Economic news

Dollar falls as economic data offsets virus fears
27.10.2020 - Petr Mazaylo

The dollar nursed losses against most currencies on Tuesday as strong regional economic data offset fears about a second coronavirus wave in the United States and Europe. Profits at Chinese industrial firms rose for a fifth consecutive month in September, while the South Korean economy drastically improved. This development boosted the yuan and lifted the […]

Charles Schwab layoffs 1,000 job positions to reorganize its network
27.10.2020 - Petr Mazaylo

On Monday, Charles Schwab Corp. (SCHW.N) announced that it would start laying off 1,000 job positions in its combined workforce with TD Ameritrade Holding (AMTD). The American multinational financial services company said that the move was made to streamline and reshape its branch networks in the United States. “These reductions are part of our efforts […]

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

On Tuesday, Rolls-Royce Holdings (RR) stated that it would seek 2 billion Pounds ($2.6 billion) from its shareholders in a “make-or-break” attempt to survive the coronavirus pandemic. The British multinational engineering company stated that the coronavirus outbreak severely affected its finances. The firm also added that its planes stopped flying due to the weak global […]

Twilio Inc posts its surprise third-quarter revenue
27.10.2020 - Petr Mazaylo

On Monday, Twilio Inc (TWLO.N) posted its surprise third-quarter revenue and forecast sales estimates for the fourth quarter. The American cloud communications service company said that its cloud services became in demand as firms switched to remote working and learning amid the coronavirus outbreak. According to the IBES data from Refinitiv, Twilio’s net profit went […]

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

On Monday, the United States International Trade Commission (ITC) announced that the decision would be delayed in SK Innovation’s (096770: KRX) secret trade theft case. The government agency said that the final decision would be announced on December 10, 2020. In 2019, Tesla and General Motors’ electric-vehicle battery (EVB) supplier LG Chemical (051910: KRX) filed […]

Ant Group closes its Hong Kong-based institutional order books due to an overwhelming IPO demand
27.10.2020 - Petr Mazaylo

On Tuesday, Ant Group announced that it will close its Hong Kong-based institutional order books for its initial public offering (IPO). The world’s highest-valued financial technology company said that the move was made ahead of schedule due to strong public demand. Ant Group also stated that its Hong Kong listing’s institutional book worth $17.2 billion […]

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

The dollar rose on Monday as rising coronavirus infections in the United States and Europe and a stalling in U.S. stimulus talks prompted a cautious mood in the market.  The United States and France reported their highest coronavirus cases for two straight days. Meanwhile, Italy implemented new curfews for bars and restaurants and Spain announced […]

Oil drops as spike in coronavirus case stirs demand worries
26.10.2020 - Evdokimov Roman

Oil extended losses from last week on Monday, dropping almost 2% as a spike in U.S. and European coronavirus cases raised worries over fuel demand, while higher supply hit sentiment. Brent crude fell 1.7%, or 70 cents, at $41.07 per barrel. U.S. West Texas Intermediate slid 1.7%, or 69 cents, at $39.16 per barrel. In […]

Qatar to purchase Moderna’s potential coronavirus vaccine
26.10.2020 - Korneychuk Evgeniya

On Sunday, Qatar reported that it signed an agreement with Moderna Inc. (MRNA) to purchase its potential COVID-19 vaccine once approved and released for global use. Qatar News Agency reported that there are no internationally approved vaccines yet. However, several vaccines would be in advanced trials including Pfizer Inc. (PFE), Johnson & Johnson (JNJ), and […]

Dunkin Brands to potentially acquire Inspire Brands
26.10.2020 - Evdokimov Roman

On Sunday, Dunkin’ Brands Group Inc. (DNKN.O) announced that it held preliminary discussions with Inspire Brands for a potential acquisition agreement. The American fast-food restaurant company declined to reveal further details. “There is no certainty that any agreement will be reached,” Group’s Chief Communications Officer Karen Raskopf said. The New York Times reported that Dunkin’ […]

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