Economic news

Oil prices slid on Wednesday after a bigger-than-expected rise in U.S crude inventories offset worries for weak fuel demand and a possible supply glut. However, hopes that OPEC+ will maintain its output cuts in January capped losses. Brent crude futures for January contract fell 0.3%, or 14 cents, at $43.61 per barrel, following a 0.2% […]

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 […]

The safe-haven Japanese yen recorded a one-week peak, while a strong U.S. dollar rose above commodity currencies on Wednesday. The series of increase came as newly implemented restrictions across the United States and Europe dampened investors’ vaccine-driven sentiment. The yen, currently quoted at 104.04 per dollar, salvaged nearly two-thirds of the losses it made last […]

Global share markets recorded a subdued session on Wednesday. This followed after weak retail sales in the United States heightened concerns that surging COVID-19 cases would restrict the global economy from staging a brisk recovery.   In Asia, U.S. S&P futures recorded a 0.3% plunge on Wednesday. This came after the S&P 500 declined 0.48% […]

Airbnb Inc’s quarterly profit advanced in the third quarter amid the coronavirus pandemic, the company’s initial public offering (IPO) registration showed on Monday. Moreover, the figure came as the home rental startup heads toward one of the most anticipated stock market debuts in recent years. Prior to the company’s stock market debut in December, its […]

Wall Street was seen upbeat on Monday, with the S&P 500 and the Dow Jones industrial average hitting milestone peaks. This followed after encouraging vaccine-related news fuelled investors’ optimism. However, surging infections and newly implemented restrictions capped the possibility of staging a brisk recovery from the coronavirus downturn. All of Wall Street’s major indexes gained, […]

Chinese search engine Baidu Inc gained above expectations, with its quarterly revenue recording a 1% increase. In a bid to diversify its revenue sources, the company had also announced its interest in buying YY Live for $3.6 billion, a streaming platform developed by social media firm JOYY Inc. Baidu’s advertising sales cover large portions of […]

Asia stocks slowly rose into record territory on Tuesday, while oil gained after U.S. benchmarks were boosted by news of another promising COVID-19 vaccine. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.11% in early trade, following last session’s strongest level since it was launched in 1987. The MSCI World Index of global shares […]

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 […]

The dollar fell on Tuesday as a reimposition of coronavirus restrictions in several U.S. states and concerns about a smooth transition for President-elect Joe Biden offset optimism about a COVID-19 vaccine. The pound rose on news that the UK and the EU could reach a post-Brexit trade deal by next week. Moderna became the second […]