Economic news

Gold prices fell earlier on Thursday in Asia as the Dollar continued to gain strength amid fading hopes of a U.S. COVID-19 stimulus package before the November 3 presidential elections. Gold futures slipped by 0.30%, trading at $1,901.55 per ounce at 11:58 PM ET (3:58 AM GMT). The Dollar saw gains in morning trade, buoyed […]

Global shares slumped earlier on Thursday after the resurgence of COVID-19 cases in Europe and the standstill of a U.S. Treasury decision for a stimulus package before the November 3 presidential elections dampened market sentiment. The MSCI’s broadest index of Asia-Pacific shares outside Japan fell by 0.6%, while Japan’s Nikkei lost 0.5%. European shares along […]

On Wednesday, United Airlines Holdings Inc. (UAL) announced that it would cut costs by 59% in the third quarter amid the coronavirus pandemic. The Chicago-based airline holding company said that it lost $1.8 billion or $6.33 per share in the third quarter. United Airlines’ total revenue dropped to $2.49 billion from $11.38 billion last year. […]

September had seen China’s factory gate prices dropping faster than what was expected. Meanwhile, consumer inflation grew at its most gradual pace in 19 months, highlighting the challenges that the country faces amid its emergence from the coronavirus drag. After recording a 2.0% drop in August, the producer price index (PPI) fell 2.1% in September. […]

Asian share markets recorded a mixed performance on Thursday. This followed after optimism over U.S. stimulus talks had weakened and as new coronavirus infections in some parts of Europe reached record highs, prompting investors to resort to safe-haven assets. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% decline. Australia’s S&P/ASX 200 advanced […]

The dollar and yen firmed on Thursday as resurging COVID-19 infections and little progress on a U.S. stimulus package rattled investors. The Aussie hit a one-week low after the Reserve Bank of Australia hinted at monetary easing. The safe-haven yen traded at 105.25 on the dollar in early trade, slightly lower than the two-week high […]

Oil prices climbed in early Tuesday trade, adding to 2% gains overnight after data showed U.S. crude inventories dropped last week.  U.S. West Texas Intermediate crude futures rose 0.1%, or 4 cents, at $41.08 per barrel. Brent crude futures gained 0.1%, or 5 cents, at $43.37 per barrel. Oil markets rose for a third day […]

Ford Motor Co said on Tuesday that it will postpone the production of its plug-in Escape sport utility vehicle to next year because of its use of the same engine and battery parts that were recalled in Europe. The automaker said it had recalled around 20,500 Kuga PHEV vehicles in Europe last month due to […]

Regulators will meet on November to discuss steps on easing pressure on global banks that hold unnecessarily large levels of capital in every country they operate, the Financial Stability Board (FSB) said on Wednesday. Banks have complained of having to “ring fence” large amounts of capital and liquidity at every foreign branch due to local […]

Gold prices fell more than 2% on Tuesday, losing support from its $1,900 perch after negotiations for a U.S. economic stimulus ran into difficulties. The stimulus package was intended to help millions of Americans who were financially hit by the COVID-19 pandemic. The yellow metal had hit three-week highs above the $1,939 mark on Monday […]