Economic news

The dollar steadied on Friday, while the euro sat near its four-week low on the greenback after the European Central Bank hinted at additional monetary easing by the end of the year. The euro’s fall overnight boosted the dollar index to a near four-week high. The ECB kept rates steady on Thursday but said that […]

On Thursday, Volkswagen Group (VOWG_p.DE) reported that its sales returned to profit during the third quarter. The German multinational automotive manufacturing company said that the strong demand for luxury cars in China helped offset a 1.1% drop in vehicle deliveries amid the coronavirus pandemic. “The coronavirus remains a central problem. However, this situation now is […]

On Thursday, France’s LVMH Moet Hennessy Louis Vuitton SE (MC.PA) announced that it would pay slightly less to acquire Tiffany & Co (TIF). The French multinational corporation said that both companies agreed to end a bitter dispute triggered by the coronavirus pandemic and finally close the luxury sector’s biggest-ever deal. “We are as convinced as […]

On Thursday, Airbus (AIR.PA) announced that it expects to reach its target cash goal in the fourth quarter. The European multinational aerospace corporation said that it aims to give its investors a first glimpse of its future performance since the start of the coronavirus pandemic. Airbus added that the firm’s cash spending was halted during […]

On Thursday, AirAsia X Berhad (AAX) announced its plans to drop a local airport operator from its restructuring plan debt worth $15.3 billion. According to Malaysia’s budget airline, the move was made to expedite discussions with creditors as its cash funds are running out fast. “Everyone in the aviation industry is affected now. It’s unreasonable […]

On Thursday, Credit Suisse (CSGN.S) posted a slide on its third-quarter revenue due to “significant foreign exchange headwinds.” The investment bank and financial services firm said it failed to offset a slowdown in its wealth management fees. Credit Suisse’s revenue fell by 38% worth 546 Million Swiss Francs ($602 Million) during the third quarter. However, […]

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 […]

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 […]

On Wednesday, Ericsson (ERICb.ST) reported that the telecommunications company had been selected by BT Group (BT.L) to supply 5G radio equipment in London, Edinburgh, Belfast, Cardiff, and other major cities in the United Kingdom. In July, the British government announced that it would ban Huawei Technologies (002502) in the UK until the end of 2027. […]

On Wednesday, Exxon Mobil Corp (XOM.N) announced that it partnered with Japan’s largest power generation company JERA. The American multinational oil and gas corporation said that it agreed to create a power station and import facilities for liquefied natural gas (LNG). Exxon said that the LNG would be used to fuel the Vietnamese city of […]