Economic news

On Tuesday, Ant Group announced that it will close its Hong Kong-based institutional order books for its initial public offering (IPO). The world’s highest-valued financial technology company said that the move was made ahead of schedule due to strong public demand. Ant Group also stated that its Hong Kong listing’s institutional book worth $17.2 billion […]

The dollar rose on Monday as rising coronavirus infections in the United States and Europe and a stalling in U.S. stimulus talks prompted a cautious mood in the market.  The United States and France reported their highest coronavirus cases for two straight days. Meanwhile, Italy implemented new curfews for bars and restaurants and Spain announced […]

Oil extended losses from last week on Monday, dropping almost 2% as a spike in U.S. and European coronavirus cases raised worries over fuel demand, while higher supply hit sentiment. Brent crude fell 1.7%, or 70 cents, at $41.07 per barrel. U.S. West Texas Intermediate slid 1.7%, or 69 cents, at $39.16 per barrel. In […]

On Sunday, Qatar reported that it signed an agreement with Moderna Inc. (MRNA) to purchase its potential COVID-19 vaccine once approved and released for global use. Qatar News Agency reported that there are no internationally approved vaccines yet. However, several vaccines would be in advanced trials including Pfizer Inc. (PFE), Johnson & Johnson (JNJ), and […]

On Sunday, Dunkin’ Brands Group Inc. (DNKN.O) announced that it held preliminary discussions with Inspire Brands for a potential acquisition agreement. The American fast-food restaurant company declined to reveal further details. “There is no certainty that any agreement will be reached,” Group’s Chief Communications Officer Karen Raskopf said. The New York Times reported that Dunkin’ […]

On Sunday, Cenovus Energy Inc. (CVE.TO) announced that it agreed to acquire its rival Husky Energy Inc. (HSE.TO) in an all-stock deal worth 3.8 billion CAD ($2.9 billion). The oil and natural gas company said that the move was made to establish Canada’s No. 3 oil and gas producer amid the coronavirus pandemic. “In one […]

European stock markets traded higher on Friday despite revitalized lockdown measures in Europe. Germany’s DAX gained 0.9% at 3:50 AM ET (0750 GMT), while France’s CAC 40 rose 1.1%. The U.K.’s FTSE index traded 1.1% higher. Germany’s private sector activity posted a four-month growth to October, according to Markit’s flash composite Purchasing Managers’ Index. Meanwhile, […]

Economic activity in the European continent contracted once more in October as the resurgence of COVID-19 cases across the region had many worried for recession in the Eurozone, according to a survey revealed on Friday. The reimplementation of lockdown measures had forced many businesses in the bloc’s dominant service industry to limit operations, with nearly […]

On Thursday, U.S. auto safety regulators announced that they would closely monitor Tesla’s new software version of self-driving cars. The organization said that Tesla must be ready to protect the public against safety risks. On Tuesday, Tesla Inc. (TSLA.O) released a beta version of its “Full Self-Driving” software upgrade to an undisclosed number of “expert […]

On Thursday, Adidas AG (ADS) announced that it plans to sell its Reebok (RBK) division. The German multinational sportswear corporation stated that it wants to end its ill-fated investment in the United States-focused brand. Adidas’s Chief Executive Officer Kasper Rorsted said that it plans to complete the sale by March 2021. Germany’s Manager Magazin stated […]