Economic news

On Thursday, H&M (HM-B) announced its plans to close its 250 shops in 2021 as online shopping demand became very popular amid the coronavirus outbreak. Moreover, the world’s second-biggest fashion retailer reported a smaller than expected drop in its third-quarter profit. “Although the challenges are far from over, we believe that the worst is behind […]

On Thursday, Rolls-Royce Holdings (RR.L) said that it plans to raise 5 billion Pounds ($6.5 billion) to cope with a “worst-case scenario” as the weak global travel demand affected the company’s cash flow amid the coronavirus pandemic. The British multinational engineering company stated that 2 billion worth of funds came from its shareholders. “This is […]

Global share markets gained on Thursday. This was mainly from investors’ upbeat sentiment over fresh stimulus in the United States. However, caution was seen ahead of the upcoming presidential poll, while technical difficulties in Japan restricted gains. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% gain as Australian shares advanced 1.4%. Futures […]

Most major housing markets are expected to lag behind consumer price inflation in 2021. While they managed to reach strong levels this year, they are still predicted to suffer from various downside risks amid the coronavirus crisis and ultra-low interest rates, a Reuters survey showed. Average home prices are expected to grow in several countries […]

The Dow halted from its rout on Tuesday but still remained in negative territory as poor data in energy and financials weighed on investor sentiment amid the resurgence of COVID-19 cases.  The Dow Jones Industrial Average fell 0.18% (48 points). Meanwhile, the S&P 500 was down 0.13%, while the Nasdaq Composite added 0.02%. Energy shares took a […]

Gold prices rose on Tuesday, continuing gains from the previous session and returning to the key $1,900 level after the Dollar and equity markets slumped ahead of the U.S. presidential debate. U.S. gold futures for delivery on December rose by 1.1% ($20), last trading at $1,903.20 per ounce on New York’s Comex. The benchmark gold […]

The dollar climbed in the European session on Wednesday, recovering losses after a two-day slide as traders evaluated a debate between U.S. President Donald Trump and Democratic challenger Joe Biden. The dollar index rose above the 94-mark following two days of losses, which came after the greenback hit a two-month high last week. European stocks […]

Oil prices fell on Wednesday on fears that rising coronavirus cases would prompt additional restrictions on social activity and weaken fuel demand. Brent crude dropped 1.2%, or 48 cents, at $40.55 per barrel. U.S. West Texas Intermediate slid 0.8%, or 33 cents, at $38.96 per barrel. The benchmarks fell over 3% on Tuesday as global […]

On Wednesday, Royal Dutch Shell (RDSA) announced that it plans to cut 9,000 jobs or roughly 10% of its workforce as part of a major corporate overhaul to keep pace with the global transition to clean energy as oil demand slumps amid the coronavirus pandemic. The British-Dutch multinational oil and gas company said that it […]

On Tuesday, Walt Disney Co. (DIS) announced that it would furlough 28,000 employees located at its United States theme parks. The mass media and entertainment company said that its establishments in California would be closed due to the coronavirus pandemic. “We have made the very difficult decision to begin the process of reducing our workforce […]