Economic news

The dollar steadied in early Asian trade on Friday after sliding overnight on bleak economic outlook due to weak U.S. data. The safe-haven yen stabilized after climbing against the dollar and the euro the previous day. The dollar lost gains after the Federal Reserve revised its 2020 GDP forecast. It last stood at 92.866 against […]

Oil prices fell on Friday following three straight days of gains as producers took steps to reopen production in the U.S. Gulf and Saudi Arabian oil exports rose from record lows. Brent crude slid 6 cents to $43.24 per barrel, while U.S. oil futures fell 6 cents to $40.91 per barrel. Both contracts climbed sharply […]

On Thursday, United Parcel Service Inc.’s (UPS.N) Chief Executive Officer Carol Tomé announced that the company plans to propose buyouts to management employees to curb production costs. The American multinational package delivery company said that it would present the buyouts to qualifying management in non-operation roles on Friday. According to a reliable source, employees would […]

On Friday, Ericsson (ERICb.ST) announced that it has agreed to buy CradlePoint Inc. in an acquisition deal worth $1.1 Billion. The Swedish multinational networking and telecommunications company said that the deal would create valuable new revenue streams for its customers by supporting full 5G-enabled services. “The investment is key to Ericsson’s ongoing strategy of capturing […]

While there was a decline on Wall Street, Asian shares still advanced on Friday. However, shares were restricted from gaining further as worries about a dwindling economic rebound made investors cautious and prompted them to resort to safer assets. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.2% gain. The index is set […]

August had seen Japan’s core consumer prices dropping at the fastest pace in almost four years. The drop could be attributed to government-sponsored discounts for domestic travel in a bid to salvage the struggling tourism industry. The core consumer price index (CPI) recorded a 0.4% contraction in August from a year ago, government data showed […]

European stocks traded lower earlier on Thursday after investor sentiment dampened due to the U.S. Federal Reserve’s recent decision to not add further stimulus packages. Germany’s DAX futures lost 0.7% at 2:05 AM ET (0605 GMT), while France’s CAC futures fell by 0.6%. FTSE futures in the U.K. lost 1.2%. In conclusion to its two-day […]

The Dow retreated from a portion of gains made from a previous session on Wednesday after a rally in the tech sector showed signs of losing steam. The Dow Jones Industrial Average gained 0.47% (130 points), while the Nasdaq Composite lost 0.65%. The S&P 500 remained mostly unchanged. The gains in tech stocks slowed after […]

The dollar rebounded across the board on Thursday, reporting its biggest daily gain in over a week as the Federal Reserve’s decision to keep interest rates on hold in the coming weeks prompted a wave of short positions for the greenback. Still, the Fed’s decision disappointed some investors who had bet on a more dovish […]

Oil prices slid on Thursday following two straight days of gains. This came after worries about fuel demand were reinforced by reopening production in the U.S. Gulf following Hurricane Sally’s passage. Brent crude futures dropped 0.8%, or 36 cents, at $41.86 per barrel after rising 4.2% on Wednesday. U.S. West Texas Intermediate crude futures fell […]