Economic news

Japan’s household spending recorded eleven consecutive months of decline ended August. Meanwhile, real wages had dropped for six straight months as consumers are still anxious to return to their pre-pandemic purchasing practices. Household spending recorded a 6.9% contraction in August from a year ago, government data showed on Friday. The figure came parallel with a […]

Asian shares recorded a 2-1/2-year peak on Friday. This followed after investors’ sentiment grew on U.S. stimulus talks, deviating their focus from weak employment data. Meanwhile, financial markets in mainland China advanced after a week-long holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.15% gain. The index is currently heading toward its […]

The dollar fell on Friday and on course for a second week of losses as investors increased bets on Joe Biden winning the U.S. presidency and offering stimulus aid after the elections. Wall Street Bankers forecast a stimulus package whichever candidate wins, but they are expecting a much bigger one if Biden takes the presidency.  […]

Oil prices slid a few cents in early Friday trading after nearly a week of big gains, following a strike in Norway that resulted in a 25% cut in production. Brent crude futures fell 9 cents to $43.25 per barrel after climbing 3% on Thursday. U.S. West Texas Intermediate crude slid 5 cents to $41.14 […]

On Friday, The Hongkong and Shanghai Banking Corporation (HSBA.L) announced that it would aim to achieve net-zero carbon emissions on its entire customer base in the next thirty years. The company said that it would provide cash financing worth $750 billion to $1 trillion in order to help its clients make the transformation possible. “COVID […]

On Friday, London Stock Exchange (LSE.L) reported that it had accepted a 4.33 billion Euros ($5.09 billion) cash offer by Euronext (ENX.PA ) to acquire Italy’s only stock exchange Borsa Italiana. In September, Euronext and LSE started to discuss the acquisition deal after the largest stock exchange in Europe saw a trade competition between Deutsche […]

Top executives of world’s largest cryptocurrency exchanges BitMEX have decided to step back from their roles, following criminal charges filed against them by U.S. prosecutors a week earlier, the firm said on Thursday. The company stated that it would “vigorously” fight the allegations after the U.S Department of Justice charged the firm’s three founders, Arthur […]

An escalating strike by oil workers in Norway could potentially cut output from western Europe’s biggest oil and gas producer by almost a quarter, operators said on Thursday. However, the union added that a resolution was possible. The dispute, which began on September 30 halted any prospects of price rises on the international oil market, […]

On Thursday, Danske Bank (DANSKE.CO) announced that it would cut 1,600 jobs in the next six to twelve months as part of a cost-reduction program that would run until 2023. Denmark’s largest bank stated that it was trying to get costs and compliance under control while it had already warned of further layoffs four months […]

On Wednesday, Miniso Group Holding Ltd. said in a regulatory filing that it plans to raise its initial public offering (IPO) to $562.4 Million. The low-cost Chinese retailer and variety store chain was backed by Tencent Holdings Ltd. (0700.HK). Goldman Sachs and BofA Securities would serve as the company’s underwriters for the offering. Miniso stated […]