euro fell 0.1% to $1.1783 in Asian trade, not far above last week’s low of $1.1762 and right below its 200-day moving average […]
Oil prices dropped over 2% on Monday after news that salvage crews have successfully moved the giant container ship that was stuck in the Suez Canal and has blocked global trade passage for almost a week. Brent oil fell 2.1%, or $1.38, at $63.19 per barrel. U.S. West Texas Intermediate lost 2.4%, or $1.48, at […]
The United States had seen its consumer spending plunged to its sharpest in 10 months. The decline, which was seen in February, followed after large portions of the country’s economy suffered from inactivity and as a second round of stimulus checks for middle- and lower-income households faded. Consumer spending, which covers more than two-thirds of […]
The dollar stood near multi-month highs against majors on Friday, boosted by optimism over upbeat U.S. economic data, COVID-19 vaccine rollouts, and rising Treasury yields. The dollar index traded at 92.769, near a four-month high. The dollar index was on course for a 0.9% weekly rise. The dollar slid to $1.1778 against the euro but […]
Oil prices rose 1% on Friday on rising fears that the blockage in Suez Canal could take weeks to be cleared, which could squeeze refined products and crude supplies. U.S. West Texas Intermediate crude climbed 1.1%, or 65 cents, at $59.21 per barrel after dropping 4.3% on Thursday. Brent crude gained 0.9%, or 54 cents, […]
Oil prices dropped over 2% on Thursday as new coronavirus restrictions raised fears about fuel demand, even as a stranded container ship blocked crude oil carriers in the Suez Canal. Brent crude futures dropped 2.1%, or $1.33, at $63.08 per barrel after gaining 6% overnight. U.S. West Texas Intermediate crude futures lost 2.3%, or $1.40, […]
Based on the new analysis of its U.S. trial, AstraZeneca recorded a 76% efficacy rate, slightly lower in the previous efficacy outing reported this week which drew criticisms for using outdated data. Monday’s AstraZeneca data reported a 79% efficacy rate but excluded more recent COVID-19 cases, a case that saw U.S. health officials in outrage. […]
European stock markets started flat on Wednesday trade as global economic recovery doubts weighed on markets. Germany’s DAX futures fell 0.1%. France’s CAC 40 futures dipped 0.4%. Joining the gloomy performance was the FTSE 100 futures with a 0.5% decline. The resurging number of coronavirus cases worldwide as highly contagious variants of the virus spread. […]
Japan’s manufacturing activity greatly accelerated in March, a private survey showed on Wednesday. The expansion seen in the sector was mainly from the prospect of a global economic rebound as more and more countries roll out coronavirus vaccines. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) rendered a seasonally adjusted 5.2 reading […]
Oil prices dropped 1% on Tuesday on worries that fresh pandemic restrictions and slow vaccine rollouts in Europe will offset fuel demand recovery and oil supply. U.S. West Texas Intermediate crude futures for May contract lost 1%, or 62 cents, at $60.94 per barrel. The April contract expired on Monday, up 13 cents from Friday, […]
With the dollar keeping afloat and ten-year yields remaining near their highest level in over one year, gold prices fell in Asian trade on Monday. Gold futures fell 0.09% at $1,740.15 while the dollar improved on Monday. Two, five, and seven-year debt auctions in the U.S. treasury later in the week are anticipated among investors. […]
Oil prices fell on Monday, losing nearly 1% as fears about a decline in fuel demand amid new European lockdowns dominated markets. Brent crude dropped 0.9%, or 60 cents, at $63.93 per barrel, while U.S. oil lost 1.1%, or 68 cents, at $60.74 per barrel. Both benchmarks slid by over 6% last week. Germany plans […]
Toyota Motor, Nissan Motor, and Honda Motor had seen their shares drop on Monday. The decline monitored by Japan’s three biggest automakers was mainly from a fire at one of Renesas Electronics semiconductor plant, raising concerns that this might lead to a global shortage of automotive chips. Shares of Japan’s big three carmakers traded 2% […]
Apple Inc reported on Wednesday it allotted $2.8 billion for its projects that aim to eliminate an average of 921,000 metric tons of carbon emissions each year. The said amount of fund raised was raised from green bonds, a category of fixed-income securities that raise capital for projects with environmental benefits, including low-carbon transport. Being […]
Asian share markets declined from high grounds on Wednesday. This came after Wall Street saw a subdued overnight session on investors’ anticipation that the U.S. Federal Reserve will signal faster-than-expected policy normalization. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% decline, with South Korea’s Kospi and Australia’s S&P/ASX 200 performing the weakest. […]
Oil prices climbed on Monday, with Brent on course to hit $70 per barrel as Chinese economic data sharply grew at the beginning of 2021, supporting fuel demand outlook. Brent crude futures for May contract rose 0.7%, or 47 cents, at $69.69 per barrel. U.S. West Texas Intermediate crude for April delivery gained 0.8%, or […]
The dollar climbed on Wednesday, gaining back some of its overnight losses as U.S. yields hit support after dropping from one-year highs. Risk currencies like the Aussie and the kiwi fell after acquiring large gains on Tuesday. The euro fell 0.2% to $1.18815 after recovering from a 3 ½-month low of $1.18355 on Tuesday. Against […]
Asian share markets were seen subdued on Tuesday, performing weakly as an increase in U.S. bond yields dragged tech-related shares and affected company valuations in China and South Korea. Moreover, investors’ sentiment was dampened by inflation fears as the United States prepares to legislate a $1.9 trillion stimulus package. MSCI’s broadest index of Asia-Pacific shares […]
European stock markets were mixed starting the trading week as rising U.S. Treasury yields scare investors despite growing hopes for a global economic recovery. China also posted encouraging export figures for the first two months of 2021. CAC 40 futures in France improved 0.8% while Germany’s DAX futures contract dropped 0.3% and UK’s FTSE 100 […]
Data from China’s customs agency showed that the country’s exports recorded an impressive 60.6% year-on-year jump from January to February. Imports also expanded, tallying a 22.2% growth from last year’s weak levels. […]
Signaling the start of its global expansion, Amazon.com Inc. will open on Thursday its first-ever physical store outside the United States. Amazon’s first out-of-the-U.S. branch will feature a cashier-less store. It is named, “Amazon fresh” and it is set to start operation in the London Borough of Ealing in Britain. The franchise will carry a […]
Thursday trade in Asia had seen gold dipping as rising U.S. Treasury yields fended off investors of the precious metal despite its rise from a nine-month low it posted the previous session. Gold futures declined 0.23% at $1,711.90, with the dollar racking up some gains on Thursday as it normally moves inversely to gold. Benchmark […]
Brazil’s economy recorded a 4.1% contraction last year, data showed on Wednesday. The drop, which came to be the sharpest in decades, could be attributed to the coronavirus crisis as a second wave of virus restricted the economy’s recovery seen at the end of 2020. Data from statistics agency IBGE showed that Latin America’s largest […]
Oil prices climbed on Wednesday, lifted by demand hopes on progress in U.S. vaccine rollouts, while uncertainty about OPEC+ supply and a massive build in U.S. crude inventories capped gains. U.S. West Texas Intermediate crude futures climbed 0.3%, or 18 cents, at $59.93 per barrel, bouncing from three consecutive days of losses. Brent crude futures […]
As strategic competition with the United States spurs a move to dependence on consumption and home-grown technology, China’s annual session of parliament will chart a path for economic recovery and unveil a five-year plan to avoid stagnation. On Friday, the National People’s Congress is set to open where Premier Li Keqiang is expected to deliver […]
European stock markets were mixed on Tuesday trade as the World Health Organization’s coronavirus warning, along with new corporate news, weighed on markets. Germany’s DAX dipped 0.5%, France’s CAC 40 dropped 0.1%, and U.K.’s FTSE index fell 0.2%. For the first time after seven weeks, the number of coronavirus cases globally increased, according to the […]
The dollar firmed against its low-yielding peers on Tuesday on bets for a quicker pandemic recovery, while the Aussie looked to RBA for guidance. The dollar index traded at 91.014 after hitting a three-week high of 91.139 overnight. The euro dropped to $1.2049. The common currency fell under pressure as ECB officials warned against rising […]
Oil prices dropped over 1% on Tuesday, extending last week’s losses as hopes that OPEC would raise oil supply in a meeting this week contributed to pressure and concerns over slow-moving demand in China. Brent crude slid 1.1%, or 70 cents, at $62.99 per barrel following a 1.1% loss on Monday. U.S. West Texas Intermediate […]
Asian share markets recorded a cautious session on Monday. The series of increases came after investors’ sentiment was fueled by recovery hopes, with inflation heavily dragging bonds and supporting commodities. Meanwhile, an increase in bond yields made equity valuations more stretched in comparison. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2% as Japan’s […]
European stock markets showed mixed trade performances on Friday. Meanwhile, British retail sales showed a huge slump in January. Germany’s DAX gained 0.3%. The CAC 40 in France also improved 0.3%. The U.K.’s FTSE index was on the losing side with a 0.1% drop. This is after retail sales data were released, showing a huge […]
Japan’s core consumer prices posted another month of decline, hitting their sixth straight month of weak records in January. However, their pacing came slower than usual, bringing in some relief for policymakers as the economy suffers from the coronavirus crisis. Core consumer prices recorded an annualized 0.6% contraction in January, government data showed on Friday. […]
Oil prices dropped in early trade on Wednesday, falling back after a two-day rally driven by a cold front capping oil and gas field output in Texas. U.S. West Texas Intermediate crude futures lost 0.6%, or 33 cents, at $59.72 per barrel, falling from a 13-month high of $60.95 hit on Tuesday. Brent crude futures […]
Jaguar Land Rover announced on Monday its luxury Jaguar bran will go all-electric by 2025 and the automaker will introduce e-models of its entire lineup by 2030, following other automakers’ bid in developing zero-emission vehicles. Tata Motors, owner of Jaguar Land Rover, also bared that the Land Rover brand will its first electric model in […]
Japan maintained its reemergence from the coronavirus drag in the fourth quarter. The country’s economy rendered a better-than-expected expansion as a rebound in overseas demand greatly supported exports and capital spending. The world’s third-largest economy recorded an annualized 12.7% expansion in the fourth quarter, government data showed on Monday. The figure came larger than the […]
After extending the state of emergency in the country to curb the spread of the coronavirus, Japan is seen to fall under a shaper economic downturn, a Reuters poll suggested. According to analysts, the staging of the Olympic Games in Japan would have little effect on its ailing economy due to construction spending and limited […]
The expansion seen in Britain’s housing market receded sharply in January. This followed after the country reimplemented virus-related measures, and a soon-to-expire tax break for buyers dragged the market, a survey showed on Thursday. House price growth lost its momentum, placing lower than what was expected in a Reuters survey. More so, prices in London […]
Unfazed by the global chip shortage, Toyota Motor Corp raised its full-year earnings to 54% on Wednesday, claiming it has an up to four-month stockpile of chips. Toyota Motor fearlessly increased its sales forecast for the fiscal year ending in March despite rival Japanese automakers including Nissan Motor Co Ltd and Honda Motor Co Ltd […]
Stock markets in the euro zone were seen opening stronger on Wednesday, getting some lift from solid earnings from Societe Generale, as well as from hopes for a global economic recovery from the coronavirus pandemic. The DAX futures contract in Germany gained 0.1%. CAC 40 futures in France added 0.3% while the United Kingdom’s FTSE […]
Europe’s largest economy took heavy lifting from its exports as it had solid trade activities with the United States and China, with its upbeat December figures show recovery from the pandemic drag. Germany reported a 0.1% seasonally adjusted exports in December, following a 2.3% increase in November, according to the data released by the Federal […]
Gamestop, a videogame retailer, saw a decline in its shares on Monday. The company lost momentum together with other social media-hyped stocks that saw a wild increase earlier in February. While the company recorded an upbeat performance during its early session, its shares still plunged 5.91% at $60. Shares of AMC Entertainment Holdings Inc and […]
The Bank of Israel reported on Sunday it purchased $6.832 billion of foreign currency in January, propping in weakening the shekel from a 24-year peak and taking forex reserves to a new record high of $179.5 billion. After purchasing $21 billion of foreign currency last year, the central bank said in January it would purchase […]
Global share markets recorded a series of record peaks on Friday, with Asian shares tracking Wall Street’s hefty gains. This followed after investors grew enthusiastic over vaccine distribution, bringing in hopes for a rapid recovery of earnings and the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.4% gain, while Japan’s […]
Oil prices climbed nearly 1% on Tuesday after major producers showed commitment to slashing output, supporting a market plagued by weak demand amid the coronavirus pandemic. Brent crude rose 0.9%, or 51 cents, at $56.86 per barrel. U.S. oil was up 1%, or 53 cents, at $54.08 per barrel. Both benchmarks gained over 2% in […]
The European Central Bank is poised to utilize all the necessary tools to stimulate inflation, and is closely monitoring euro’s appreciation, Governing Council member Olli Rehn said in a statement. The ECB introduced additional fiscal stimulus to its pandemic stimulus package in December. Despite President Christine Lagarde reassuring that the bloc’s recovery is on track, […]
In an attempt to shift from gasoline and diesel engines to being carbon neutral, the U.S.’ largest automaker, General Motors, announced on Thursday its goal of selling all its new cars, SUVs, and light pickup trucks with zero tailpipe emissions by 2035. Just several days after President Joe Biden stepped into the White House vowing […]
The dollar rose on Friday, on course for a weekly gain, as lingering tension from a coordinated assault on a U.S. hedge fund short positions lifted demand for safe havens. The dollar benefited from safety buying since the beginning of the week when investors feared that Biden’s U.S. stimulus plan will not be as big […]
Oil prices steadied on Friday, stuck in ranges for the past three weeks, as traders looked for hints of shifting demand and supply fundamentals. A decrease in Saudi’s oil supply and lower U.S. crude inventories offset price pressures from fuel demand. Brent crude futures for March delivery gained 0.1%, or 4 cents, at $55.57 per […]
After reconvening for its first meeting of the year, the Federal Reserve kept its interest rates and bond buying pace steady on Wednesday. The Federal Open Market Committee held on to its current benchmark rate in a range of 0% to 0.25% and also retained its $120 billion monthly pace of bond purchases. The move […]
The dollar steadied on Tuesday as a surge in COVID-19 infections and doubts over more U.S. stimulus hit the market’s upbeat mood. Traders were also cautious ahead of the Fed’s policy review later in the week. Bonds held onto gains as equity markets cooled in Asian trade. The dollar index stood at 90.353, while the […]
Supporting multilateralism and free trade pact, China and New Zealand scored a trade agreement on Tuesday. This trade pact opens the door for exports from the Pacific nation to the world’s second-largest economy. Trade Minister Damien O’Connor said the agreement expands an existing trade deal with China to ensure it remains fit for purpose for […]
The dollar steadied on Monday after a recent drop as new worries about the coronavirus pandemic and the global economy urged investors to cling on to the safe-haven currency. The dollar index was flat at 90.172. It rebounded on Friday after reaching 90.043 on Thursday, its weakest level last week. Analysts say the dollar could […]
The dollar was on course for its worst week of the year on Friday as traders cheered in the Biden administration. Investors supported risk assets and boosted bets that a pandemic recovery could push the dollar lower. The dollar fell nearly 0.8% this week to a one-week low of $1.2173 against the euro on Friday. […]
Turkey has unveiled a 138.5 billion lira ($18.53 billion) public investment programme set for this year, with transportation and communication sectors getting the largest allocation of the investment funds. Published in the Official Gazette on Friday, Turkey will embark on a public investment programme that is seen to boost its virus-beaten economy. Almost $6 billion […]
Fast COVID-19 vaccinations and decreasing coronavirus cases are believed to have a good economic impact as Israel’s Finance Ministry said on Sunday that the country’s economy in 2021 is likely to expand by 4.6%. However, if the health sector of Israel goes critical because of new virus mutations or inoculations taking longer than expected, forcing […]
In an effort to lift the ailing, virus-battered economy and hasten inoculations, U.S. President-elect Joe Biden officially publicized on Thursday a $1.9 trillion stimulus package. The stimulus package to be injected into the economy includes $415 billion to boost virus response and hasten inoculations, $1 trillion worth of payout to American households, and around $440 […]
Investors waiting for updates regarding the new U.S. fiscal stimulus plan drove the stock markets to gains on Wednesday trading spearheaded by defensive sectors including Wall Street’s S&P 500 index. The S&P 500 advanced 8.65 points, or 0.23%, to 3,809.84. Intel Corp gained the biggest in the S&P index, adding 7%. This came after the […]
The dollar fell on Wednesday as a fall in U.S. yields paused momentum for its rebound and traders resumed bets that it would drop. 10-year U.S. Treasury yield benchmark dropped almost 7 basis points from a 10-month peak on Tuesday and the turnaround cut a three-day streak for the greenback. Against the euro, the dollar […]
The United States had seen a mild contraction in its labor market in November. In addition to this, an increased number of layoffs amid the coronavirus pandemic indicated that the jobs market’s rebound from the pandemic was losing momentum. The Job Openings and Labor Turnover Survey released by the Labor Department on Tuesday came parallel […]
The dollar held onto its recent gains on Tuesday following a rise in U.S. Treasury yields, boosting demand for the safe-haven currency. The dollar has been among the largest losers in the last 10 months as the Fed’s over-dovish policy urged investors to a sell-off. It hit more than 1 ½-year lows against the euro […]
Oil prices fell on Tuesday as traders worried about rising global coronavirus cases, but hopes for a drop in U.S. crude oil stocks for a fifth consecutive week capped losses. Brent crude oil futures fell 0.2%, or 10 cents, at $55.56 per barrel. U.S. West Texas Intermediate dropped 0.2%, or 8 cents, at $52.17 per […]
Wall Street’s major indexes closed weakly on Monday. This came after investors withdrew some profits following a series of highs last week. In addition to this, the fast-approaching earnings season and developments in Washington contributed to the subdued performance. The Dow Jones Industrial Average recorded a 0.29% drop, while the S&P 500 traded 0.66% lower. […]
The dollar extended its rebound on Monday as U.S. yields rose and hopes for more stimulus to support the economy boosted bearish bets, pulling the greenback from recent multi-year lows. President-elect Joe Biden, together with Democrats who gained control of both houses in Congress, has promised “trillions” in additional COVID-19-relief spending. The Aussie and the […]
Oil prices dropped on Monday on rising worries about global fuel demand amid strict lockdowns in Europe and China. Brent crude oil futures was down 0.8%, or 42 cents, at $55.67 per barrel after rising to $56.39 earlier, its highest level since the end-February 2020. Brent gained in the last four sessions. U.S. West Texas […]
Oil prices hovered near 11-month highs on Friday and were on course for a strong weekly gain as Saudi Arabia pledged to cut supply, boosting market sentiment. U.S. West Texas Intermediate crude futures climbed 0.3%, or 14 cents, at $50.97 per barrel. The benchmark ended 0.4% higher on Thursday after reaching its strongest level of […]
Oil prices climbed on Thursday as Saudi Arabia, the world’s biggest oil exporter, agreed to slash production in the next two months and as U.S. crude inventories dropped. Brent crude rose 0.7%, or 40 cents, at $54.70 per barrel following a 1.3% gain overnight. U.S. West Texas Intermediate rose 0.9%, or 43 cents, at $51.06 […]
December had seen factory activity in the United States advance to a 2-1/2 year high. The expansion came amid the consistent drag of the coronavirus pandemic on the services sector, forcing people to resort to goods. However, surging infections restricted supply chains. The Institute for Supply Management’s index of national factory activity was read at […]
Oil prices steadied on Tuesday after OPEC+ continued deadlock negotiations on February oil production, while fuel demand worries hovered amid new coronavirus restrictions. Brent crude futures for March delivery gained 0.2%, or 8 cents, at $51.17 per barrel. U.S. West Texas Intermediate crude for February contract rose 0.3%, or 12 cents, at $47.74 per barrel. […]
Asian share markets were seen subdued on Tuesday. This followed after investors grew wary over Senate runoffs in Georgia- a salient factor that bears significance on the economic policies that President-elect Joe Biden would implement during his tenure. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.34% decline, reversing from its record peak […]
The first trading session of 2021 proved to be fruitful for the European shares as optimism over the Brexit trade deal and coronavirus vaccines lorded over the Western financial markets. The pan-regional STOXX 600 index increased 1.2%, duplicating February 2020 highs, with mining and travel & leisure stocks among the top performers. London’s blue-chip index […]
Tesla Inc on Saturday posted 2020 vehicle deliveries that bested estimates but narrowly missed its target for the year. In 2020, Tesla delivered a total of 499,550 vehicles, surpassing Wall Street’s estimate of 481,261 vehicles, according to Refinitiv data. The actual figures, however, are 50 units shy of Elon Musk’s targeted deliveries. Over the last […]
Factory activity in Asia advanced modestly in December, business polls showed on Monday. The expansion followed after China saw an increase in demand, indicating that manufacturers across the region are starting to recover from the initial damage of the coronavirus crisis. China’s Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) was read at 53.0 in December. While […]
The S&P 500 reached low grounds on Monday after it recovered from massive losses during the early session. The choppy trade was mainly from weak sentiment as investors weighed between a new coronavirus strain and the passage of a long-anticipated stimulus package. The tech-heavy Nasdaq recorded minimal losses, closing weakly together with the S&P 500. […]
Overseas demand from COVID-constrained consumers greatly supported China’s manufacturing sector as its activity breached forecasts this year. In addition to this, the recovery prompted factories to hire blue-collar workers in a bid to clear foreign orders. The country’s output of industrial robots jumped 22.2% as computer equipment advanced 10.1%. Meanwhile, integrated circuits recorded a 15.9% […]
The pound gained against the dollar and euro on hopes that the European Union and Britain will agree on a free trade deal after their decision to extend negotiations. The dollar sat near a 2 ½-year low against its peers ahead of a U.S. Federal Reserve meeting ending on Wednesday. It stood at 103.995 on […]
The European Central Bank will introduce a new stimulus package on Thursday to aid the bloc rise up from coronavirus pandemic recession. The stimulus package aims to support the EU’s path to economic recovery until a coronavirus vaccine is released to the public. Though details of the package remain to be completed, the package is […]
The dollar took a pause from selling pressure on Wednesday as Nestor’s weighed risks ahead, including Brexit trade talks in Brussels, the U.S. Congress debating for an additional economic package, and an upcoming ECB meeting. The dollar index sat at 90.923, a little above the 2 ½-year low hit on Friday. The pound steadied at […]
Japan had seen its household spending advanced in October, the first expansion in over a year, data showed on Tuesday. The growth indicates a mild recovery after the country’s economy was ravaged by the coronavirus crisis. Household spending jumped 1.9% in October year-on-year, placing weaker than the 2.5% increase predicted by analysts. While it failed […]
Growth in the U.K.’s retail sales softened in November as non-essential stores were forced to cease operations to comply with the four-week lockdown in England. However, online sales surged and were able to bring in the figures more than it did during the first lockdown in March, according to industry data released on Tuesday. Year-on-year […]
German industrial output posted larger-than-expected figures driven by surging car sales in October. This development is an indication that the export-oriented manufacturing sector sent Europe’s largest economy off to a hot start in the final quarter of 2020. German industrial output soared 3.2% on the month after an upwardly revised increase of 2.3% in the […]
November had seen China’s exports advanced at the fastest pace in almost three years. This came after the country recorded a historic surplus as the world demanded more products necessary to combat the coronavirus pandemic. November exports advanced 21.1% from a year ago, customs data showed on Monday. This came to be the most rapid […]
U.S. services sector activity eased, posting its slowest pace in six months in November as businesses were held to control resurging coronavirus infections. The decline poses concerns about the economy’s recovery being stalled. The Institute for Supply Management (ISM) reported on Thursday a 55.9 reading of its non-manufacturing index in November. The reading was the […]
World equity benchmarks soared, reaching near record highs and the dollar dipped anew to 2-1/2-year lows on Wednesday after investors weighed the possibility for more U.S. economic stimulus to address deteriorating American jobs figures. On Wall Street, the S&P 500 increased 6.55 points, or 0.18%, to 3,669; the Dow Jones Industrial Average went up 59.87 […]
In the third quarter, Australia’s economy had recorded a strong rebound from its coronavirus-driven downturn. This followed after spending advanced, with consumers seen returning to their purchasing practices. In addition to this, the country’s monetary policy will stay loose for a while, a central banker said. The economy down under grew 3.3% from July to […]
Asian share markets recorded an upbeat performance on Wednesday. Despite a choppy trading session, shares across the region tracked Wall Street’s rally as vaccine optimism and hopes for more economic stimulus in the United States supported investors’ confidence. MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.27% increase. However, it failed to […]
Oil prices fell on Wednesday after a sudden rise in U.S. oil inventories and as OPEC+ delayed a meeting on output policy. Brent crude futures fell 0.9%, or 41 cents, at $47.01 per barrel. U.S. West Texas Intermediate crude dropped 1%, or 46 cents, at $44.09 per barrel. U.S. crude stockpile climbed by 4.1 million […]
The dollar was under pressure on Tuesday following its worst close since July as investors awaited more U.S. monetary easing. The Aussie and the kiwi recovered some of Monday’s losses, each climbing 0.2% in early Asian trade. The euro climbed 0.1% just below $1.20, while the pound held onto its gains against the dollar as […]
Asian share markets were seen stagnant below their milestone peaks on Friday. This could be attributed to investors’ subdued sentiment as vaccine-driven hopes diminished, dragging down optimism that some of the region’s economies will recuperate faster than their Western peers. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.11%, placing just below its all-time […]
The dollar was on the defensive on Thursday as downbeat U.S. economic data and optimism about coronavirus vaccines boosted risk sentiment for global commodities and emerging markets. The pound stood almost at a two-month high against the dollar as traders await the EU-Britain trade talks this week. The dollar index neared its lowest level in […]
Failure of securing a free trade deal between the U.K. and the European Union would cost the U.K. a 2% economic output slash while driving up inflation, unemployment, and public borrowing, the Office for the Budget Responsibility warned on Wednesday. The OBR reiterated its previous forecasts after deciding the prospect of a “No trade deal […]
Risk-sensitive currencies advanced on Tuesday. The jump was mainly from investors’ upbeat sentiment as U.S. President Donald Trump accepted President-elect Joe Biden’s White House transition. Moreover, Biden plans on giving former Federal Reserve Chair Janet Yellen the Treasury secretary position. The Australian dollar recorded a 0.4% increase, currently quoted at $0.7313. Meanwhile emerging market currencies […]
Tesla had recorded another day of gains on Thursday. Its shares had extended their rally just before it debuts in the S&P 500 index in December. In addition to this, the automobile manufacturer’s market value was seen nearing $500 billion, indicating the growing domination of mega-cap growth stocks within Wall Street’s most-watched index. The California-based […]
The dollar fell on Thursday following five straight days of decline, while the yen held onto most of its recent gains. Investors worried about increasing COVID-19 deaths and started to bet on additional stimulus aid from the U.S. Federal Reserve. The dollar index stood at 92.549, falling 0.2% so far in the week. It is […]
The dollar fell on Tuesday as a reimposition of coronavirus restrictions in several U.S. states and concerns about a smooth transition for President-elect Joe Biden offset optimism about a COVID-19 vaccine. The pound rose on news that the UK and the EU could reach a post-Brexit trade deal by next week. Moderna became the second […]
Cisco Systems Inc’s first-quarter revenue dropped below expectations, the telecom equipment maker reported on Thursday. This followed after demand was supported by a large number of people in need of teleconferencing tools, networking equipment, and cybersecurity products for their work-from-home setup. The company’s revenue had seen a 9% decline to $11.93 billion in the quarter […]
September had seen Japan’s core machinery orders dropped for the first time in three months, with their momentum decelerating faster than what was expected. This brought in concerns that any pickup in business spending would not be effective in staging a brisk economic recovery. Core machinery orders recorded a 44% contraction in September. This followed […]
Two of Wall Street’s major indexes dropped on Tuesday, with the S&P 500 recording a minimal decline and the Nasdaq plunging 1.4%. This came after investors withdrew from tech-related stocks, favoring virus-beaten sectors in hopes that a COVID-19 vaccine will fuel an economic rebound. The heavyweight technology and consumer discretionary sectors hit low grounds, while […]
On Friday, Pony.ai announced that it had raised $267 Million in the initial phase of its fundraising to increase its popularity in the United States and China. The autonomous vehicle technology company said that its total market value reached $5.3 billion. Pony.ai stated that the funding was led by Ontario Teachers’ Pension Plan Board’s Teacher […]
On Wednesday, technology stocks boosted the S&P 500 index (.SPX) while drugmakers and health insurers gained profit after Democrats failed to sweep the election in a “blue wave.” According to investors, the United States government would be divided while there would be significant reforms for these sectors and corporate tax hikes. The S&P healthcare sector […]
On Thursday, AstraZeneca (AZN) announced progress in its pipeline of other medicines as it posted a mixed set of its third-quarter earnings results. The British-Swedish drugmaker said that its third-quarter product sales reached $6.52 billion compared to its company-compiled consensus of $6.50 billion. The result excluded payments from collaborations. However, the multinational pharmaceutical and biopharmaceutical […]
On Wednesday, U.S. stock futures jumped higher than expected. At the same time, global equity markets rose after President Donald Trump stated that he would ask the United States Supreme Court to stop all vote counting and effectively declared victory in the presidential race that was still ongoing. Trump posted on Twitter that Democrats had […]
On Wednesday, Subaru Corp (7270.T) posted its operating profit forecast worth 110 billion yen ($1.05 billion). The Japanese transportation conglomerate said that U.S. vehicle sales rebounded more than expected after the coronavirus pandemic severely hit the automotive industry. “In North America, we are seeing a faster-than-expected recovery trend. In April, our inventory was in short […]
On Monday, Inspire Brands Inc. announced that it would finally acquire Dunkin’ Brands Group Inc. (DNKN.O) for $8.76 billion. The Atlanta-based holding company stated that its all-cash deal to take the ownership of Dunkin’ Donuts and Baskin-Robbins chains private would value the firm at $106.50 per share. “We are excited to bring meaningful value to […]
On Monday, Lenovo Group Limited (0992.HK) posted its quarterly profit and stated that the firm would continue to benefit from “new normal” remote working setups after the coronavirus pandemic. The Chinese multinational technology company reported a 53% increase in its net profit for the third quarter that ended in September to $310 Million. “Last quarter […]
On Monday, Fiat Chrysler Automobiles NV (FCA) reported that it would need to pay 722 Million Euros ($840 Million) to resolve the United States Department of Justice’s (DOJ) investigation regarding its vehicles’ excess diesel emissions. The world’s eighth-largest automaker said that it would also need to pay for regulatory penalties due to the higher fuel […]
The dollar steadied on Friday, while the euro sat near its four-week low on the greenback after the European Central Bank hinted at additional monetary easing by the end of the year. The euro’s fall overnight boosted the dollar index to a near four-week high. The ECB kept rates steady on Thursday but said that […]
On Wednesday, Exxon Mobil Corp (XOM.N) announced that it partnered with Japan’s largest power generation company JERA. The American multinational oil and gas corporation said that it agreed to create a power station and import facilities for liquefied natural gas (LNG). Exxon said that the LNG would be used to fuel the Vietnamese city of […]
On Tuesday, the United States Environmental Protection Agency (EPA) announced it would allow farmers to spray crops with weed killers made by Bayer AG (BAYGn.DE) and other companies. In June, the U.S. Courts of Appeals (COA) suspended Bayer’s operations. The court blocked Bayer’s company sales after the government agency discovered that its weed killers were […]
On Tuesday, Rolls-Royce Holdings (RR) stated that it would seek 2 billion Pounds ($2.6 billion) from its shareholders in a “make-or-break” attempt to survive the coronavirus pandemic. The British multinational engineering company stated that the coronavirus outbreak severely affected its finances. The firm also added that its planes stopped flying due to the weak global […]
On Monday, the United States International Trade Commission (ITC) announced that the decision would be delayed in SK Innovation’s (096770: KRX) secret trade theft case. The government agency said that the final decision would be announced on December 10, 2020. In 2019, Tesla and General Motors’ electric-vehicle battery (EVB) supplier LG Chemical (051910: KRX) filed […]
The dollar rose on Monday as rising coronavirus infections in the United States and Europe and a stalling in U.S. stimulus talks prompted a cautious mood in the market. The United States and France reported their highest coronavirus cases for two straight days. Meanwhile, Italy implemented new curfews for bars and restaurants and Spain announced […]
Oil extended losses from last week on Monday, dropping almost 2% as a spike in U.S. and European coronavirus cases raised worries over fuel demand, while higher supply hit sentiment. Brent crude fell 1.7%, or 70 cents, at $41.07 per barrel. U.S. West Texas Intermediate slid 1.7%, or 69 cents, at $39.16 per barrel. In […]
On Sunday, Dunkin’ Brands Group Inc. (DNKN.O) announced that it held preliminary discussions with Inspire Brands for a potential acquisition agreement. The American fast-food restaurant company declined to reveal further details. “There is no certainty that any agreement will be reached,” Group’s Chief Communications Officer Karen Raskopf said. The New York Times reported that Dunkin’ […]
Economic activity in the European continent contracted once more in October as the resurgence of COVID-19 cases across the region had many worried for recession in the Eurozone, according to a survey revealed on Friday. The reimplementation of lockdown measures had forced many businesses in the bloc’s dominant service industry to limit operations, with nearly […]
Oil prices fell earlier on Thursday, continuing heavy losses from overnight as demand weakened with the resurgence of COVID-19 cases in North America and Europe. U.S. West Texas Intermediate (WTI) crude futures fell by 0.7% (27 cents), trading at $39.76 per barrel at 0127 GMT (9:27 PM ET), after it slumped by 4% on Wednesday. […]
On Thursday, Amazon Inc. (AMZN.O) announced that it would invest $100 Million in opening new warehouses in Mexico. The American multinational technology company stated that it would include Amazon’s first shipping centers outside the city in order to provide faster deliveries. Amazon said that it would be called fulfillment centers. The first one would be […]
European shares saw losses for its third consecutive session on Wednesday, as weakening stocks from healthcare and construction sectors outweighed a strong earnings report from Nestle and Ericsson. The pan-European STOXX 600 fell by 1.0%, still remaining 16% shy of its all-time high as it continued to struggle out of its trading range since June. […]
The dollar fell to a one-month low on Wednesday as optimistic investors about a U.S. stimulus before the election turned to risk currencies. The yuan surged to a two-year high on China’s strong economic recovery. U.S. President Donald Trump said that he was willing to accept a big stimulus deal despite opposition from Republicans. That […]
On Wednesday, Tesla Inc. (TSLA.O) posted its third-quarter results for 2020. According to market analysts, they’re interested in knowing whether Tesla’s Chief Executive Officer Elon Musk could achieve his ambitious year-end goal. The American electric vehicle and clean energy company announced that it would continue delivering half a million vehicles this year despite a global […]
Shares of Snap Inc SNAP.N recorded a 23% gain on Tuesday. This followed after the company’s user growth and revenue surpassed expectations, with more people subscribing to Snapchat amid the coronavirus crisis. The company’s daily active users (DAUs), a metric that gauges user engagement and traction on a regular basis, advanced 18% year-on-year to 249 […]
Asian share markets and U.S. stock futures advanced on Wednesday. This followed after U.S. stimulus talks bolstered market sentiment, prompting investors to resort to equities and withdraw from government debt. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.56% gain. Australian shares hiked 0.1%, while Chinese shares jumped 0.07%. Shares in Tokyo gained […]
Earlier on Tuesday, the Dollar saw slight gains in Europe as traders kept a wary eye on the ongoing political discussions over a potential new U.S. stimulus package. The Dollar Index, which tracks the Greenback against a basket of six other currencies, inched up by 0.1% to 93.445 at 2:55 AM ET (0655 GMT). Against […]
Oil prices fell for a fourth straight day on Tuesday on fears about a surge in new global coronavirus cases impacting fuel demand. Rising output from Libya also added to supply worries in the market. Brent crude futures dropped 0.7%, or 30 cents, to $42.32 per barrel after sliding 31 cents on Monday. U.S. West […]
On Monday, UBS Group AG (UBSG.S) reported a 99% increase in its third-quarter revenue in light of a strong investment banking performance and an unexpected rise in wealth management profit. “Our third-quarter results continue to demonstrate that our strategy is differentiating us,” UBS’ Chief Executive Officer Sergio Ermotti stated in an interview. Ermotti’s net profit […]
On Tuesday, South China Morning Post reported that Cathay Pacific Airways Ltd. (0293.HK) would furlough 18% of its workforce or almost 6,000 jobs and axed its regional brand Cathay Dragon. Hong Kong’s flag carrier said that the job cuts were made to help weather the coronavirus outbreak. In June 2020, the airline stated that it […]
The dollar is on course for its best week of the month on Friday as rising coronavirus cases and little progress in a U.S. stimulus package prompted investors to seek safer assets. The dollar index rose to a two-week high of 93.910 as Europe and Britain reimposed restrictions. The U.S. Midwest is also battling record […]
China’s economic rebound had gained momentum in the third quarter. This followed after consumers were seen returning to their spending practices and as trading partners resumed operations, shaking off the historic downturn seen earlier this year. On an annual basis, the world’s second-largest economy is expected to record a 5.2% expansion from July to September. […]
On Wednesday, United Airlines Holdings Inc. (UAL) announced that it would cut costs by 59% in the third quarter amid the coronavirus pandemic. The Chicago-based airline holding company said that it lost $1.8 billion or $6.33 per share in the third quarter. United Airlines’ total revenue dropped to $2.49 billion from $11.38 billion last year. […]
Asian share markets recorded a mixed performance on Thursday. This followed after optimism over U.S. stimulus talks had weakened and as new coronavirus infections in some parts of Europe reached record highs, prompting investors to resort to safe-haven assets. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% decline. Australia’s S&P/ASX 200 advanced […]
Gold prices fell more than 2% on Tuesday, losing support from its $1,900 perch after negotiations for a U.S. economic stimulus ran into difficulties. The stimulus package was intended to help millions of Americans who were financially hit by the COVID-19 pandemic. The yellow metal had hit three-week highs above the $1,939 mark on Monday […]
Oil prices steadied in early Tuesday trade, sitting on almost 3% of losses from the last session after production resumed in Norway and the U.S. Gulf and Libya reopened refineries in their largest oilfields. The output restart came as rising COVID-19 cases in the United States and Europe stirred worries about fuel demand growth. OPEC […]
September had seen China’s imports advancing at their most rapid pace this year. Meanwhile, the country’s exports rallied further as more trading partners lifted coronavirus-driven restrictions in a bid to support the world’s second-largest economy. Imports advanced 13.2% in September. The figure reversed from a 2.1% drop in August as it came higher than the […]
Asian share markets failed to track Wall Street’s rally, recording a series of declines on Tuesday. This followed after China’s post-holiday rally eased, but the technology sector’s upbeat performance and renewed hopes for U.S stimulus are expected to maintain investors’ sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.09% drop. China had […]
Oil and gas workers evacuated from offshore production facilities as Hurricane Delta made its way towards the Gulf of Mexico. Oil producers had halted 57 of its production facilities in the U.S. Gulf of Mexico by Tuesday Oil companies have repeatedly evacuated and returned its workers from and to the region during the storm season, […]
A strike among offshore oil workers in Norway’s Johan Sverdrup oilfield threatened overall production with a total output of 330,000 barrels of oil equivalent per day (boepd) due to wage disputes, the Norwegian Oil and Gas Association (NOG) said on Friday. Norway’s labor union Lederne said on Wednesday that it would escalate the action from […]
Oil prices dropped almost 1% on Friday as an increase in crude production came amid a worsening pandemic. Rising coronavirus cases are feared to reimpose restrictions on movement and consumption that will heavily weigh on fuel demand. Brent crude fell 0.9% or 36 cents, at $40.57 per barrel following a 3% fall on Thursday. U.S. […]
U.S. stock futures and other world stocks fell on Friday as United States President Donald Trump and his wife Melania Trump tested positive for the coronavirus a couple of weeks before the elections. “News that U.S. President Trump has tested positive for COVID-19 must be worrying at a personal level, as it would be […]
The possibility of renewed U.S. stimulus improved global investor sentiment, steering markets to what is set to be an explosive fourth quarter on Thursday. However, an all-day outage in the Tokyo Stock Exchange gave the month a rocky start. Europe’s STOXX 600 index gained 0.7% ahead of PMI economic data, which is expected to show […]
Global share markets gained on Thursday. This was mainly from investors’ upbeat sentiment over fresh stimulus in the United States. However, caution was seen ahead of the upcoming presidential poll, while technical difficulties in Japan restricted gains. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% gain as Australian shares advanced 1.4%. Futures […]
Oil prices slid on Monday as rising coronavirus cases offset hopes for a smooth fuel demand recovery, with main crude benchmarks on course for their first monthly drops in several months following last week’s fall. Brent crude slid 0.6%, or 23 cents, at $41.69 per barrel after a 2.9% fall last week. U.S. West Texas […]
European stock markets traded slightly higher earlier on Monday, boosted by positive Chinese market data. However, gains were regarded as tentative due to the reemergence of COVID-19 cases in the region, further conveying signs of economic weakness. DAX futures in Germany gained 0.5% at 2:05 AM ET (0605 GMT), while CAC futures in France rose […]
Economists at the Commonwealth Bank of Australia said that it expects the Reserve Bank of Australia to hold interest rates at a record low of 0.25% at its Oct. 6 board meeting, contrary to calls for a cut from two major rivals. Financial markets are betting on a 60% chance of a cash rate cut […]
On Friday, Boohoo (BOOH.L) stated that it would have an independent review of significant labor violations at its garment suppliers located in Leicester. The United Kingdom-based online fashion retailer company said that it would look into allegations about poor factory working conditions. According to the company, Boohoo’s independent review would be headed by senior lawyer […]
Asian share markets recovered on Friday. This could be attributed to a tech-driven rally on Wall Street backed by strong U.S. housing data. Moreover, investors were seen salvaging losses after a broad regional index recorded its biggest daily decline in more than three months. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4%. The […]
Global shares fell while the Dollar continued its gains earlier on Thursday as investor remained wary of another potential economic hit due to the COVID-19 pandemic, ahead of German sentiment data and speeches from officials from various central banks. The infection rate in Europe has begun to rise sharply, with a number of countries including […]
Asian share markets were seen subdued on Wednesday, while the U.S. dollar recorded a two-month peak. This followed after investors’ sentiment was dampened by persistent worries about the global economic recovery, prompting them to resort to safer assets. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.3%, recording its first gain this week. Japan’s […]
On Wednesday, KKR & Co Inc (KKR.N) announced that it would invest 5,550 Million Crore ($755 Million) in Reliance Industries Ltd (RELI.NS) and Reliance Retail Ventures Limited (RRVL). The American global investment company said that the investment would provide funds for Reliance worth $1.78 billion within a month. Reuters reported that the Mumbai based multinational […]
On Tuesday, Intel Corp. (INTC) announced that it obtained licenses from the United States government to continue supplying products for Huawei Technologies (SHE: 002502). The American multinational corporation and technology company said that it had sought approval from the U.S. authorities to supply Huawei to continue its new notebook project. The U.S. Department of Commerce […]
HSBC and Standard Chartered’s Hong Kong shares fell on Monday after news that they and other banks moved large sums of allegedly illegitimate funds for almost two decades despite the questionable origins of the money. Media reports were based on leaked suspicious activity reports (SARs) filed by banks and financial firms with the U.S. Department […]
The first 20 days of September saw South Korean exports recovering from six consecutive months of decline. The rebound was mainly from increased microchip and automobile sales, boosting recovery optimism in the trade-dependent economy. From Sept. 1 to 20, exports advanced 3.6% from a year ago. Meanwhile, imports recorded a 6.8% drop on an annual […]
On Friday, Ericsson (ERICb.ST) announced that it has agreed to buy CradlePoint Inc. in an acquisition deal worth $1.1 Billion. The Swedish multinational networking and telecommunications company said that the deal would create valuable new revenue streams for its customers by supporting full 5G-enabled services. “The investment is key to Ericsson’s ongoing strategy of capturing […]
Global shares were seen at lows, while the dollar jumped on Thursday. This followed after the Federal Reserve pledged to maintain ultra-low interest rates for a long time. However, it opted out from providing stimulus to salvage the virus-beaten U.S. economy. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.82% decline. The index […]
On Wednesday, Spotify Technology’s (SPOT) shares fell by 7% after Apple Inc. (AAPL) launched a new bundle plan for all its services that lowered the price of Apple Music subscriptions. The Swedish music streaming and media services provider said that the Apple One bundle favored its own Apple Music service. “Once again, Apple is using […]
European stock markets mostly held steady earlier on Tuesday as investors tread cautiously ahead of upcoming central bank meetings despite signs of economic recovery in China. Data released on Tuesday morning showed that China’s economy had continued to show progress in August, with retail sales increasing by 0.5% year-on-year and a 45.6% increase in industrial […]
Citigroup Inc.’s (C.N) Chief Financial Officer Mark Mason stated on Monday that the bank was accelerating investments in its risk and control functions after a high-profile operational error worth $900 Million. He added that the bank prepared incremental investments this year worth $1 billion to shore up Citigroup’s infrastructure and improve risk management and compliance. […]
On Tuesday, Tencent Holdings Ltd. (0700.HK) announced that it would open a new office in Singapore. The Chinese multinational conglomerate company said that it would serve as its regional hub in Southeast Asia. Tencent added its Singaporean base to its offices including Malaysia, Indonesia, and Thailand after some of its apps were banned in India […]
Asian share markets advanced, while the dollar shed gains on Thursday. This could be attributed to investors’ upbeat sentiment over strong industrial figures from China and encouraging developments in vaccine clinical trials. China’s blue-chip index was seen 0.4% higher. The jump followed after Chinese data showed that the country’s industrial output expanded for five straight […]
U.S. stocks are on track to open higher after the pharma sector reassured progress for a COVID-19 treatment. Dow Jones futures gained 0.8% (218 points) at 06:30 AM ET (10:30 GMT), while S&P 500 and Nasdaq futures gained 1.1% and 1.4% respectively. However, there has been criticism on biotech firm Gilead Sciences Inc after it […]
On Thursday, Citigroup Inc. (C.N) named Consumer Banking Head Jane Fraser as the bank’s next chief executive officer. She would be the first woman to lead a major Wall Street bank. “I’m often asked, ‘Can you have it all? Can you do it all?’ And I say, ‘Yes, you can, but you can’t do it […]
Oil futures fell in early Thursday trade on worries about fuel demand after U.S. crude inventories climbed last week against analysts’ expectations and coronavirus cases continued to spike globally. Brent crude futures fell 0.3%, or 14 cents, at $40.65 per barrel following a 2.5% gain on Wednesday. U.S. West Texas Intermediate crude futures slid 0.5%, […]
The dollar held on to overnight gains on Tuesday as investors weighed whether a policy shift from the European Central Bank could hit the euro, while the pound fell due to Brexit uncertainty. The dollar rose 0.2% against its peers. Against the euro, the greenback rose to $1.1816. The Aussie climbed 0.1% to $0.7280, while […]
Oil prices were mixed in early Tuesday trade over demand concerns and a surge in COVID-19 cases following the U.S. Labor Day long weekend, the peak U.S. driving season. 22 out of 50 U.S. states reported a spike in coronavirus cases on the holiday weekend, while India and Britain also posted higher cases. U.S. West […]
Friday marked Asian share markets’ weakest performance in two weeks. The decline followed after Wall Street monitored a tech-driven drop. However, earnings in safer assets remained subdued as investors awaited if employment data from the United States would result in a larger selloff. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.6% decline. […]
The dollar held on to overnight gains on Thursday as investors lowered bets against the U.S. currency and sold the euro. Meanwhile, the European Central Bank expressed concern on the single currency’s rise. The dollar index bounced nearly 1% above the 28-month low it hit on Tuesday. Several analysts expect the greenback to rise but […]
On Thursday, Big Hit Entertainment announced that the members of hugely popular South Korean K-Pop band BTS were expected to become multimillionaire shareholders after receiving shares in their label. The South Korean entertainment company said that it started preparing for its initial public offering (IPO) that could raise to 962.6 billion Won ($811 Million). Big […]
August had seen Asian factories emerging from the disruptions brought by the coronavirus. This followed after encouraging signs in China fuelled optimism for a stronger rebound in global demand, relieving policymakers from the pressure of implementing necessary measures to avoid a deeper recession. China’s Caixin/Markit Manufacturing Purchasing Managers’ Index reached 53.1 in August. This came […]
The dollar dropped to multi-year lows against its peers on Tuesday as the U.S. Federal Reserve’s shift in policy framework fueled speculation that U.S. rates will remain lower for longer. The Aussie stood at a two-year high against the dollar as traders awaited a Reserve Bank of Australia meeting later in the day. The yen […]
Oil prices rose on Monday with Brent futures on course for a fifth monthly gain as global stimulus measures supported prices despite the weak demand in a well-supplied market. Brent crude futures for November gained 0.6%, or 27 cents, at $46.08 per barrel. U.S. West Texas Intermediate crude climbed 0.3%, or 14 cents, at $43.11 […]
July had seen Japan’s factory output advance at its fastest pace on record. Automobile and car components fuelled the jump, suggesting a modest recovery from the coronavirus crisis. Japan’s industrial output advanced 8.0% in July, placing higher than the 1.9% record seen in June. The reading also came higher than the 5.8% growth estimated by […]
The dollar fell near its lowest level this week on Thursday as investors turned to Fed Chairman Jerome Powell’s speech for hints that the central bank might change its policy framework to boost inflation. Powell is scheduled to give a speech at the annual central bankers’ conference later in the day, which will be held […]
Oil prices steadied on Thursday as a hurricane hit the United States’ key oil production facilities in the Gulf of Mexico, forcing oil rigs and refineries to close down production in the region. Brent crude futures for October delivery climbed 0.3%, or 13 cents, at $45.77 per barrel, while the November contract rose 10 cents […]
European stocks were up slightly earlier on Wednesday after Germany and France agreed to roll out additional stimulus, lifting hopes of an economic recovery from the COVID-19 pandemic. Germany’s coalition parties have pledged to roll out a stimulus package amounting up to €10 billion, while Prime Minister Jean Castex said that France is set to […]
The S&P 500 and the Nasdaq reached record highs on Tuesday. However, gains fuelled by encouraging developments in Sino-U.S. trade and medical breakthroughs to combat the coronavirus were heavily dragged by a decline in Apple shares. Apple Inc’s subdued performance greatly affected all three indexes as its stocks declined 0.8%. This came before the company’s […]
On Thursday, Lyft Inc. announced that it would halt its ride-hailing services in California at the end of the day. The move came after the U.S. court granted a preliminary injunction last week requiring the carpooling company to reclassify drivers as employees rather than independent contractors. “This is not something we wanted to do, as […]
On Friday, Sky News reported that JPMorgan Chase & Co (JPM.N) would launch its online British retail bank under its Chase brand in the first quarter of 2021. The planned venture would rival Goldman Sachs’ (GS.N) Marcus brand and other start-up companies including Monzo and Starling. According to a reliable source, JPMorgan had signed up […]
Japan’s core consumer prices were seen stagnant in July. This dampened hopes for a modest increase as the coronavirus crisis ravaged household demand and heightened the possibility of the economy plunging into deflation again. Japan’s core consumer price index maintained its level in July from a year earlier, data from the Ministry of Internal Affairs […]
Britain’s struggling economy is expected to take at least two more years to reach its pre-pandemic level, a Reuters survey showed. Though this is the case, there is only a narrow chance that the Bank of England will implement negative interest rates to fuel the recovery. In the third quarter, the economy had recorded a […]
Oil prices slid on Wednesday on worries that U.S. fuel demand may not improve as fast as expected. This came amid a deadlock in a new U.S. coronavirus fiscal aid, dwarfing a bigger-than-expected drop in U.S. crude inventories. Brent crude futures fell 0.7%, or 33 cents, at $45.13 per barrel. U.S. West Texas Intermediate crude […]
The S&P 500 finally closed at a record all-time high since February, erasing losses made earlier in the year when the COVID-19 pandemic started to put a dent in markets. While the Nasdaq also closed at a record high, the Dow still couldn’t pull through for a second consecutive session. The Dow Jones Industrial Average […]
Home Depot Inc. (HD.N) reported that it managed to beat its second-quarter sales estimates on Tuesday. The largest home improvement retailer in the United States said that most customers purchased more construction tools and other home improvement products to do minor repair jobs while stuck at home due to the coronavirus pandemic. According to Institutional […]
The dollar index fell for the fifth straight day on Tuesday, nearing its lowest level in two years as it fell under pressure from low yields and gloomy U.S. economic data. The dollar index lost 0.3% to 92.55, nearing a two-year low of 92.49. A rally in tech stocks suppressed the safe-haven bid for the […]
Wall Street’s tech-boosted performance was dampened by Sino-U.S. tensions, sending Asian shares up on Tuesday. Meanwhile, the dollar was seen lagging behind almost all of its peers. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.19% gain, placing close to its pre-virus level and record high seen in January. Japan’s benchmark index Nikkei […]
Taiwan’s export orders likely advanced in July, tallying five months of consecutive gains, a Reuters survey showed. The upbeat record could be attributed to strong demand for technology products as people were prompted to stay at home during the coronavirus pandemic. Thirteen economists forecast that the country’s export orders will advance 3.7% from a year […]
Data from U.S. stock index futures signaled that Wall Street was on track to make moderate gains for Monday just days ahead of a critical retail earnings report as well as housing data. As the second-quarter earnings season is about to come to an end, many await results from major retailers such as Walmart Inc, […]
American multinational pizza restaurant chain Domino’s Pizza Inc. (DPZ.N) and its franchisees announced on Monday that it would hire more than 20,000 workers in the United States including couriers and pizza makers. The majority of restaurant chains in the United States, including McDonald’s Corp (MCD.N), Chipotle Mexican Grill Inc. (CMG.N), and Dunkin Brands Group Inc. […]
The number of unemployment claims in the U.S. fell to 963,000 last week, making it the lowest in a week since March as virus-led lockdowns continue to slow the pace of the country’s economic recovery. However, the figures showed signs of recovery in the labor market, even as worries that progress has been stalled due […]
The S&P 500 index last traded inches below a record high on Wednesday, with the rally led by tech stocks and hopes for a swift economic recovery from the COVID-19 pandemic. The index rose by 1.37% to 3,379, cutting in close to February’s high of 3,386. Meanwhile, the Down Jones Industrial Average gained by 289 […]
The dollar fell against most majors on Thursday amid weakening hopes for an agreement between Republicans and Democrats over a new coronavirus fiscal aid to support the U.S. economy. The dollar was at a disadvantage following a decline in Treasury yields. However, analysts say that this setback will only be temporary because U.S. lawmakers are […]
The dollar maintained its gains on Tuesday after climbing to a one-week peak on the euro. The greenback’s steady gain is in light of the U.S.-China tensions and the deadlock on the U.S. coronavirus aid supporting safe-haven sentiment. The U.S.-China tensions escalated after a round of exchanges between the two countries, including Beijing’s sanctions on […]
The S&P 500 reached an all-time high on Monday as investors ignored rising United States-China tensions to focus on President Donald Trump’s orders that could lead the economy’s recovery from the coronavirus pandemic. S&P 500’s benchmark index would open at 12 points lower than its February 19 record peak of 3,393.52. Amazon.com (AMZN.O), Netflix Inc […]
Simon Property Group (SPG.N), the largest mall owner in the United States, stated on Monday that it was struggling from the surging coronavirus outbreak in big states including California, Texas, and Florida. The company said that people were scared to go to newly reopened malls which severely affected the retail industry and market sales. Simon […]
The United States government should release another coronavirus fiscal aid to support workers staying at home while the coronavirus outbreak continues to harm businesses, said Chicago Fed President Charles Evans in an interview. Evans said that protecting small businesses and communities to ensure that they can buy food and pay rent is up to U.S. […]
Oil prices dipped earlier on Friday, continuing losses from the previous session as the COVID-19 situation worsened, stalling U.S. talks for a much-anticipated stimulus deal. U.S. West Texas Intermediate (WTI) crude futures fell by 2 cents, trading at $41.93 per barrel by 10:46 PM ET (0246 GMT), while Brent crude futures dipped by 0.1%, last […]
Asian stocks traded lower earlier on Friday as new tensions mounted between the U.S. and China. Recently, U.S. President Donald Trump issued executive orders to halt businesses from ByteDance, the owner of video-sharing app TikTok, and Tencent, owner of the WeChat app from operating within the country after 45 days. Trump added that the orders […]
The dollar fell against its peers on Friday ahead of the release of the U.S. non-farm payrolls data, which investors fear could strengthen the view that momentum in the U.S. economy is slowing. Sentiment firmed against the dollar due to rising U.S. coronavirus cases, a steady decline in Treasury yields, and a stalling of the […]
The second quarter had seen the Philippine economy dropping more than what was predicted. This came to be the first recession of the country in almost three decades as the struggling economy continues to suffer from one of the world’s longest virus-driven lockdowns. The nation’s economy monitored a 16.5% contraction in the second quarter from […]
Indonesia’s economy saw a record contraction since 1999 in the second quarter as the COVID-19 situation continued to affect consumer demand and economic activity in Southeast Asia’s largest economy. Data from Statistics Indonesia reported the country’s GDP to have shrunk by 5.32% from April to June year-on-year in contrast to a forecast of a 2.97% […]
On Monday, the U.S. Federal Aviation Administration published the final list of required design changes to the Boeing Co (BA.N) 737 MAX. It also included some changes to its operation and maintenance procedures that must be completed for the jet to return to passenger service. According to the FAA, the design changes include new software […]
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy contracted by nearly a quarter between February and May with some economists predicting that […]
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound in China and Japan’s manufacturing activities. MSCI’s broadest index of Asia-Pacific shares outside Japan erased initial earnings after dropping […]
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter of the year, some dealers decided to decrease their machine and engine inventories worth $1.4 billion. The construction machinery […]
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power that kept their enterprises unbeaten. Democratic lawmakers criticized the CEOs for buying startup companies and using their data to clone and kill off […]
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range for short-term rates remained between 0% and 0.25% as agreed by all Fed members. The […]
Intel Corp. (INTC.O) announced on Monday that Chief Engineering Officer Murthy Renduchintala would leave the company on August 3. The semiconductor manufacturing company said that it would reorganize its technology, systems architecture, and client groups. However, Intel’s new leaders would report directly to Chief Executive Officer Bob Swan. “I look forward to working directly with […]
On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial services company, filed for insolvency on June after admitting that the 1.9 billion Euros that were supposedly held in trustee accounts […]
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West Texas Intermediate crude was up 0.3%, or 12 cents, at $41.19 per barrel. U.S. […]
Oil prices rose on Thursday, but an unexpected build in U.S. crude oil reserves capped gains as the coronavirus pandemic curbed fuel consumption. U.S. crude and distillate stocks rose while fuel demand fell in the past week as a continuous surge of coronavirus cases hit U.S. consumption. Brent crude grew 0.1%, or 2 cents, to […]
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla Inc.’s shares rose by 4.4% in after-hours trading that could lead to the electric car maker’s inclusion in the […]
The Dollar fell on Tuesday, with the Euro and the British Pound Sterling gaining strength on the back of news that European Union leaders have agreed to roll out additional recovery funds in the region. New hopes for a potential COVID-19 vaccine also benefitted other commodity currencies. The Dollar Index lost 0.1% to 95.718 at […]
Asian share markets were seen upbeat on Tuesday. This was mainly from investors’ high-risk appetite backed by hopes for a coronavirus vaccine and the possibility of a deal by European Union leaders to save their ailing economies. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1.5%, placing near its four-month high seen earlier this […]
Glenmark Pharmaceuticals Ltd was given a notice by the Drug Controller General of India (DCGI) on overpricing and false claims of its generic version of favipiravir, FabiFlu, according to local media reports, sending the company’s shares down as much as 5.8% on Monday. The drug regulator said that “the cost proposed by Glenmark (for FabiFlu) is […]
June had seen Singapore’s non-oil domestic products advancing 16.1% from a year earlier. The reading managed to place above estimates backed by strong activity in shipments of pharmaceuticals, specialized machinery, and electronics, official data showed on Friday. The country’s exports recovered from a revised 4.6% contraction seen in May. The figure placed higher than the […]
Major Japanese banks saw record demand for the corporate loans that were offered since April as the COVID-19 pandemic continues to have companies rushing in to build up cash reserves, according to a central bank survey on Friday. The figures underline the extent of the damage the coronavirus and measures to contain the outbreak have […]
On Tuesday, United States Federal Reserve officials warned a “thick fog of uncertainty” on the U.S. economy as it slowly recovers amid the surge in coronavirus cases. The U.S. central bank stated that the pandemic’s second wave would cause economic pain to deepen again. The U.S. coronavirus cases rose in 46 out of 50 states […]
The euro hit a four-month peak against the dollar on Wednesday on hopes that the European Union would implement economic stimulus and deeper fiscal integration to support the economy amid the pandemic. The euro rose to $1.1423, its highest since early March. It hit a one-month high of 122.47 on the Japanese yen and was […]
Oil prices gained on Wednesday after a steep decline in U.S. crude stockpiles, while markets await OPEC’s next steps on supply cuts to be announced after a meeting later today. Brent crude futures rose 0.2%, or 10 cents, at $43 per barrel. U.S. West Texas Intermediate crude futures were up 0.4%, or 14 cents, at […]
Singapore said on Monday it is ready to release its developed blockchain-based payments network that would pave the way for faster and cheaper international settlements. The Monetary Authority of Singapore joined forces with state investor Temasek and J.P. Morgan to develop the prototype multi-currency payments network, being the final phase of the city-state’s Project Ubin. […]
June had seen Japan’s wholesale prices dropping slower than May’s historic decline. This followed as commodity costs advanced and some of the virus-driven deflationary pressure eased on a rebound monitored in Chinese demand. The corporate goods price index (CGPI) recorded a 1.6% drop in June from a year earlier, data from the Bank of Japan […]
Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 billion over a week. It equals the combined values of Toyota Motor Corp. (TYO), General Motors Co. (GM), Ford […]
Gold traded lower earlier on Thursday in Asia but still remained above the $1,800 mark for three consecutive days. Gold futures lost 0.04% to $1,819.95 per ounce at 10:22 PM ET (3:22 AM GMT), with the yellow metal holding on to gains from previous sessions. The safe-haven asset has managed to reach record levels since […]
Gold traded lower earlier on Wednesday in Asia even as the new COVID-19 cases continue to increase globally. However, gold prices still remained above the benchmark $1,800 level. Gold futures slipped by 0.18% to $1,806.6 per ounce at 12:48 AM ET (05:48 GMT). Stocks, which usually move inversely to gold, also traded lower. COVID-19 cases […]
U.S. President Donald Trump’s administration said on Monday that the small business pandemic aid program worth $660 billion was as a “wild success.” The data showed that 51 Million jobs for America’s small businesses were saved. The Paycheck Protection Program (PPP), overseen by the Small Business Administration (SBA), was given to small businesses such as […]
The economy in the European Union will plunge deeper into recession for 2020 and may recover only slightly in 2021 than previously thought, the European Commission predicted on Tuesday. The downbeat assessment of Europe’s economy comes as concerns piled over the U.S. recovery the surge of new coronavirus infections. The EU executive said the 19-nation […]
The dollar firmed on Tuesday as risks from rising coronavirus infections compensated for strong economic data and capped confidence on economic recovery. The dollar steadied on most majors, while the dollar index held on a near two-week low. The Aussie fell from a one-month high as Melbourne imposed six-week stay-at-home restrictions due to rising cases. […]
Berkshire Hathaway Inc.’s (BRK.A, BRK.B) Chief Executive Officer Warren Buffett announced on Monday that its energy unit agreed to purchase the natural gas transmission and storage assets of utility company Dominion Energy Inc. (D.N) worth $4 billion. It’s the first major purchase from Berkshire since the coronavirus pandemic and subsequent market collapse in March 2020. […]
Asian shares recorded a four-month high on Friday backed by strong payrolls data and an upbeat recovery monitored in China’s services sector. However, an increase in coronavirus cases in the United States restricted further risk-taking. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.5%, hitting their highest level since late February. Meanwhile, Chinese shares […]
May had seen Australian retail sales hitting a record level, official data showed on Friday. This followed after coronavirus-related lockdowns were lifted, allowing the entire sector to reopen and recover from a historic drop monitored in April. The country’s retail sales advanced a seasonally adjusted 16.9% in May. The reading came better after it tumbled […]
The U.S. economy likely boosted employment at record levels in June as more bars and restaurants resumed operations. Though this would indicate that the virus-driven recession was probably over, an upsurge in new coronavirus cases threatens any economic pick-up. Despite recording two consecutive months of gains, the country’s employment would still be about 16.6 million […]
Asian stocks were mixed on Wednesday, while safe-haven assets such as gold and the Japanese Yen remained steady as the surge in COVID-19 cases in the United States dampened recovery hopes from stronger-than-expected factory activity in China. The MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2% with Chinese blue chips leading with a […]
Oil prices rose on Wednesday after U.S. crude inventories fell more than expected, hinting at an improving demand amid the resurgence of coronavirus. Brent crude gained 0.8%, or 33 cents, at $41.60 per barrel. U.S. crude added 1.1%, or 42 cents, at $39.69 per barrel. Both U.S. crude and gasoline stocks fell more than expected […]
Japanese industrial output in May dropped to its lowest level since the global financial crisis, underlining the deep impact of the coronavirus pandemic on factory productivity. Japan’s Ministry of Economy, Trade and Industry data reported an 8.4% fall to 79.1 in factory output in May. The country is headed for its worst postwar recession. May’s […]
Vietnam’s economic growth slowed to a total of 0.36% in the second quarter. The reading came to be the slowest pace in decades and it could be attributed to the disruptions brought by the novel coronavirus pandemic. The country’s gross domestic product in April to June quarter hit 0.36% from a year earlier. This came […]
Asian stocks fell earlier on Monday as the surge in COVID-19 cases in several countries dampened hopes for a quick economic recovery. The total number of cases worldwide has reached over 10 million, resulting in over 500,000 deaths as of June 29 according to data from the Johns Hopkins University. China’s Shanghai Composite fell by […]
European shares firmed and oil prices rose on Friday as markets turned positive despite a record rise in coronavirus cases in the United States. European shares opened higher, with the FTSE 100 up 1% and the Stoxx 600 up 0.8%. The MSCI world equity index was up 0.3%. The 10-year Treasuries yield steadied at 0.6725%, […]
On Friday, the market saw oil prices climb, an extension of its gains from the day before. Despite a resurgence in COVID-19 cases in some regions of the United States over the past days, the gains have been accumulated in light of the industry’s optimism for fuel demand across the globe. U.S. West Texas Intermediate […]
On Thursday, airline group Lufthansa and unions representing German cabin crew reached an agreement that is set to reap more than 500 million Euros worth of savings. The German airline group stated in an interview that the measures, assented with UFO, had included procedures that aimed to stop pay rises, working hour cuts, and pension […]
Italy’s Treasury announced on Wednesday the state’s approval to a 6.3 billion euro ($7.1 billion) loan to Fiat Chrysler, directed to its unit in Italy. This is the largest crisis loan granted to any auto firm to date. The announcement followed an endorsement by the Italian audit court, ending the long approval procedure for the […]
The Bank of Japan (BOJ) on Wednesday offered ¥8.28 trillion ($77.74 billion) in loans to financial institutions under its first phase of its new lending program. The move came in a bid to transfer funds to firms that have been heavily affected by the COVID-19 pandemic. The 3-month loans will be extended on Thursday through […]
Gold prices surged to their highest in almost 8 years on Wednesday as global shares showed signs of slowing amid the number of rising COVID-19 cases reeled in caution. Spot gold gained 0.2% to 1,770.92 per ounce after it had reached a record $1,773.00, its highest since October 2012 during early trade in Asia. Meanwhile, […]
Oil futures dropped on Wednesday as the build in U.S. crude inventories exceeded forecasts, raising concerns of oversupply. Brent crude lost 2 cents to $42.61 per barrel, while U.S. West Texas Intermediate crude futures slid 0.1%, or 4 cents, to $40.33 per barrel. U.S. crude stocks rose 1.7 million barrels last week, significantly bigger than […]
Asian shares recorded a four-month high on Wednesday brought by investors’ upbeat outlook for the global economy’s resumption. Meanwhile, investors’ sentiment grew even as cases of the novel coronavirus were seen reaching unprecedented levels. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.5%, reaching its strongest record since the virus crisis ravaged markets in […]
Wall Street’s three major indexes soared on Tuesday as improving economic data and the prospect of larger stimulus increased hopes of fast economic recuperation. More so, the Nasdaq reached another record high backed by a jump in technology shares. The Dow Jones Industrial Average recorded a 0.5% jump while the S&P 500 closed its session […]
Oil prices held steady on Tuesday, remaining unchanged from gains in the previous session after demand for fuel showed signs of picking. Brent crude rose by 6 cents to $43.14 per barrel at 0046 GMT after previously gaining 2.1% on Monday. U.S. oil rose by 8 cents to $40.81 per barrel after having risen by […]
Great Britain’s automobile industry called on the government to provide additional measures such as sales tax reduction. This aims to lift the suffering sector as a third of automotive employees remain furloughed due to the novel coronavirus pandemic. Car and van volumes are likely to drop by a third to 920,000 units this 2020 while […]
June had seen Japan’s manufacturing activity struggling at an 11-year low. This indicated that the novel coronavirus pandemic has greatly affected manufacturers even as services-sector confidence advanced. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 37.8. It followed after placing at 38.4 in May. This came to […]
Oil prices fell on Monday as fears that a second coronavirus wave could delay the recovery for fuel demand and outweigh the record output cuts. Brent crude slid 0.2%, or 10 cents, at $24.04 per barrel. U.S. crude dropped 0.3%, or 11 cents, at $39.72 per barrel. Both benchmarks increased 9% last week. In the […]
Japanese clothing brand Uniqlo began selling its washable and fast-drying face masks on Friday. Customers stood in long lines as rain poured down outside of stores prompting a flood of social media photos. Uniqlo’s website crashed due to the massive demand for the washable AIRism face masks. The servers remained down past midday and some […]
Japan raised its economic outlook in June for the first time in two years. This followed after the government monitored that the economic drag brought by the novel coronavirus pandemic had nearly come to an end. The country’s report for June indicated that the economy is still under an extremely severe situation as the pandemic […]
Japan’s core consumer prices were seen struggling for two consecutive months in May. This increased deflation expectations and prompted policymakers to provide more economic reinforcements for the virus-beaten economy. The country’s core consumer price index (CPI) dropped a total of 0.2% in May from a year earlier, government data showed on Friday. This followed after […]
Oil prices dropped 2% on Thursday as a surge in new coronavirus cases in the United States and China renewed fears about a slow recovery in fuel demand. Brent crude futures lost 1.5%, or 61 cents, at $40.10 per barrel. U.S. West Texas Intermediate crude futures fell 2.1%, or 80 cents, at $37.16 per barrel. […]
The dollar and the yen gained on Thursday as growing fears about a second coronavirus wave favored the appetite for safe-haven currencies. Several U.S. states reported a surge in new coronavirus cases and Beijing imposed travel restrictions in the capital to contain a second outbreak of the virus. Both served as a reminder of the […]
Tuesday morning saw the price of gold in Asia, effectively offsetting a number of its losses from a session before. The reported climb recorded after the U.S. Federal Reserve moved to buy individual corporate bonds through the secondary market that had effectively increased risk appetite. Gold futures went up by 0.51% at $1,736.05 by 12:17 […]
The dollar fell on Tuesday following the U.S. Federal Reserve’s announcement to begin broad buying of corporate debt, lifting appetite for risk currencies. The Fed said that it will start buying diverse investment grade U.S. corporate bonds on Tuesday. This was to ensure companies’ access to cash and guarantee credit market liquidity amid the pandemic. […]
Asian stocks rose earlier on Tuesday, surging overnight in U.S. markets after the Fed announced new measures in a bid to recover the U.S. economy from the COVID-19 virus. Japan’s Nikkei climbed by 3.42% at 10:16 PM ET (3:16 AM GMT), as investors await the Bank of Japan’s policy decision later in the day. Meanwhile, […]
The dollar gained, while commodity currencies dropped as investors turned away from risky currencies amid fears of a second coronavirus wave lambasting major economies including China, Japan, and the United States. Beijing reported new infections for the second day on Monday, while the United States posted 25,000 new cases on Saturday alone. The dollar index […]
Estate agents in England have monitored a recovery in property sales. This could be attributed to the government’s move of lifting lockdown restrictions on May 13, Rightmove said on Monday. Rightmove said that property sales during lockdown dropped by 94%. June 5 records showed that sales were just 3% below their level a year earlier. […]
On Thursday, assailed by another record build-up in U.S. crude inventories, oil prices fell. Also contributing to its dip is the projection made by the U.S. Federal Reserve that the world’s largest economy would see a shrink of 6.5%. Wednesday’s gains had been offset by Brent crude futures’ fall of 3.6%, or $1.50, to $40.23 […]
Oil prices fell more than 2% on Thursday on concerns over record stockpile growth among dwindling demand. Investor sentiment soured after the Federal Reserve estimated that recovery from the pandemic could take years. Meanwhile, U.S. crude stockpiles grew unexpectedly by 5.7 million barrels, seeing a record 538.1 million barrels in a week towards June 5. […]
The dollar bounced on Wednesday amid speculation that the U.S. Federal Reserve will take steps to control the rise in bond yields at its policy meeting. The dollar stood at 107.72 against the yen in Asian trade. It traded at 0.9512 on the Swiss franc. Investors are focused on the Fed policy meeting next week […]
On Tuesday, the International Air Transport Association (IATA) announced that international airlines are in line to make a combined net loss of more than $84 billion this year due to the coronavirus crisis which has decimated air travel demand. According to IATA, airline revenues would likely fall from $838 billion to $419 billion this year. […]
Early Tuesday saw European stocks push lower, resulting from signs of a weakening German economy, the region’s industrial powerhouse. The DAX in Germany traded 0.9% lower at 3:55 AM ET (0705 GMT). Also experiencing the plunge are France’s CAC 40 which fell by 0.7% and the U.K.’s FTSE index by 0.7%. In April, German exports […]
The breakfast and coffee chain Dunkin’ Brands Group Inc. (DNKN.O) stated on Monday that its franchise operators are planning to hire up to 25,000 employees in light of high demand after the United States reopened the restaurant industry. The Massachusetts-based company said that 90% of its restaurants were reopened and it would hire new jobs […]
European shares turned from three-month highs on Monday after technology and healthcare stocks saw losses. The drop dented hopes of an economic recovery from the COVID-19 pandemic. The STOXX 600 index slipped 0.4% as investors retreated from expensive names and flocked to banking, auto, and oil & gas stocks. Europe’s healthcare index lost 1.5%, with […]
April had seen Japan’s household spending dropping at its most rapid pace. The index fell as the novel coronavirus crisis halted travel and dining demand in the world’s third-biggest economy. More so, consumer sentiment dropped as unemployment surge looms. Household spending recorded an 11.1% drop in April from a year earlier, government data showed on […]
On Thursday, the semiconductor manufacturing company Broadcom Inc. (AVGO.O) posted its second-quarter revenue estimates worth $5.742 billion and suggests a delay on the Apple Inc.’s (AAPL.O) iPhone 12 launch on the first week of September 2020. According to IBES data from Refinitiv, the chipmaker company was expected to report $5.79 billion in sales and earnings […]
Gold fell earlier on Thursday in Asia, losing a portion of its earlier gains amid escalating tensions between China and the United States. Investors flocked to the yellow metal on Wednesday after the U.S. suspended flights by Chinese airlines into the country with effect from June 16. Washington’s decision came after China had barred American […]
The Warner Music Group Corp. (WMG.O) got off to a positive start on its Nasdaq debut on Wednesday. The world’s third-largest recording label sold shares worth $1.9-billion, marking the largest initial public offering in the United States this year. The WMG.O stock was opened for trading at 8% above its initial public offering price of […]
May had seen Japan’s manufacturing sector dropping at its most rapid pace since March 2009, a private sector poll showed on Monday. The sector’s inactivity was due to a slump in demand brought by the novel coronavirus crisis. Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 38.4. It placed lower than April’s […]
American Airlines Group Inc. stated on Wednesday that it plans to cut 30% of its management and support staff or almost 5,000 jobs because of the coronavirus outbreak. American and other airlines are scrambling to cut costs because of the pandemic’s devastating effect on the aviation industry, which has pushed them to their first losses […]
The dollar fell on Tuesday as signs of recovery from the pandemic lifted risk appetite, but the U.S.-China tensions weighed in. Commodity currencies Australian and New Zealand dollars both gained 0.5%, standing at $0.6571 and $0.6129, respectively. The Chinese yuan stood at $7.1326 in onshore trade. The Japanese yen traded at 107.80 on the dollar. […]
India’s economy seemed to have expanded at its slowest pace in at least eight years in the first quarter. Weak growth was partly from the government’s efforts aimed at containing the further spread of the novel coronavirus. Asia’s third-biggest economy ran slower than its recorded pacing in 2019 as the implementation of a countrywide lockdown […]
The dollar bounced on Thursday as the market mood turned positive, but U.S.-China tensions and weak economic indicators weighed in. The euro, as well as the Australian and New Zealand dollars, lost half of its overnight gains. The pound also slipped as soft inflation hinted at negative rates. The Australian dollar stood at $0.6561 and […]
Clothing manufacturer Canada Goose Holdings Inc. (GOOS) announced on Wednesday that it would permanently terminate about 2.5% of its global workforce to address the impact of the virus outbreak leaving 125 people unemployed. The Toronto apparel maker said that it would continue supporting its laid-off workers, while Canada Goose’s staff will receive compensation packages and […]
The first 20 days of May had seen a slump in South Korean exports. The country’s exports dropped a total of 20.3% from a year earlier as U.S.- and E.U.-bound shipments grew inactive, indicating that the coronavirus contagion dragged global demand. However, the numbers came out better than the 27.6% decline in April. More so, […]
Asian stocks were mixed earlier on Wednesday, giving up its gains made on the previous day. Market sentiment remained so after several vaccine experts reported that U.S. biotech firm Moderna had not provided sufficient information on the efficacy of its potential COVID-19 vaccine. Stocks saw a boost on Tuesday after Moderna revealed on Monday that […]
The euro firmed on Wednesday following France and Germany’s proposal for a common fund in Europe’s hardest-hit regions in the crisis, while the yen neared to a five-week low despite risk appetite. The euro rose 0.15% to 1.0940 against the dollar. It traded at 1.0615 per Swiss franc. It stood at 118.20 on the yen, […]
Qantas Airways Ltd.’s Chief Executive Officer Alan Joyce stated on Tuesday that the company would resume its operations with 40-50% of its domestic flights in July if the government would ease travel restrictions. The Australian airline would offer cheap flights and flexible fares to stimulate travel demand, but without social distancing measures. Starting June 12, […]
J.C. Penney Co Inc. (JCP) stated on Wednesday that it plans to cut store count by approximately 29% to about 604, two days after filing for bankruptcy protection. The U.S. department store chain considers closing more than a fourth of its stores to reduce costs amid the pandemic. J.C. Penney did not identify which stores […]
On Monday, European stocks climbed up alongside oil prices, considerably at their highest in more than a month. These took place as lockdowns are being loosened, thus bolstering market sentiment despite COVID-19 not being contained entirely. With the warm weather inviting the nations to re-emerge from government-sanctioned lockdowns, centers of the outbreak like New York […]
European shares climbed on Friday as Chinese factory output increased, but U.S.-China tensions remain. The pan-European STOXX 600 surged 1.4%, with travel stocks gaining 2.7%. Miners .SXPP and chip makers also rose after China’s industrial output increased 3.9% in April. Global stock markets fell this month after continuous gains in April due to fears of […]
The Dollar fell on Friday morning, losing some of its gains from the day before. Investor fears mounted as tensions escalated between the U.S. and China after U.S. President Donald Trump signaled in an interview the night before that he might sever ties with the second-largest economy. The U.S. Dollar Index dipped by 0.34% to […]
Asian stocks were mixed on Friday morning, putting an end to a rough week for the market. Investor sentiment remained unsure even as China rolled out efforts to recover from the COVID-19 pandemic. China reported a 3.9% increase in industry activity for April year-on-year, performing better than an Investing.com forecast of a 1.5% increase. However, […]
Australia’s unemployment rate is expected to hit its largest monthly increase. The anticipated surge in joblessness was mainly from the disruptions brought by the COVID-19 pandemic, even as the country started lifting quarantine restrictions gradually. The frail reading will highlight the impact of the coronavirus crisis on the national economy, with sharp reversal widely […]
The American aerospace company Boeing Co. (BA.N) said on Tuesday that it failed to sell a single commercial airplane this year with clients cancelling another 108 orders for its grounded 737 MAX planes. It marked the second month this year in which Boeing received zero orders making it the worst year for the company since […]
Gold prices fell on early Tuesday in Asia, losing gains from the previous session amid mounting fears of a second COVID-19 wave. Gold futures lost 0.7% to $1,705.65 per ounce at 12:05 AM ET (5:05 AM: GMT). China and South Korea have been moving quickly to contain a second outbreak that had spread over the […]
The Finance Ministry of the United Kingdom worries that the government’s budget deficit this year could reach a record 337 billion pounds as the coronavirus pandemic continues to wreak havoc to the British economy. This development is cited by an internal government document as reported by the Telegraph newspaper on Tuesday. If worse comes to […]
The dollar hit a two-week high against major currencies on Tuesday amid rising U.S. bond yields and a higher demand for safe haven. This came after reports of new infections threatened a possible second coronavirus wave. The Australian dollar lost 0.8%, at $0.6432, nearing a one-week low. The New Zealand dollar slipped 0.4%, at $0.6047. […]
Oil futures gained on Tuesday, lifted by Saudi Arabia’s deeper production cuts to buoy prices amid the supply glut and weak demand. Brent crude futures rose 0.8%, or 24 cents, at $29.87 per barrel. U.S. West Texas Intermediate crude futures climbed 1.6%, or 38 cents, at $24.52 per barrel. Saudi Arabia announced an additional 1 […]
The American multinational pharmaceutical corporation Pfizer Inc. (PFE.N) announced on Friday that it will subscribe to contractors outside the company for it production. It is in preparation for a large-scale production of the experimental COVID-19 vaccine, provided it proves effective in curing the deadly coronavirus. According to an interview conducted by Reuters, the President of […]
Gold prices fell on Monday morning in Asia, but still remained above the $1,700 mark. Gold futures dropped by 0.26% to $1,709.60 per ounce by 11:58 PM ET (4:58 AM GMT). Meanwhile, Asian stocks saw gains. Gold and stocks have been observed to move in the opposite directions. With fears growing of a second wave […]
The British Pound Sterling recovered from a two-week low after the Bank of England (BOE) announced that it had decided to maintain the size of its bond-buying program. The UK central bank had previously slashed its benchmark interest rates to a record low of 0.1% and had pledged to buy a debt of £200 billion […]
Global shares floundered while the yen rose on Wednesday as markets in China struggled in regaining momentum after a long holiday. Dampened market mood could be attributed to the Sino-U.S. dispute while oil failed to extend high records due to weak demand. Wall Street futures reversed after recording a positive start, with S&P E-mini futures […]
Oil prices gained on Tuesday after fuel demand turned positive as lockdowns began to ease in some parts of the world. West Texas Intermediate crude futures were up 6.5%, or $1.33, at $21.72 per barrel. Brent crude futures rose 4.8%, or $1.31, at $28.51 per barrel. The market mood eased after U.S. states and countries […]
April results showed South Korea’s factories suffering under the pandemic. Global quarantine restrictions sent manufacturing operations declining the fastest since 2009 and exporters beaten by the historical drop in demand in 16 years. April figures show that the IHS Markit purchasing managers’ index (PMI) declined to 41.6 from its initial standing of 44.2. This […]
Japan’s tech conglomerate SoftBank Group Corp said it sees a loss of nearly ¥700 billion ($6.6 billion) by the end of March on its WeWork investment outside the Vision Fund. Furthermore the group is also expecting a net loss of ¥900 billion from the investments made through the $100 billion fund. The announcement comes as […]
The German government finally decided to help its flagship carrier Lufthansa (LHAG.DE) with a state aid worth around 9 billion Euros ($9.74 billion) in return for a blocking minority and one or two commands from the Supervisory Committee, news outlet Business Insider reported on Tuesday. According to Business Insider, German government representatives and Lufthansa had […]
On Sunday, China’s second-largest pork producer, Muyuan Foodstuff Co. reported a net profit of CNY4.1 billion ($578.86 million) for the first quarter of the year at the Shenzhen Stock Exchange. Muyuan’s shares soared by 5.21% to CNY135.09 ($19.19) per share at 12:57 AM ET (5:57 AM GMT). The company had previously reported a net loss […]
The European Union organizations affected by the virus outbreak will have the option to request a government loan up to 5% of their turnover last year under a benchmark proposed by the European Commission, a reliable source stated on Sunday. Different sources with direct understanding on the issue told Reuters on Saturday that some EU […]
Today, April 24th saw the falling of Asian shares and U.S. stock futures. This resulted from doubts on narcotics that could potentially cure COVID-19 and an apparent damage in the U.S. economy due to the outbreak. Among the shares in the Asian regions that fell are MSCI’s broadest index of Asia Pacific outside Japan with […]
Oil prices gained on Friday as Kuwaiti oil producers said they will slash output to compensate for low demand. Brent crude rose 2.8%, or 60 cents, at $21.93 per barrel. U.S. oil was up 4%, or 66 cents, at $17.16 per barrel. As the West Texas Intermediate fell into negative territory and the Brent in […]
Streaming service giant Netflix Inc (NFLX.O) will raise a $1 billion debt on Thursday to fund original shows and potential acquisitions. The American media-services provider and production company revealed that they have more than doubled its own projections for new customers and admitted that it was all because of the virus outbreak. The company’s shares […]
On Wednesday, a leading financial industry trade group told regulators, “U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over.” Together with the Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC) exchange operators […]
A poll released on Thursday showed that the virus outbreaks heavily damaged Asian economies in April. The weak economic activity was brought by the implemented social-distancing measures and business shutdowns which damaged the region’s services sector. The pandemic, which has resulted in 180,000 deaths and 2.5 million cases worldwide, has also brought disruptions to the […]
In an internal memo seen by Reuters, American multinational investment bank, JPMorgan Chase & Co (JPM), informed its employees on Tuesday that it is creating a plan to gradually return to on-site work. Discussions about the reopening of the U.S. economy are still ongoing amid the virus outbreak that had thrown 22 Million American citizens […]
Singapore might see a deeper recession for 2020 after the city-state extended its partial lockdown, investment banking company Citigroup Inc warned on Tuesday. The nation’s GDP could shrink by 8.5% in contrast to its previous forecast of a 6% contraction, according to a note by economists Wei Zheng Kit and Kai Wei. The change in […]
According to CEO Randy Garutti and founder Danny Meyer, Shake Shack Inc (SHAK) will return all $10 Million it received from the U.S. government as a part of the Small Business Administration (SBA) loan on Tuesday. The burger chain is the first major company to immediately return the budget handed by the government to aid […]
The British government will launch a 1.25 billion pound package ($1.6 billion) on Monday to support and protect innovative companies amid the virus outbreak. The package includes a 500-million pound investment fund for high-growth firms that were severely affected by the crisis and 750 million pounds for small and medium sized businesses that were focused […]
The novel coronavirus pandemic threatens the economic growth of Asia and is likely to halt the economy for the first time in six decades. The International Monetary Fund rendered the forecast on Thursday as the global contagion continues to inflict disruptions in the services and export sectors. The IMF released figures indicating that while Asia […]
The dollar rose against Asian currencies on Wednesday after the U.S. Federal Reserve announced a new lending program. However, the dollar faced strong headwinds following the release of U.S. retail sales and industry data which revealed the economic damage caused by the pandemic. U.S. President Donald Trump announced on Tuesday night that he was aiming […]
South Korea’s crude imports in March dropped 2.1% year-on-year, dragged down by weak demand amid the coronavirus pandemic. The world’s fifth-largest crude importer purchased 11.30 million tonnes of crude oil in March, equivalent to 2.67 million bpd. Crude imports a year earlier amounted to 11.54 million bpd. South Korea’s decline in imports came after oil […]
Oil prices were up on Wednesday as investors went on a bargain spree after the last session’s decline and on hopes that countries will fill their strategic reserves. However, threats of a global recession and oversupply prevented further gains. Brent futures rose 1.3%, or 38 cents, at $29.98 per barrel. U.S. West Texas Intermediate crude […]
Asian shares recuperated on Wednesday amid an impending worst global recession in seven decades highlighted a severely hurt economy while some countries attempted to resume businesses. The interest rate reduction prompted MSCI’s broadest index of Asia-Pacific shares outside Japan to advance with 0.3%, hitting its one-month high. However, the Japanese benchmark index Nikkei had declined […]
The dollar fell on Tuesday while risk currencies rallied after China’s trade data showed a more optimistic view than anticipated. The coronavirus death toll slowdown brought hopes to investors that the pandemic may be over soon. Yuan-denominated exports declined 3.5% year-on-year, while imports gained 2.4%, according to customs data on Tuesday. The Australian dollar was […]
Oil gained more than 1% on Tuesday as the U.S. energy forecasting agency said that shale output would have a record decline in April, adding to production cuts agreed between other major oil producers. Brent futures gained 1.7%, or 53 cents, at $32.27 per barrel. U.S. West Texas Intermediate crude rose 1.4%, or 32 cents, […]
Gold prices carried gains well from the previous session and regained its status as a safe-haven commodity as the COVID-19 pandemic continues to disrupt global economy. Gold Futures reached record levels on Monday and rose by 0.35% to $1,797.6 per ounce at 9:25 PM ET (2:25 AM GMT). The rise comes as investors subscribed to […]
Samsung Electronics Co Ltd (005930.KS) disclosed on Tuesday that its first-quarter operating profit inched up to 3%, surpassing analysts’ expectations as chip sales nursed the impact of the coronavirus contagion on smartphones and televisions. Samsung expected a total of 6.4 trillion won (equivalent to $5.2 billion), to be its operating profit in the quarter ended […]
The British pound will have recovered its losses against the dollar in a year. However, analyst forecasts a month ago were cut as the coronavirus continues to create chaos. The pound declined in recent weeks as concerns about the pandemic’s impact on the economy drove investors to safer currencies and to liquidize assets in exchange […]
The U.S. Treasury Department hired lawyers and Wall Street bankers to serve as consultants regarding billions of dollars’ worth of aid to the defense, cargo, and airline sectors, sources said. The aid advice followed the approval of a $2.2 trillion stimulus bill last week to ease the economic fallout amid the pandemic. The virus has […]
Crude oil futures gained almost 5% on Thursday after U.S. President Donald Trump stated that he anticipated an agreement will be reached by Saudi Arabia and Russia regarding their price war. Brent crude futures climbed 4%, or $1, at $25.74. US West Texas Intermediate crude futures rose 3.7%, or 75 cents, at $21.06. Trump said […]
The Orbit Showtime Network has announced the launch of Walt Disney Co’s (DIS.N) Disney+ in the Middle East and North Africa. It will be accessible on pay television and streaming service provider starting on Thursday. OSN has revamped its range of services and now has shows like Disney’s recent hit “The Mandalorian.” Disney+ is available […]
Macy’s M.N, an American department store chain, dropped its spot from the S&P 500 Index standard. Macy’s shares dropped 80% in the last 12 months of their operation which results in a lowered market value of $1.52 billion as of Tuesday’s close, based on Refinitiv IBES data. The company said that the store closures and […]
Asian shares recorded a positive but cautious increase on Tuesday as figures from China indicated that the factory sector regained momentum. MSCI’s broadest index of Asia-Pacific shares acquired 1.1% and Japan’s benchmark index Nikkei added 1.0% after a tumultuous start. South Korea’s .KS11 finished its session with 2% gains. China’s official manufacturing purchasing manager’s index […]
Indonesian stocks plummeted to a level that resulted in a temporary trading halt as the number of infected cases by the coronavirus locally and globally increased significantly. The Jakarta Composite Index plunged by 5%, ending its 2-day gain streak and triggering a 30-minute trading halt. The benchmark had previously soared by 15% in the past […]
Gold prices fell from its two-week high perch on Friday in Asia amid a recovery in equities. Gold Futures for April delivery last traded on the Comex exchange at $1,640, dropping by 0.7% by 12:55 AM ET (04:55 GMT). Despite the day’s losses, gold trade at a high above 8% for the week and has […]
The Reserve Bank of India (RBI) decided to cut interest rates unexpectedly on Friday in an emergency move to bolster the nation’s economy affected by the virus outbreak. The RBI’s move joins many other stimulus-boost efforts by central banks around the world. Its benchmark rate was cut by 75 basis points from 5.15% to 4.40% […]
The Australian central bank bought semi-government bonds for the first time since the quantitative easing program launched to counter the pandemic and its impact. The Reserve Bank of Australia purchased A$2 billion ($1.2 billion) in semi-government bonds maturing in January 2026 to June 2030. As businesses in Australia stopped operations due to lockdown, the semi-government […]
Nike Inc (NKE.N) beat estimates for quarterly income on Tuesday as strong digital market covered the first China sales drop in nearly six years from the coronavirus-powered shutdowns, yet the company held back from providing an estimate forecast due to the unrelenting pandemic. The coronavirus outbreak forced Nike to temporarily close down stores to help […]
India stocks rose, taking back ground after record losses on Monday after investors picked stocks that have dropped significantly as the nation goes into lockdown to limit the spread of the COVID-19. The S&P BSE Sensex gained by 1% to 26,239.96 as of 9:47 AM in Mumbai. Meanwhile, the NSE Nifty 50 Index had also […]
TOKYO- The dollar topped the trading board against basket of other major currencies on Monday. Upbeat performance was mainly from investors’ decision of resorting to fiat currencies as recent setbacks faced by global stocks and concerns of tightening liquidity continue to press. The U.S. greenback gained against sterling and recorded its strongest activity since 1985. […]
U.S. Federal Reserve officials with experience handling crises said that the central bank was open to roll out additional action in order to soften the economic impact of the coronavirus pandemic. As of now, the Fed are aiming to provide assistance to corporate bonds as well as local and state governments. St. Louis Federal Reserve […]
The New York Stock Exchange is set to close its trading floors and transition to electronic trading for the mean time after an employee and a trader tested positive for COVID-19. The two were last in the building on March 13, said NYSE owner Intercontinental Exchange Inc. NYSE is set to close some of its […]
Global airlines are caught in a bind as the coronavirus outbreak reaches for their bottom dollar. They had slashed capacity by 90% and had even grounded fleets due to travel restrictions. The ungodly spread of the virus had managed to take out 41%, or $157 billion, of the share value of 116 listed airlines […]
US stock futures slid in Asian trade on Wednesday as pandemic fears grew on policy support to protect economies from fallout. U.S. stock futures dropped 2.0%, following a 6.00% gain in S&P 500 on Tuesday, recovering half of its losses on Monday. S&P 500’s gain came after the coordination of global fiscal policies in order […]
The U.S. Dollar held overnight gains against most major currencies on Wednesday amid a rise of U.S. yields and piling fears of the economic impact of the coronavirus pandemic had investors retreating to the Greenback. The British Pound as well as the Japanese Yen attempted to recover at its best efforts but only managed to […]
Samsung Electronics Co Ltd said on Wednesday that while the piling economic fears of the coronavirus pandemic would hurt sales of consumer electronics for 2020, it said that a growing demand from data centers could potentially restore its memory chip markets. Chief Executive Kim Ki-nam said that the virus outbreak as well as the U.S.-China […]
Gold prices took back ground from Tuesday’s $1,500 drop on Wednesday morning as new U.S. stimulus package bounced stock markets sharply overnight. Gold futures inched up by 0.55% to $1,534.20 by 10:20 PM ET (2:20 AM GMT). The rise in gold prices has been widely attributed to recent efforts around the world to prevent a recession. Central […]
The United Kingdom had announced on Tuesday that it would be ramping up on support for businesses affected by the virus outbreak. The government had recently told its people to avoid public areas such as pubs, restaurants, and theaters which had hurt a majority of companies in the country. The Bank of England’s Finance minister […]
Oil gained over $1 on Tuesday as investors began bargaining due to recent steep declines in prices caused by the pandemic and the Saudi Arabia-Russia price war. However, fears of recession still loom over the market. Brent crude went up 1.8%, or 55 cents, at $30.60 per barrel, following a high of $31.25. U.S. West […]
The Bank of Japan is awaited to acquire other steps to balance the markets and minimize the economic impact from the coronavirus outbreak in an emergency meeting on Monday. They were connected with other central banks and they also tried to calm the investors. The Japanese central bank was prepared to increase asset purchases and […]
Canada’s Prime Minister Justin Trudeau will be isolated for two weeks because his wife, Sophie Gregoire Trudeau, had confirmed positive for coronavirus on Thursday. The outbreak led the province of Ontario to screen the schools to limit the spread. Sophie Gregoire Trudeau recently came back from London and showed flu-like symptoms. “She was tested for […]
Oil prices rose for the second consecutive day on Wednesday as markets clung to potential production cut by U.S. producers. However, increase in prices were smaller compared to the crash on Monday after Saudi Arabia started a price war with Russia. West Texas Intermediate jumped 3.3%, or $1.12, at $35.48 per barrel, while Brent crude […]
Most of Asia Pacific stocks, save for the US stocks which gained after the outbreak of the novel coronavirus, fell on Tuesday. The benchmark for Australian’s equity performance S&P/ASX 200 was up 1.7%, regaining previous losses. It’s now trading nearly 19% below its most recent high, just under the 20% which still remains in a […]
Bank of Japan Governor Haruhiko Kuroda said he was analyzing the financial blowback from volatile market movements. Kuroda confirmed central bank’s preparedness to take appropriate action to increase assistance in obstructing the developing dangers from the coronavirus flare-up. He also disclosed the BOJ’s prediction which revealed its holdings of exchange-traded funds (ETF). Paper losses may […]
Asian shares recovered and bond yields climbed from all-time lows on Tuesday as potential organized stimulus from central banks and governments globally calmed markets. The 10-year US Treasury yields rose to 0.68% and oil prices hiked over 6%, raising notions that the market steadied, even for a while. Senior FX strategist Rodrigo Catril at National […]
TOKYO- The dollar managed to climb on Tuesday after meeting sharp decline versus Swiss franc, yen, and euro. Such boost was enforced by optimism on US economic stimulus and recovery in Treasury yields. The previously beaten dollar found its momentum and recovered from previous defeat against other currencies. It clocked in 1% to 103.26 […]
SYDNEY- Global shares plummeted on Monday as wary investors sought bonds to equalize the economic impact of the novel coronavirus. Oil followed trend and shed more than 20% after Saudi Arabia cut its official selling price. Investors anxiously resorted to 30-year U.S. bonds pushing it up neutral to 1%. Such followed as markets anticipated that […]
The Asian Development Bank (ADB) said on Friday that the spread of the exceedingly infectious coronavirus outside of China might cut worldwide economic growth for the year. According to the Manila-based lender, the outbreak could cut global GDP by 0.1% to 0.4% with losses reaching between $77 billion and $347 billion. In Asia, development could […]
SYDNEY- Australia’s economic growth picked up pace and soared beyond what is expected last quarter. The recovery removed the threat of recession even as bushfires and novel coronavirus contagion brought disruptions to tourism and the travel sector earlier this year. The risks posed by the COVID-19 urged the Reserve Bank of Australia (RBA) to reduce […]
Box Inc. predicted its first-quarter revenue to beat Street estimates due to higher demand for its online software products, causing its shares to gain 9% in extended trading. The company beat fourth-quarter profit and revenue, lifted by its add-on services and the subscription of bigger companies to its products. As companies move to an online […]
The dollar slipped on Wednesday as investors question its relative strength, together with other US financial assets, as central bank imposed rate cuts and health officials warned of a potential domestic virus outbreak. The dollar’s index declined to 98.980 against a basket of major currencies. It lost 0.9% since its peak at 99.915 the previous […]
The S&P 500 dropped to its lowest in two years on Monday when a sudden rise in coronavirus cases outside China caused investors to worry about valuation after the recent highs. The S&P 500’s 3.5% drop was its heaviest fall in a day since February 2018, during Wall Street’s correction. Market fears came after investors […]
SYDNEY- Asian share markets tried to find and gain momentum after earnings from early session declined and Wall Street futures soared far from its previous inactivity. The positive performance eased investors’ wariness brought by the coronavirus contagion. Reports have it that a vaccine eased investors’ heavy sentiment. However, human tests of the medication may take […]
PepsiCo agrees to buy Chinese snack brand Be & Cheery for $705 million PepsiCo Inc has agreed to buy the China-based snack brand Be & Cheery from Haoxiangni Health Food Co Ltd for $705 million, according to the companies. Haoxiangni said, in a separate filing, that its decision to sell the snack brand was so […]
Canada’s Teck Resources Ltd. pulled back the request to build a C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, which had been heavily criticized by environmentalists and indigenous groups and is on the final stage of decision for approval. Teck said that it would write down the project’s C$1.13 billion ($852.12 million) carrying […]
SINGAPORE- Oil lost an estimated 3% earnings and fell close to hitting one-week low on Monday as the rapid coronavirus contagion outside China dampened markets sentiment and made investors wary on dwindling crude demand. Global shares also hit lower grounds as virus concerns resurfaced brought by bloating records of virus cases in South Korea, Italy, […]
Alibaba Group Holdings announced on Monday that its affiliate Ant Financial’s MYBank unit is out to lend 20 billion yuan ($2.86 billion) in loans to firms in China amid the coronavirus spread, with special offerings for companies in Hubei province. According to Alibaba’s official statement posted on its official Weibo account, 10 billion yuan will […]
Japan’s economy fell to its fastest pace in six years, caused by a sales tax hike that hit business and consumer spending, worsening an outlook already affected by the virus outbreak. Analysts say that the epidemic could weaken growth in the current quarter and thrust Japan into recession. Japan GDP fell 6.3% in the final […]
SYDNEY- Asian shares recuperated from previous underperformance and managed to go back on track for three-week high as investor sentiment increased on Chinese efforts to minimize the impact of coronavirus contagion. However, Japanese stocks sunk down on risks brought by recession. Trading activity will ease as U.S. stocks and bond markets will temporarily stop operating […]
TOKYO-The Japanese yen rose against the dollar on Friday as resurfacing concerns about the impact of the novel coronavirus aided safe-haven currencies’ performance. The yen held tight at 109.81 per dollar in Asian trading board on Friday, continuing its 0.25% gain from previous session. The euro continued to trade negatively hitting its multi-year of low […]
Taiwan’s Foxconn said on Thursday that the recent Reuters reports about the company resuming operations in production plants were not factual. The contract electronics manufacturer, currently supplying tech giant Apple Inc, made the comment in a statement to the Taipei stock exchange. However, Foxconn, formally called Hon Hai Precision Industry Co Ltd, did not elaborate […]
Facebook postponed the launching of its dating service in Europe which was scheduled for the eve of Valentine’s Day after Irish data regulator official searched its offices. According to the regulating body, the conducted inspection in offices of the social media company in Dublin was mandated after learning Facebook’s plan of launching the dating service […]
China will strengthen stimulus if economic slowdown continues amid virus spread, Changyong Rhee, senior official at International Monetary Fund said. But China should not disregard structural reforms to cater rapid credit growth, he added. Rhee, director of the IMF’s Asia and Pacific Department, said that China’s economic growth was slowing down before the epidemic due […]
SoftBank shares surge up to 14% after U.S. judge approves merger between T-Mobile and Sprint Shares of SoftBank Group Corp. in Japan shot up by 14% on Wednesday after a U.S. judge green-lit a $26 billion merger between T-Mobile and Sprint—a deal SoftBank sought for nearly a decade. “All necessary federal approvals required for the […]
SEOUL- Oil prices advanced continuing its Tuesday’s well-ended performance on Wednesday. Such upbeat activity was mainly from signals that coronavirus cases are decelerating in China, relieving investors from demand concerns brought by the virus which originated from world’s second-largest oil importer. Brent crude LCOc1 increased by 73 cents, equivalent to 1.3%, standing at $54.75 a […]
Safe-haven assets rise amid coronavirus concerns Gold prices rose while the USD/EUR currency pair reached a four month high on Monday as investors retreated to safe-haven assets amid China’s rising death toll from the coronavirus outbreak. Weak economic data in the Eurozone made the Greenback relatively more attractive to traders than the single currency. This […]
Uber Technologies Inc (UBER. N) adjusted its target with an aim of achieving its profitability by the end of the year, but the ride hailing firm anticipates a major decline estimating up to $1 billion or more this 2020. Uber shares advanced greatly up to 5% in after-hours session. Such activity followed after Chief Executive […]
EA’s tepid 4Q forecast adjusts below analysts’ expectations Electronic Arts Inc. adjusted its forecast for fourth-quarter revenue below analysts’ estimates after being pressured by the delayed launch of its anticipated title “NBA Live”. EA delayed the release of “NBA Live” last quarter in order to coincide with the launch of new gaming consoles from Microsoft […]
Asian shares regained momentum on Friday as investor sentiment was uplifted by optimism that China would contain the novel Coronavirus, even reports continued to file more cases and death rates. China’s manufacturing activity which surpassed analysts’ expectations heavily contributed to upbeat market sentiment while services strongly stabilized. In line with this, Amazon reached far beyond […]
Australian inflation rose at the end of 2019 but remains below target despite three interest rate cuts, prompting central bank to think of new measures to revive consumer prices. The consumer price index climbed 0.7% in the fourth quarter, which was slightly higher than the 0.6% increase forecast, attributed to higher fuel prices, cigarettes, travel, […]
Asian stocks hold steady despite investor fears over China virus Asian shares held steady on Friday as trade slugged toward the Lunar New Year despite growing concerns over the new virus in China. Investors had feared that the coronavirus could spread further as millions travel for the week-long holiday. MSCI’s broadest index of Asia-Pacific shares […]
Global economic uncertainties and a sales tax hike in 2019 may have hit hard on capital spending and inflation expectations, warned Bank of Japan policymakers as reflected on the central bank’s minutes of the meeting in December. One member proposed to impose a stimulant based on the effect tax hike caused on private consumption. The […]
Tesla Inc became the first publicly listed US carmaker to reach $100 billion worth in stock market valuation in extended hours trading on Tuesday. This came a month after the electric car maker’s stock reached $420, on which CEO Elon Musk said he would take Tesla private. In a tweet in August 2018, Musk said […]
SINGAPORE- Oil prices inched down on Tuesday as investors paid little attention to previous supply concerns following Libya’s declaration of a force majeure on two oilfields. Brent LCOc1 was down 30 cents, equivalent to 0.5% at $64.90 per barrel by 0318 GMT. The crude eased down after soaring to its highest in more than […]
IEA warns oil and gas companies about lax emission policies The International Energy Agency (IEA) on Monday cautioned oil and gas companies that failing to increase investments in low carbon energies may result in them facing backlash that could threaten long-term profits and public support. Around 15% of global energy-related emissions have come from the […]
BEIJING- China assured to stabilize the industrial growth and aid its progress for 2020 despite pressing concerns encountered by the sector, Minister of Industry and Information Technology Miao Wei said on Monday. China’s industrial production surpassed expectations last December by jumping up to 6.9% from a year earlier. Such was the most rapid pacing it […]
SINGAPORE- US Greenback started a strong weekly session on Monday brought heavily by positive US economic data, minimizing the possibility of interest rate cuts. The US dollar remained firm enough to reach its one week high against the euro EUR= at $1.1096. Its previous session placed it neutral from its eight-month high against Japanese yen, […]
China released its fourth quarter GDP for 2019, showing an economic growth of 6% compared to last year. Official data showed that the Chinese economy maintained last quarter’s pace as expected by analysts. GDP was estimated to grow by 6% in the October-December quarter, stalling at the shortest pace in twenty-nine years. As China faced […]
Gold prices rise amid brewing skepticism over U.S.-China’s Phase 1 trade deal Gold prices rose on Friday amid skepticism about the trade deal between the U.S. and China. Beijing and Washington had signed a Phase 1 deal on Wednesday, though some doubted whether the two major economies could develop it relations consistently. Gold Futures for […]
Oil prices fall as stockpiles drop past analyst expectations Oil prices fell on Friday morning as stockpiles took a sharper decline than analysts expected. This was confirmed by a report by the U.S. Energy Information Administration (EIA). The EIA said that crude inventories had declined by 2.5 million barrels compared to the expected drop of […]
The United States will fund Guatemala’s private sector with $1 billion to stimulate investment and create jobs, said US government agency head. It was announced after Alejandro Giammattei, the new president of Central American country, met with US officials to discuss spurring economic growth through investment and to contain migration in the US. “It’s a […]
BEIJING- Chinese financial institutions are very much stable, enough to compete against foreign competition as the $40 trillion worth of financial sector was discharged, the central bank said on Thursday. Such followed after China and the United States settled the initial pact of the trade deal. Central bank will heighten its regulation and supervision to […]
Dollar sturdies ahead signing of U.S.-China trade deal The U.S. Dollar remained strong on Friday and was set to close on a high note a few days ahead of the signing of a ‘phase one’ trade deal between the United States and China. The US Dollar Index Futures was flat at 97.45 by 9:30 PM […]
NEW YORK- Oil prices declined an estimated 1% gain on Tuesday, losing some recent earnings as the possibility of immediate supply disturbance after US military forces killed top Iranian commander dampened investors’ sentiments. Brent crude LCOc1 sunk down 64 cents, equivalent to 0.93% or $68.27 per barrel. US West Texas Intermediate (WTI) crude CLc1 declined […]
Of late, the pair EUR/USD trades below 1.12. This is amid inflation within the Eurozone that had met expectations with 1.3% in headline and core CPI. Tensions in the Mid-East have been found to not have strong effect on markets. The US ISM Non-Manufacturing PMI is currently being eyed. As the Euro and the Dollar […]
Turkish electric car project seen at an investment of $3.7 billion Turkey’s new domestic electric car project will have a fixed investment of 22 billion Lira ($3.7 billion) over a period of 13 years, with an annual production capacity of 175,000 vehicles according to the Official Gazette on Friday. The Official Gazette reported on a […]
China turns to financial experts to manage and rebuild economy China’s government has embarked on a new strategy of placing financial experts in provinces to manage risks and rebuild regional economies as the country struggles to deal with its slowdown. Since 2018, President Xi Jinping has placed 12 former executives either in state-run financial institutions […]
The U.S. online retail sales amassed record-breaking figures, outperforming last year’s output as Mastercard Inc. reported on Wednesday. E-commerce sales this year comprised 14.6% of total retail figures and went up 18.8% from the same period in 2018. Mastercard data showed retail sales from Nov. 1 to December 24. The overall holiday retail sales surged […]
Gold prices rise with demand ahead of Christmas and New Year Gold prices rose Monday morning in Asia as investors opted for the saf-haven asset ahead of Christmas and New Year holidays. U.S. Gold Futures inched up 0.25% to $1,484.55 by 10:59 PM ET (3:59 AM GMT), recovering after the dollar steadied the day before. […]
SINGAPORE-Oil prices edged closer to achieving its third consecutive months of positively ended performance on Thursday, maintaining its momentum which started a week ago. Such followed after records disclosed that US crude inventories plummeted down while output reduction by major producers held supply steady. Brent crude futures swiped out 1 cent to $66.16 per barrel […]
The Bank of England is looking to pause from making rates decisions as it weighs up Brexit’s outlook on Thursday. Flashes of hopes rose after the recently concluded election favoring a graceful Brexit but Prime Minister Boris Johnson seems to dim the bright outlook as he revives fears of a disorderly exit from the European […]
Fiat Chrysler and Peugeot owner PSA have agreed on a binding merger in a deal worth $50 billion to pave the way for the world’s fourth largest car maker. The two companies announced the merger that will reshape the global industry six weeks ago, as car manufacturers worldwide struggle with a decrease in demand. Car […]
The EU will have to limit discussions about its future relationship with Britain to avoid heading into another cliff-edge, a senior EU official said. This statement came after Britain affirmed its exit from the European Union before 2020 ends. After UK Prime Minister Boris Johnson’s big election win, he planned to work on declaring the […]
WeWork arranges $1.75 billion credit line with Goldman Sachs The shared workplace company WeWork said on Tuesday that it has arranged a $1.75 billion letter of credit with Goldman Sachs that is in the process of being syndicated and whose funds will be available in January next year. The move comes in part of SoftBank […]
Japan’s exports slips amid declining U.S., China demand Japan’s export shrank for its 12th month as shipments to the United States and China declined, severely impacting the country’s trade-reliant economy and raising the risk of a fourth-quarter contraction. Wednesday’s official data showed Japanese exports falling 7.9% year-on-year in November, which was a small decline compared […]
The Sacklers transfer Purdue Pharma’s $10 billion to its other companies The owners of Purdue Pharma, the Sackler family, transferred more than $10 billion in a decade from the OxyContin maker to its trust and holding companies, according to a New York Times report on Monday, citing the drugmaker’s newly-commissioned audit. The audit is likely […]
UK’s The Hut Group acquires €1 billion to fund expansion British online retailer, The Hut Group (THG) said it had raised €1 billion ($1.10 billion) to help fund expansion amid macro-economic and political changes from Brexit and the general election. The new capital of a €600 million term loan, a five-year £150 million ($192.45 million) […]
Lower demand and extended output decline dragged Japan’s factory activity shrink to eight consecutive months in December. Fourth-quarter economic contraction looms around Japan’s economic zone. From a 48.9 marker in November, the Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dipped to 48.8 (seasonally adjusted). This marks another below the 50.0 threshold level performance, […]
TOKYO-Oil clocked in gains on Thursday with market sentiment relieving from anxiety as OPEC changes its 2020 forecast mainly from records disclosing increase in US crude inventories. Brent futures LCOc1 climbed 24 cents, equivalent to 0.4% to $63.96 per barrel at exactly 0242 GMT. Such activity followed after 1% loss on Wednesday brought by […]
Australia’s Central Bank sees China slowing down to 3% by 2030 The Reserve Bank of Australia (RBA) reasoned how China’s economic growth could slow down to around 3% by 2030 as a result of low birth rates, corporate debt, and low productivity. “China’s period of ‘above-normal’ growth is drawing to a close,” the RBA’s Ivan […]
More developing countries will be hit by debt woes next year, cutting returns for the JPMorgan index of dollar sovereign bonds, according to the bank’s head of emerging markets research. Countries affected by debt crises in 2019 include Lebanon, Argentina, and Venezuela. However, their relatively small part in global bond indexes has meant little contagion […]
According to top 10 analysts, Tories are likely to win the elections. While this is the case, a hung Parliament might still be in the cards due to Conservatives not favored in some parts of the Westminster. Worth noting here are rising allegations related to UK Prime Minister (PM) Boris Johnson that came with his […]
China to remove duties from U.S. pork and soybeans China will remove duties from some U.S. exports like pork and soybeans, according to China’s finance ministry on Friday after it cited decisions made by the country’s cabinet. The tariff waivers were based on applications by individual firms for U.S. soybeans and pork imports, the ministry […]
The Philippine Statistics Authority (PSA) said around six million Filipinos rose from poverty as the government continues to beef up spending on social welfare. The statistics agency of the Philippines reported around 17.6 million Filipinos (or 16.6% of the country’s population) were poor in 2018. The figures were compared to that of the 2015 record […]
Huawei sues FCC in a fight for access to U.S. markets Huawei Technologies Co. has sued the Federal Communications Commission in a fight to overturn a regulatory decision that would pry Chinese corporations away from its last major American clients. China’s largest technology company said that it had filed the lawsuit with the Fifth Circuit […]
Chinese envoy to the United States said that the two parties were resolving issues on the phase one of the trade deal, but warned of other parties trying to meddle in the talks and come in between of the two countries without providing further details. Envoy to the United States Ambassador Cui Tiankai said that […]
The drop in US stocks on Monday urged one investor to fill up on stock options that would serve as a defense against a possible stronger hit on the US stocks next year. In early market on Monday, a large investor purchased 16,000 of January put options for the worth of $31 million dollars. The […]
BEIJING/SHANGHAI- China has high hopes that New Energy Vehicle (NEV) sales will scope up a quarter of all car sales in 2025 from a mark of “above 20%’ stated in a 2017 prospectus, the industry ministry said on Tuesday. Chinese market for new energy vehicle, that which offers plug-in hybrids, battery-only electric vehicles, and hydrogen […]
The Reserve Bank of Australia (RBA) had its interest rates untouched on Tuesday and said it was waiting for the past three implemented rate cuts to take effect in the sluggish economy. However, markets see the need for more rate cuts to drive more economic activities. The central bank of Australia just concluded its last […]
TOKYO-Japan’s Nikkei average sunk down on Tuesday as emerging trade worries surfaced after US President imposed tariffs on Brazil and Argentina, while unstable manufacturing records contributed to inactivity. The Nikkei share average plummeted down with 1.46% loss to 23, 186.84 as it marginally reduced decline to 23,278.67 by 0152 GMT, recording 1.07%. The index recuperated […]
SHANGHAI-Hong Kong’s benchmark index plunged down with 2% loss on Friday brought heavily by recent trade dispute headline about US legislation supporting Hong Kong protesters. Hang Seng index shed 2% at 26,363.78 points as Hong Kong Enterprises Index inched down with 2.4% loss to 10,309.46. Such inactivity was brought by tensions between the United […]
China Agri-Industries to go private for up to $1.2 billion China Agri-Industries Holdings Ltd’s parent company will be taken private in a deal worth around HK$9.17 billion according to a filing that was published on Thursday. According to the trading arm of the Chinese state-owned food group COFCO, the cancellation price was HK$4.25 which was […]
Bitcoin’s price on Monday dropped in the middle of its rally to recovery. It posted $6,558 at 1:00 a.m. EST, its lowest rate in six months. The biggest cryptocurrency, however, showed resiliency as it reached $7,100 hours after hitting a six-month low on Monday. Bitcoin last peaked on July 9 and since then, its prices […]
TOKYO-Japanese stocks extended its positive performance reaching its fourth consecutive high on Wednesday as optimism increased for the possibility of United States and China settling the ‘phase one’ of the trade pact. At exactly 0148 GMT, Nikkei index soared up with 0.38% gains at 23,462.22 with automakers and retailers leading the top gainer board in […]
U.S. securities regulator proposes new rules on use of derivatives in exchange traded funds The U.S. securities regulator on Monday proposed new regulations for the use of derivatives by investment funds. This aimed to introduce some safeguards for more risky products and increase competition. The proposal from the Securities and Exchange Commission (SEC), which is […]
The central bank of Taiwan and the Ministry of Economic Affairs have prepared specific actions to bid for bigger U.S. goods purchases to reduce its trade surplus. More so, Taiwan seeks to disprove U.S.’ claims being a currency manipulator. Taiwan was called out by the U.S. as a currency manipulator back in December 1992. This […]
Australian shares acquired gains on Monday as China-US trade deal optimism brought market enthusiasm while Westpac Banking Corp snapped four sessions of consecutive lows following the resignation of lender’s chief executive. The S&P/ASX 200 index inched up with 0.8 gains, equivalent to 52.50 points to 6,783.90 by 1243 GMT. Such hike followed after its 0.3% […]
HP Inc again reiterated that it would reject Xerox’s offer to buy the company for the value of $33.5 billion for cash and stock. In addition to this, HP Inc said the offer “significantly undervalues HP.” The computer manufacturer said that it rebuffed Xerox’s proposal but opened the bid for exploration. Xerox offered $22 per […]
Gold prices drop as the U.S. and China close in on trade deal Gold prices fell on Monday after speculation spread that Washington and Beijing would soon sign a partial trade deal. Gold Futures for December delivery inched down 0.2% to $1,466.25by 12:30 AM ET (04:30 GMT). The improved investor sentiment was claimed as headwind […]
Jumbo Interactive jumps 192% this year as online lottery tickets reach peak popularity Australian digital reseller Jumbo Interactive Ltd jumped up 192% this year as online purchases of online lottery tickets increased, Bloomberg said in a report on Friday. The company’s CEO Mike Veverka said in a phone interview that Jumbo aims to triple its […]
MOSCOW-Russia planned to cut the share of US dollar in its National Wealth Fund as it is currently eyeing on investing in other foreign currencies including Chinese Yuan, Russian Deputy Finance Minister Vladimir Kolychev said on Wednesday. The changes to the structure of the National Wealth Fund, which is part of Russia’s sovereign reserves, will […]
China’s e-commerce giant Alibaba Group is set to launch a Hong Kong share sale that is anticipated to raise $15 Billion as early as Thursday, according to the two sources knowledgeable of the discussions. As Alibaba executives prepare for the launch on Thursday, the sources said that the timing could get lost considering the developments […]
TOKYO- Japanese shares sunk lower on Wednesday after US President Donald Trump’s speech brought disappointment to investors as he disclosed very little information about the trade deal. In line with this, Hong Kong’s political unrest contributed to Nikkei’s underperformance as the city faced increased case of violence. The Nikkei shares plummeted with 0.85% to 23,319.87, […]
Hong Kong regulator fines UBS $51 million for overcharging clients Swiss Bank UBS was fined HK$400 million ($51.09 million) by Hong Kong’s securities regulator for overcharging around 5,000 clients for the past decade. The Hong Kong Securities and Futures Commission (SFC) said in a statement that an investigation revealed that UBS had been overcharging clients […]
“I’d like to make a deal, but it’s got to be the right deal.” This is what U.S. President Donald Trump said in light of the ongoing negotiations between his country and China to seal a trade deal and eventually end the trade disputes between the two powerhouse countries. “The trade talks with China are […]
Brexit: a chaotic European affair Economic losses abound the British territory due to Brexit’s delayed and un-welcomed stay. The U.K. Judiciary is about to be pushed “off-its-trolly” with its constant debate regarding the great divorce’s validity. The suspension of the House of Commons by PM Boris Johnson himself had already exceeded a month. And against […]
Britain’s Prime Minister Boris Johnson announced plans for issuing special visas to aid the U.K.’s National Health Service to hire doctors and nurses coming from different countries after Brexit. A new points-based immigration system will be formed by the National Health Service of Britain which will be introduced right after the U.K. departs from the […]
Shinzo Abe, Japan’s prime minister, ordered his cabinet to design a package of stimulus measures to beef up the economy and build infrastructure to cope with large natural disasters, according to a Japanese government spokesman. Chief Cabinet Secretary Yoshihide Suga said the package will include steps to promote investment for growth through the aggressive use […]
Washington and Beijing agree to retract existing tariffs Washington and Beijing had both agreed to retract existing tariffs on each sides’ goods on Friday. Gao Feng, spokesperson for China’s Commerce Ministry said that “both sides should undo existing additional tariffs in the same proportion to reach phase one deal, and that is an important condition […]
The Bank of England signals to keep interest rates steady on Thursday as the snap election on Dec. 12 draws near. Governor Mark Carney though is not giving an explicit answer as to where interest rates are going in the next couple of weeks. “It’s all about nuance and emphasis,” Philip Shaw, Investec economist said. […]
Social media app TikTok reiterated its independence from China as stressed on its letter sent to the U.S. lawmakers but failed to convince Senator Josh Hawley who spearheaded the hearing session on Tuesday on the security of U.S. citizens’ personal data. ByteDance Ltd, which runs TikTok is a Chinese-based company that sent a letter to […]
Gold prices recover after a 2% fall as economic reports ease fears Gold prices recovered on Wednesday after a 2% fall in the previous sessions as traders embraced risk after the latest news in trade. U.S. Gold Futures went up 0.2% to $1.486.95 by 12:30 AM ET (04:30 GMT). Various news outlets reported within the […]
The “Phase One” of the U.S.-China trade deal has it that the Chinese government is pushing U.S. President Donald Trump to erase imposed tariffs in September. One of the highlights of the trade deal that will be signed by Chinese President Xi Jinping and Donald Trump is the inclusion of the White House’s abolishing tariffs […]
Japan’s Rakuten expects a $947 million loss in U.S. Lyft investment in latest quarter Japan’s Rakuten Inc. said on Tuesday that it would be expecting to take a 103 billion yen ($947 million) in losses in the latest quarter over its investment in U.S. ride-hailing firm, Lyft Inc. As of date, Rakuten is the biggest […]
European shares strongly began its weekly session on Monday as gains from automakers and miners fueled the upsurge while US-China trade talks brought optimism. The Pan-European STOXX 600 index soared at 0.5% reaching its highest index tally since January 2018. The United States and China disclosed that they made laudable progress primarily focusing on ending […]
Washington retracts duties from various Indonesian products The United States has removed tariffs from various Indonesian products under a privileged trade facility. This is a part of the ongoing trade negotiations between the two countries, Indonesian officials said. In a report from the Indonesian trade ministry, the office of the United States Trade Representative (USTR) […]
Sino-U.S. Trade Hopes rally Asian stocks Asian stocks rallied on Monday’s morning trade as China and the U.S. seemed close to agreeing on a “phase one” trade deal. The Office of the U.S. Trade Representative (USTR) said on the weekend that Beijing and Washington were close to signing a partial trade deal. “They made headway […]
European shares dip as Brexit talks continue European shares dipped on Wednesday as uncertainty over the outcome of London’s last-ditch Brexit talks with Brussels kept investors on the sidelines. Brexit negotiations will resume in Brussels on Wednesday morning after “constructive” discussions went into the night on Tuesday, a British spokesman said. Britain’s domestically-focused midcaps slipped […]
No-Deal Brexit could cost Ireland 73,000 jobs; central bank says A no-deal Brexit could cost Ireland more than 73,000 jobs over the next two years, the nation’s central bank said. According to the bank’s speculations, if the U.K. were to leave the European Union without an agreement, Ireland’s unemployment rate would rise to 5.8% in […]
Exxon Mobil to sell Malaysian offshore assets worth $3 billion; Bloomberg reports U.S. energy giant Exxon Mobil is considering a sale of its Malaysian offshore assets for up to $3 billion, Bloomberg reported on Wednesday. Exxon is said to be working with advisers on the potential sale which could raise about $2 billion to $3 […]
China-made smartphone now worth $4 Billion Chinese smartphone maker Transsion has raised nearly $400 million in an IPO on China’s new, tech-focused stock market. On Wednesday the Shenzhen-based company said in a stock market filing that it sold 80 million in shares for 35.15 Yuan ($4.93) each, raising 2.81 billion Yuan ($395 million) The share […]
Monzo closes premium accounts to new customers Monzo, the digital bank, has closed its fee-charging premium subscription to new customers after five months of launch and is also offering refunds to those who signed up. Following criticism by customers, the app-based bank said that its Monzo Plus service wasn’t “the best it could be” and […]
Top investors warn markets might face risks over lax climate forecast Financial markets risk major disruptions by relying on forecasts that underestimate the impact of climate-change policies that are expected to abruptly tighten the next decade, a leading group of investors had warned. The report made by the U.N.-backed Principles of Responsible Investing (PRI), representing […]
U.S., Chinese trade talks commence in Washington despite differences U.S. and Chinese trade deputies were set to resume face-to-face trade talks on Thursday after the two of the world’s largest economies attempted to bridge deep policy differences and find a way out of a bitter and already-prolonged trade war. The negotiations scheduled for Thursday and […]
Cash spending overtaken by credit cards for the first time Credit card spending has taken over cash for the first time, according to data from UK retailers, demoting notes and coins to the third most popular method of payment. The figures come from the British Retail Consortium (BRC) – whose members are responsible for £180bn […]
U.S.-China Trade Talks to commence on Thursday Deputy-level U.S.-China Trade Talks are scheduled to commence in Washington on Thursday, U.S. Trade Representative’s (UTSR) office said, paving the way for high-level talks in October aimed to resolve a bitter, 14-month trade war. However, a UTSR spokesman had not offered any more details about the deputy-level talks. […]
France to block Facebook’s Libra in EuropeFrance has said that it will block the development of Facebook’s cryptocurrency, the Libra in Europe, dealing a fresh blow to the cryptotrade industry. The French finance minister, Bruno Le Maire said that plans for Libra could not move ahead until concerns over consumer risk and the governments’ monetary […]
UK businesses unprepared for a no-deal Brexit; BCC warns The British Chambers of Commerce (BCC) warned that a “concerningly high number” of UK businesses were unprepared for a no-deal Brexit after a research showed that more than two-fifths of British companies had not conducted a Brexit risk assessment. Parliament moved closer to obstructing a no-deal […]
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