Economic news

On Wednesday, VTB (VTBR.MM) Bank’s Chief Executive Andrey Kostin said that Russia must increase its state debt to support the country’s economic growth. He also offered the bank’s aid to ramp up government bond purchases and other financial budget needs. “I am an advocate of an increase in state debt; this is important for economic […]

On Wednesday, AES Corporation (AES.N) said that it would sign an agreement with PetroVietnam Gas (GAS.HM) to develop a liquefied natural gas (LNG) import terminal worth $2.8 billion and another power plant located in Vietnam. AES stated that Vietnam started building multiple LNG-to-power plants which will be operational in 2023. “Vietnam has given the green […]

On Wednesday, Italy’s antitrust authority reported that it would investigate Alphabet’s Google (GOOGL.O) for alleged abuse of its Italian online display advertising market. Google Italy’s revenue from its online advertising market was worth 3.3 billion Euros in 2019. It also includes display advertising such as banner ads and other advertising formats. “The absence of competition […]

On Tuesday, the United States Environmental Protection Agency (EPA) announced it would allow farmers to spray crops with weed killers made by Bayer AG (BAYGn.DE) and other companies. In June, the U.S. Courts of Appeals (COA) suspended Bayer’s operations. The court blocked Bayer’s company sales after the government agency discovered that its weed killers were […]

The euro dropped against the dollar on Wednesday after reports that France’s government was considering a national lockdown to control a resurgence of coronavirus infections. The dollar nursed losses against the yen on bearish sentiment amid uncertainties about the result of the upcoming U.S. presidential election. It dropped to a near one-month low of 104.23 […]

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 […]

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 […]

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 […]

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 […]

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 […]