Владимир Кулаков

+3228082114
Vladimir is an expert who has developed his methods for generating profit from investing in stocks, funds, and startups. He has been a practicing trader and analyst for over 15 years. Vladimir can teach you how to manage your resources based on news and macroeconomic data properly.
Kulakov’s main task is to help traders get a deep understanding of the Forex market.

French, German consumer confidence skids in November amidst new lockdowns
27.11.2020

Eurozone’s two biggest economies – Germany and France – are suffering from poor consumer confidence in November as new COVID-19 lockdowns were implemented, data from a study showed on Thursday. Several establishments including bars, restaurants, hotels, and entertainment venues were shut again this month in both countries due to the re-imposition of restrictions to contain […]

Oil slips on quiet trade due to supply worries, vaccine doubts
27.11.2020

Oil prices fell on Friday in subdued trade amid the U.S. Thanksgiving holiday and worries about oversupply. Doubts about a successful vaccine putting an end to the coronavirus pandemic also weighed on prices. Brent crude slid by 10 cents to $47.70 per barrel following a 1.7% fall overnight. U.S. West Texas Intermediate dropped 1.9%, or […]

China’s economic growth steadies as exports peak
26.11.2020

China’s economic growth steadied in November built on strong global demand for exports as well as 5-year high stock market gains. Bloomberg’s aggregate index showed upbeat economic indicator figures for China, remaining on track of its recovery path and its sights of being the lone economy likely to expand this year. After gaining full control […]

Asian shares ease after vaccine-driven rally
26.11.2020

Asian shares made minimal losses on Thursday. The series of declines came after global markets eased from a massive rally. In addition to this, investors’ focus deviated from encouraging vaccine news to weak employment figures and freshly implemented lockdowns in the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan ended its session with […]

Oil’s vaccine-driven rally eases on growing stockpiles
25.11.2020

Oil prices in the United States took a breather on Wednesday. The decline followed after an industry report revealed that the country’s stockpiles grew larger than what was expected. This heavily restricted a rally brought by encouraging news about an effective coronavirus vaccine. After a 4% increase made on Tuesday, West Texas Intermediate crude recorded […]

Nikkei verges correction before yields in 2021: Reuters poll
25.11.2020

Japanese shares will most likely undergo correction in the near term as a global rally surges in the midst of sparking hopes for vaccines. But the best is yet to come for Nikkei as it is expected to yield its highest gains in 30 years, according to a Reuters poll on Wednesday. In the survey […]

Japan’s ANA shares fall on report airline plans to raise $1.9 billion
24.11.2020

ANA Holdings Inc’s shares dropped 4.2% on Tuesday after reports that Japan’s biggest airline plans to release new shares worth around $1.9 billion. ANA will launch its first share sale since 2012. The issuance is anticipated to raise almost 200 billion yen. In a statement released on Tuesday, the Japanese airline said nothing was decided […]

US business activity expands rapidly in November: HIS Markit
24.11.2020

US business activity was seen growing at its fastest rate in over five years in November. The upbeat reading is an indication the US economy is clawing back from a COVID-19-driven recession. IHS Markit’s manufacturing and services sector purchasing managers’ indexes propelled, lambasting predictions of leveling off amid virus resurgence. The manufacturing index increased to […]

Singapore raises third-quarter GDP; economy to expand in 2021
23.11.2020

The economy of Singapore declined milder than what was initially estimated in the third quarter. The revised reading came after the city-state gradually lifted some of its coronavirus-driven restrictions, with authorities expecting an economic rebound in 2021. Gross domestic product recorded a 5.8% drop year-on-year in the third quarter, the ministry of trade and industry […]

Dollar steadies as Mnuchin calls time on Fed’s lending
20.11.2020

The dollar steadied on Friday after U.S. Treasury Secretary Steven Mnuchin called an end to some of the Federal Reserve’s lending amid the pandemic. Mnuchin’s statement derailed a risk rally and rattled investors leaning on central bank support. The dollar index traded at 92.306, a little below Tuesday’s high of $1.18935. It is up 0.3% […]

European shares fall on second day as virus fears weigh on vaccine hopes
18.11.2020

European stocks fell on Wednesday as fears about additional economic damage and renewed restrictions due to rising coronavirus cases weighed on news about promising vaccine trial results.  The pan-European STOXX 600 fell for a second straight day after sliding 0.4%. Real estate .SX86P and energy stocks .SXEP dropped, while tech stocks .SX8P rose. Britain’s RSA […]

Eurozone to see double-dip economic contraction
18.11.2020

According to a Reuters survey of economists, the Eurozone is currently approaching its first double-dip economic downturn in nearly a decade. Moreover, economists deemed that government funding allocated to monetary stimulus is inadequate to stage a robust rebound in 2021. After forecasting a steady recovery, economists rendered a 2.5% contraction this quarter as large portions […]

Oil rises ahead of OPEC+ meeting, vaccine hopes
17.11.2020

Oil prices gained on Tuesday on hopes that OPEC+ will maintain its output cuts for at least three months, while sentiment was boosted by news of another promising COVID-19 vaccine. Brent crude futures for January gained 0.4%, or 16 cents, at $43.98 per barrel. U.S. West Texas Intermediate crude for December contract rose 0.3%, or […]

Siemens surpasses earnings forecast on CEO’s swansong
12.11.2020

On Thursday, German engineering group Siemens SIEGn.DE announced that its industrial profit surpassed expectations. This came to be the final set of results overseen by long-standing Chief Executive Joe Kaeser before stepping down from his post. The software provider said it expected better market conditions in 2021 as the global economy made a cautious rebound […]

Oil soars on hopes OPEC+ will restrict supply amid surging virus cases
12.11.2020

Oil prices advanced during their morning session on Thursday. The jump heavily contributed to this week’s 12% growth as the world’s top producers plan to restrict supply mainly from the coronavirus’s impact on fuel demand. U.S. West Texas Intermediate crude futures recorded a 0.8% increase to $41.80 per barrel, while Brent crude futures advanced 0.7% […]

ArcelorMittal posts its third-quarter net revenue, beating profit expectations amid the coronavirus pandemic
05.11.2020

On Thursday, ArcelorMittal (MT) posted its net revenue for the third quarter. The world’s largest steelmaker said that the easing of coronavirus restrictions improved the steel demand worldwide. ArcelorMittal said that its operating income reached $0.7 billion in the third quarter, including impairment net reversal worth $0.6 billion. ArcelorMittal’s Chief Executive Officer Lakshmi Mittal stated […]

Twitter’s third-quarter earnings fall due to a few added users
30.10.2020

On Thursday, Twitter Inc. (TWTR.N) reported that it added fewer users than Wall Street had expected. The American social networking company stated that the rise in its expenses would accelerate in the fourth quarter. Twitter said that it expects shares to fall by 16%. Its advertising revenue in the third quarter climbed by 15% to […]

Starbucks to reach above estimates for its 2021 earnings
30.10.2020

On Thursday, Starbucks Corp (SBUX.O) announced that its earnings forecast in 2021 were above estimates in light of strong demand for online orders and a recovery in the restaurant industry amid the coronavirus pandemic. The American multinational chain of coffeehouses and roastery reserves stated that it was forced to shut down many branches and limit […]

Samsung Electronics expects a decline in its fourth-quarter revenue due to weak server chip demand
29.10.2020

On Thursday, Samsung Electronics Co Ltd (005930.KS) announced that it expects a plunge in its fourth-quarter revenue due to weak server chip demand and rising smartphone competition. “After the U.S. restrictions against Huawei Technologies (HWT.UL) took effect in earnest, demand from Chinese customers has increased,” Samsung’s Senior Vice President of Memory Product Planning & Application […]

Dollar holds gains as surging coronavirus cases boost safe-haven bid
29.10.2020

The dollar held onto gains against a basket of currencies amid rising coronavirus cases in Europe on Thursday. This fueled investor’s worries that renewed lockdowns would drag the already weak economic recovery. The dollar index steadied at 93.39 after gaining 0.3% in early trade. Against the Japanese yen, the dollar firmed at 104.45 after falling […]

U.S. auto safety regulators monitor Tesla’s new software version
23.10.2020

On Thursday, U.S. auto safety regulators announced that they would closely monitor Tesla’s new software version of self-driving cars. The organization said that Tesla must be ready to protect the public against safety risks. On Tuesday, Tesla Inc. (TSLA.O) released a beta version of its “Full Self-Driving” software upgrade to an undisclosed number of “expert […]

Netflix’s subscriber count falls amid the coronavirus pandemic
21.10.2020

On Tuesday, Netflix Inc. (NFLX.O) posted its weakest subscriber count in four years. The American technology and media services provider said that the number of Netflix’s subscribers went down because travel restrictions eased and live sports returned to television. It also added that streaming competition increased amid the coronavirus outbreak. The firm stated that there […]

European shares boost as strong earnings report boost market sentiment
19.10.2020

European stocks saw gains during morning trade on Monday, buoyed by strong earnings updates from Dutch firm Philips, and Swiss wealth manager Julius Baer, which overshadowed concerns about the new lockdown measures implemented across the region. The pan-European STOXX 600 index gained 0.8% at 0711 GMT (0311 AM ET), picking up steam after a string of consecutive […]

Foxconn Technology Group wants to supply components to about 3 Million EVs in the next seven years
16.10.2020

On Friday, Foxconn Technology Group (2354.TW) reported that it aims to provide components and services to 10% of the world’s electric vehicles (EV) in the next five to seven years. Foxconn said that it already started talking to multiple car manufacturers for future cooperation. “We want to push Taiwan’s EV industry to the world,” Foxconn’s […]

Dollar, yen firm on worries about renewed lockdowns
15.10.2020

The dollar and yen firmed on Thursday as resurging COVID-19 infections and little progress on a U.S. stimulus package rattled investors. The Aussie hit a one-week low after the Reserve Bank of Australia hinted at monetary easing. The safe-haven yen traded at 105.25 on the dollar in early trade, slightly lower than the two-week high […]

Japan’s wholesale prices decline in September, posing deflation risk
12.10.2020

September had seen Japan’s wholesale prices dropping 0.8% from a year ago, data showed on Monday. The drop came to be the seventh consecutive month of year-on-year declines, tipping back the world’s third-largest economy into deflation. The corporate goods price index (CGPI) recorded a 0.8% drop, placing sharper than the 0.5% median forecast rendered by […]

Miniso Group plans to raise its IPO to $562.4 Million
08.10.2020

On Wednesday, Miniso Group Holding Ltd. said in a regulatory filing that it plans to raise its initial public offering (IPO) to $562.4 Million. The low-cost Chinese retailer and variety store chain was backed by Tencent Holdings Ltd. (0700.HK). Goldman Sachs and BofA Securities would serve as the company’s underwriters for the offering. Miniso stated […]

Japan’s service sentiment sees two-and-a-half-year peak, bankruptcies plunge
08.10.2020

Sentiment in Japan’s services sector greatly advanced in September, recording its sharpest jump in 2-1/2 years, government data showed on Thursday. This indicated that the economy is slowly emerging from the coronavirus drag. Economy watchers, a survey for workers that gauges their proximity to consumer and retail trends, showed that workers’ confidence about the current […]

Dollar holds gains as Trump calls off U.S. stimulus talks
07.10.2020

The dollar held its ground against most peers on Wednesday after U.S. President Donald Trump cancelled talks on a stimulus package with Democrat lawmakers, prompting a safe-haven bid. Trump’s abrupt decision to cancel stimulus talks several weeks before the presidential election increases risks for the shaky U.S. economy. Against the euro, the dollar stood at […]

German industrial orders soar in August
06.10.2020

Orders for German-made goods rose by 4.5% in August, bringing optimism for a robust third-quarter in Europe’s largest economy after the COVID-19 crisis. The gains were attributed to demand from the Eurozone, according to the Federal Statistics Office on Tuesday, signaling that some companies were gradually recovering from the pandemic. Orders from abroad gained by […]

European stocks seen lower amid COVID-19 concerns
06.10.2020

European stock markets traded lower on Tuesday over uncertainties of the COVID-19 crisis, despite positive signs of recovery in German manufacturing sector. Germany’s DAX futures fell by 0.1% at 3:45 AM ET (0745 GMT). France’s CAC index slipped by 0.1%, while FTSE futures in the U.K. lost 0.5%. Puma dropped 2.8% after French luxury group Kering completed […]

Oil gains as Trump returns to White House
06.10.2020

Oil prices rose on Tuesday over fears that refineries could close again due to a storm brewing in the U.S Gulf. Investors were also relieved by news that President Donald Trump returned to the White House after being discharged from the hospital for COVID-19. U.S. West Texas Intermediate crude futures rose 0.9%, or 36 cents, […]

China’s factory activity expands faster on strong overseas demands
30.09.2020

China’s manufacturing activity was seen expanding in September, twin surveys showed. The solid expansion followed after the nation’s exports advanced on strong overseas demand, indicating a steady economic rebound from the pandemic drag. The official manufacturing Purchasing Managers’ Index (PMI) was read at 51.5 in September. The figure came higher than the 51.0 reading seen […]

Indian house prices to see a 6% drop this year
29.09.2020

Indian house prices are expected to plunge worse than the prediction rendered three months back. This is likely as surging coronavirus infections ravaged demand in an economy trying to fight its historic contraction, a Reuters survey showed. Even before the virus crisis ravaged the country, house prices had seen almost a 1% decline during the […]

Nissan to release new automotive units in China in 2025
28.09.2020

On Saturday, Nissan Motor Corporation (7201.T) announced that it plans to release new automotive units in the growing Chinese market over the next five years. The Japanese multinational automobile manufacturer said that the move could help the struggling company return to making profit. “The recovery in the Chinese market has been very remarkable, and our […]

Gold prices fall amid uncertainty over U.S. election debate
28.09.2020

Gold futures lost 0.05%, trading at $1,865.30 per ounce at 12:09 PM ET (4:09 AM GMT). Meanwhile, the U.S. Dollar also traded lower with stocks gaining in Asia on Monday. Apart from the debate between Trump and Biden, investors are also looking if the U.S. Congress will reach an agreement on its latest stimulus package, with House […]

China shares support Asian markets; virus, presidential debate dampen mood
28.09.2020

Chinese shares lifted Asian share markets on Monday. However, market sentiment was dampened ahead of a U.S. Presidential debate and as an upsurge in new coronavirus infections dragged investors’ optimism for global recovery. While MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.5% gain, it still placed near a two-month low seen last […]

Dollar steadies below two-month highs, risk currencies recover losses
25.09.2020

The dollar steadied below its recent two-month highs on Friday and risk currencies recovered weekly losses, while equity markets were boosted by hopes that U.S. fiscal stimulus talks would resume. The dollar is on course for its best week since early April, supported by risk aversion that urged investors to quit their sell positions amid […]

Harley-Davidson partners with Hero MotoCorp for a distribution deal
25.09.2020

On Thursday, Harley-Davidson Inc. (HOG.N) reported that it was in advanced talks with India’s Hero MotoCorp. (HROM.NS) for a distribution deal. The Milwaukee-based motorcycle manufacturing company said that the deal would allow its iconic motorcycle units to be available in India. “Hero will be the master distributor for Harley bikes in India. This will be […]

Japan factory output advances for third month; gradual recovery monitored
25.09.2020

Japan’s factory output likely recorded three consecutive months of expansion ended August. However, it is monitored at a slower pace, indicating a modest recovery in the manufacturing sector, a Reuters survey showed on Friday. Industrial output is predicted to have advanced 1.5% in August. It previously recorded a revised 8.7% growth in July, the fastest […]

Asian shares plunge as global recovery hopes dim
24.09.2020

Asian share markets were seen subdued on Thursday. Shares across the region were posed to record their weakest session in two months as warnings from U.S. Federal Reserve officials underscored investors’ sentiment over the global economic recovery from the coronavirus crisis. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.93% loss during the […]

Gold prices fall as U.S. housing data strengthens Dollar
23.09.2020

Gold prices fell earlier on Wednesday in Asian markets after the Dollar found strength in cheery housing market data in the U.S. despite the growth in COVID-19 cases. Gold futures lost 1.01%, trading at $1,888.04 per ounce at 12:46 PM ET (04:46 AM GMT). Recent housing market data in the U.S. bolstered the Greenback on […]

Dow remains unchanged amid weak financial shares
23.09.2020

The Dow remained mostly unchanged on Tuesday after it struggled to find direction after gains in tech stocks were offset amid weak financial stocks. Market sentiment was further dampened by a resurgence of COVID-19 cases globally as well as a lack of additional fiscal stimulus packages. The Dow Jones Industrial Average inched up by 0.30% […]

Wall Street declines on lockdown concerns, stimulus impasse
22.09.2020

Wall Street’s major indexes were seen at lows on Monday. The decline could be attributed to investors’ subdued sentiment as the possibility of lockdown in Europe and delays in stimulus from the Congress highlight a bumpy economic recovery. The death of U.S. Supreme Court Justice Ruth Bader Ginsburg also restricted another round of stimulus from […]

Asian shares seen restricted on U.S. election, stimulus concerns
21.09.2020

Asian share markets and majority of currencies were seen restrained on Monday. This followed after investors’ sentiment was affected by concerns about U.S. fiscal stimulus and vaccine clinical trials amid an upsurge of new virus cases in Europe. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% decline. Australia’s benchmark index was 0.5% […]

Rolls-Royce to tap investors for £2.5 billion amid the coronavirus pandemic
21.09.2020

On Saturday, Rolls-Royce Holdings Plc. (RR.L) reported that it plans to tap investors for 2.5 billion pounds ($3.2 billion) to boost its finances amid the coronavirus outbreak. The British multinational engineering company said that it was working with Goldman Sachs’s (GS) bankers on debt and equity issuances. “We continue to review all funding options to […]

Dollar steadies after sliding overnight on weak U.S. data
18.09.2020

The dollar steadied in early Asian trade on Friday after sliding overnight on bleak economic outlook due to weak U.S. data. The safe-haven yen stabilized after climbing against the dollar and the euro the previous day. The dollar lost gains after the Federal Reserve revised its 2020 GDP forecast. It last stood at 92.866 against […]

Oil prices climb on hurricane shutdown, inventories drop
16.09.2020

Oil prices extended gains on Wednesday as a hurricane suspended U.S. offshore oil and gas refineries in the Gulf of Mexico and crude inventories declined. Brent crude rose 0.4%, or 15 cents, at $40.68 per barrel. U.S. crude climbed 0.5%, or 18 cents, at $38.46 per barrel. Both contracts gained over 2% in the last […]

Oil prices fall as bleak demand outlook weighs on market sentiment
15.09.2020

Oil prices fell on Tuesday as concerns about lagging fuel demand recovery were raised by major oil producers. Still, short-covering ahead of the OPEC+ meeting put a cap on losses. Brent crude slid 0.1%, or 5 cents, at $39.59 per barrel. U.S. West Texas Intermediate crude futures were down 0.1%, or 3 cents, at $37.23 […]

Crude prices slump amid supply worries
14.09.2020

Crude oil prices slumped earlier on Monday as investors remained cautious about ongoing supply and demand worries. U.S. crude futures slipped by 0.8%, exchanging hands at $37.05 per barrel, while Brent futures fell by 0.7% to $37.55 per barrel. Market sentiment was further soured after the publication of BP’s new outlook for the energy industry, […]

Oil mixed as U.S. gulf operations shut due to storm
14.09.2020

Oil prices were mixed on Monday with U.S. crude climbing as a tropical storm in the U.S. Gulf forced operations to close. Still, gains were held steady amid oversupply and weak fuel demand. U.S. West Texas Intermediate crude futures rose 0.2%, or 9 cents, at $37.42 per barrel. Brent crude lost 3 cents to $39.80 […]

ByteDance to drop Tiktok’s U.S. sale and partners with Oracle
14.09.2020

On Sunday, ByteDance announced that it would abandon TikTok’s United States sale to pursue a partnership deal with Oracle Corp. (ORCL.N). The Chinese multinational internet technology company had been in discussions last month to divest TikTok’s U.S. business to Oracle. ByteDance also had an alliance with Microsoft Corp. (MSFT.O) after the U.S. President Donald Trump […]

Initial unemployment claims seen higher than forecasts
11.09.2020

The number of Americans applying for initial unemployment benefits were recorded at a larger number than what was initially forecasted last week, sending off the signal that a recovery in the labor market may be prolonged amid the ongoing COVID-19 pandemic. Economists had forecasted a decline of 846,000 last week. However, numbers were revised up […]

Wall Street plunges on Thursday as tech stocks plummet
11.09.2020

Wall Street saw a sharp decline on Thursday after tech stocks retreated from gains made earlier in the day.  In addition, signs of a slowdown in the labor market raised concerns about the strength of an economic recovery. The Dow Jones Industrial Average fell by 1.45% (406 points), while the S&P 500 lost 1.77%. The […]

Wall Street plunges on suffering tech shares
11.09.2020

U.S. shares declined after a turbulent performance on Thursday. This followed after technology stocks reversed from a sharp recovery and resumed their decline. Meanwhile, increased unemployment claims projected a bumpy recovery ahead. Apple Inc, Microsoft Corp, and Amazon.com all recorded a 2.8% loss. Shares of these companies plunged after rallying from March lows. However, Tesla […]

ByteDance invests billions in Singapore for three years
11.09.2020

On Friday, ByteDance announced that it plans to invest billions of dollars and recruit hundreds of employees in Singapore. The Chinese multinational internet technology company said that it would base its Southeast Asia regional headquarters in Singapore. ByteDance stated that the three-year plan began in 2019. The company purchased servers in global trade and internet […]

Euro holds gains, dollar falls as traders await ECB meeting
10.09.2020

The euro held onto gains against the dollar on Thursday as markets awaited the European Central Bank’s meeting to get clues on the policymakers’ views on the single currency’s rise and its effect on inflation. The pound steadied above a six-week low but could slide deeper due to the escalating possibility that the EU-UK post-Brexit […]

Nasdaq futures underperforms as tech stocks continue losses
09.09.2020

U.S. stocks were on track to open lower, with technology stocks to continue last week’s slump as investors took a step back to reevaluate their position after a string of strong gains recently. S&P500 futures fell by 0.6% (21 points), while Dow futures slipped by 0.1% (20 points). Nasdaq Futures saw its worst hit, falling […]

TikTok joins the EU code of conduct against hate speech

 
08.09.2020

On Tuesday, ByteDance’s TikTok announced that it would join the European Union’s voluntary code of conduct to combat illegal hate speech on social media websites. “It’s good that TikTok joined the code – a company favored by young users who are particularly vulnerable to online abuse and illegal hate speech. Of course, I expect TikTok […]

Gold prices continues its descent amid strengthening Dollar
08.09.2020

Gold prices continued its descent earlier on Tuesday in Asia as the Dollar continued to pick up momentum. However, the yellow metal’s losses remained limited amid economic worries due to the COVID-19. Gold futures lost 0.14%, exchanging hands at $1,931.45 by 12:37 AM ET (0537 GMT) after reaching a high of $1,945.90 on Monday. Gold’s […]

Amazon Japan to submit an improvement plan to trade regulators
04.09.2020

On Friday, Amazon Inc. (AMZN.O) said that it had submitted a plan to Japan’s fair trade regulators on how it would improve its services. According to The Asahi Shimbun newspaper, the move was made to avoid violating anti-trust rules. It added that the improvement plan includes a refund to suppliers who were pressured to pay […]

Virgin Atlantic to cut 1,150 jobs after completing rescue deal

 
04.09.2020

On Friday, Virgin Atlantic announced that it would slash 1,150 jobs and put another 600 cabin crew on extended furlough due to a slow recovery in the global travel demand. The British airline said that the U.S. court signed off the restructuring deal worth £1.2bn on Thursday night. “Together, we have achieved what many thought […]

Amazon creates 7,000 permanent jobs in 2020 to boost the UK’s labor market
03.09.2020

Amazon (AMZN.O) said on Thursday that it would create 7,000 permanent jobs in 2020 to boost United Kingdom’s troubled labor market. The multinational technology company added that it plans to have a total of 10,000 new hires this year. The Seattle-based e-commerce company said that the 7,000 new roles would be for warehouse workers, engineers, […]

Exxon Mobil weighs global job cuts after unveiling its lay-off program for Australian employees
02.09.2020

On Wednesday, Exxon Mobil Corp (XOM.N) said that it would assess possible worldwide job cuts after the company announced that it had started a voluntary redundancy program for its Australian employees. The program was offered to all employees located in Melbourne, Gippsland, Sydney, Adelaide, and Perth. “We have evaluations underway on a country-by-country basis to […]

Dollar climbs on strong U.S. economic data
02.09.2020

The dollar recovered from two-year lows on Wednesday as U.S. data showed strong manufacturing activity, while the euro fell from its highest levels since 2018. U.S. manufacturing activity rose to a near two-year high in August amid a surge in new orders. Chinese and European manufacturing indicators also reported upbeat data. The dollar index rose […]

Asian shares hike on upbeat U.S. factory poll, stimulus optimism
02.09.2020

A rally in tech-related stocks and upbeat manufacturing indicators in the United States sent Asian shares up on Wednesday. Meanwhile, additional policy support expected from Washington also supported the jump. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.25% gain. Japan’s benchmark index Nikkei jumped 0.35%. Mainland Chinese shares were seen a shade […]

Tesla plans to raise $5 billion through a share sale program
01.09.2020

On Tuesday, Tesla Inc. (TSLA) said that it plans to raise $5 billion through a share sale program. The move came after Tesla announced its 5-for-1 stock split on Monday. “This move may lead to higher retail shareholding. You are providing a good entry point. It is enabling split into smaller fractions, in turn enabling […]

SoKor’s exports decline for six straight months, demand recovers
01.09.2020

South Korean exports declined for six consecutive months ended August. The drop followed after working days were reduced. Meanwhile, global demand was seen recovering as lockdown measures in key trading partners were lifted. August had seen outbound shipments dropping 9.9% from a year earlier, government data showed. The decline came faster than the 7.1% drop […]

Gold gains renew hopes for $2,000 benchmark despite August’s record slump
01.09.2020

Gold prices rose slightly on Monday, renewing hopes that the yellow metal could return to its $2,000 perch despite a string of losses in August. Gold futures for December delivery on Comex last traded at $1,978.60 per ounce, rising by $3.70 (0.2%) and reaching a session high of $1,985.30 an ounce. However, the gains made […]

Danske Bank collects excessive debt from 106,000 customers due to IT errors
31.08.2020

On Monday, Danske Bank (DANSKE.CO) reported that it collected outdated or excessive debt from its 106,000 customers due to errors in its computer systems. “Due to data quality issues, Danske Bank has collected more debt from debt collection customers than the bank was entitled to,” Danske Bank’s spokesman said in an interview with Reuters. Denmark’s […]

United States cuts Philips ventilator orders in 2020
31.08.2020

On Monday, Philips (PHG.AS) announced that the U.S. Department of Health canceled a bulk order of 43,000 hospital ventilators leading the Dutch medical equipment maker to cut its 2020 earnings outlook. The termination was based on the July 2020 report by the U.S. Congress House Subcommittee on Economic and Consumer Policy. The report stipulated that […]

Indian outlook remains dim as recession presses: Reuters poll
28.08.2020

India’s virus-beaten economy is expected to suffer further for the rest of the year and will likely recover in early 2021. The forecast is likely as an upsurge in new virus infections outweighed a nascent recovery in consumption and business activity, a Reuters survey showed. As nationwide lockdown completely dragged business activity in the second […]

Xpeng to increase U.S. IPO size to $1.5 billion
27.08.2020

On Thursday, Chinese electric vehicle (E.V.) maker Xpeng announced that it would increase the size of its U.S Initial Public Offering (IPO) to about $1.5 billion. It would become the third Chinese electric vehicle startup to go public in New York City after Nio’s $1 billion IPO in 2018 and Li Auto’s $1.1 billion IPO. […]

U.S., China reaffirm commitment to Phase One trade deal
25.08.2020

Financial markets were given a boost on Tuesday after top U.S. and Chinese trade officials have reaffirmed their commitment to the Phase 1 trade deal after months-long disputes. The deal was made through a phone call between U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The call […]

European shares up as new COVID-19 vaccine lift hopes
25.08.2020

European shares were slightly higher on Tuesday after market sentiment was boosted by optimism with a potential COVID-19 vaccine. A report by the Financial Times stipulated that the U.S. had fast-tracked a potential COVID-19 treatment developed by the University of Oxford and AstraZeneca to be ready before the November elections. European shares opened higher, with […]

S&P, Nasdaq reach new peaks on Wall Street’s bullish run
25.08.2020

The S&P 500 and the Nasdaq closed sessions with new record highs on Monday. The jump made by Wall Street’s major indexes could be attributed to investors’ upbeat sentiment over medical breakthroughs to combat the coronavirus. The benchmark index S&P 500 reclaimed its February peak last week. This indicated a bullish momentum and the most […]

Australian employment drops deeper, indicates labor market woes
25.08.2020

Australia had monitored a 1% decline in employment over the month ended Aug. 8, data showed on Tuesday.  Meanwhile, job prospects were seen slumping the most in the southeastern state of Victoria as it struggles to contain a surge in new coronavirus cases. The recent decline in employment underscored the worsening problems in the labor […]

Dollar falls as markets favor risk sentiment
24.08.2020

The dollar fell in early London trading on Monday, while risk currencies rose and European markets opened higher. Analysts said that the pick up in sentiment was caused by the approved treatment for COVID-19 patients by U.S. regulators.  The global coronavirus death toll surpassed 800,000, with the United States at 170,000.  Asian shares firmed overnight […]

Asian stocks ease, data drags dollar
21.08.2020

Asian share markets advanced on Friday, tracking Wall Street’s rally. However, they are set to hit a subdued week in about a month as investors grapple with weak economic data and intensive valuations following a prosperous performance that has salvaged virus-led losses. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.6%. While the index […]

S&P retracts from record high as Fed minutes highlight virus’ impact on economy
20.08.2020

The S&P 500 retracted from record highs after tech stocks began to run into some resistance, and after the released U.S. Fed minutes revealed how several sectors of the economy still remained to be affected by the COVID-19 pandemic. The S&P 500 held steady at 3,387, after it had hovered to an intraday high of […]

Asian shares, oil drop on dim U.S. outlook
20.08.2020

Asian equities and U.S. futures were seen dropping on Thursday. The decline could be attributed to the U.S. Federal Reserve’s murky economic outlook, emerging tensions between Australia and China, and fresh coronavirus cases. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.24% drop. U.S. stock futures and e-minis for the S&P 500 plunged […]

Gold breaks above $2,000 mark amid slump in U.S. bond yields, Dollar
19.08.2020

Gold prices broke above the $2,000 mark, recovering from last week’s 5% plunge amid a slump in U.S. bond yields and a weakening Dollar. Gold futures for December delivery on Comex rose by 0.7% ($14.40) to $2,013.10 per ounce after it had peaked to a session high of $2,023.90. The spot price of gold, which […]

Nasdaq reaches record high, S&P 500 inches close as tech shares rally
18.08.2020

Nasdaq last traded at a record high while the S&P 500 closed just four points shy of an all-time high as tech stocks started the day on a strong note. The S&P 500 index ended the day 0.3% higher, while the NASDAQ Composite was up by 1%. However, the Dow Jones Industrial Average fell by […]

President Trump rejects Pentagon proposal to cut U.S. military health care by $2.2 billion
18.08.2020

On Monday, U.S. President Donald Trump announced that he had rejected a Pentagon proposal to cut funding for healthcare among U.S. military members by $2.2 billion. “A proposal by Pentagon officials to slash Military Healthcare by $2.2 billion dollars has been firmly and totally rejected by me. We will do nothing to hurt our great […]

Walmart expects improved second-quarter sales
17.08.2020

Walmart Inc. (WMT.N) reported on Monday that its margins and online sales would improve in the second quarter as the largest U.S. retail company received government stimulus checks from American shoppers. Most customers purchased higher-priced products such as sneakers and toys along with daily essentials. “Unlike other retailers, we believe Walmart took most of the […]

Gold prices down as economic and Dollar recovery signs emerge
14.08.2020

Earlier on Friday, gold prices traded lower earlier in Asia amid emerging signs that the U.S. economy was on track for a recovery. A rebounding U.S. Dollar also put the pressure on the yellow metal, though losses in gold were limited over the suspension of talks for a stimulus deal in U.S. Congress. Gold futures […]

Google to cut data requests from the Hong Kong administration
14.08.2020

On Friday, Alphabet Inc.’s (GOOGL.O) Google announced that it would stop accommodating Hong Kong’s data request for its new national security law imposed by the Chinese government. The United States technology company stopped providing data since June 2020.   “As always, authorities outside the U.S. may seek data needed for criminal investigations through diplomatic procedures,” […]

Asian shares decline on weak Chinese data
14.08.2020

Asian shares were seen struggling on Friday. This followed after weak Chinese economic data and worries about a delay in U.S. fiscal stimulus dampened investors’ risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.24% decline. Japan’s benchmark index Nikkei advanced 0.07%. Meanwhile, South Korean stocks dropped as new coronavirus infections in […]

Aussie employment hikes, jobless rate milder than expected
13.08.2020

July had seen Australian employment advancing higher, surpassing analysts’ forecasts. However, the increase was still insufficient to neutralize the bloating numbers of job seekers as the country’s unemployment rate hit a 22-year peak. The land down under monitored its employment to have jumped by 114,700 new jobs, surpassing a 40,000 increase expected as large portions […]

Australia’s second quarter wage growth subdued on pandemic hit
12.08.2020

The second quarter had seen Australian wages expanding at the most gradual pace on record, highlighting the damage inflicted by the pandemic on household spending.  This followed after recent data showed weak consumer confidence and struggling business conditions. The official wage price index (WPI) recorded a 0.2% increase in the three months ended June, the […]

UK sees record drop in employment since 2009
11.08.2020

Britain reported its biggest drop in the number of employed individuals as a sign that the COVID-19 pandemic could take a heavier toll on the labor market after the government eases its job-protection scheme. Figures released on Tuesday showed that the number of people in employment fell by 220,000 people from a three-month period through […]

European stocks hit near three-week high as auto, travel shares surge
11.08.2020

European shares reached a three-week high on Tuesday after automakers saw a surge in car sales in China, lifting hopes of an economic recovery from the COVID-19 pandemic. The pan-European STOXX index gained 1.6%, with the rally being led by stocks from travel and leisure companies, miners, and energy firms. The U.K.’s FTSE index gained […]

The United Kingdom privacy watchdog to probe Barclays for monitoring staff
10.08.2020

On Monday, the United Kingdom’s privacy watchdog, the Information Commissioner’s Office (ICO), said that it would investigate Barclays Plc. (BARC.L) over allegations that the bank spied on its staff. The bank has been accused of keeping tabs on its staff members during work hours after a system change to track how employees spent their time […]

Reserve Bank of New Zealand to hold rates, consider more easing
07.08.2020

The Reserve Bank of New Zealand is expected to hold rates steady at its Wednesday policy meeting amid signs of economic improvement. The central bank is also likely to release its plans for future policy action as it arms the country against the impact of the pandemic. Most economists predict New Zealand’s official cash rate […]

UK economy to take slower pace to recovery: Bank of England
07.08.2020

The Bank of England said on Thursday that the U.K. economy will take a slower pace to recover as it faces pressing risks including surging unemployment claims and a second wave of coronavirus infections. The longer-than-expected economic recovery of the UK is anchored to the central bank’s projection of a 9.5% shrink in the GDP […]

Sterling to decline this year on Brexit woes
06.08.2020

The sterling, which was on track for its five-month peak on Wednesday, is expected to lose footing this year as Brexit uncertainty and coronavirus-related concerns intensified. A subdued year for the currency is foreseen before recuperating in 2021, a Reuters survey showed. July had seen the pound recording its largest monthly increase in more than […]

German industrial orders rise sharply in June
06.08.2020

German industrial orders surged in June as Europe’s largest economy began to ease from the effects of the months-long lockdown due to the COVID-19 pandemic. However, volumes were still below levels as they were before the pandemic, data from the Statistics Office showed. Orders surged to an adjusted 27.9% compared to May, which was more […]

UK banks ready for $22 billion loan losses as outlook dampens
05.08.2020

British banks cut back their outlook for the year further than most of their European peers in the second quarter earnings report as the COVID-19 pandemic, Brexit, and low interest rates led them to prepare for “worst-case” scenarios in their risk models.    Banks such as Barclays, Standard Chartered, Lloyds, NatWest Group, and HSBC underperformed despite […]

Oil retreats from multi-month highs as surge in COVID-19 cases prompts fuel demand fears
05.08.2020

Oil prices dropped for the first time in four days, retreating from as much as five-month highs as a continued surge in worldwide coronavirus cases undersold investors’ confidence in fuel demand recovery. Brent crude fell 0.1%, or 4 cents, at $44.39 per barrel. U.S. West Texas Intermediate lost 0.2%, or 8 cents, at $41.62 per […]

Thailand may see exports shrink by 15% in 2020
04.08.2020

Thailand’s exports may shrink by 15% for 2020 as the COVID-19 situation continues to worsen and affect global demand, a Thai shipping association said on Tuesday, adding that a stubbornly strong Baht adds further to the pressure. Thailand’s exports fell by 15.2% in the second quarter year-on-year and by 7.1% from January to June. According […]

Oil falls as rising coronavirus cases prompt stricter lockdowns, hurt fuel demand
04.08.2020

Oil prices fell on Tuesday amid fears that a fresh recovery in fuel demand could stall due to rising coronavirus cases. This came as major oil producers increased output while many countries in the world tightened lockdowns. U.S. West Texas Intermediate crude futures slid 0.7%, or 30 cents, at $40.71 per barrel. Brent crude futures […]

Global factory drag eases on euro zone’s rebound
04.08.2020

July had seen euro zone’s manufacturing activity expanding mildly, its first growth since early 2019. Meanwhile, Asia was relieved as export-dependent economies eased from declining, hinting that the sector is recovering from the damages brought by the COVID-19 pandemic. Factories seem to be contributing to euro zone’s potential recovery as IHS Markit’s final Manufacturing Purchasing […]

European shares trade lower after weak earnings reports
30.07.2020

European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost 0.4% at 03:13 AM ET (0713 GMT), weighed down by banking stocks and automakers which fell by […]

Dollar briefly up as investors focus on Fed, coronavirus stimulus
30.07.2020

The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar index bounced 0.4% from a two-year low, while the Aussie fell 8%, breaking its 15-month peak on […]

The U.S. GDP suffers a historic plunge in the second quarter due to the coronavirus pandemic
30.07.2020

On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, stores, factories, and other businesses to contain the virus’s spread. The U.S. central bank kept interest rates near zero […]

Dollar sits near two-year lows ahead of Fed policy meeting
29.07.2020

The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve to stick to a pacifist stance in its policy review later today. The dollar index sat […]

European stocks rise but investors are cautious as Fed decision looms
29.07.2020

On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 index XX (SXXP) slipped by 0.3% to 366.94 after gaining 0.4% on Tuesday. The German DAX DX (DAX) and FTSE […]

Tesla to supply new battery technology to other car manufacturers
29.07.2020

On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open to licensing software and supplying powertrains & batteries. We’re just trying to accelerate sustainable energy, not crush competitors!” Musk said in […]

Remington Arms declares bankruptcy for the second time
28.07.2020

On Monday, Remington Arms Co. filed for bankruptcy protection for the second time since 2018 as the U.S. firearms manufacturer faced financial difficulties due to gun sales restrictions. According to the court filing, the company filed for bankruptcy protection at the U.S. Bankruptcy Court in Northern District of Alabama. Remington Arms Co. declared its assets […]

European shares trade higher despite weak earnings report
28.07.2020

European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher by 0.3% at 03:19 AM ET (0719 GMT), while the German DAX index rose by 0.5%. In the U.K., the […]

Dollar eases amid U.S.-China tensions, coronavirus impact
27.07.2020

The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen and to a 22-month low of $1.1699 on the euro. The dollar index fell to its lowest […]

European stocks slump after UK’s quarantine move on Spain
27.07.2020

European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, travel and leisure shares plummeted by 3.2%, with the descent being led by UK-based airline […]

Virus impact on Japan’s business spending sharper than previously thought
27.07.2020

Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest economy. Government data showed that the country’s capital expenditure only advanced 0.1% in the first quarter from a year ago. The figure came […]

Fed’s lending program grows as balance sheet holds above $7 trillion
24.07.2020

The U.S. Federal Reserve eased another $2 million in emergency loans this week to help struggling U.S. businesses amid the recession. The Fed’s overall asset portfolio reported growth for the second week, holding above $7 trillion. The Fed’s loan balance under its Main Street Lending Program increased from $12 million last week to $14 million. […]

Dollar continues descent as prospects for U.S. economic recovery dampens
24.07.2020

The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment claims and the looming expiry for some stimulus measures also dampened hopes for a […]

Asian shares fall as U.S. orders China consulate closure, fanning tensions
23.07.2020

Asian shares fell on Thursday as the U.S.-China tensions overshadowed hopes for more economic stimulus after Washington ordered the closure of Beijing’s consulate in Houston amid spying allegations. China called the order an “unprecedented escalation,” with sources saying that Beijing is planning to retaliate by shutting down the U.S. consulate in Wuhan. MSCI’s broadest index […]

South Korea scales back capital gains tax on stock amid investor complaints
22.07.2020

South Korea on Wednesday announced that it would scale back its plans to impose capital gains taxes on stock investments after numerous complaints from retail investors. However, taxes will, instead increase for top earners as part of changes in its annual tax code revision. The decision came after retail investors called out the tax policy […]

Oil falls on U.S. crude inventory build, coronavirus fears
22.07.2020

Oil prices dropped on Wednesday as the inventory build in U.S. industry data exceeded expectations, while coronavirus cases continue to surge in the United States, the world’s biggest oil consumer. The American Petroleum Institute reported a 7.5-million-barrel increase in crude inventories last week compared with expectations for a 2.1-million-barrel decline.  Brent crude was down 0.7%, […]

Malaysia and Goldman Sachs to restart talks about 1MDB settlement deal
20.07.2020

On Monday, U.S. international banking giant Goldman Sachs (G.S.) said that it would resume negotiations with the Malaysian government this week to hammer out a multi-billion dollar financial settlement lost in a scandal at sovereign fund 1Malaysian Development Bhd (1MDB). Goldman Sachs’s top-level executives and members of its legal team arrived on Saturday (July 18) […]

United Airlines’ pilots’ union to reach limited furlough agreement
17.07.2020

On Thursday, United Airlines’ (UAL.O) and its pilots’ union said that they had reached an agreement on two different resolutions to reduce involuntary furloughs in August. The company said that it would keep pilots ready once the global travel demand starts to pick up. The Chicago-based airline warned its employees last week that it could […]

Netflix appoints Ted Sarandos as co-chief executive officer
17.07.2020

On Thursday, Netflix Inc. (NFLX.O) promoted the architect of its programming strategy Ted Sarados to the role of co-chief executive officer. Netflix’s Chairman and Chief Executive Officer Reed Hastings announced that Ted would be his successor. “Ted has been my partner for decades. This change makes formal what was already informal — that Ted and […]

Oil falls after OPEC+ eases production cuts
16.07.2020

Oil prices fell on Thursday after OPEC+ agreed to lessen output cuts from August, though the decline was dampened by a recovery in demand as U.S. crude stocks had an unprecedented drop. Brent crude slid 0.3%, or 13 cents, at $43.66 per barrel. U.S. West Texas Intermediate crude fell 0.4%, or 18 cents, at $41.02 […]

China’s economy goes back to growth column after sharp decline, U.S. affairs, weak consumption pose difficulties
16.07.2020

After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus crisis. China’s gross domestic product (GDP) grew 3.2% in the second quarter from a year earlier, the National […]

E.U. Court of Justice rejects the EU-U.S. data transfer mechanism in the Facebook privacy case
16.07.2020

On Thursday, the European Court of Justice (ECJ) rejected the validity of the data transfer mechanism used by the European Union and the United States which could facilitate the transfer of data from both countries. The data transfer tool permits the U.S. intelligence services to access such data for national security reasons. “In respect of […]

CoreLogic rejects $7 billion offer from Cannae Holdings and Senator Investment LP
15.07.2020

Property data and analytics company CoreLogic Inc on Tuesday rejected another $7 billion buyout offer, seeing it inadequate after meeting with the two bidders, investment firms Cannae Holdings Inc and Senator Investment Group LP. Cannae and Senator, which both hold an economic interest of almost 15% in CoreLogic, had proposed to buy the company for $65 […]

Dollar climbs on U.S.-China diplomatic tensions, coronavirus fears
14.07.2020

The dollar climbed against its peers on Tuesday as worries about the U.S.-China diplomatic tensions and rising coronavirus cases affected risk appetite. The dollar traded at 107.26 on the yen after a 0.4% gain in the last session. It stood at 0.9418 on the Swiss franc. The euro firmed at $1.1346 and at 90.40 pence […]

Oil drops on demand recovery concerns, OPEC+ easing
14.07.2020

Oil prices dropped on Tuesday on fears that reimposed restrictions on businesses to control the surge in U.S. coronavirus cases could offset fuel demand recovery and expectations that OPEC+ might ease production cuts from August. U.S. West Texas Intermediate crude futures fell 1.27%, or 51 cents, at $39.59 per barrel. Brent crude futures lost 1.01%, […]

China sees strong imports and exports data for June, but U.S. tension widen trade surplus
14.07.2020

China saw positive customs data on Tuesday, raising hopes that the world’s second-largest economy is on the way to recovering from the COVID-19 pandemic. Exports for June rose 0.5% year-on-year compared to an analysts’ forecast of a 1.5% drop and a decline of 3.3% in May. Meanwhile, imports for June saw a 2.7% increase year-on-year, […]

Singapore slips into virus-led recession, GDP drops 41% in second quarter
14.07.2020

Singapore’s economy recorded its sharpest contraction in the second quarter. This placed the trade-dependent city-state into recession as it is also expected to suffer from its worst inactivity this year on virus-beaten businesses. The city-state’s gross domestic product dropped 41.2% in the three months ended March, surpassing the economists’ prediction of a 37.4% decline. This […]

World shares near five-month high as earnings season begins this week
13.07.2020

On Monday, world shares edged towards a five-month high and the U.S. dollar decreased in late trading as investors anticipated that the earnings season would see most companies beat revenue forecasts in light of the lifted coronavirus restrictions. The U.S. earnings season would begin this week including major Wall Street banks such as JPMorgan (JPM) […]

Dollar sees gains despite U.S. COVID-19 concerns
10.07.2020

The Dollar, as well as other safe-haven currencies, performed well on Friday even as recovery hopes were weighed down by a surge of COVID-19 cases in the U.S. Over 60,000 new cases were reported across the United States on Wednesday, a record hike in numbers in a single day. However, souring market sentiment helped buoy […]

China ‘s producer prices sink further, recuperation still possible
09.07.2020

June had seen China’s factory gate prices falling for five consecutive months. This could be attributed to the novel coronavirus crisis dragging industrial demand. However, improvements monitored in some parts of the sector indicate a gradual economic recovery. The producer price index (PPI) recorded a 3.0% decline in June from a year earlier, China’s National […]

Asian shares rally as investors focus on earnings
09.07.2020

Asian equity markets advanced as investors disregarded the implications of renewed virus lockdowns and emerging Sino-U.S. dispute. Instead, they focused on upcoming company earnings, hoping that global stimulus efforts will render positive outlooks. MSCI’s broadest of Asia-Pacific shares outside Japan jumped 0.6%, securing a 20-week high as Chinese stocks advanced further.  Japan’s benchmark index Nikkei […]

HSBC shares fall as U.S. considers decoupling USD from HKD
08.07.2020

British multinational investment bank HSBC saw its shares slump as low as 3% on Wednesday as the U.S. contemplates measures to sanction banks in the city, as well as de-pegging the Dollar from the Hong Kong Dollar. HSBC shares fell by 2.72% to HK$37.60 ($4.851) at 12:53 Am ET (05:53 GMT), after it saw a […]

Trading of AirAsia’s shares stop after E&Y auditor warns the future of airline as a “going concern”
08.07.2020

On Wednesday, Bursa Malaysia (KLSE) suspended public trading for low-cost carrier AirAsia Group Berhad (AIRA.KL) after an Ernst & Young external auditor gave an opinion about the airline’s ability to continue as a standing concern. “The slump in air travel and poor financial performance indicate the existence of material uncertainties that may cast significant doubt […]

Oil falls as build in U.S. crude stocks adds to oversupply fears
08.07.2020

Oil prices fell in early Wednesday trade as a build in U.S. crude inventories and a forecast for U.S. crude production to fall less than expected added to oversupply concerns. Brent crude futures lost 0.3%, or 13 cents, at $42.95 per barrel. U.S. West Texas Intermediate crude futures slid 0.3%, or 10 cents, at $40.52 […]

Indonesia imposes 10% VAT on Amazon, Google, Netflix and Spotify
07.07.2020

Indonesia on Tuesday imposed a 10% VAT on products by technology firms including Amazon, Netflix, Spotify, and Google as lockdowns forced a surge in spending patterns as well as remote working, which has hit state finances. The Southeast Asian country’s tax office stated that it had already assigned tax identification numbers to Amazon Web Services, […]

Oil drops on demand worries as U.S. virus cases surge
07.07.2020

Oil prices dropped on Tuesday as investors feared that the steady rise in coronavirus cases in the United States will stall demand recovery. U.S West Texas Intermediate crude futures were down 0.4%, or 17 cents, at $40.46 per barrel. Brent crude futures fell 0.4%, or 19 cents, at $42.91 per barrel. As 16 U.S. states […]

Asia shares gain, Chinese blue chips hit five-year high
06.07.2020

Asian shares hit four-month highs on Monday as investors relied on liquidity and market stimulus to support global economic recovery despite the surge of new cases in the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1%. Japan’s Nikkei was up 1.3%. Chinese blue chips hiked 3%, adding to its 7% gain […]

Dollar trades in narrow range, yen drops
06.07.2020

The dollar steadied against its peers on Monday as investors awaited data showing a rebound in the U.S. services sector, a sign that the economy is recovering. The dollar climbed to 107.74 on the yen. It slid to 0.9443 on the Swiss franc.  The euro traded in a narrow range ahead of the release of […]

Gold prices dip as surging COVID-19 cases halts recent rally
06.07.2020

Gold prices fell earlier on Monday in Asia as a continuous surge in new COVID-19 cases halted its recent rally and battered hopes of a swift economic recovery. Market sentiment soured as investors digested the number of cases worldwide. The U.S. reported over 2.8 million new COVID-19 cases in the country as of July 6 […]

Oil prices fall as new virus cases weigh on demand recovery
03.07.2020

Oil prices fell on Friday, losing earlier gains, as the surge of new coronavirus cases in the United States raised concerns about fuel demand recovery.  Brent crude futures lost 0.7%, or 29 cents, at $42.85 per barrel. U.S. West Texas Intermediate crude futures were down 0.8%, or 31 cents, at $40.34 per barrel.  Both benchmarks […]

Novartis agrees to pay $729 Million U.S. settlement over kickbacks
02.07.2020

Swiss pharmaceutical giant Novartis AG (NVS) has agreed to pay more than $729 Million to settle a lawsuit that accused the company of paying illegal kickbacks to doctors and patients to increase drug sales, the U.S. Department of Justice said on Wednesday. The Swiss drugmaker would pay $678 Million to resolve accusations of hosting thousands […]

Asian stocks jump on vaccine optimism, U.S. payrolls eyed
02.07.2020

Asian shares tracked Wall Street higher on Thursday. This followed even though sentiment was dull ahead of U.S. employment data.  Meanwhile, copper prices recorded six-month highs on a bright global outlook and supply concerns in top producer Chile. All major indexes were seen upbeat on vaccine hopes, driving MSCI’s broadest index of Asia-Pacific shares up […]

Cerberus Management wants Commerzbank to cut 7,000 jobs amid coronavirus pandemic
30.06.2020

Germany’s second-biggest bank, Commerzbank (CBKG.DE), said on Tuesday that the U.S. activist investor Cerberus Capital Management wants them to slash more than 7,000 jobs as a part of its strategic plan to reduce the company’s revenue costs amid the coronavirus pandemic. Cerberus is one of Commerzbank’s largest shareholders with a stake of more than 5%. […]

China’s factory activity strengthens, virus crisis hits exports and recovery
30.06.2020

China’s factory activity grew stronger in June backed by optimism for a quick economic recovery globally. However, struggling export orders indicated that the virus-driven disruptions will continue to cap economic growth longer than expected. The official manufacturing Purchasing Managers’ Index (PMI) was monitored at 50.9 in June. This came larger than the 50.6 reading in […]

Dollar gains as new infections cast doubt on recovery
29.06.2020

The dollar firmed, while risk currencies fell under pressure as investors doubted the economy would recover soon amid a surge in new coronavirus infections around the world. As the United States posted record levels of fresh cases each day, the dollar held on to last week’s gains. Meanwhile, risk currencies Aussie and kiwi fell to […]

Japanese bank sees dim outlook for tourist hub Osaka
29.06.2020

The western Japan prefecture may take two more years to recuperate from the damage of the novel coronavirus crisis. The forecast was rendered by Tetsuya Kan, head of a major regional bank in Osaka, as the pandemic ransacked the city’s once upbeat tourism and retail sectors. “The fate of the region’s economy depends on how […]

FTSE lead European stocks rally as U.K. abandons quarantine plan
26.06.2020

European stocks ended the week on a stronger note, with FTSE shares leading the rally, after European Central Bank (ECB) President Christine Lagarde said that the worst of the pandemic was over. However, Lagarde cautioned that there could still be a possibility of a “severe second wave”. Europe may be set to outperform U.S. markets […]

Worst may be over for virus-beaten British economy: Reuters poll
25.06.2020

Great Britain’s economy was seen dropping at its most rapid pace in centuries. This was mainly from the disruptions brought by the virus crisis on demand. However, it has a high chance of recovering from inactivity next quarter as more businesses resume operations, a Reuters survey showed.   The poll foresees a 17.3% contraction this […]

Spirit AeroSystems shares fall; the company holds discussions with Boeing
24.06.2020

On Tuesday, Spirit AeroSystems Holdings Inc. (SPR.N) shares fell by 13% after its key supplier Boeing Co. (BA.N) revealed that the planemaker significantly reduced its orders for shipment this year. “Boeing indicates in the June 19 letter that the reduction is due to Covid-19’s impact and accumulated inventory of Spirit’s [Boeing 737] products,” the company […]

Asian stocks in rocky trade over U.S.-China trade confusion
23.06.2020

Asian shares were in rocky trade on Tuesday after the confusing statements made by the White House over the U.S.-China trade deal. President Trump also clarified that the pact between the two countries was “fully intact.” S&P 500 e-minis were back in positive territory as the market sentiment rose. MSCI’s broadest index of Asia Pacific […]

NZ central bank to retain rates, dovish view on virus-driven turbulence
22.06.2020

New Zealand’s central bank is expected to keep rates unmoved at its policy meeting on Wednesday. However, it projects a cautious tone as fears of a second wave of COVID-19 infections dampened outlook and increased economic uncertainty. All economists surveyed by Reuters expected the Reserve Bank of New Zealand to maintain the official cash rate […]

European shares gain on the back of recovery fund talks
19.06.2020

European shares traded higher on Friday with Germany’s airline company Lufthansa leading gains on the back of signs on movement in its stalled government bailout. The gains also came ahead of the European Council’s meeting to negotiate the EU recovery fund. The European Council will have its first meeting to discuss a commission’s proposal to […]

Oil prices gain as OPEC+ ensures compliance with output cuts
19.06.2020

Oil prices gained 1% on Friday after OPEC+ producers assured their commitment to the agreed production cuts and two major oil traders said that demand was recovering. Brent crude futures climbed 0.8%, or 35 cents, at $41.86 per barrel. U.S. West Texas Intermediate crude futures were up 1%, or 38 cents, at $39.22 per barrel. […]

U.S. Chamber urges China to accelerate purchases of U.S. goods
18.06.2020

The U.S. Chamber of Commerce on Thursday urged China to increase its purchases of U.S. goods and services as agreed under a Phase 1 trade deal despite delays caused by the COVID-19 pandemic. The Chamber said the pandemic had clearly slowed progress for both governments, but there were reasons to be hopeful. It also welcomed […]

Trump team vows to push for a “broad reset” at the World Trade Organization
18.06.2020

On Wednesday, the Trump administration said that it would push for a broad reset of “outdated tariff determinations” at the World Trade Organization (WTO) to arrange what it sees as years of unfair treatment of the United States. According to the U.S. Trade Representative Robert E. Lighthizer, the Geneva-based body was “a mess” and tariff […]

Global shares decline on virus upsurge
18.06.2020

Asian stocks and Wall Street futures plunged on Thursday as surging coronavirus cases seen in the United States and China dampened market mood. This also underscored a longer recovery period for the global economy. S&P 500 mini futures declined, shedding a total of 1.2% during its early Asian session. MSCI’s broadest index of Asia-Pacific shares […]

Chesapeake Energy prepares for a bankruptcy filing as soon as this week

 
16.06.2020

Chesapeake Energy Corp. (CHK.N) said on Tuesday that it is preparing to file for bankruptcy as soon as this week after the pioneering shale oil driller missed an interest payment worth $10 Million due on Monday. The company’s stock was halted on Tuesday morning and its shares were down by 40%. Oil prices have doubled […]

Chinese factory output grows upbeat, consumers remain wary
15.06.2020

Chinese factories sustained their upbeat performance for another month in May. This followed as the country shook off the economic disruptions brought by the novel coronavirus crisis. However, figures indicated that recuperation would not come easy. Data released on Monday revealed consistent fluctuations in retail sales and investment. This underscored that many sectors were still […]

New Zealand retail sales surge, but still below Pre-Pandemic levels
11.06.2020

Retails spending in New Zealand showed signs of recuperation as figures rose in May. However, these numbers still remain below the usual levels before the pandemic disrupted major economic activities. Debit and credit card purchases on retail outlets hit 78.9% in April, according to Statistics New Zealand released on Wednesday in Wellington. The upbeat figure […]

Dollar strengthen as investors await next Fed meeting
09.06.2020

The U.S. Dollar traded slightly higher in Europe on Tuesday. However, gains were limited as investors awaited the next U.S. Federal Reserve meeting for hints on their next move. The Dollar Index inched up by 0.2% to 96.823 at 3:05 AM ET (0705 GMT), falling over 3% in May. U.S. employment data for May surprised […]

French economy to recover in 2022, Bank of France says
09.06.2020

France is expected to recover in 2022, forecasting that the country’s economy will recuperate from its sharpest post-war recession brought by the novel coronavirus crisis, the central bank said on Tuesday. Europe’s second-largest economy is expected to decline by 10.3% this year. Though it is likely to contract, economic recovery is still possible as the […]

Britain and Japan to begin trade talks, free trade deal targeted
09.06.2020

A post-Brexit trade agreement is now brewing between the former European bloc member Britain and Asia’s second-largest economy Japan in which both sides hope to come up with a free trade deal by the end of this year. After launching its formal negotiations sans-Brexit with the United States last month, Britain is looking to secure […]

NAB upgrades forecasts for Aussie and kiwi
05.06.2020

Forex analysts revised their forecasts for the Australian and New Zealand dollars but were left behind the market that has already exceeded the one-year target. Aussie forecasts were raised to $0.6400 in a month, $0.6450 in three months, and $0.6800 in a year. The Aussie stood at $0.6940 on Friday and gained 4% this week.  […]

Euro firm, dollar weak as ECB expands stimulus
05.06.2020

The euro firmed on Friday after the European Central Bank expanded its stimulus to shore up the economy from recession. The euro’s gains lifted risk appetite for Asian currencies and pushed the dollar index to an almost three-month low. It last stood at 96.808. The ECB raised its emergency bond purchase scheme to 1.35 trillion […]

Asian stocks mixed as U.S.-China tensions mount
05.06.2020

Asian stocks were mixed earlier on Friday, slowing down its months-long rally since March. Hong Kong’s Hang Seng Index rose by 0.12% at 10:38 PM ET (3:38 AM GMT), taking back some lost ground from the previous session. China’s Shanghai Composite climbed up by 0.05%, while the Shenzhen Component lost 0.12%. Investors are keeping an […]

Oil prices fall amid uncertainty over OPEC+ output cuts
05.06.2020

Oil prices fell earlier on Friday, losing a portion of its gains from the previous session. The decline comes amid uncertainty as to whether OPEC will extend its plan to cut output after the month of June. Brent oil futures slid by 0.50% to $39.76 per barrel at 9:53 PM ET (2:53 AM GMT), while […]

UK car sales rise by 90% below normal in May: SMMT
04.06.2020

New car sales in the UK rose in May after it had plummeted in the previous month to a record low since 1946. However, it still remained 90% below the number of sales for May in the previous year according to figures shown by the Society of Motor Manufacturers and Traders (SMMT). According to preliminary […]

Chinese services industry posts first growth since January, job losses persist according to study
03.06.2020

For the first time since January, the services industry of China recorded its growth in May, signaling the start of economic recuperation from stagnation due to lockdown measures implemented amidst the outbreak of the coronavirus. However, job loss figures continued to grow according to a private study. The Caixin/Markit services Purchasing Managers’ Index hiked to […]

SoKor’s consumer prices fluctuate on virus-beaten demand
02.06.2020

May had seen South Korea’s inflation rate dropping below zero for the first time in eight months, data showed on Tuesday. The decline was mainly from the novel coronavirus crisis dragging domestic demand and crude prices. The consumer price index (CPI) fell 0.3% in May from a year earlier, placing below the 0.2% contraction rate […]

European shares gain on hopes of global COVID-19 recovery
01.06.2020

European shares rose on Monday on the back of a global recovery from the COVID-19 outbreak. In addition, investors were relieved after the U.S.’ response to China’s security laws were not as severe as many had predicted. U.S. President Donald Trump had commenced the ending of special treatment for Hong Kong to punish China. However, […]

Yen climbs, dollar falls ahead of Trump’s response to Beijing
29.05.2020

The Japanese yen climbed against major currencies on Friday as investors rushed to safe havens. This came ahead of U.S. President Donald Trump’s press conference on China’s push for the security law in Hong Kong. The dollar fell on the euro and the pound as it heads to a weekly loss against majors. However, the […]

Gold prices gain amid escalating U.S.-China tension
29.05.2020

Gold prices rose on Friday in Asia as tensions escalated between the U.S. and China over Beijing’s national security laws. China had approved to enact the laws in Hong Kong during the National People’s Congress on Thursday. U.S. President Donald Trump said he will reveal Washington’s response on Beijing’s decision later in the day.   […]

New Zealand employment rate records historic drop in April
28.05.2020

New Zealand’s employment rate dropped to its lowest level in April. It declined by 1.7% as the impact of the novel coronavirus and the restrictions it brought on social and economic activity continue to press, the statistics agency said on Thursday. Statistics New Zealand had reported 37,500 jobs filed in April. It fell lower than […]

Asian stocks mixed as U.S-China tensions sour risk sentiment
27.05.2020

Asian stocks were mixed earlier on Wednesday, weighed down by shares in the Greater China region after a second planned protest broke out in Hong Kong during the week. Hong Kong’s Legislative Council will discuss its controversial national anthem bill, which had provoked a new round of protests in the city. The protests first sparked […]

Oil falls on demand concerns, Hong Kong conflict
27.05.2020

Oil prices dropped on Wednesday as investors worried about fuel demand’s slow recovery, while U.S.-China tensions weighed in on the negative market mood. Brent crude futures lost 0.6%, or 21 cents, at $35.96 per barrel. U.S. West Texas Intermediate crude futures slid 0.9%, or 31 cents, at $34.04 per barrel. OPEC and its allies including […]

Japan plans to render large stimulus to minimize virus damage
27.05.2020

A budget draft showed that Japan will render a total of $1.1 trillion stimulus package. The fiscal stimulus will include large volumes of direct and emergency spending aimed at minimizing the economic disruptions brought by the novel coronavirus crisis. The stimulus package worth 117 trillion yen, which includes 33 trillion yen for direct spending and […]

Morgan Stanley raises Brent price forecast due to tighter oil markets
27.05.2020

On Tuesday, American multinational investment bank Morgan Stanley (MS) raised its year-end Brent price forecast to $40 per barrel due to tighter oil markets. The financial services company expects balance in worldwide oil demand and supply as nations ease restrictions amid the coronavirus outbreak and major suppliers cut resources. “We expect demand to rebound to […]

Gold slips as new vaccine bolsters investor sentiment
26.05.2020

Gold prices fell earlier in Asia on Tuesday even after a drop in the Dollar made the yellow metal slightly cheaper for investors with positions in other currencies. Gold futures slid by 0.06% to $1,734.45 per ounce at 12:38 AM ET (5:38 AM GMT). Investors retreated from gold after U.S.-based biotech firm Novavax revealed a […]

Singapore slashes annual GDP forecast on virus-beaten economy
26.05.2020

Singapore’s trade ministry announced on Tuesday that the city-state lowered its gross domestic product outlook for 2020. It had cut its GDP forecast for the third time already as the virus-beaten economy prepares for its steepest recession. Singapore’s GDP is likely to record a -7% to -4% contraction rate, way lower than the initial range […]

Toyota, Nissan, and Honda will resume operations in Mexico after the coronavirus lockdowns
26.05.2020

Japanese car manufacturers Toyota (TM), Nissan (NSANY), and Honda (HMC) announced on Tuesday that they would gradually resume operations in Mexico as the country’s automobile industry reboots are in line with a more extensive economic restart, regardless of high numbers of new coronavirus cases. Mexican officials stated in mid-May that the car manufacturing industry could […]

German tax revenues drop on virus crisis
22.05.2020

Tax revenues of Germany and of the 16 federal states sunk by 23.5% in April. It declined by a total of 39 billion euros ($43 billion) as the coronavirus pandemic ravages the country’s economy, the finance ministry’s monthly report showed on Friday. Europe’s biggest economy is receding further. This appeared to be the worst downturn […]

Macy’s anticipates a $1 billion loss in the first quarter amid the virus outbreak
22.05.2020

The American department store chain Macy’s Inc (M.N) warned on Thursday that it could lose more than $1.11 billion in the first fiscal quarter and sees sales fall at least 45% after the coronavirus outbreak paralyzed its retail operations worldwide. Macy’s has acknowledged that it might emerge a smaller company from the pandemic as it […]

Oil prices gain amid lower crude stocks and production cuts
21.05.2020

Oil prices gained on Thursday to their highest since early March as lower U.S. crude inventories and production cuts eased worries about oversupply. Brent crude futures for July contract rose 1.7%, or 62 cents, at $36.37 per barrel. U.S. West Texas Intermediate crude futures climbed 1.8%, or 61 cents, at $34.10 per barrel.  Both benchmarks […]

Lenovo sales surpass forecast, to soar higher on increasing WFH demand
20.05.2020

Lenovo sales dropped sharply in the fourth quarter as disruptions brought by the coronavirus pandemic continue to ravage the economy. However, its latest profit reading managed to surpass expectations. The company’s net profit declined 64% to $43 million in the first quarter. The figure came out weak but still ahead of the $7.5 million sales […]

Asian shares, oil gain as COVID-19 vaccine trials show positive data
19.05.2020

Asian shares surged and oil prices gained on Tuesday after an early-stage trial for the COVID-19 vaccine showed positive results. MSCI’s broadest index of Asia Pacific shares outside Japan climbed 1.5%. Japan’s Nikkei grew 2%, its highest since March. Hong Kong’s Hang Sang and Australia’s benchmark index both gained 2%. Chinese blue-chip index rose 0.8%, […]

Sony to partner with Microsoft for enhanced imaging chip
19.05.2020

Sony Corp. has partnered with Microsoft Corporation with plans to embed artificial intelligence capabilities into its latest imaging chip. The enhanced chip will have its own built-in processor and memory which allows for video analysis with artificial intelligence. This would be similar to Microsoft’s Azure, but with the use of a faster, simpler, and more […]

Emirates Group considers cutting 30,000 jobs amid the pandemic
18.05.2020

Bloomberg News reported on Sunday that the Emirates Group is considering plans to cut about 30,000 jobs as the operator of the world’s largest long-haul carrier seeks to reduce costs after the pandemic grounded air travel. Emirates Group announced that it would slash the number of employees by about 30% from more than 105,000 at […]

Canada’s Prime Minister Trudeau commits to look for more aid for airlines after Air Canada announces layoffs
18.05.2020

Canada’s Prime Minister Justin Trudeau announced on Saturday that he was committed to looking at possible ways to help airlines that were severely affected by the pandemic. Yet the Canadian prime minister laid out no new measures and remained mum on details. “This pandemic has hit extremely hard on travel industries and on the airlines […]

Oil prices rise more than $1, hit one-month highs
18.05.2020

Oil prices gained over $1 per barrel on Monday, hitting more than a month-high as production cuts and demand recovery provided a floor for the market. Brent crude rose 3.7%, or $1.19, at $33.69 per barrel. U.S. West Texas Intermediate crude climbed 4.3%, or $1.26, at $30.69 per barrel. The WTI June delivery will expire […]

Gold Climbs up Amid Tumultuous U.S.-China Relations
18.05.2020

The Asian Markets saw the safe-haven asset, gold, climbing up thus extending its gains from Friday. This is recorded to be its highest point since October 2012. With the relationship between U.S. and China in dire straits, alongside gloomy investment forecasts, investors turned to the yellow-metal. Peter Navarro, the White House trade advisor, aggravated an […]

European stocks rally as investors cheer China factory data
15.05.2020

European stocks rallied on Friday after investors found comfort in China’s report of an increase in April’s factory activity, exceeding analysts’ forecasts. However, with the simmering trade tensions between the U.S. and China, many speculate that it would lead the shares market to weekly declines. The pan-European STOXX gained 1.4% at 0715 GMT, with travel […]

SoKor to implement tighter measures on surging unemployment amid pandemic
15.05.2020

South Korea’s finance ministry pledged to provide intensive measures to control the recently-monitored hike in unemployment. The agency also emphasized the ever-increasing level of economic risks as local and global demand collapse. Latest records showed that the country’s unemployment rate retained its 3.8% standing in April. However, the employment rate dropped at its most rapid […]

Oil rises on U.S. crude stocks fall, outlook still bleak
14.05.2020

Oil prices rose on Thursday after a sudden fall in U.S. crude stocks. However, further gains were capped amid a gloomy U.S. economic outlook and fears of a second coronavirus wave. Brent crude futures climbed 0.2%, or 6 cents, at $29.25 per barrel. U.S. West Texas Intermediate crude futures gained 0.7%, or 18 cents, at […]

Korean Air plans to sell new shares worth $817 Million to stay afloat
14.05.2020

Korean Air Co. Ltd. (003490.KS), South Korea’s largest airline and flag carrier, plans to sell new shares worth 1 trillion Won ($817 Million) in its biggest rights issue in 20 years. The company came up with self-rescue measures on Wednesday to overcome the liquidity crisis due to the pandemic. Korean Air will issue $79 Million […]

Bloomberg: Nissan restructuring plan includes $2.8 billion-cut
13.05.2020

Nissan Motor Co. is gearing itself into cutting $2.8 billion of its annual fixed costs as part of a restructuring effort. News titan Bloomberg had reported the matter on Wednesday as the company prepares for a sales drop that further compromises its already poor profitability. The past three years had seen Nissan with floundering profits, […]

Richard Branson to sell $25 Million worth of Virgin Galactic shares amid virus outbreak
12.05.2020

Virgin Group’s founder Richard Branson stated on Monday that it would sell $25 Million worth of Virgin Galactic shares to raise funds for the space tourism company as the pandemic threatens to cripple his business empire. “Virgin intends to use any proceeds to support its portfolio of global leisure, holiday and travel businesses that have […]

Japan household spending falls in March as virus-driven disruptions press
08.05.2020

Japan’s household spending declined by 6.0% in March from a year earlier, according to the government data released on Friday, highlighting the deepening impact of the pandemic on the world’s third-biggest economy. The frail reading is expected to prompt policymakers in providing larger volumes of fiscal stimulus to salvage an economy in the brink of […]

Oil steadies as China imports bounce
07.05.2020

Oil prices steadied on Thursday as China’s crude imports bounced, but analysts expect prices to be capped due to oversupply and weak demand. Brent crude climbed 0.1%, or 3 cents, at $29.75 per barrel. U.S. West Texas Intermediate gained 0.2%, or 4 cents, at $24.03 per barrel.  Both contracts were in rocky trade early morning […]

Euro zone will suffer record recession, Commission says
06.05.2020

The euro zone economy will suffer a record 7.7% contraction due to the coronavirus pandemic. Inflation will likely almost disappear, while budget deficits and public debt will increase, according to the European Commission. Inflation rate will slow to 0.2% in 2020 and will increase 1.1% next year, when the euro zone’s economic growth will rise […]

Airbnb will slash 1,900 jobs amid travel slump due to pandemic
06.05.2020

Airbnb Inc. will lay off a quarter of its workforce or almost 1,900 workers on Tuesday, as the travel industry was severely affected due to the pandemic. According to the memo sent by Airbnb’s Chief Executive Officer Brian Chesky, “Airbnb’s business has been hit hard, with revenue this year forecasted to be less than half […]

U.S. SEC eases policy for firms suffering from virus-driven disruptions
05.05.2020

The U.S. Securities and Exchange Commission (SEC) pledged to ease crowdfunding requirements on Thursday. The policy will support smaller businesses in pursuit of meeting their “urgent funding needs” as the disruptions brought by the pandemic press further. According to SEC, the policy seeks to temporarily amend the current crowdfunding setup. Businesses are entitled to the […]

General Electric aviation plans to cut 25% of workforce amid virus outbreak
05.05.2020

General Electric’s (GE.N) aviation unit revealed plans on Monday to slash its workforce by 25% or roughly 13,000 jobs this 2020. It includes voluntary and forced layoffs due to delayed reduction plans for aircraft amid the virus outbreak. “The cuts will be a mix of voluntary departures and layoffs and come after an initial wave […]

Britain’s new car sales slump to record levels amid COVID-19 lockdown
05.05.2020

New cars sales in the United Kingdom fell by nearly 97% in April to the lowest since February 1946. The slump comes as factories and dealerships close down amid the COVID-19 outbreak, preliminary data from an industry body showed. The lockdown measures that have been implemented across Europe since mid-March had restricted travel and crippled […]

Gold prices drop as easing lockdown measures increase investor risk appetite
05.05.2020

Gold prices fell on Tuesday morning in Asia after some countries eased on quarantine measures and reopened their economies. Gold futures slid by 0.52% at $1,704.40 per ounce at 12:37 AM ET (5:37 AM GMT) after Italy and several U.S. states restarted their economies on Monday. Investors flocked to stocks after an increase in risk […]

Stocks decline as U.S.-China tensions resume
04.05.2020

European stock markets and oil prices dropped on Monday as trade war fears re-ignited after a spat between U.S.’ and China’s top officials. European shares were down 2.5%, while U.S. stock futures fell 1%. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 2.5%. U.S. Secretary of State Mike Pompeo said that there was enough […]

Egypt resumes hotel operations for domestic tourists amid virus outbreak
04.05.2020

The Egyptian government announced on Sunday that it will permit hotels to resume operations for local tourists as long as they operate close to 25% capacity until May 31. The hotels must also have a variety of medical strategies and an open clinic with available resident doctors to prepare should threats of the coronavirus surface anew. […]

Carlsberg first-quarter beer sales fell 7%, anticipates further decline in second quarter
30.04.2020

The first-quarter sales of Carlsberg (CARLb.CO) fell by 7% on Thursday. While the Dutch brewing company anticipates further decline in its second-quarter sales due to beer demand in grocery stores, it failed to consider the closure of pubs and diners amid the virus lock down. Earlier this month, Carlsberg postponed support after sales in pubs […]

Lufthansa CEO meets Austrian Chancellor to discuss state deal
29.04.2020

According to an Austrian representative, the Chancellor of Austria Sebastian Kurz and the Chief Executive Officer of Lufthansa Carsten Spohr will meet in Vienna on Wednesday to talk about the necessary state aid rescue package for German flagship carrier, Lufthansa (LHAG.DE). The discussion involves approval of Lufthansa’s state aid from Germany worth 9 billion Euros […]

France tightens restrictions on non-EU foreign ventures
29.04.2020

Finance Minister Bruno Le Maire stated on Wednesday that the France administration will tighten controls on foreign direct investments to protect French companies over strategic industries and bio-tech groups. At present, non-European purchases of stakes in large companies do not need approval from the government if it’s 25% or less. Le Maire announced a lowering […]

Oil prices bounce as storage fills slower than expected
29.04.2020

U.S. oil prices bounced on Wednesday, recovering some of its losses as U.S. reserves filled slower than anticipated. The lockdowns lifted in some European countries and U.S. cities also helped prices recover as the market hoped for a rise in demand. U.S. West Texas Intermediate crude futures rose 15.4%, or $1.90, at $14.24 per barrel, […]

Nissan to cut output in May, sees record operating loss
28.04.2020

Nissan Motor Co. on Tuesday said it is expecting to post its annual operating loss in 11 years. The automaker has been met with challenges as dwindling demand for cars continued due to the COVID-19 pandemic. With the sharp decline in sales, Nissan will cut its output by 78% in May, according to a Reuters […]

Diamond Offshore files for bankruptcy as oil prices crash amid virus outbreak  
27.04.2020

Diamond Offshore Drilling Inc (DO.N), a Houston-based contract drilling company, applied for bankruptcy protection in Texas on Sunday, after it missed an interest payment and disclosed it still enlisted restructuring advisers. In Chapter 11 of the filed document, Diamond stipulated that day rates and demand for its work had “worsened precipitously in recent months,” The […]

Bank of Japan extends monetary easing as virus concerns worsen
27.04.2020

The Bank of Japan has been providing stimulus supports for two months already, with additional support filed on Monday to alleviate corporate funding from financial drag. It was also set to aid government spending aimed at nursing the economic downturn brought by the pandemic. “The BOJ will purchase necessary amounts of government bonds without setting […]

U.S economy faces record-breaking decline, unemployment may surge to 16%
27.04.2020

The inactivity currently faced by the U.S. economy due to the virus pandemic appears to be the sharpest contraction that will likely boost the national unemployment rate by up to 16% or higher. The steep forecast requires large volumes of stimulus to ensure economic recuperation, a White House economist said on Sunday. “This is the […]

Global economy to suffer steepest contraction, U-shaped recovery seen: Reuters study
24.04.2020

A Reuter’s study reported on Friday that the pandemic-driven global economic downturn will record its sharpest fall this year. Meanwhile, a U-shaped economic recovery is also seen to take place based on the analysis of economists across the globe. A group of over 500 economists who took part in Reuter’s poll said that most of […]

Asian stocks drop as U.S. crude plunges on second day
22.04.2020

Asian share markets plunged to two-week lows on Wednesday as crude oil prices collapsed. The market decline underscored the deep economic harm caused by the coronavirus crisis. Investors rushed to the security of government debt as Brent oil futures dropped to a record fall. The oil price decline pushed traders to steer clear of stocks. […]

South Korea pledges new supplementary budget to save jobs
22.04.2020

South Korea President Moon Jae-in said on Wednesday said that the government has pledged to roll out a new supplementary budget as well as increase subsidies in a bid to save businesses in Korea. The fourth-largest economy in Asia had released two supplementary budgets amid the COVID-19 outbreak.      In a policy meeting, Moon said […]

Australia central bank forecasts weak economic activity
21.04.2020

Australia’s economy may contract significantly, according to the minutes of the meeting released by Australia’s central bank on Tuesday. The sharp economic reversal is expected to occur in the latter part of the second quarter and may continue fluctuating up until September due to damages brought by the virus contagion.   The Reserve Bank of […]

Japan exports slump as global demand dwindles
20.04.2020

Japan’s March exports declined the most in four years as demand from China, Europe, and the U.S. fell at the fastest pace since 2011.      Monday’s gloomy data highlighted the pandemic-caused damages on global trade as many prepare for the third-largest economy to reach its biggest drop since the Great Depression.   Japan’s Ministry of […]

Asia shares perform cautiously, U.S. crude declines
20.04.2020

A safe trading session was monitored in Asian share markets on Monday. Investors’ sentiment level was supported by hopes that strong corporate earnings and economic data will minimize the disruptions brought by the pandemic. However, the U.S. crude sunk down to a 20-year low record. According to figures released by Japan, its exports had shed […]

Stocks drop as negative economic forecast weighs
16.04.2020

Global shares declined on Thursday while bonds and the dollar advanced. Stock markets’ underperformance was mainly from weak U.S. retail sales, inactivity in factory production, and a dire outlook for Asian economy. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 2.2%, as a Reuters survey showed that majority of investors are not satisfied with […]

Gold prices fall as virus-led volatility continues
15.04.2020

Gold prices fell on Wednesday in Asian markets as its virus-led volatility drove investor risk sentiment towards other assets. The International Monetary Fund (IMF) stated that the pandemic may lead the global economy to decline by 3% this year, marking it as the biggest drop since the Great Depression.   Gold Futures previously gained nearly […]

Trump slashes WHO funds for pandemic, global death rate increases
15.04.2020

U.S. President Donald Trump on Tuesday reduced the World Health Organization’s funds allocated to the novel coronavirus pandemic. Trump’s decision drew criticism from experts as the global death rate continued to increase. Trump’s emergency measures aimed at minimizing the spread of the virus had been consistently assailed. This has angered the president as he aimed […]

Walmart executive Iannone takes over as EBay CEO

 
14.04.2020

EBay Inc. named Jamie Iannone as its new Chief Executive Officer on Monday. The appointment had been made a month after Starboard Value, owner of more than 1% of eBay’s stock, disclosed plans of designating four directors on eBay’s board of 14 members. Starboard wanted the company to appoint an outsider as its permanent chief […]

Commodity currencies slip as OPEC+ output cuts fail to ease demand concerns
13.04.2020

Commodity currencies fell against their safe-haven counterparts on Monday after a record output cut settled upon by OPEC+ did not ease investor concerns over a declining global demand. The Australian Dollar and the New Zealand Dollar, widely observed as a benchmark for market risk fell against the Greenback. This signaled concern over demand for commodities. […]

Oil prices climb above $1 as OPEC+ settles on record output cut
13.04.2020

Oil prices climbed above $1 per barrel on Monday after a four-day negotiation ended with major producers agreeing on a record output cut. However, gains were limited after investors feared that the move might not be enough to stave off oversupply as the pandemic severely curtailed global demand. OPEC+, which consists of the Organization of […]

BOJ suspends some operations amid COVID-19 pandemic
08.04.2020

The Bank of Japan said on Wednesday that it would temporarily cease select operations. The decision was made in compliance to the government’s pronouncement of putting the country under state of emergency amid the novel coronavirus pandemic. “The BOJ will scale back some of its operations in line with the government’s request to avoid outings,” […]

Oil advances on output cuts possibility
08.04.2020

Oil prices recovered on Monday as optimism grew that OPEC members and allied oil manufacturers will settle a deal on Thursday. The agreement will mandate oil producers to reduce crude production in order to offset suffering prices due to the novel coronavirus. Brent crude LCoc1 inched up by 75 cents, equivalent to 2.4%, and last […]

Gold prices up as slowing COVID-19 cases improves market sentiment
07.04.2020

Gold prices extended gains in Asia on Tuesday after new reports of declining COVID-19 cases improved investor sentiment. This development also led many to anticipate additional global measures to put a floor under a virus-hit economy. Gold Futures gained 1.43% at $1,717.9 per ounce at 9:24 PM ET (2:24 AM GMT) following a 3% surge […]

Oil slides after Saudi-Russia delays meeting
06.04.2020

Oil prices slid on Monday after talks between Saudi Arabia and Russia were postponed, while stocks rose the spread of the coronavirus began to slow down. Brent crude saw a 3-dollar drop in early Asian trade after the meeting set to discuss production cut between Saudi Arabia and Russia had been postponed. US stock futures […]

UK car sales plummet by 40% amid coronavirus pandemic
06.04.2020

Car sales in the United Kingdom saw an annual decline of 40% for March, according to preliminary data released on Monday from the Society for Motor Manufacturers and Traders (SMMT). The drop in sales comes as the COVID-19 pandemic continues to disrupt the economy and force potential buyers to remain indoors. Sales added to only […]

Southwest Airlines will cut 40% of its flights in May amid virus outbreak
06.04.2020

Southwest Airlines Co (LUV.N) will cut 40% of its flights from May 3 to June 5, the carrier said on Monday. The U.S. airline will send 2,000 flights every day, a slash of 1,700 from its usual number, due to the decrease in travel demand amid the coronavirus outbreak. Southwest Airlines recently said that it […]

UK consumer confidence hits lowest level due to coronavirus: GfK
06.04.2020

British consumer confidence declined the sharpest, hitting its largest drop in more than 45 years, the GfK survey showed on Monday. The pessimism was brought by the worldwide economic shutdown aimed at combating the further spread of the deadly respiratory disease. “Our COVID-19 ‘flash report’ shows a dramatic result with consumer confidence falling off the […]

Recession is here: Fed officials say as unemployment claims spike in US
03.04.2020

Fed officials said on Thursday that “recession is here” and the economy’s recovery relies on U.S. government aid and its effectiveness in combating the impact of millions of lost jobs. The Fed added that the duration of the recession was dependent on the course of the pandemic, noting that it could still kill a huge […]

Gold Prices fall as U.S. reports record unemployment claims overnight
03.04.2020

Gold prices fell on Asian markets on Friday after the U.S. released a report of rising unemployment claims. Gold Futures fell by 0.31% at $1,632 per ounce at 9:30 PM ET (2:30 AM GMT), losing gains from the previous trading session. The United States said on Thursday that a record 6.648 million people had filed […]

Oil futures decline as Trump refuses to cut oil outputs
03.04.2020

MELBOURNE- Oil prices inched down on Friday, erasing some gains it initially acquired from its last session. Poor market activity was mainly from the output reduction deal that U.S. President Donald Trump signed with Saudi Arabia and Russia. However, the president showed no intention of cutting U.S. oil outputs. Brent crude futures shed 9 cents, […]

China removes restrictions on car purchases to increase sales
02.04.2020

In select regions, China had removed limitations placed on buying cars to render sales from the sector stable. Moreover, the country is expediting plans to herd old cars into retirement, China’s Ministry of Commerce had disclosed on Thursday.  Major automakers like Toyota, General Motors (GM), and BMW have reopened its factories in the country the […]

Apple donates 10 Million masks to China amid virus outbreak
01.04.2020

SHANGHAI – Apple has sourced and procured 10 Million masks to donate them to the medical community of China amid the coronavirus outbreak. CEO Tim Cook said that Apple resumed its operations and reopened its 42 stores in China. The Apple stores had been closed in the early weeks of February as China restricted travel […]

Samsung Display to end all LCD production in South Korea and China by end 2020
31.03.2020

South Korean screen manufacturer, Samsung Display said on Tuesday that it would be halting all production of LCD panels in South Korea and China by the end of 2020. The company is doing this in order to produce more advanced screen panels, according to its spokesperson. The extension of tech giant Samsung Electronics Co Ltd […]

New Zealand central bank increases liquidity for businesses
30.03.2020

The Reserve Bank of New Zealand (RBNZ) disclosed its decision of utilizing more instruments to increase the liquidity of business sector and to aid market activities in order to minimize disruptions brought by the novel coronavirus. RBNZ released pronouncement which implements Open Market Operation (OMO). Implementation of such will be every Tuesday and is expected […]

Dollar, yen gain as investors turn to safety amid pandemic
30.03.2020

The dollar broke a week of declines as the Japanese yen climbed on Monday, while restrictions around the world intensified and markets remained scrambling. The dollar rose against the euro, pound, Australian dollar, and New Zealand dollar. The euro was down 0.5%, at $1.1082; the pound fell 0.7%, at $1.2371; and the Australian dollar last […]

Dollar slips as markets brace for  unemployment claims surge
26.03.2020

The dollar plunged against the Japanese yen on Thursday before the release of data expected to increase claims for unemployment benefits in the US. Several American firms lay off employees due to the persisting virus outbreak. The pound fell against the euro and the dollar as the market remained wary of Britain’s ill-preparedness for a […]

Singapore prepares for recession as virus-hit economy drops in first quarter
26.03.2020

Singapore’s economy contracted by 2.2% in the first quarter from a year earlier according to preliminary data released on Thursday. The decline went at the sharpest pace since the 2009 financial crisis which led the city-state to prepare for a recession. The data will likely dull business outlook and pile on fears that a fast-declining […]

Oil soars as US stimulus relieves heavy market sentiment
25.03.2020

SINGAPORE- Oil prices continued its positive performance for third day on Wednesday. Crude rode bullish tide together with other financial markets on optimism that the U.S. Federal Reserve will soon implement large volume of stimulus package to minimize the economic impact of the coronavirus contagion. US West Texas Intermediate CLc1 was at $25.24 per barrel […]

Asian shares follow Wall Street gains as U.S. stimulus brings new hopes
25.03.2020

Asian shares continued to rally on Wednesday with Wall Street recovering from major losses as U.S. Congress drew near to rolling out a $2 trillion stimulus package in a response to aid a virus-hit economy. MSCI’s broadest index of Pacific Asia outside of Japan advanced by 1.7%. Meanwhile, Japan’s Nikkei soared by 4.8%.  Shares in […]

Dollar suffers as Fed’s money easing affects fiat supply
24.03.2020

The dollar traded red on Tuesday on signals that secured funding conditions are easing slightly after the U.S. Federal Reserve decided to give bottomless quantitative easing to offset and ensure greenback liquidity. The dollar index =USD shed 0.5% to 101.64. It strayed farther from Friday’s upbeat performance of 102.99, its strongest session since January 2017. […]

Oil prices gain as investors pin hope on US economic stimulus package
24.03.2020

Oil prices gained on Tuesday as investors hope for a fast approval regarding the U.S. lawmakers’ proposed $2 trillion coronavirus aid package. The aid package is expected to ease the pandemic’s impact on the global economy, while underpinning oil demand. Brent crude oil futures was up 2.3%, or 62 cents, at $27.65 per barrel. West […]

Futures decline again as coronavirus spread stirs contraction fears
23.03.2020

The U.S. stock index futures fell on Monday as fears of economic damage grew in the markets due to various national lockdowns in an attempt to contain the pandemic.  Goldman Sachs predicted a 24% decline in US real GDP in the second quarter. In early morning trade, the Dow e-minis dropped 3.64%, or 694 points; […]

Singapore Airlines to reduce most of its fleet as coronavirus creates “greatest challenge”
23.03.2020

Singapore Airlines Ltd (SIAL.SI) will decrease capacity by 96% and land almost all of its fleet, the carrier said on Monday, in reaction to the coronavirus travel restrictions it called the “greatest challenge” it had ever faced. The expedient comes as international travel capital Singapore closed borders to tourists and transiting passengers in a bid […]

Stocks suffer as countries stop business operations to contain virus
23.03.2020

SYDNEY- Asian shares dropped on Monday as series of national lockdowns endanger authorities’ schemes of nursing economic disruptions and what appears to be a sharp worldwide recession brought by the novel coronavirus. S&P 500 E-mini futures sunk down 5% while the EUROSTOXXX 50 futures plummeted 6.4%. MSCI”s broadest index of Asia-Pacific shares shed 3.8% as […]

World economy suffers in recession due to COVID-19 havoc- economists
20.03.2020

The world economy is currently deep in recession as economic disruptions brought by novel coronavirus reached a larger scale, according to economic analysts. The fast-paced contagion of the virus dragged financial markets down even with the implementation of stimulus by central banks across European, American, Asian, and Australian zone. The stimulus was proven to be […]

Dollar slips but nears best week since 2008 financial crisis
20.03.2020

The dollar neared its biggest gain in a week since the 2008 global financial crisis, even with a weakened rally, as the pandemic drove investors to cash and damaged the world’s financial plumbing. The dollar hiked 3.7% against a basket of currencies as investors sold stocks, commodities, bonds, and gold in exchange for cash. The […]

Shares slide as Airbus halts operations in France and Spain
17.03.2020

Airbus (AIR.PA) made its plans on suspending production in France and Spain for 4 days public. This is of course due to the coronavirus crisis that had reached even the financial sector.   To date, the pandemic had been the most serious across-the-board disruption in the company’s operations. In 1989, a strike at its British […]

Markets hit record lows, recession fears loom as global economy scrambles amid COVID-19
17.03.2020

U.S. stocks suffer historic drop as the country shuts its borders and governments worldwide impose drastic measures to contain the virus and the damages it has caused. Financial markets experienced their worst day in 30 years despite the emergency measures by central banks in an attempt to avoid a recession. US stock markets fell 12% […]

US Factories prioritize in-demand products to resupply supermarkets amid virus outbreak
16.03.2020

The U.S. consumer product companies shifted their production scheme by halting the run of other products and maximizing the production of essential products that are highly demanded amid the virus outbreak. Traditional retailers and stores have warned against hoarding supplies including toilet paper, cleaning items, and sanitizing products that cause scarcity of supply in the […]

Stocks roil as Fed, central banks implement measures to rescue global economy
16.03.2020

Stock markets and the U.S. dollar reeled on Monday as the Federal Reserve cut interest rates as an emergency measure and as other central banks offered cheap dollars in an attempt to avoid a halt in lending markets globally. The sudden policy measures were issued to ease the pandemic’s impact on global economy as more […]

Filipino diplomat is the first coronavirus at U.N. New York
13.03.2020

A female diplomat in New York has tested positive for coronavirus on Thursday. She is from the Philippines and the first known case of coronavirus at U.N. New York headquarters. “As of today, the Philippine Mission is in lockdown, and all personnel are instructed to self-quarantine and to seek medical attention should they develop the […]

Japan hints at large-scale spending package in a “bold” step to combat virus
13.03.2020

Japan pledged to take “bold and unprecedented” measures in order to combat the economic impact of the coronavirus, according to its economy minister. The statement has led many to believe the Japanese government would unveil a large-scale stimulus package in the future as a move to fight off a recession. Any fiscal package would gain […]

Alain Bellemare steps down as Bombardier’s CEO
12.03.2020

Bombardier Inc. (BBD.B), Canada’s multinational manufacturer of business jets, announced that Chief Executive Officer Alain M. Bellemare has been ousted and will be replaced by the former Hydro-Quebec CEO Eric Martel. In 2015, Bellemare was appointed as CEO and president. He directed the company through its biggest trials and criticisms. This includes the bankruptcy issue […]

Rio Tinto Ltd to pay for ex-CEO Sam Walsh deferred pay
12.03.2020

AUSTRALIA – Rio Tinto Ltd agreed to disburse former CEO Sam Walsh’s pay as a part of his deferred bonus after finding a resolution to their dispute on Thursday. Rio Tinto’s board and Walsh settled to delay incentive payments in 2017 while investigations were being made in the United Kingdom. This is because of the […]

US stock futures fall, market frustrated with Trump’s surprise pandemic measures
12.03.2020

U.S. stock index futures slid on Thursday, nearly hitting its daily down limit following gloomy market response to U.S. President Trump’s announcement regarding measures against the coronavirus pandemic. S&P 500 slid down to 4.7%, to 2,610 points, almost reaching its daily down limit at 2,601 points. Chief market strategist Quincy Krosby at Prudential Financial in […]

Coronavirus strikes more fears over U.S. auto sales, production remains stable
12.03.2020

Despite top U.S. automakers executives assuring an undisrupted factory production, fears of a slowdown in sales growth of the car industry in the United States is a recurring theme among forecasts of economic analysts. The big three automakers in the U.S., General Motors Co, Ford Motor Co, and Fiat Automobiles NV reported a continuous, undisrupted […]

Oil drops as US enforces travel ban from Europe amid pandemic
12.03.2020

Oil prices fell on Thursday alongside major markets as U.S. President Donald Trump implemented a travel ban on Europe, after the World Health Organization declared the ICOVID-19 outbreak as a pandemic. Investor worries were doubled by an overflow of cheap supply threatening the market after Saudi Arabia assured an increase in oil production to record […]

Taiwan unveils plans to stabilize stock market amid growing virus concerns
11.03.2020

Taiwanese financial authorities said on Wednesday that it had prepared a plan to reinforce the country’s stock market and was considering banning traders from short-selling of positions under specific circumstances. The plan was revealed a few days after its equities board observed the largest single-day outflow since the financial crisis in 2008. Foreign investors on […]

Yen and euro climb as investors turn to safe currencies amid coronavirus fears
09.03.2020

The Japanese Yen and the Euro climbed after U.S. treasury yields fell and export-sensitive currencies declined to multi-year lows on Monday, as caused by intensifying virus risks. The Yen climbed over 3% to a day high of $101.69. The Euro soared over 1.4%, to a near two-year high of 1.1452 against the Dollar. The Australian […]

Oil drops 25% after Saudi Arabia cuts prices
09.03.2020

Oil prices dropped nearly 25% on Monday, on its way to its steepest loss since 1991 as Saudi Arabia cut prices and planned for a big hike in crude output by April. Prices were down 31% after Saudi started a price war with Russia, which stopped from implementing further supply cuts agreed by OPEC in […]

Bank of Japan to ease monetary policy in March, survey says
06.03.2020

Japan is set to lessen monetary policy this month, following sudden measures implemented by the Federal Reserve, as the virus outbreak threatens an economic recession. In a survey, 33 out of 38 economists anticipated an expansion on monetary stimulus by the Bank of Japan. Policymakers globally have been pressured to implement fiscal and monetary measures […]

Demand worries, oil reduction ambiguity drag oil prices
06.03.2020

SINGAPORE- Oil fell flat on Friday as crude demand concerns brought by the fast-paced coronavirus contagion were intensified by ambiguity over non-OPEC oil manufacturers still not reaching an agreement for oil cuts to aid prices. Brent crude LCOc1 erased 47 cents, equivalent to 0.9%, and was last quoted at $49.52 a barrel at exactly 0223 […]

U.S. economy expanded amid first wave of virus impact, Fed says
05.03.2020

The Federal Reserve released a report on Wednesday claiming that the U.S. economy expanded at a moderate rate in the first weeks of the year, with the study conducted during the incipient rollout of the setbacks in the markets brought by the outbreak of the new coronavirus. “There were indications that the coronavirus was negatively […]

Asian demand for jet fuel expected to extend as virus outbreak impacts global aviation
04.03.2020

Jet fuel refinery margins have come under pressure due to the suspension of flights globally over the coronavirus outbreak. However, it may be even more beaten up in coming months as more passengers cancel their flights. The Asian jet fuel market has endured unexpected losses this year which prompted global airlines to suspend flights and […]

Oil advances as stimulus optimism, expected oil reduction counter virus impact
03.03.2020

SEOUL- Oil prices soared for a second day on Tuesday as investors grew enthusiastic on expectations that central banks will implement financial stimulus to equalize the impact of coronavirus contagion. In line with this, markets grew upbeat on the hopes that OPEC will impose deeper output reduction. Brent crude LCOc1 increased up to $1.48 a […]

Wall Street shrugs off virus concerns as tech and financial markets surge
02.03.2020

Wall Street shrugs off virus concerns as tech and financial markets surge Wall Street shrugged off virus concerns and started on a bullish Monday with tech and financial markets taking the lead. The S&P 500 index as well as the Dow Jones Industrial Average rose to its highest by 4.6% and 5.1% respectively. The Nasdaq […]

India’s housing market seen to face difficulties in 2020
02.03.2020

India’s housing market seen to face difficulties in 2020 Market experts have predicted India’s housing market to face difficulties in the year as sluggish demand and a dull market sentiment may overwhelm government measures to bolster the country’s economy. Housing prices rose to its weakest 5.7% on average in 2018 with an underperforming market from […]

Japanese stocks decline as global central bank action accelerates global equities
02.03.2020

Japanese stocks decline as global central bank action accelerates global equities Japanese stocks declined with U.S. futures surrendering gains on Tuesday after a wave of interest on central banks taking action to bolster the economy resulted in an acceleration of global equities. The Australian Dollar rose despite the country’s central bank slashing its benchmark rate […]

Hyundai Motor suspends factory operations as worker acquires coronavirus
28.02.2020

Hyundai Motor closed its factory in South Korea on Friday after one of its workers was confirmed to be infected by the novel coronavirus. The factory operations are suspended indefinitely with popular car models including Palisade sport utility vehicle production being disrupted. After the news broke, Hyundai Motor’s shares in the stock markets slid 5%. […]

World braces for nCoV pandemic; wide recession speculation
28.02.2020

BEIJING- Optimism that the coronavirus contagion would be contained in China disappeared on Friday as the disease reached wider scope, hitting other nations. To prepare for a worldwide pandemic, countries started hoarding medical equipment and investors sought safety on the possibility that a global recession may occur. Shares fell flat and were heading towards its […]

China’s CATL to raise $2.85 billion to fund battery projects
27.02.2020

China’s CATL to raise $2.85 billion to fund battery projects China’s leading vehicle battery manufacturer CATL said that it would be raising over 20 billion Yuan ($2.85 billion) in order to fund its battery production and storage projects. According to a Wednesday filing to the Shenzhen stock exchange, the company will aid in expanding its […]

New Zealand business sentiment drops amid coronavirus concerns
27.02.2020

New Zealand’s business outlook in January had dropped as the coronavirus outbreak in China and abroad piled on concerns over global economic growth, according to an ANZ Bank survey on Thursday. The survey showed that a net 19.4% of participants had expected the economy to stagnate during the current year in contrast to the 13.2% […]

Disney CEO Bob Iger steps down, new Bob takes over as chief executive
26.02.2020

Walt Disney announced on Tuesday that Bob Iger is stepping down as chief executive officer, with Bob Chapek taking the helm of the operations of the giant studio. However, Bob Igers will remain to hold a special leadership role taking on the company’s creative division as its executive chairman. He will be with Disney until […]

Samsung appoints former finance minister Bahk Jae-wan as new board chairman
21.02.2020

Samsung appoints former finance minister Bahk Jae-wan as new board chairman Samsung Electronics said on Friday that former finance minister Bahk Jae-wan had been appointed as the tech giant’s new board chairman after his predecessor was imprisoned for union-busting activities. Bahk had been serving in the company since 2016 and has been deemed by Samsung […]

Yen drops as virus risks lessen, yuan eases after rate cut
20.02.2020

The Japanese yen dropped to a near nine-month low against the dollar as investors recover gain appetite, hoping that China can reduce the impact of the virus outbreak. The yuan was down in onshore trade against the dollar after China cut benchmark loan prime rate to support its economy. The AUD dropped to its lowest […]

Dollar favoured safe haven over yen amid virus fallout
20.02.2020

Investors preferred the dollar as safe haven as the yen suffered a sudden drop, causing investors to dodge local assets. Most currencies, from the Australian dollar to the Indian rupee were troubled as the virus’ impact caused investors to seek the dollar. China reported fewer new infections on Thursday. However, scientists warn that the virus […]

Oil advances on supply concerns, demand worries alleviate
20.02.2020

Oil clocked in an estimated 1% gains on Thursday, continuing its upward movement from Wednesday as the market was dampened by supply sentiments. In line with this, demand concerns were minimized following a big decline in new novel coronavirus diagnosis at Hubei province in China. Disputes in Libya which led to port and oilfields restrictions […]

Hang Seng and Nikkei underperform after Apple’s revenue warning
18.02.2020

Asian markets fell on Tuesday following the news of Hong Kong and Japan’s Apple stocks were declining sharply after the tech giant issued a revenue warning. The Hang Seng Index and South Korea’s KOSPI dropped by 1.3% by 10:45 PM ET (02:45 GMT), while Japan’s Nikkei lost 1.6%.   In China, the Shanghai Composite and […]

Euro underperforms on frail market sentiment, Aussie dollar suffers on data forecast
18.02.2020

TOKYO- The euro declined and on track towards three-year low against the dollar. Such inactivity was recorded ahead of the highly anticipated German poll to be released on Tuesday. The said survey is expected to reveal large setback in investor sentiment and trigger pessimism on European economic forecast.                 Financial markets resorted to tight ranges […]

HSBC reports 2019 annual profit, falls 33% short of forecasts
18.02.2020

HSBC Holdings PLC posted its annual profit on Tuesday, showing a 33% decline and falling below analyst forecasts. The decline was caused by a $7.3 billion goodwill impairment linked to its commercial banking and investment banking businesses in Europe. HSBC reported a $13.35 billion profit before tax for 2019, compared to $19.89 billion the previous […]

Oil declines as novel coronavirus anxiety lurks
18.02.2020

SINGAPORE- Oil prices sunk down on Tuesday as novel coronavirus concerns weighed on the economy directly dragging oil demand in China, the world’s second-largest crude importer. In line with this, financial markets continue to record series of losses.                 Brent crude LCOc1 shed 37 cents, equivalent to 0.6%, to $57.30 per barrel by 0126 GMT. […]

Oil sinks ahead of data disclosing nCoV impact on demand
17.02.2020

SINGAPORE- Oil prices underperformed as investors await for Asian economic records that will state the implications of the 2019 novel coronavirus contagion on oil demand in China, world’s second-largest oil importer.  The said data is set to be released this week. Brent crude LCOc1 shed 33 cents, and last stood at $56.99 per barrel by […]

Financial menace hounds British markets amid Brexit transition
14.02.2020

The British government, particularly its financial sector, is hounded by a chain of threats after exiting the European bloc at the end of January. The finance minister’s subtle resignation is the latest addition to the British market’s compounding problems. Exchequer Chancellor Sajid Javid resigned on Thursday, with British Prime Minister Boris Johnson appointing Rishi Sunak […]

Japanese policymakers prepare for Q4 GDP decline and virus risks
14.02.2020

Japan’s policymakers prepare for a decline in GDP growth and the virus’ impact on consumption and production, warning of poor economic outlook. Executive Director Eiji Maeda of the Bank of Japan warned that weak export demands and low consumption may have hurt 2019’s final quarter GDP. Economy Minister Yasutoshi Nishimura said that the virus outbreak […]

Dollar retreats from four-month highs as market recovers risk appetite
12.02.2020

The U.S. dollar pulls back from a four-month high against the Euro as appetite for risk currencies improved after the weeklong rally when investors feared the virus outbreak. Nasdaq and S&P 500 indexes gained new highs as a top Chinese health adviser said that the outbreak might be peaking. The coronavirus spread in China could […]

Asian shares inch higher as threats of coronavirus recede
12.02.2020

Asian shares inch higher as threats of coronavirus recede Asian shares inched higher on Wednesday amid news of the receding threat of the coronavirus in China. However, uncertainty about the economic impact of the outbreak still kept investors cautious. MSCI’s broadest index of Asia-Pacific shares outside Japan moved up by 0.31%. Chinese shares fell 0.12%, […]

Dollar and yen gain as virus worries affect market mood
11.02.2020

The dollar and Yen, as well as US and Japanese bonds, gained as investors seek for safe havens amid coronavirus concerns. The World Health Organization said that cases of infected people who haven’t been to China might be the start of something bigger. Coronavirus death toll is already at 1,016 in mainland China. Meanwhile, the […]

Apple’s iPhone maker Foxconn reopens China plants amid virus outbreak
11.02.2020

Apple’s iPhone maker Foxconn reopens China plants amid virus outbreak Apple Inc’s main iPhone maker Foxconn was given the signal to reopen two of its major plants in China despite the severe situation of the coronavirus outbreak in the country. According to sources, Apple Inc aims to resume production even though only 10% of its […]

Ford changes management amid earnings struggle, appoints new COO
10.02.2020

Three days after posting dismaying profit figures and earnings outlook, Ford replaces Joe Hinrichs, appointing Jim Farley as the new chief operating officer. Joe Hinrichs, who came from General Motors, served Ford for 19 years.  He was the president of new businesses, technology, and strategy department before getting appointed as the COO. “Jim Farley is […]

Dollar peaks on strong US jobs stats and global virus concerns
10.02.2020

SINGAPORE- The dollar clocked in gains on Monday after positive jobs statistics indicated that US economy is strengthening. In line with this, weeks-long concerns of coronavirus contagion kept trade-exposed currencies neutral. Figures released on Friday disclosed that US jobs growth increased last month, completely surpassing previous forecasts, with laudable progress and growth in construction sector- […]

Toyota suspends production at China plants amid virus outbreak
07.02.2020

Toyota suspends production at China plants amid virus outbreak Toyota Motor Corp on Friday said that it would be suspending its production plants located in China as the spread of the coronavirus throughout the country continues to pick up pace. The automaker said that it may resume production after Sunday, February 16. However, it said […]

Bank of Canada says virus outbreak could worsen already shaky Canadian, global economy
06.02.2020

The 2019 coronavirus outbreak has interrupted economic activities and production on a global scale after infecting thousands of people in China. A continued interruption of supply chains even might cost a lot of problems to the economy of Canada and the rest of the world, according to an official of A Canadian bank on Wednesday. […]

Dollar holds against the Yen amid growing virus risks
05.02.2020

Dollar holds against the Yen amid growing virus risks The U.S. Dollar held its ground against the Japanese Yen on Wednesday amid the ever-growing risks of the coronavirus heavily impacting the global growth of the economy. The Yen had seen its worst session in a near six months while the Dow Jones stock index ended […]

Reserve Bank of Australia keeps rate unchanged, sustains outlook level despite plagues
04.02.2020

The Reserve Bank of Australia (RBA) kept its cash rate unchanged after holding its first meeting of 2020 on Tuesday. It also remained optimistic despite the ongoing plagues experienced locally and worldwide in bushfires and virus outbreak, seeing great possibilities of monetary easing. The central bank of Australia was seen cutting its rate thrice in […]

Piling virus concerns drive oil markets into bearish territory, OPEC+ calls urgent meeting
04.02.2020

Piling virus concerns drive oil markets into bearish territory, OPEC+ calls urgent meeting Oil prices fell at nearly $50 a barrel as concerns on the coronavirus drove it into a bearish market. On Tuesday, OPEC called for an urgent meeting with its allies in order to measure the impact of the virus on global demand. […]

Yuan and Aussie Dollar readies itself for vulnerability ahead of China market re-opening
03.02.2020

Yuan and Aussie Dollar readies itself for vulnerability ahead of China market re-opening The China’s Yuan and its proxy, the Australian Dollar had readied itself for a vulnerable trading day on Monday as global authorities employed drastic steps to contain the spread of the coronavirus. Many had focused on how China’s financial markets would manage […]

Oil continues decline as virus outbreak hits China demand
03.02.2020

Oil prices continued losses due to lower demand in China in the face of the virus outbreak. China is the world’s largest oil importer. US West Texas Intermediate (WTI) and Brent crude slid for the fourth straight week after international airlines canceled flights to China. Supply chains in China have also been disrupted, causing its […]

China trade agency to aid firms by issuing force majeure certificates due to coronavirus spread
31.01.2020

Amid the outbreak of the new Coronavirus in China, a Chinese international trade promotion agency offered help to companies who are struggling to cope with their business partners abroad by issuing them force majeure certificates. The China Council for the Promotion of International Trade (CCPIT) announced its offer on Thursday along with the updated death […]

Asian stocks fall to 7-week low as China virus fears dampen demand
30.01.2020

Asian stocks fall to 7-week low as China virus fears dampen demand Asian stocks and currencies performed poorly on Thursday as the death toll from the China virus rose. Confirmed cases across the around the world also dampened demands. Federal Reserve Chairman Jerome Powell on Wednesday acknowledged on Wednesday the risks of the virus’ impact […]

CalTech wins $1.1 billion patent case against Apple, Broadcom
30.01.2020

The California Institute of Technology (CalTech) won $1.1 billion jury verdict patent case against Apple and Broadcom. The case was filed in 2016 in the federal court of Los Angeles. CalTech alleged Broadcom from infringing patents linked to data transmission technology and used it in their wi-fi chips that were sold to Apple. “While we […]

Oil suffers as virus death rate increases, US stocks soar
30.01.2020

TOKYO- Oil prices sunk down on Thursday as the growing statistics of coronavirus victim reached 170 and more airlines canceled operations to China’s major cities. Market inactivity was dragged down further due to advancing US crude inventories. Brent crude LCOc1 lost 35 cents, or equivalent to 0.6%, at $59.46 per barrel by 0225 GMT. Such […]

Yen earns, yuan slides as coronavirus fears spread amid increasing death toll
27.01.2020

The Japanese yen soared and the Chinese yuan slipped in offshore trade as death toll on the new coronavirus outbreak in China rose to 80. Global worries echo on containing the virus while governments prioritize risk aversion. The yen peaked at its highest in three weeks against the dollar, as investors seek the “safe haven” […]

Coronavirus to hit Singapore economy, trade minister says
27.01.2020

Singapore’s economy will be badly hit by the spreading new Coronavirus which started in China at the end of 2019 and has spread to the city-state, said the trade minister on Monday. Considered as of the Southeast Asian go-to destination of travelers worldwide, Singapore tallied its lowest growth rate in 10 years last year at […]

Oil prices flat as coronavirus threat drags
24.01.2020

Oil prices were stable on Friday but are expected to sink lower with an estimated 5% loss for the week. Such was brought by emerging concern that fuel demand may weaken as the coronavirus that originated from Wuhan City of China that has resulted to death of 25, may impact travel and drag the economy. […]

Malaysia to purchase more sugar from India to resolve dispute
23.01.2020

Malaysia’s leading sugar producer disclosed its plan of purchasing higher volume of sugar from India, with sources saying that the scheme is an attempt to resolve its ongoing feud with New Delhi over palm oil exports.   MSM Malaysia Holdings Berhad (MSMH.KL) is set to purchase 130,000 tonnes of raw sugar from New Delhi worth […]

Yen rises, yuan sinks over China virus anxiety; Aussie gains on strong data
23.01.2020

The Japanese Yen advanced and Chinese Yuan plummeted on Thursday, as traders remained cautious on China’s Coronavirus. The Australian Dollar recuperated from previous inactivity over strong employment statistics. The Safe-haven Yen increased by 0.2%, closing its session with two-week high record of 105.56 per dollar. Yuan underperformed as dollar recorded its strongest activity in two […]

Oil prices fall as market surplus estimate eases Libya worries
22.01.2020

Oil prices decline on Wednesday as the International Energy Agency (IEA) predict surplus in the first half, easing concerns on the decreased Libya crude output. Brent crude declined 0.4%, or 24 cents, at $64.35 a barrel at 0309 GMT. US oil CLcl dropped 0.5%, or 29 cents, at $58.09 a barrel. Fatih Birol, head of […]

China stocks slip as virus outbreak raises trader concerns
22.01.2020

China stocks slip as virus outbreak raises trader concerns Asian stock markets rebounded on Wednesday as China’s response to a virus outbreak fanned fears of a global pandemic. Shanghai shares dipped amid worries that impact would dampen domestic demand and tourism. Fears of contagion, especially as millions of people travel abroad for the Lunar New […]

Yuan, Aussie dollar suffer from coronavirus concerns
22.01.2020

TOKYO- The yuan sunk down and Australian dollar recorded a six consecutive weeks of decline on Wednesday as investors grew wary that the new strain of virus in China would lead to a slower economy. The coronavirus has already reached Beijing and Shanghai as the number of patients diagnosed with such continues to bloat. The […]

Dollar softens as Beijing and Washington sign Phase 1 trade deal
16.01.2020

Dollar softens as Beijing and Washington sign Phase 1 trade deal The U.S. Dollar stood its ground to the riskier Asian currencies on Thursday as a signed Phase 1 trade deal between Beijing and Washington showed optimism for investors. The centerpiece of the deal was a pledge by China to purchase at least an additional […]

China rare earth exports recover as Lunar New Year nears
14.01.2020

Rare earth exports from China recovered from a four-and-a-half-year low in December, as buyers increased purchases more than a week before the Chinese Lunar New Year holiday. But yearly shipments declined to the lowest in four years as rare earth exports were hit by weakened global manufacturing demand. Rare earths, or the group of 17 […]

Uniqlo’s operator trims earnings outlook by 11%
10.01.2020

Uniqlo’s operator trims earnings outlook by 11% Japan’s fashion retail giant, Fast Retailing Co., otherwise known as Uniqlo’s operator said that it would lower its full-year outlook on earnings by 11%. The company’s shares dropped 3.12% in Tokyo on Friday morning following the news. Fast Retailing Co.’s overseas sales were hurt by the ongoing civil […]

Facebook feeds minor changes in ad policy ahead of US elections in Nov.
10.01.2020

Facebook announced on Thursday minor changes to its ad policy to address political ads that will be popping up on users’ news feeds as soon as the campaign period goes full blast for the US Presidential elections in November this year. The social media giant made minor adjustments to its existing ad policies to address […]

Tesla’s market cap outvalues GM and Ford combined
09.01.2020

Tesla’s stock climbed by almost 5% on Wednesday, with a closing price of a record high $492.14 per share, raising its market capitalization to nearly $89 billion, which is $2 billion bigger than General Motors’ and Ford’s market caps combined. General Motors’ market capitalization is currently at $50 billion, while Ford’s is at $37 billion. […]

Safe haven currencies retreat following easing U.S.-Iran tensions
09.01.2020

Safe haven currencies retreat following easing U.S.-Iran tensions The Japanese Yen and Swiss Franc retreated on Thursday as the United States and Iran backed away from further conflict. U.S. President Donald Trump responded overnight to an Iranian attack on U.S. forces with sanctions, not violence. Iran showed no imminent signals that it would retaliate further […]

Facebook’s Libra has failed in its current form; Swiss president
31.12.2019

Facebook’s Libra has failed in its current form; Swiss president Facebook’s cryptocurrency project, the Libra has failed in its current form and would need revisions in order for it to be approved, according to Switzerland’s president and finance minister Ueli Maurer. Switzerland is currently where Libra is seeking regulatory consent. “I don’t think (Libra, in […]

Thailand annual headline inflation rate escalates swiftly to 0.9%
27.12.2019

Reuter’s poll on Friday revealed Thailand’s swift escalation of its annual headline inflation rate for the month of December. However, the rate is still below the central bank’s target for the seventh consecutive month. The headline consumer price index (CPI) is predict5ed to go up by 0.9% in December from the previous year after a […]

Trade optimism supports dollar vs. yen, Australian dollar hikes up
27.12.2019

SYDNEY-The dollar inched closer to its six-month high against the Japanese yen as the Australian dollar hit its strongest session since July last Friday, brought heavily by upbeat signals about Sino-US trade deal.                 Positive headlines about the possibility of trade signing decreased demand for safe-haven currencies such as yen. However, with holiday season still […]

South Korean exports struggle but demands from China bring hopes
23.12.2019

SEOUL- South Korean exports recorded weak data in the first 20 days of December but strong demands from China and firm chip prices indicated that year-long loss may come to conclusion soon.                 Exports of Asia’s fourth biggest economy declined 2.0% from December 1 to 20, according to customs records disclosed on Monday. Such was […]

Thailand’s November exports fall 7.39% year-on-year
23.12.2019

Thailand’s November exports fall 7.39% year-on-year Thailand’s duty-free exports in November fell 7.39% from a year earlier after it had fell 4.54% in the previous month, according to the commerce ministry on Monday. Shipments to China roose 2.3% in November from a year earlier while shipments to the United States dropped 2.6%. November imports contracted […]

Nike quarterly revenue surges, North America sales hit lower-than-expected
20.12.2019

Nike Inc.’s quarterly revenue and profit figures went beyond Wall Street expectations on Thursday capped by surging sales in China. However, the leading footwear’s sales in North America are a letdown as it hit lower-than-expected figures to overshadow the beat. Nike continues to struggle in North America as it faces tough competition from other brands […]

Amazon to deliver billions of packages through growing network in 2019
20.12.2019

Amazon is set to deliver its customer packages of up to 3.5 billion through its own in-house delivery network this year. Amazon has long been regarded as a long-term threat to United Parcel Service Inc (UPS) and FedEx Corp due to its growing network of delivery trucks, vans, and planes. FedEx has ended its relationship […]

Daimler to settle $20 million civil penalty over vehicle recalls in the US
19.12.2019

Daimler AG’s Mercedes-Benz USA has agreed to settle the $20 million civil penalty for vehicle recalls in the US. The government investigation on the 1.4 million recalled vehicles lasted for almost a year. The German automaker will pay $13 million and another $7 million if the company does not abide by the agreement, as stated […]

Argentina’s recent legislation raises taxes on farm exports, foreign assets
18.12.2019

BUENOS AIRES-Argentina’s government is set to impose higher taxes on agricultural goods and on abroad-based foreign assets, the economy minister disclosed on Tuesday. The government is set to implement higher export taxes on corn and wheat from 12% to 15%, Economy Minister Martin Guzman said. The “social Solidarity and Production Reactivation” plan will also hike […]

Johnson reinforces UK law to expedite trade deal with EU in 2020
17.12.2019

After winning a majority vote in the election on Thursday, Britain’s Prime Minister Boris Johnson will use his control of parliament to overpower extension schemes of the Brexit transition period beyond 2020. “Our manifesto made clear that we will not extend the implementation period and the new Withdrawal Agreement Bill will legally prohibit government agreeing […]

China’s industrial output and retail sales for November exceed expectations
16.12.2019

BEIJING- China’s industrial output and retail sales growth for November recorded a far better results than what was initially forecasted, indicating that the economy is stronger as Beijing seeks to support domestic demand despite the months-long trade truce with the United States. Industrial production advanced 6.2% year-on-year in November as disclosed by records from National […]

Asian shares boost as phase one trade deal relieves market anxiety
16.12.2019

SHANGHAI-Asian shares recorded a well-ended performance on Monday over fresh news on Sino-U.S. trade agreement. However, investors remain cautious on lurking skepticism about the deal and diplomatic relations of China and the United States. Though there are some necessary revisions, U.S. Trade Representative Robert Lightizer said that the pact was “totally done” and was expected […]

Argentina hikes export taxes in attempts to finance new government’s spending
16.12.2019

Argentina hikes export taxes in attempts to finance new government’s spending Argentina raised export taxes over processed soybean meal and oil on Saturday as its government attempted to fund spending under new President Alberto Fernandez. After this year’s 37% slump in the Peso, his administration has replaced a levy of 4 Pesos per Dollar for […]

Ping An Insurance’s OneConnect downsizes planned IPO by 28%
12.12.2019

Ping An Insurance’s OneConnect downsizes planned IPO by 28% OneConnect Financial Technology, a unit of China’s biggest insurer Ping An Insurance, downsized its upcoming IPO in the U.S. by 28%. The firm set a price range of $9 to $10 per share, down from the previous $12 to $14 per share range. It also downsized […]

U.S. reportedly planning to delay China tariffs
11.12.2019

U.S. reportedly planning to delay China tariffs The Wall Street Journal reported on Tuesday that the U.S. was planning to delay its imposing of 15% tariffs (about $160 billion) in Chinese goods that would take effect on December 15. However, following the reort, White House economic advisor Larry Kudlow said that the December 15 tariffs […]

Gold: In a sideways channel
10.12.2019

In the charts of late, Gold is seen trading in a sideways manner. The precious metal’s value is around $1,461 per Oz in Asia. The trendlines connecting Nov. 12 and Nov. 26 lows and Nov. 20 and Dec. 4 highs attest to the reading. Should there be a confirmation of a channel breakdown, a resumption […]

GBP/USD promising with multi-month highs; Conservatives victory in the cards
10.12.2019

Around 1.3150, the GBP/USD stands mildly bid. This is ahead of the London open. April saw its surge, but with the Conservatives in the lead for the upcoming December elections, the upside was capped. This had led analysts to look hard into U.K. growth and industrial figures. In the figures, it is apparent that the […]

Westpac refunds $46 million to shareholders, faces money laundering scandal
10.12.2019

Westpac Banking Corp refunded A$68 million ($46.14 million) to shareholders who wanted to withdraw their shares on a purchase plan after the bank faced a lawsuit accusing it of laundering millions. Westpac, Australia’s second biggest lender, offered refunds to people who bought new shares under the plan even before the lawsuit was filed. Investors have […]

Indonesia’s October retail sales accelerates at fastest pace in five months
10.12.2019

Indonesia’s October retail sales accelerates at fastest pace in five months Growth in Indonesia’s retail sales accelerated to 3.6% in October from a year earlier, the fastest pace in five months which picked up strength from its September growth of 0.7% according to a central bank survey on Tuesday. Growth was mainly driven by increased […]

Oil prices drop due to trade war, demand concerns rake in market anxiety
10.12.2019

SINGAPORE-Oil prices underperformed on Tuesday for two consecutive sessions as global demand outlook pressed against OPEC’s arrangement with producers aimed at increasing crude output cuts in 2020. At 0204 GMT, brent futures dropped 11 cents, equivalent to 0.2% loss at $64.14 per barrel while West Texas Intermediate oil futures dropped 7 cents, or 0.1% to […]

Britain’s Tesco plans on exiting from Asian markets
09.12.2019

LONDON-Britain’s biggest retailer, Tesco (TSCO.L) has signaled serious withdrawal from its large global objective by initiating assessment on remaining Asian businesses which could bring Thai and Malaysian operations up for sale. In line with the firm’s 100th anniversary, Tesco is also five years deep in UK-focused action plan initiated by Chief Executive Dave Lewis designed […]

Wall Street gains boost Asian shares up but China concerns cap earnings
09.12.2019

SYDNEY-Majority of Asian stocks hiked up on Monday from Wall Street’s well-ended performance after strong US jobs data. However, regional shares were restricted due to pressing issues of China’s economic slowdown brought by months-long Sino-US trade truce. Japan’s benchmark Nikkei .N225 acquired 0.4% while MSCI’s largest Asia Pacific index shares .MIAPJ0000PUS earned 0.3%, with Australian […]

Oil prices lower as crude inventories build higher than expected
05.12.2019

Oil prices lower as crude inventories build higher than expected Oil prices traded lower on Thursday in Asia after data showed a higher-than-expected build in crude inventories. U.S. Crude Oil WTI Futures fell 0.3% to $58.23 by 11:54 PM ET (03:54 GMT). International Brent Oil Futures slipped 0.1% to $62.94. The Energy Information Administration (EIA) […]

Australian shares suffer from dwindling trade optimism
04.12.2019

Dec 4- Australian shares continued its negative performance on Wednesday as reemergence of previous concerns about global trade inflict Wall Street stocks and dragged mining and financial sectors down. Market sentiment on Sino-US trade pact dimmed as US President Donald Trump suggested that the deal was far from getting signed as Commerce Secretary Wilbur Ross […]

Asian stocks fall as Trump’s new tariffs rekindle trade tensions
03.12.2019

Asian stocks fall as Trump’s new tariffs rekindle trade tensions Asian shares fell on Tuesday after U.S. President Donald Trump stunned markets by imposing new tariffs on products imported from Brazil and Argentina, rekindling fears over global trade tensions. China’s blue-chip CSI300 index fell as much as 0.62% before clawing back to register small gains. […]

Hong Kong expects unrest to cost 2 percentage points for GDP growth
02.12.2019

Hong Kong expects unrest to cost 2 percentage points for GDP growth Hong Kong is expected to record its first budget deficit since 2004 due to unrest within the city. The economy is expected to cost up to 2 percentage points of output growth according to Financial Secretary Paul Chan. The expected deficit for the […]

TOKYO SHARES BARELY PERFORM AS MARKET AWAITS FOR MORE POSITIVE TRADE SIGNALS
29.11.2019

TOKYO-Japanese shares made minimum gains on Friday and were posed to approach its third month of earnings.  In line, investors hoped that the recent US legislation supporting Hong Kong protesters would not prevent US-China trade deal from getting signed. Benchmark Nikkei moved minimally at 23,408. 04 in latter part of the morning trade but set […]

SBI sets to increase IPO up to an estimated $1.25 Billion
28.11.2019

MUMBAI- SBI Cards and Payment Services, credit card subsidiary of State Bank of India and India’s top lender, submitted draft on Wednesday complete with proposed initial public offering (IPO) with market regulator and stock exchanges. The company is set to release 5 billion worth of new shares as it also plans to offer up to […]

Oil falls after record production swells U.S. inventory
28.11.2019

Oil falls after record production swells U.S. inventory Oil prices fell on Thursday after official U.S. crude and gasoline stocks rose against expectations as production hit a record thus extending losses from previous sessions. Brent crude futures were down 0.3% or 18 cents to $63.88 a barrel by 0517 GMT, dropping down 0.3% on Wednesday. […]

HSBC sees double-digit growth in asset and revenue in Asia
27.11.2019

HSBC Holdings PLC’s private banking business is actively pursuing a double-digit growth in revenue and client assets, as it riffs off a sudden rise in Asian wealth, according to the unit’s chief executive. Chief Executive Antonio Simoes said that HSBC aims to increase its physical presence in China. The world’s second-largest economy is known to […]

Asian stocks bolstered by fresh trade talk momentum
26.11.2019

Asian stocks bolstered by fresh trade talk momentum Asian stocks rose on Tuesday, bolstered by Wall Street’s record closing highs and signs of new momentum in Beijing’s and Washington’s efforts to end their long and acrimonious trade dispute. MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) rose 0.5% to a one-week high. Australian shares […]

Bankrupt Philadelphia refiner seeks $2.5 million for second round of executive bonuses
26.11.2019

Philadelphia Energy Solutions Inc. oil refiner is seeking at least $2.5 million to give as bonus payments to its top executives as part of plan in reorganizing or selling the company after filing for bankruptcy earlier this year. US bankruptcy court filings show that PES executives were already paid almost $4.5 million in retention awards […]

China to issue U.S. Dollar bonds on Tuesday
26.11.2019

BEIJING- China will start issuing overseas dollar sovereign bonds on Tuesday and the expected size will surpass the $3 billion record last 2018, Chinese finance ministry official stated. “The size of issuance will surpass that of previous years,” according to the official. Chinese Finance ministry is yet to disclose further details about the implementation which […]

France’s 5G spectrum set to be sold at minimum price of 2.17 billion euros
25.11.2019

France’s 5G spectrum is set to be sold at a floor price of 2.17 billion euros ($2.4 billion), which is significantly bigger than the amount formerly suggested by Arcep, France’s telecoms regulator. Arcep’s president Sébastien Soriano, who has been leery of large investments to fund the deployment of the new mobile technology, said that the […]

China, HK stocks rally on trade optimism
25.11.2019

SHANGHAI- Hong Kong stocks recovered from weeks of underperformance following elections. Rekindled hopes over the possibility of US and China signing the deal soon heavily contributed to the said hike.   The Hang Seng index acquired 1.8% gains to 27,062.53 points while Hong Kong China Enterprises Index rose with 1.5% to 10,661.04. US President Donald Trump […]

U.S. to resume Chinese chicken exports following approval for processing plants
25.11.2019

U.S. to resume Chinese chicken exports following approval for processing plants The U.S. moved closer to resuming lucrativce chicken exports to China after more than a hundred American processing plants were given approval to ship to the Asian nation. China authorized poultry imports from 172 facilities in the U.S. effective Friday, according to a notice […]

KKR raises first $1.5 billion for Asia infrastructure fund
22.11.2019

Global private equity group KKR & Co has raised almost $1.5 billion, 50% of its $3 billion target on its first Asia-focused infrastructure fund, according to a source knowledgeable with the matter. KKR launched its fundraising this year but began targeting Asia’s infrastructure sector one year ago. The source asked not to be identified as […]

Japanese stocks soar amid wary optimism on trade talks
22.11.2019

TOKYO, Nov 22- Japanese shares inched higher on Friday as the possibility of United States and China sealing a trade deal reduced risk appetite. Nikkei index gained 0.61% to 23, 178.77 at exactly 0150 GMT. The rise was heavily brought by earnings of IT and industrial equipment sectors. China and the United States were still […]

Japan Factory Output hits seventh-month downturn, hurts economy
22.11.2019

The factory production of Japan in November remained below the 50.0 level and marked its 7th consecutive decline on a monthly basis. Policymakers are now faced with a challenge to stir economic activity which continues to be at a slow pace this year. The Jibun Bank Flash Japan Manufacturing Purchasing Manager’s Index (PMI) posted 48.6 […]

Former JPMorgan trader found guilty of rigging currency trades
21.11.2019

A former forex (foreign exchange) trader of JPMorgan Chase & Co was found guilty of conspiracy and rigging trades for personal benefit. Court records showed that ex-trader Akshay Aiyer was convicted of one count of conspiracy and is scheduled to be sentenced on April 3 in Manhattan. “This conviction serves as a reminder of our […]

Sino-Trade anxiety presses European shares down
21.11.2019

Nov. 20- European shares hit low point on Wednesday as trade-sensitive sectors suffered from US President Donald Trump’s latest statement of imposing higher tariffs on Chinese good if trade pact signing ambiguity continued. Trade-dependent shares of Germany and France sunk down with 0.7% loss by 0819 GMT topping the decliner board among major regional indexes. […]

Union raises funds to assist U.S. diplomats pay legal bills for testimony against Trump
19.11.2019

The Union of U.S. diplomat representatives has raised money amounting to tens of thousands of dollars to pay for the legal costs of the testimonies of foreign service officers in the impeachment inquiry of President Donald Trump. The American Foreign Service Association (AFSA) issued a statement in defense of the U.S. diplomats against Trump’s criticism […]

TOKYO SHARES INCH LOWER FROM EXPORTERS’ PRESSURE OVER FIRMER YEN
19.11.2019

TOKYO-Japanese stock benchmark Nikkei underperformed on Tuesday brought heavily by ambiguity in US-China trade negotiations and exporters’ anxiety from yen’s performance against dollar.   The Nikkei share plunged down with 0.2% to 23,361.35 as broader Topix dropped with 0.1% to 1,698.44. Wall Street’s primary indexes started flat-lined from lack of trade direction. However, it managed […]

Boris Johnson puts corporate tax cut on hold, primes health advocacy to woo voters
19.11.2019

Prime Minister of Britain Boris Johnson bared on Monday he was putting on hold corporate tax cuts and told voters he would spend for health plans. This move is in light of the Dec. 12 election to woo voters by saying that he would reverse cuts to many public services in the last ten years […]

SoftBank to merge Yahoo Japan with Line Corp in plan to create $30 billion tech giant
18.11.2019

Japan’s SoftBank Corp is set to merge its internet unit Yahoo Japan with messaging app operator Line Corp in a plan to create a $30 billion tech giant. SoftBank is currently merging with struggling companies to stick up to other tech rivals, such as Rakuten Inc. A statement was issued saying that Yahoo Japan (recently […]

Boris Johnson vows to end Brexit uncertainty
18.11.2019

Boris Johnson and the rest of the Conservative Party of the British government are poised to get Brexit done to finally end its uncertainty that compromised the economy. This shall be made possible once they get re-elected in December. The election in Dec. 12 was called in a bid to halt three years of disagreement […]

EUROPEAN SHARES UNDERPERFORM DUE TO DAIMLER WARNING, WEAK ECONOMIC RECORDS
15.11.2019

European shares recorded a weak ended session as warnings from German carmaker Daimler and frail economic data from major economies contributed tension to a global slowdown concern. The pan-European STOXX 600 index inched lower with 0.3% with most sectors contributing to the inactivity and automakers .SXAP leading the decline with 1.4%. Daimler (Daign.DE) plummeted with […]

Central Bank of China adds 200 billion yuan to beef up liquidity, retains interest rates
15.11.2019

The Chinese central bank supplied 200 Billion Yuan ($28.60 bBillion) through its medium-term lending facility on Friday. It is the central bank’s move to (second time this year) beef up economic activity while keeping interest rates at its current levels. The markets were surprised to the bank’s move to add long-term funds as it had […]

BRITAIN WARNS EU CITIZENS OVER BREXIT RESIDENCY DEADLINE
14.11.2019

LONDON-Britain warned that European citizens who fail to apply for Brexit’s new immigration status before deadline will be deported. In line with this, citizens who met listed exemptions will qualify for leniency. The government was reported to have already drafted a closed list of exemptions including physical and mental disability and children whose parents did […]

Hong Kong braces for more skirmishes as protesters paralyze the city
13.11.2019

Hong Kong prepared for more tumults on Wednesday as the mass protests continue to spread violence around the city-state, paralyzing some transport links, schools, and businesses. Demonstrators scuffled with the police through the night at university campuses and other locations hours after a senior police officer said Hong Kong had been at the edge of […]

Toshiba reports highest profit in over two years
13.11.2019

Toshiba Corp reported its second quarter profit, the company’s highest profit in over two years. The company is set to buy out three of its subsidiaries as it moves forward from a management crisis and accounting scandals. Toshiba reported an operating profit of 44.23 billion yen ($405.41 million) for the second quarter that ended in […]

EUROPEAN BONDS SUFFER AS TRADERS EXPECT EUROPEAN AUTO TARIFFS DELAY
12.11.2019

LONDON-European bonds plummeted on Tuesday on expectations that US President Donald Trump will yet again hold his decision on whether to implement tariffs on European autos. This dampened investors’ appetite regarding government debt. Trump is expected to give key note discussion regarding US trade policy at the Economic Club of New York on Tuesday. In […]

China’s auto industry shifts focus to rural car sales
11.11.2019

China’s auto industry shifts focus to rural car sales China’s auto industry executives met with government officials over the weekend in order to seek ways to promote higher car sales in rural areas, according to sources familiar with the matter. The country’s car manufacturing has been facing pressures of falling sales in the world’s largest […]

EUROPEAN SHARES INCH LOWER DUE TO TRADE PACT UNCERTAINTY
08.11.2019

European shares began its session with weak footing last Friday compromising its performance throughout the week. This followed after US-China trade pact uncertainty left investors doubtful over the possibility of the said trade pact signing.                 The pan-European STOXX 600 index suffered with 0.4% at 0807 GMT but is expected to finish its fifth straight […]

Vietnam to inspect Chinese smartphones for disputed maps
08.11.2019

Vietnam to inspect Chinese smartphones for disputed maps Vietnam will inspect all smartphones imported from China which includes Huawei and Xiaomi models according to the Tuoi Tre newspaper reports that cite Ngyuen Hung Anh, head of Vietnam Customs’ anti-smuggling and investigation department. Vietnam will check the phones to see whether its pre-installed navigation apps are […]

EUROPEAN SHARES AT 4-YEAR HIGH FROM SINO-US TRADE OPTIMISM
07.11.2019

NOV. 7- European shares hit four-year high last Thursday following China’s statement that Beijing and Washington will pull out tariff implementation in different phases. Both countries must pull out the implementation of tariffs on each other’s goods in order to come up with the possibility of “phase one” trade pact, said Gao Feng, spokesman of […]

SoftBank reports $8.9 billion loss in second quarter due to Vision Fund
06.11.2019

SoftBank reports $8.9 billion loss in second quarter due to Vision Fund Softbank Group Corp reported its second quarter profits, detailing a loss of 970 Billion Yen ($8.9 billion) on Vision Fund due to falling valuations of top tech bets like Uber and WeWork. The accounted loss is reported to be Softbank’s first quarterly loss […]

Chinese official says breakthroughs made in Asia trade talks
04.11.2019

Chinese official says breakthroughs made in Asia trade talks A Chinese official on Monday said that breakthroughs had been made in negotiations for an Asian-wide pact that is said to be the world’s biggest trade deal. However, consultations with India are still under way, he said. The details of the deal will be announced later […]

Review supports U.K.’s plan to raise minimum wage
04.11.2019

An independent review posted on Monday is backing up Britain’s plan to raise the minimum wage to two-thirds of median earnings. The raise moves the wage to 10.50 pounds or $13.58 per hour. Finance Minister Sajid Javid said in September he would raise the National Living Wage (NLW) to the new target by 2024 and […]

GBP/USD bid ahead of U.K. PMI; Tory leadership in the cards
04.11.2019

As a Tory leadership may well be in the cards after the Brexit elections on December 12, the GBP/USD is seen to hold on to recovery gains as it takes the bids to 1.2940 before this week’s London open. Opinion polls agree that Tory Leader Boris Johnson is on the lead over the Opposition Party […]

Amazon shares fall 7%, forecasts below expectation
25.10.2019

Amazon shares fall 7%, forecasts below expectation Amazon.com Inc’s forecast revenue and profit for the holiday quarter was below expectations as it faced fierce competition and rising costs from plans to speed up global delivery times. Shares fell 7% as revenue growth for the company’s lucrative cloud computing business slowed down in the third quarter. […]

German car parts supplier Brose to cut 2,000 jobs as auto sector struggles
17.10.2019

German car parts supplier Brose to cut 2,000 jobs as auto sector struggles German autos supplier Brose Group said on Thursday that it was cutting over 2,000 jobs in Germany in the coming years due to a slump in earnings. The car parts supplier blamed it on a declining Chinese market, changes in the car […]

Money markets slash rate cut expectations after EU and Britain seal Brexit deal
17.10.2019

Money markets slash rate cut expectations after EU and Britain seal Brexit deal Money markets further scaled back expectations for interest rate cuts from European Central Bank of England after Brussels and London announced that they had agreed a new Brexit deal. Eurozone money markets have now priced out a 10 bps rate cut at […]

Analysts see Trump’s hailing of $50 billion in Chinese farm purchases as “meaningless”
14.10.2019

Analysts see Trump’s hailing of $50 billion in Chinese farm purchases as “meaningless” China is still distant from buying $50 billion worth of agricultural goods from the United States according to analysts from the industry. They cautioned that this could only pull through if substantial technical and political hurdles have been removed. As part of […]

China’s September exports expected to drop by 3%
11.10.2019

China’s September exports expected to drop by 3% China’s exports fell at a slightly faster pace in September as reducing global demands and U.S. tariffs intensified. Meanwhile, imports shrank for a fifth month straight, suggesting that pressure on the economy has been increasing. As more U.S. tariff measures against China are set to take effect […]

Bank of England sets out rules of engagement for Facebook’s Libra
09.10.2019

Bank of England sets out rules of engagement for Facebook’s Libra The Bank of England (BoE) had set out rules of engagement that Facebook’s cryptocurrency, Libra and other digital payment providers would meet before they can operate in Britain. The BoE’s Financial Policy Committee added that Britain’s banks along with its financial system were fully […]

The U.S. to apply 25% tariffs on Scotch whiskey, Italian cheese, and French wine
03.10.2019

The U.S. to apply 25% tariffs on Scotch whiskey, Italian cheese, and French wine The Trump administration had slapped 25% tariffs on French wine, Italian cheese, and single-malt Scotch whiskey exports in retaliation for EU subsidies on large aircraft. However, they spared Italian wine, pasta, and olive oil. The U.S. Trade Representative’s Office released a […]

Metro Bank founder quits amid fallout from accounting error
03.10.2019

Metro Bank founder quits amid fallout from an accounting error Metro Bank shares jumped more than a quarter on Wednesday after its founder and chairman, Vernon Hill, quit following the wake of a significant accounting error that misclassified almost £900 million worth of loans. According to Metro, Hill would quit the group by December 31 […]

Chip stocks propel gains in Europe
02.10.2019

Chip stocks propel gains in Europe European shares gained on Tuesday as Apple suppliers held the lead following reports of strong iPhone sales. Semiconductor makers jumped into the spotlight with AMS, Dialog, and STMicro posting gains in early trading, pushing the technology sector higher by 1%. Apple Inc’s Chief Executive Officer Tim Cook told a […]

Visa and Mastercard Inc to reconsider backing Facebook’s Libra
02.10.2019

Visa and Mastercard Inc to reconsider backing Facebook’s Libra Visa (V.N), Mastercard Inc (MA.N), and other key financial partners may reconsider their involvement in Facebook Inc’s (FB.O) Libra. Initially, the financial backers to the cryptocurrency did not want to attract regulatory scrutiny and declined Facebook’s request to publicly support the project. Policy executives from the […]

WeWork to withdraw ill-fated IPO
01.10.2019

WeWork to withdraw ill-fated IPO WeWork’s parent company, The We Company, filed to withdraw its initial public offering a week after the SoftBank-backed startup ousted its founder Adam Neumann as its chief executive officer. The withdrawal of its IPO marks the end of the New York-based company’s pursuit of a near-term listing. It allows Neumann’s […]

Asian Shares slips as U.S.-China Trade Talks continue
23.09.2019

Asian Shares slips as U.S.-China Trade Talks continue Asian share markets slipped on Monday as investors waited for more clarity on U.S.-China trade talks. Market sentiment remained fragile with civil unrest in Hong Kong, tensions in the Middle East and worries that a trade deal between the United States and China could take a long […]

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