Economic news

The dollar dropped on Wednesday as optimism about a coronavirus vaccine was overpowered by concerns about its delivery and by a spike in U.S. coronavirus cases. Optimism about the coronavirus vaccine boosted the dollar against the yen and the Swiss franc, but the momentum soon faded. The dollar index fell to 92.633. The dollar dropped […]

China’s automobile sales recorded a 12.5% increase in the year ended October. The jump marked the automobile sector’s seventh consecutive month of gains as the world’s largest vehicle market tops the global industry in recovering from the coronavirus drag. After Toyota and Honda monitored a surge in sales in China, both automobile manufacturers had increased […]

Job openings in the United States expanded below expectations in September. Meanwhile, hiring was as subdued, indicating that the labor market was struggling even before fresh coronavirus cases reemerged. Even though layoffs reached record lows in nearly two decades, the Labor Department’s monthly Job Openings and Labor Turnover Survey revealed that more than one person […]

Two of Wall Street’s major indexes dropped on Tuesday, with the S&P 500 recording a minimal decline and the Nasdaq plunging 1.4%. This came after investors withdrew from tech-related stocks, favoring virus-beaten sectors in hopes that a COVID-19 vaccine will fuel an economic rebound. The heavyweight technology and consumer discretionary sectors hit low grounds, while […]

After sending technology-related stocks to historic highs earlier this year through purchasing sprees, options investors had resorted to small-cap companies and other economically sensitive firms. This underscored a wider rotation into value shares after a coronavirus vaccine rendered encouraging results. The small-cap Russell 2000 .RUT recorded a 3.7% increase, while the S&P 500 and the […]

Global stock markets recorded an upbeat performance on Wednesday. This followed after encouraging results from a COVID-19 vaccine trial kept investors’ concerns at bay amid surging infections in Europe and the United States. Meanwhile, the kiwi advanced brought by the Reserve Bank of New Zealand’s upbeat remarks. MSCI’s broadest index of Asia-Pacific shares outside Japan […]

On Friday, Sharp Corporation (TYO: 6753) announced that its second-quarter operating revenue dropped by 17.1% as the coronavirus outbreak continued to hit its sales of automotive displays and office printers. The Japanese multinational corporation reported that it gained 18.5 billion Yen ($178.67 Million) operating revenue from July to September 2020 compared to its 22.3 billion […]

On Friday, Allianz SE (ALVG.DE) announced that it would not provide any earnings forecast for this year due to the market uncertainty amid the coronavirus crisis. However, the German multinational financial services company gained an unexpected 6% rise in its third-quarter net revenue. Allianz’s Chief Financial Officer Giulio Terzariol stated that the financial markets’ volatility […]

On Friday, Novo Nordisk (NVO) reported that it had agreed to a $1.8 billion acquisition deal of Emisphere Technologies (EMIS). The Danish multinational pharmaceutical company said that it aims to broaden its market sales by using pill technology.  “We have been making injection drugs for a hundred years, but we just have to admit that […]

The 1Malaysia Development Berhad (1MDB) reported that it still had an estimated 32.3 billion Ringgit ($7.80 billion) in outstanding debt as of September 2020. In 2015, Malaysia’s former Prime Minister Najib Razak was accused of getting 2.67 billion cash from 1MDB to transfer the funds in his personal bank accounts. The former prime minister was […]