Economic news

On Monday, Japan reported that it would join the United States and Europe as a regulatory body for big technology companies’ digital platforms. According to Japan’s Fair Trade Commission’s (FTC) Chairman Kazuyuki Furuya, Tokyo could open a probe into any business merger or tie-up if it is a big size deal. “If the size of […]

On Monday, Alibaba Group Holdings (BABA.N9988.HK) announced that it would invest $3.6 billion to purchase a controlling stake in Sun Art Retail Group Ltd (6808.HK). The e-commerce company said that the move was made to gain further ground in China’s retail market. “As the COVID-19 pandemic is accelerating the digitalisation of consumer lifestyles and enterprise […]

The dollar is on course for its best week of the month on Friday as rising coronavirus cases and little progress in a U.S. stimulus package prompted investors to seek safer assets. The dollar index rose to a two-week high of 93.910 as Europe and Britain reimposed restrictions. The U.S. Midwest is also battling record […]

Oil prices dropped on Friday on worries that major producers will continue with plans to lessen supple cuts despite a surge in U.S. and European COVID-19 cases curbing fuel demand. Brent crude futures fell 0.5%, or 22 cents, at $42.94 per barrel. U.S. West Texas Intermediate crude futures for November contract dropped 0.4%, or 16 […]

China’s economic rebound had gained momentum in the third quarter. This followed after consumers were seen returning to their spending practices and as trading partners resumed operations, shaking off the historic downturn seen earlier this year. On an annual basis, the world’s second-largest economy is expected to record a 5.2% expansion from July to September. […]

Asian share markets shed initial earnings, recording a weak performance on Friday. This could be attributed to investors’ subdued sentiment as the United States and Europe monitored an upsurge of fresh coronavirus infections. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.22% decline. U.S. stock futures dropped 0.12%, while China shares advanced during […]

Gold prices fell on Friday amid a spike in COVID-19 cases in Europe and the U.S., and the ongoing stalemate in the U.S. Congress over a COVID-19 package. Gold futures slipped by 0.03%, trading at $1,908.30 per ounce at 12:36 AM ET (4:36 AM GMT), losing gains made earlier. However, losses were limited with the […]

On Thursday, Fiat Chrysler Automobiles NV (FCA) announced that it would invest between $1.35 billion and $1.5 billion in its Windsor automobile factory in Canada. According to Unifor National President Jerry Dias, the world’s eighth-largest automaker wanted to produce electric vehicles (EV) as part of a tentative deal with Canadian workers. Diaz said that FCA […]

European stock markets closed higher earlier on Friday, taking back some lost ground after sharp decline in the previous session. However, many speculate that gains could be short-lived as concerns mount over the economic impact of the COVID-19 pandemic. DAX futures in Germany closed 0.1% higher at 2:10 AM ET (0610 GMT), while CAC futures […]

On Friday, Foxconn Technology Group (2354.TW) reported that it aims to provide components and services to 10% of the world’s electric vehicles (EV) in the next five to seven years. Foxconn said that it already started talking to multiple car manufacturers for future cooperation. “We want to push Taiwan’s EV industry to the world,” Foxconn’s […]