Роман Евдокимов

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Roman is a specialist with comprehensive knowledge of economic disciplines and the theory of market mechanisms. He has worked with various indicators and factors affecting traders’ profit.

Roman conducts a detailed analysis of objects to invest in them.

Asian shares place below highs; U.S. oil futures plunge deeper
27.11.2020

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 […]

Dollar stabilizes but likely to decline over the long term
26.11.2020

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 […]

Brexit trade deal absence would cut 2% off UK’s output: BOR
26.11.2020

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 currencies soar as Trump steps down from office; Yellen tops Biden’s options
24.11.2020

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’s increase provides tighter traction for S&P 500
20.11.2020

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 […]

Dollar falls as virus fears ease expectations
19.11.2020

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 […]

Dollar falls on worries about second coronavirus wave, Biden transition
17.11.2020

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’s quarterly revenue drops below expectations, shares rise
13.11.2020

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 […]

Japan’s machinery orders plunge; project murky view for capital spending
12.11.2020

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 […]

Nasdaq declines on weak technology stocks
11.11.2020

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 […]

Pony.ai gains $267 Million in latest fundraising to boost its popularity
06.11.2020

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 […]

Technology stocks and healthcare sector rise due to divided US government
05.11.2020

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 […]

AstraZeneca to release a new pipeline of other medicines for the awaited coronavirus vaccine
05.11.2020

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 […]

U.S. stock futures recover after Trump effectively declared victory while the election is still ongoing
05.11.2020

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 […]

Subaru posts its profit outlook worth $1.05 billion
04.11.2020

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 […]

Inspire Brands officially announce its acquisition deal with Dunkin Brands
03.11.2020

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 […]

Lenovo beats quarterly revenue expectations
03.11.2020

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 […]

Fiat Chrysler needs to pay $840 Million due to U.S. regulatory costs
03.11.2020

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 […]

Dollar steadies, euro nears four-week low after ECB’s announcement
30.10.2020

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 […]

Exxon and JERA to make LNG power stations in Vietnam
28.10.2020

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 […]

U.S. EPA allows Bayer to sell its Dicamba-based weed killer until 2025
28.10.2020

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 […]

Rolls-Royce asks its shareholders for a rescue deal worth $2.6 billion to survive the coronavirus outbreak
27.10.2020

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 […]

U.S. ITC postpones decision on SK Innovation’s secret trade theft case
27.10.2020

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 […]

Dollar climbs against risk currencies on coronavirus spike, fading U.S. stimulus hopes
26.10.2020

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 drops as spike in coronavirus case stirs demand worries
26.10.2020

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 […]

Dunkin Brands to potentially acquire Inspire Brands
26.10.2020

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’ […]

Eurozone economic activity contracts amid COVID-19 resurgence
23.10.2020

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 slip as COVID-19 resurgence deteriorates fuel demand
22.10.2020

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. […]

Amazon to invest $100 Million in new warehouses located in Mexico
22.10.2020

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 stocks fall despite strong earnings report from Nestle, Ericsson
21.10.2020

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. […]

Dollar hits one-month low on U.S. stimulus hopes, yuan rises
21.10.2020

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 […]

Tesla to hit its vehicle production goal this year
21.10.2020

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 […]

Snap shares soar on higher-than-expected revenue, subscription
21.10.2020

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 shares, yuan advance on stimulus-driven optimism
21.10.2020

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 […]

Dollar struggles as U.S. stimulus deadline draws near
20.10.2020

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 falls for fourth day on rising fears over second coronavirus wave
20.10.2020

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 […]

UBS’ third-quarter revenue increases due to its strong performance in the global markets
20.10.2020

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 […]

Cathay Pacific cuts 18% of its workforce amid the coronavirus pandemic
20.10.2020

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 […]

Dollar set for weekly gain on stalled economic recovery
16.10.2020

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 economy sees quarterly expansion as spending returns
16.10.2020

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. […]

United Airlines to cut costs amid the coronavirus outbreak
15.10.2020

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 shares mixed as stimulus hopes dwindle, virus concerns press
15.10.2020

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 falls by 2% as U.S. stimulus negotiations stall
14.10.2020

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 steadies amid U.S. Gulf, Libyan production reopening
13.10.2020

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 […]

China’s  imports, exports hike on global economic resumption
13.10.2020

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 shares buck Wall Street as China rally eases
13.10.2020

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 […]

Offshore energy firms evacuate as Hurricane Delta approaches
07.10.2020

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, […]

Norway oil strike escalation may threaten production in six fields
02.10.2020

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 falls as worsening pandemic threatens demand
02.10.2020

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. […]

World stocks fall as Donald Trump tests positive for COVID-19
02.10.2020

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 […]

Renewed U.S. stimulus prospects improves market sentiment
01.10.2020

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 shares advance on U.S. stimulus, strong figures
01.10.2020

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 falls as rising coronavirus cases cloud demand recovery
28.09.2020

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 stocks open higher; aided by positive Chinese data
28.09.2020

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 […]

Commonwealth Bank of Australia forecasts central bank to keep policy rates steady
25.09.2020

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 […]

Boohoo to review labor violations of its Leicester suppliers
25.09.2020

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 shares rebound on tech rally, stimulus optimism
25.09.2020

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 slide amid fading economic recovery hopes
24.09.2020

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 shares weaken on investors’ appetite for U.S. dollar
23.09.2020

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 […]

KKR & Co to invest $755 Million in Reliance Industries’ retail arm
23.09.2020

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 […]

Intel to obtain U.S. licenses to supply products for Huawei
22.09.2020

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 HK shares fall to lowest since 1995, StanChart drops on FinCEN leak
21.09.2020

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 […]

SoKor’s 20-day exports recover from months-long decline
21.09.2020

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 […]

Ericsson agrees to acquire Cradlepoint in a deal worth $1.1 Billion
18.09.2020

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 falter as Fed fails to maintain upbeat sentiment
17.09.2020

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 […]

Spotify stock falls after Apple released its new services bundle
17.09.2020

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 stocks mixed ahead of central bank meetings
15.09.2020

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 boosts risk and control investment after operational error worth $900 Million
15.09.2020

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. […]

China’s gaming company Tencent opens a Southeast Asia regional hub in Singapore
15.09.2020

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 shares advance on upbeat data, investors await Fed
15.09.2020

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 on track to open higher on COVID-19 vaccine hopes
14.09.2020

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 […]

Citigroup’s Jane Fraser to be the first woman CEO of Wall Street bank
11.09.2020

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 slides as rise in stockpiles hint at bumpy demand recovery
10.09.2020

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%, […]

Dollar holds overnight gains as traders focus on ECB
08.09.2020

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 mixed on demand concerns following U.S. holiday
08.09.2020

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 […]

Asian shares drop on tech-driven plunge
04.09.2020

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. […]

Dollar holds overnight gains as traders trim bets, yuan rises on upbeat data
03.09.2020

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 […]

K-Pop boy band BTS to become multimillionaire shareholders with Big Hit’s IPO
03.09.2020

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 […]

Asian factories emerge from pandemic drag, China leads
01.09.2020

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 […]

Dollar falls on Fed rate outlook, Aussie looks to RBA meeting
01.09.2020

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 rises on stimulus support despite large supplies
31.08.2020

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 […]

Japan’s factory output jumps, retail sales plunge on pandemic hit
31.08.2020

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 […]

Dollar falls as investors expect policy shift in Fed speech
27.08.2020

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 steadies as U.S. Gulf braces for Hurricane Laura
27.08.2020

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 […]

Stimulus hopes lifts European stocks slightly
26.08.2020

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 […]

S&P 500, Nasdaq reach historic highs on trade, vaccine hopes
26.08.2020

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 […]

Lyft to halt its ride services in California starting at midnight
21.08.2020

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 […]

JPMorgan to launch its online British retail bank in 2021
21.08.2020

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 consumer prices stagnant as deflation hovers
21.08.2020

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 […]

British economic recovery not possible until after two years
20.08.2020

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 falls as demand worries dwarf U.S. stocks draw
19.08.2020

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 […]

S&P 500 hits record high, wiping out losses from early 2020
19.08.2020

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 beats second-quarter sales estimates amid the coronavirus pandemic
18.08.2020

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 […]

Dollar nears two-year low as investors push euro to record high
18.08.2020

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 […]

Asian shares seen gloomy after Wall Street’s tech-driven gains
18.08.2020

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 to record five-month streak of gains
18.08.2020

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 […]

Stock futures signal modest Wall Street gains ahead of retail earnings week
17.08.2020

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, […]

Domino’s Pizza to hire 20,000 workers in the United States
17.08.2020

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. […]

Unemployment claims fall to 963,000 from last week
14.08.2020

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 […]

S&P 500 closes just below all-time high as tech stocks lead the rally
13.08.2020

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 […]

Dollar slides as traders doubt the passage of U.S. coronavirus aid
13.08.2020

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 […]

Dollar maintains one-week high following weeks of losses
11.08.2020

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 […]

S&P 500 futures reach an all-time high on stimulus bets
11.08.2020

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 faces difficulties amid the coronavirus pandemic
10.08.2020

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 […]

Another coronavirus fiscal aid ‘incredibly important’, says Fed’s Evans
10.08.2020

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 dip on worries over U.S. recovery and stimulus talks
07.08.2020

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 down as U.S.-China tensions simmer
07.08.2020

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 […]

Dollar falls further ahead of non-farm payrolls data
07.08.2020

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 […]

Philippine economy records historic recession
06.08.2020

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 […]

Indonesian GDP sees record contraction since 1999 for second quarter
05.08.2020

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% […]

US FAA announces its final plan for Boeing’s 737 MAX return
04.08.2020

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 […]

Bank of England to keep policy on hold due to gloomy economic forecast
31.07.2020

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 stocks dwindle as global growth fears overshadow strong tech earnings
31.07.2020

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 […]

Caterpillar reports its second-quarter earnings
31.07.2020

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 […]

U.S. lawmakers accuse Big Tech executives of alleged abuse of market power
30.07.2020

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 jump, dollar plunges on Fed’s policy
30.07.2020

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’s Chief Engineer decides to leave the company on August 3
28.07.2020

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 […]

Germany to implement tough audit regulations after the Wirecard scandal
27.07.2020

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 rises, but gains capped by demand, U.S.-China tensions
24.07.2020

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 climbs, but gains capped by weak demand
23.07.2020

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 […]

Tesla to join the S&P 500 Index while CEO Elon Musk pushes for growth
23.07.2020

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 […]

Dollar under pressure; Euro, Sterling strengthen on summit agreement
21.07.2020

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 shares advance higher on stimulus, vaccine optimism
21.07.2020

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 shares fall as India’s drug regulator sends notice on overpricing and false claims
20.07.2020

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 […]

Singapore exports surpass estimates, advance 16.1% in June
17.07.2020

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 […]

Bank of Japan survey sees record demand for corporate loans amid worsening COVID-19 situation
17.07.2020

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 […]

Federal Reserve warns a ‘thick fog of uncertainty’ as the coronavirus pandemic surrounds battered economy
15.07.2020

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 […]

Euro hits four-month peak on dollar over EU stimulus hopes
15.07.2020

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 gains on U.S. crude stocks decline, focus on OPEC+ meeting
15.07.2020

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 announces readiness of blockchain-based payments
13.07.2020

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. […]

Japan’s wholesale price drop eases in June, outlook dims on frail demand
10.07.2020

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 […]

Electric car company Tesla plans to join the S&P 500
10.07.2020

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 prices fall as it holds ground for eight-year high
09.07.2020

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 prices retreat amid rising global COVID-19 cases
08.07.2020

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. pandemic aid program saves 51 Million jobs according to Trump administration
08.07.2020

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 […]

European Commission forecasts deeper recession for 2020
07.07.2020

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 […]

Dollar firms as investors weigh risks
07.07.2020

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. […]

Warren Buffett’s Berkshire buys Dominion Energy’s natural gas assets for $4 billion
06.07.2020

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 reach four-month high on recovering U.S, China economies
03.07.2020

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 […]

Aussie retail sales advance in May as economy resumes
03.07.2020

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 […]

U.S. employment surge expected in June, masks fragile labor market
02.07.2020

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 shares mixed as gloomy data casts doubt on recovery hopes
01.07.2020

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 gains after U.S. crude stocks plunge
01.07.2020

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 […]

Japan factory output drops as economy falls deeper in recession
30.06.2020

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 monitors 0.36% GDP contraction due to COVID-19 crisis
29.06.2020

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 slip as gloomy outlook dampens market sentiment
29.06.2020

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 […]

Stocks and oil gain despite rising coronavirus cases
26.06.2020

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%, […]

Oil prices climb in light of demand recovery optimism despite coronavirus fears
26.06.2020

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 […]

Deal reached by Lufthansa and cabin crew unions
25.06.2020

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 grants $7.1 billion loan to Fiat Chrysler
25.06.2020

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 […]

BOJ offers $78 billion in loan to virus-hit firms in first phase of lending program
24.06.2020

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 soar amid surge in COVID-19 cases
24.06.2020

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 falls as U.S. inventories exceed forecast
24.06.2020

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 hit four-month high on persistent market optimism
24.06.2020

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 advances on recovery hopes, Nasdaq reaches new record
24.06.2020

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 hold steady on signs of demand recovery
23.06.2020

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 […]

UK car sector requests for more government help to cushion pandemic blow
23.06.2020

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 […]

Japan factory activity at 11-year low as pandemic presses
23.06.2020

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 slips as concerns of demand recovery outweigh record cuts
22.06.2020

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 […]

Uniqlo’s fast-drying masks debut in Japan, long queue formed
19.06.2020

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 sees easing economic damage, raises outlook
19.06.2020

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 deflation advances on weak consumer prices
19.06.2020

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 falls on demand worries amid surge in coronavirus cases
18.06.2020

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. […]

Dollar and yen rise on risk-off mood due to virus and economic worries
18.06.2020

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 […]

Gold climbs as the Dollar weakens with the Feds expanding Bond Buying Program
16.06.2020

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 […]

Dollar falls, risk currencies gain on Fed debt buying stimulus
16.06.2020

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 gain after Fed announces new bond-buying measures
16.06.2020

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, […]

Risk currencies drop on fears of second coronavirus wave
15.06.2020

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 […]

English property sales recover on lockdown easing: Rightmove
15.06.2020

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. […]

U.S. crude inventories record hit U.S. oil
11.06.2020

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 fall amid demand recovery concerns, U.S. stockpiles see record growth
11.06.2020

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. […]

Dollar bounces as traders await Fed policy meeting
10.06.2020

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 […]

Global airlines heading for $84 billion net loss in 2020: IATA
10.06.2020

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. […]

European stocks push lower; German economy manifests further weakness
09.06.2020

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 […]

Dunkin’ plans to hire up to 25,000 employees as U.S. restaurants reopened
09.06.2020

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 share loses gain streak as tech, healthcare stocks drop
08.06.2020

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 […]

Japan household spending drops historically on economic inactivity
05.06.2020

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 […]

Broadcom to report earnings and revenue expectations, suggests a delayed Apple iPhone launch this year
05.06.2020

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 prices fall as U.S.-China tensions mount
04.06.2020

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 […]

Warner Music Group launches the biggest IPO in the United States this year
04.06.2020

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 […]

Japan’s manufacturing sector suffers from virus-beaten demand: PMI
01.06.2020

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 will cut 30% of its workforce including management and support staff
28.05.2020

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 […]

Dollar slides as economic recovery hopes lift risk appetite
26.05.2020

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 first-quarter GDP growth runs slowest since 2012
26.05.2020

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 […]

Dollar bounces as U.S.-China tensions dampen mood
21.05.2020

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 […]

Canada Goose will cut 125 workers amid virus outbreak
21.05.2020

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 […]

SoKor’s May 1-20 exports drop, rate beats April figures
21.05.2020

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 mixed as Moderna vaccine results dampens risk sentiment
20.05.2020

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 […]

Euro firms on EU recovery fund, yen nears 5-week low
20.05.2020

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, […]

Australia’s Qantas Airways will resume domestic flights but without social distancing
19.05.2020

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 plans to permanently close its 242 stores amid bankruptcy
19.05.2020

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 […]

Prospects of economic re-opening foster rise in European shares; oil and gold on the rise
18.05.2020

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 stocks surge after China factory output rises
15.05.2020

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 […]

Dollar falls as U.S.-China trade tensions escalate
15.05.2020

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 mixed amid mixed outlook of China’s recovery
15.05.2020

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 to soar amid pandemic
14.05.2020

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 […]

Boeing records zero airliner orders in April
13.05.2020

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 loses gains amid mounting fears over second COVID-19 cases
13.05.2020

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 […]

UK Finance Ministry fears budget deficit to hit 337B pounds: Telegraph
13.05.2020

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 […]

Dollar hits two-week high amid safe-haven demand, second coronavirus wave
12.05.2020

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 gains as Saudi Arabia announces further output cut
12.05.2020

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 […]

Pfizer outsources drug production to focus on experimental coronavirus vaccine
11.05.2020

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 drops just above $1,700 mark amid fears of second COVID-19 wave
11.05.2020

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 […]

Pound rallies after BOE maintains size of bond-buying program
07.05.2020

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 decline amid U.S.-China dispute, oil drops
06.05.2020

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 gain on positive demand outlook
05.05.2020

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 […]

SoKor’s manufacturing sector suffers as demand declines the sharpest in April
04.05.2020

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 […]

SoftBank to lose $6.6 billion in WeWork, adding to portfolio woes
30.04.2020

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 […]

Germany gives state aid worth 9Bn Euros for Lufthansa
28.04.2020

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 […]

Muyuan Foodstuff Co shares up after $579 million 1Q profit
27.04.2020

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 […]

EU organizations can request loans up to 5% of turnover
27.04.2020

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 […]

Asian shares dove after failed COVID-19 drug and threats of economic damage
24.04.2020

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 recover due to production cut, tumultuous weeks ahead
24.04.2020

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 […]

Netflix seeks $1 billion loan to fund new shows
23.04.2020

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 […]

SIFMA asks SEC to intervene for U.S. brokers in CAT database conflict
23.04.2020

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 […]

COVID-19 drags down Asia’s services and factory sectors
23.04.2020

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 […]

JPMorgan Chase will bring employees back on-site amid virus outbreak
22.04.2020

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 to see recession as lockdown extends, Citigroup warns
22.04.2020

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 […]

Shake Shack returns $10 Million emergency loan to United States
21.04.2020

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 […]

UK launches £1.25-billion plans to aid struggling businesses amid virus crisis
20.04.2020

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 […]

Pandemic to suspend Asia’s 2020 growth: IMF
16.04.2020

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 […]

Dollar rises on new Fed lending program
15.04.2020

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 fall 2.1% in March
15.04.2020

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 gains as investors go on bargain-hunting, hopes for reserve purchases
15.04.2020

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 gain, China cuts interest rate
15.04.2020

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 […]

Dollar falls as Chinese trade data shows positive market mood
14.04.2020

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 gains as U.S. shale output set to decline
14.04.2020

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 rises as safe haven amid economic turbulence
14.04.2020

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’ first-quarter profit hits 3%, surpassing forecasts
07.04.2020

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 […]

Pound to recover losses against dollar but analyst estimates slashed
03.04.2020

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 […]

U.S. Treasury hires Wall Street bankers, lawyers for aid advice
02.04.2020

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 […]

Oil hikes after Trump says Saudi, Russia likely to resolve price war
02.04.2020

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 […]

Disney+ will launch on OSN in UAE today
02.04.2020

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 loses spot in S&P; Carrier Global takes over
01.04.2020

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 soar, China’s manufacturing sector recovers
31.03.2020

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 plummet by 5%, trade halts temporarily
30.03.2020

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 fall off 2-week highs amid equities recovery
27.03.2020

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 […]

Reserve Bank of India slashes interest rates in urgent bid to bolster virus-hit economy
27.03.2020

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% […]

RBA buys semi-government bonds as coronavirus crushes state revenues
25.03.2020

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 income drops as digital growth covers China sales decline on virus impact
25.03.2020

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 recover from record losses as support rallies in favor of domestic market
24.03.2020

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 […]

Dollar advances as virus crisis prompts investors to seek cash
23.03.2020

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. […]

Fed officials ensures additional action as virus outbreak dampens economic outlook
23.03.2020

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 […]

NYSE transitions to e-trading after two confirmed coronavirus cases
19.03.2020

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 […]

Airlines’ cash drawers emptied, virus causes $157 billion loss from share values
18.03.2020

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 slip as virus outbreak dwarfs fiscal stimulus
18.03.2020

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 […]

Dollar holds gains overnight against most major currencies
18.03.2020

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 says growing demand may increase chip market sales
18.03.2020

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 take back ground as U.S. stocks rebound sharply
18.03.2020

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 […]

UK to rally business support as coronavirus spreads further
17.03.2020

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 prices climb $1 as steep declines attract bargain buyers
17.03.2020

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 […]

Bank of Japan takes additional steps to stabilize market in an emergency meeting on Monday
16.03.2020

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 […]

Wife of Canada’s Prime Minister Justin Trudeau tests positive for coronavirus
13.03.2020

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 gains for second day as investors turn to US producers’ output cut
11.03.2020

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 […]

Asia Pacific stocks strive for market power, Dow futures moves up 500 points
10.03.2020

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  scrutinizes markets for “very unstable” moves, exposes cost of ETF buying
10.03.2020

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 turn steady as markets rely on global policy stimulus
10.03.2020

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 […]

Dollar recovers as oil and virus threats lurk
10.03.2020

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 […]

Global shares suffer in COVID-19 panic, oil underperforms
09.03.2020

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 […]

ADB says coronavirus could cut global growth by 0.1% to 0.4%
06.03.2020

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 […]

Australian economy recuperates but outlook remains dim
04.03.2020

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 predicts first-quarter revenue will beat analyst forecasts
27.02.2020

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 […]

Dollar slides, loses safe haven status
26.02.2020

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 […]

S&P 500 drops to its lowest since 2018 over coronavirus fears
25.02.2020

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 […]

Asian shares seek for momentum as S&P futures recover
25.02.2020

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
24.02.2020

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 […]

Teck withdraws C$20.6 billion application for oil sands Frontier project
24.02.2020

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 […]

Oil sinks on pressing demand problems as nCoV spreads on global scale
24.02.2020

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 extends help to firms hit by coronavirus spread, offers $2.86 billion in loans
18.02.2020

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 falls in fourth quarter, recession risks grow
17.02.2020

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 […]

Asian shares inch up to three-week highs on China’s support measures
17.02.2020

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 […]

Yen gains on nCoV concerns, frail economic outlook drags euro
14.02.2020

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 […]

Foxconn: recent Reuters report on factory resumption in China, not factual
13.02.2020

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 defers launch of dating service in Europe as Irish officials hold search operation in offices
13.02.2020

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 can fortify stimulus if growth slows further amid virus spread, IMF says
12.02.2020

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
12.02.2020

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 […]

Oil inches up as NcoV cases decelerate, boosts market sentiment
12.02.2020

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
11.02.2020

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 expects gains at latter part of 2020 but braces for year of decline
07.02.2020

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
31.01.2020

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 recover after suffering for a week
31.01.2020

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 […]

Australia inflation climbs but remains below target
29.01.2020

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
24.01.2020

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 […]

Japan economic outlook gloomy, central bank policymakers say
24.01.2020

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 reaches $100 billion stock market valuation
22.01.2020

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 […]

Oil prices retreat as concerns on supply diminish
21.01.2020

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
20.01.2020

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 […]

China to secure industrial growth in 2020
20.01.2020

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 […]

Dollar soars on high market sentiment over US economic forecast
20.01.2020

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 GDP grows 6% in fourth-quarter, in line with analyst estimates
17.01.2020

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
17.01.2020

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
17.01.2020

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 […]

US agency to fund $1 billion into Guatemala’s private sector
16.01.2020

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 […]

China’s financial firms can subsist against foreign rivals: central bank
16.01.2020

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
10.01.2020

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 […]

Oil sheds 1% from investors’ Middle East sentiments
08.01.2020

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 […]

EUR/USD under 1.12 amidst EZ inflation; Suleimani’s death causes tension
07.01.2020

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
27.12.2019

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
27.12.2019

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 […]

U.S. holiday online sales set record, 3.4% bigger than last year’s record
27.12.2019

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
23.12.2019

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. […]

Oil prices head to three-month peak after US crude inventories drop
19.12.2019

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 […]

Bank of England to stay on hold as it weighs Brexit outlook
19.12.2019

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 to merge with Peugeot owner PSA agree in $50 billion deal
18.12.2019

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 […]

EU must avoid cliff-edge in talks with Britain, says senior EU official
18.12.2019

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
18.12.2019

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
18.12.2019

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
17.12.2019

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
16.12.2019

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) […]

Factory Activity of Japan drops eight consecutive months in December
16.12.2019

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, […]

Oil prices hike as OPEC changes 2020 forecast
12.12.2019

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
12.12.2019

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 […]

JPMorgan warns emerging market debt trading to increase in 2020
10.12.2019

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 […]

Tories likely to win despite hung parliament chances; U.S.-China conflict anew
09.12.2019

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
06.12.2019

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 […]

Philippines claims to have alleviated poverty from 6 million Filipinos
06.12.2019

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. market
05.12.2019

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 […]

‘Destructive forces’ are trying to sabotage US-China ties, Beijing envoy warns
05.12.2019

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 […]

Large investor pays $31 million for options hedge against US stock market drop
03.12.2019

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 […]

China seeks NEV sales to hit 25% of all car sales in 2025
03.12.2019

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 […]

Reserve Bank of Australia keeps rates steady, waits for past cuts to take effect
03.12.2019

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 […]

NIKKEI DROPS ON RECENT TRADE WORRIES, FRAIL US DATA
03.12.2019

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 […]

CHINA, HK STOCKS SUFFER AS SINO-US TENSION BRINGS MARKET ANXIETY
29.11.2019

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
28.11.2019

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 slows down, posts six-month low
27.11.2019

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 […]

Japanese stocks maintain momentum on trade optimism; fiscal stimulus
27.11.2019

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
26.11.2019

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 […]

Taiwan plans to buy more US goods, acts to bust currency manipulator claims
26.11.2019

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 STOCKS HIKE UP FROM WESTPAC, OIL PRICES; NZ SOARS
26.11.2019

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 rejects Xerox takeover bid again
25.11.2019

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
18.11.2019

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
15.11.2019

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 […]

RUSSIA TO REDUCE US DOLLAR SHARE IN NATIONAL WEALTH FUND
13.11.2019

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 […]

Alibaba plans to launch $15 billion Hong Kong share sale
13.11.2019

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 […]

NIKKEI INCHES LOWER AS TRUMP SPEECH, HK’S POLITICAL UNREST BRING ANXIETY
13.11.2019

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
11.11.2019

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 […]

Trump says trade talks with China are doing well, stresses deal has to be great
11.11.2019

“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
09.11.2019

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 […]

Boris Johnson vows to issue Post-Brexit Visas for Doctors, Nurses
08.11.2019

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 […]

PM Shinzo Abe asks cabinet to prepare measures to support economy
08.11.2019

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
08.11.2019

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 […]

Bank of England to retain interest rate level in pre-election meeting
07.11.2019

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. […]

TikTok denies ties with China, U.S. lawmakers unconvinced
06.11.2019

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
06.11.2019

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 […]

China woos Trump to remove tariffs through phase 1 trade deal
05.11.2019

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
05.11.2019

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 […]

Autos, mining gains drive European shares upsurge
04.11.2019

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
30.10.2019

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
28.10.2019

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
16.10.2019

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
11.10.2019

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
09.10.2019

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
26.09.2019

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
26.09.2019

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
23.09.2019

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
19.09.2019

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
19.09.2019

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
17.09.2019

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 Europe
17.09.2019

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
16.09.2019

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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