Economic news

On Tuesday, the United States Commerce Department announced that factory orders climbed by 1.1% after it went up by 0.6% three months ago. The government agency said that factory orders went up in light of increased demand for primary metals, computers, and electronic products as well as motor vehicles and fabricated metal products. However, factory […]

On Tuesday, the United States cruise industry announced that it would extend U.S. cruise operations’ suspension until December 31. The Cruise Lines International Association (CLIA) stated that its members would utilize the remainder of the year to prepare for the implementation of various safety measures due to the coronavirus pandemic. The organization represents 95% of […]

On Tuesday, Volkswagen AG (VOWG_p.DE) released its two ID.4 electric sport-utility car models in China. The German automaker company said that it would start a significant push to enter the world’s biggest auto market. The firm also added that it plans to compete with NIO Inc. and Tesla Inc. (TSLA). Volkswagen did not disclose the […]

On Tuesday, U.S. stocks opened sharply higher as President Donald Trump appeared to be doing better in some key states results in the U.S. presidential election this year. “Trump is just doing better on the margin everywhere, and there have not been any big Biden upsets. What we are seeing now is Trump doing better […]

Western Union Co (WU.N) reported that it expects an improved outlook next year as people adjust to the coronavirus crisis while expectations for an additional U.S. government stimulus package could help the country’s economy. “Generally, I would expect a better 2021 than we saw this year. At least here in the U.S., we should get […]

On Tuesday, Thomson Reuters Corp (TRI.TOTRI.N) posted its third-quarter net profit. The media company said that its revenue rose by 2% to $1.44 billion while its operating profit climbed by 21% to $318 Million. “I’m very pleased to report our markets and businesses continue to prove resilient in the face of a challenging broader macro-environment,” […]

On Wednesday, Subaru Corp (7270.T) posted its operating profit forecast worth 110 billion yen ($1.05 billion). The Japanese transportation conglomerate said that U.S. vehicle sales rebounded more than expected after the coronavirus pandemic severely hit the automotive industry. “In North America, we are seeing a faster-than-expected recovery trend. In April, our inventory was in short […]

On Monday, Banca Monte dei Paschi di Siena’s (BMPS.MI) Chief Executive Officer Guido Bastianini announced that the Italian bank needs 1.5 to 2.0 billion Euros ($1.7 to $2.3 billion) in cash to prevent breaching the firm’s capital requirements in the first quarter of 2021. In 2017, the commercial banking company received a rescue deal from […]

On Monday, Inspire Brands Inc. announced that it would finally acquire Dunkin’ Brands Group Inc. (DNKN.O) for $8.76 billion. The Atlanta-based holding company stated that its all-cash deal to take the ownership of Dunkin’ Donuts and Baskin-Robbins chains private would value the firm at $106.50 per share. “We are excited to bring meaningful value to […]

On Tuesday, Saudi Aramco (2222.SE) reported a 44.6% decline in its third-quarter revenue as the coronavirus pandemic severely affected the fuel demand and crude prices. The Saudi Arabian multinational petroleum and natural gas company outperformed Exxon (XOM.N), BP, and Shell (RDSA) by more than 50% while Chevron (CVX.N) was down by 40%. “We saw early […]