Economic news

On Friday, Boohoo (BOOH.L) stated that it would have an independent review of significant labor violations at its garment suppliers located in Leicester. The United Kingdom-based online fashion retailer company said that it would look into allegations about poor factory working conditions. According to the company, Boohoo’s independent review would be headed by senior lawyer […]

On Thursday, Harley-Davidson Inc. (HOG.N) reported that it was in advanced talks with India’s Hero MotoCorp. (HROM.NS) for a distribution deal. The Milwaukee-based motorcycle manufacturing company said that the deal would allow its iconic motorcycle units to be available in India. “Hero will be the master distributor for Harley bikes in India. This will be […]

Japan’s factory output likely recorded three consecutive months of expansion ended August. However, it is monitored at a slower pace, indicating a modest recovery in the manufacturing sector, a Reuters survey showed on Friday. Industrial output is predicted to have advanced 1.5% in August. It previously recorded a revised 8.7% growth in July, the fastest […]

Asian share markets recovered on Friday. This could be attributed to a tech-driven rally on Wall Street backed by strong U.S. housing data.  Moreover, investors were seen salvaging losses after a broad regional index recorded its biggest daily decline in more than three months. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4%. The […]

Oil prices remained unchanged earlier on Friday but is expected for a weekly fall over concerns that a global resurgence of COVID-19 infections could hit fuel demand, with Libya also returning to add to the supply. Brent crude fell by 2 cents, exchanging hands at $41.92 per barrel at 0113 GMT (0913 PM ET), while […]

Gold broke its three-day loss streak, seeing a modest half-percent gain as the Dollar lost steam from its record highs on Thursday. The break in the safe-haven asset comes after a precipitous drop of more than $90, or nearly 5%, from Friday’s session highs of above $1,968. However, investors question whether the yellow metal’s turnaround […]

Global shares fell while the Dollar continued its gains earlier on Thursday as investor remained wary of another potential economic hit due to the COVID-19 pandemic, ahead of German sentiment data and speeches from officials from various central banks. The infection rate in Europe has begun to rise sharply, with a number of countries including […]

Gold continued its descent earlier on Wednesday as the Dollar carried on with its rally. Spot gold, which reflects real-time trades in bullion lost 2.1% ($39.64), trading at $1,860.62 per ounce by 3:12 PM ET (1512 GMT). It dipped to a record low of $1,856, its worst in two months. U.S. gold futures for the […]

The dollar hit a two-month high on Thursday as concern over Europe’s and the United States’ resilience to economically recover from the coronavirus pandemic grew.  The dollar benefited from another surge in European coronavirus cases as it boosted a safe-haven bid. Meanwhile, Federal Reserve policymakers encouraged the U.S. government to release more fiscal stimulus, prompting […]

Oil futures slid on Thursday on fears that U.S. economic recovery is stalling as the coronavirus crisis lingers and a resurgence in European infections prompted new travel restrictions. Market worries prompted a rally in the dollar as investors turned to safety, adding pressure to oil prices.  U.S. West Texas Intermediate crude futures slid 0.9%, or […]