Economic news

On Tuesday, United States President Donald Trump said that the Congress should provide new payroll assistance worth $25 billion to U.S. passenger airlines that furloughed thousands of its employees as the global travel demand was severely affected by the coronavirus outbreak. “IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support… I will sign it now!” […]

On Tuesday, Levi Strauss & Co (LEVI.N) announced its plans to expand its retail footprint and forecast in light of the high demand for its online business sales. “While growth in our direct consumer business will outpace that of our wholesale channel, we continue to see opportunities to reach new consumers with new and expanded […]

On Wednesday, Samsung Electronics Co Ltd (005930.KS) stated that it would announce its preliminary operating profit and revenue from July to September 2020 tomorrow. The world’s biggest memory chip supplier said that the company’s profit climbed by 35% to 10.5 trillion Won (£7.04 billion). According to Refinitiv Smart Estimate, its analyst expected a 3% rise […]

Orders for German-made goods rose by 4.5% in August, bringing optimism for a robust third-quarter in Europe’s largest economy after the COVID-19 crisis. The gains were attributed to demand from the Eurozone, according to the Federal Statistics Office on Tuesday, signaling that some companies were gradually recovering from the pandemic. Orders from abroad gained by […]

European stock markets traded lower on Tuesday over uncertainties of the COVID-19 crisis, despite positive signs of recovery in German manufacturing sector. Germany’s DAX futures fell by 0.1% at 3:45 AM ET (0745 GMT). France’s CAC index slipped by 0.1%, while FTSE futures in the U.K. lost 0.5%. Puma dropped 2.8% after French luxury group Kering completed […]

The dollar fell against its peers on Tuesday as growing optimism on a new U.S. stimulus package suppressed demand for safe-havens. Risk mood in the market was also boosted by news that U.S. President Donald Trump is returning to the White House after being treated for COVID-19. The dollar index slid to 93.39 after falling […]

Oil prices rose on Tuesday over fears that refineries could close again due to a storm brewing in the U.S Gulf. Investors were also relieved by news that President Donald Trump returned to the White House after being discharged from the hospital for COVID-19. U.S. West Texas Intermediate crude futures rose 0.9%, or 36 cents, […]

The United States’ services industry activity expanded in September, advancing above a level last seen before the coronavirus crisis ravaged the nation. The jump came amid increases in new orders and employment. The Institute for Supply Management’s non-manufacturing activity index was read at 57.8 the previous month. The figure came higher than the 56.9 reading […]

On Tuesday, Toyota Motor Corp (TYO:7203)  and Panasonic Corp (TYO: 6752) announced a joint company venture that would produce lithium-ion batteries for hybrid cars at a manufacturing plant located in Western Japan. The firms stated that battery production would start in 2022 to meet the growing demand for electric vehicles (EV). “The production line at […]

Asian stock markets had seen a two-week high on Monday following U.S. President Donald Trump’s recovery from the coronavirus. The president’s dismissal from hospital and encouraging news about U.S. stimulus talks had supported investors’ upbeat sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.71%, hitting a two-week peak. The jump could be attributed […]