Economic news

The euro held onto gains against the dollar on Thursday as markets awaited the European Central Bank’s meeting to get clues on the policymakers’ views on the single currency’s rise and its effect on inflation. The pound steadied above a six-week low but could slide deeper due to the escalating possibility that the EU-UK post-Brexit […]

Oil futures fell in early Thursday trade on worries about fuel demand after U.S. crude inventories climbed last week against analysts’ expectations and coronavirus cases continued to spike globally. Brent crude futures fell 0.3%, or 14 cents, at $40.65 per barrel following a 2.5% gain on Wednesday.  U.S. West Texas Intermediate crude futures slid 0.5%, […]

On Wednesday, Tiffany & Co (TIF.N) reported that it would sue the world’s largest luxury goods group LVMH Moët Hennessy Louis Vuitton (LVMH.PA) after pulling out from its $16 billion acquisition deal. According to LVMH’s Chairman and Chief Executive Officer Bernard Arnault, the board of directors received a highly unusual request from the Ministry of […]

On Wednesday, United Parcel Service Inc. (UPS.N) announced that it plans to hire more than 100,000 extra workers for the winter holiday season to help handle an increase in packages. The logistics company said that retailers are stretching out to avoid delivery network traffic due to the overwhelming amount of orders from online shopping. According […]

European stock markets opened slightly higher earlier on Wednesday after news of a potential delay in a COVID-19 vaccine and a slump in U.S. tech stocks ahead of the European Central Bank’s (ECB) policy meeting on Thursday. Germany’s DAX futures rose 1.1%, while CAC futures in France gained 0.9%. FTSE futures in the United Kingdom […]

U.S. stocks were on track to open lower, with technology stocks to continue last week’s slump as investors took a step back to reevaluate their position after a string of strong gains recently. S&P500 futures fell by 0.6% (21 points), while Dow futures slipped by 0.1% (20 points). Nasdaq Futures saw its worst hit, falling […]

August had seen China’s factory gate prices dropping at their most gradual pace in five months. This could be attributed to the sustained recovery in the world’s second-biggest economy, with its industries emerging steadily from the coronavirus drag. The country’s producer price index (PPI) recorded a 2.0% decline in August, the National Bureau of Statistics […]

  Asian share markets declined on Wednesday, while oil prices recorded lows last monitored in June. The series of declines came after a selloff in technology shares dragged Wall Street for three consecutive days and a major drugmaker postponed vaccine trials. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.06% decline. Australian shares […]

The dollar gained ground on Wednesday as a decline in the stock market prompted a sell-off of risky currencies. Meanwhile, worries about the EU-UK post-Brexit talks pushed the pound to a new six-week low. The dollar index bounced nearly 2%, while the safe-haven yen rose to a one-week peak of 105.83 on the dollar. In […]

Oil futures fell further on Wednesday after a steep decline in the last session. This came after a surge in new coronavirus cases in some countries offset hopes for a steady fuel demand recovery. Brent crude fell 0.5%, or 19 cents, at $39.59 per barrel. It dropped over 5% on Tuesday to trade below $40 […]