Economic news

On Wednesday, Virgin Australia Holdings Ltd (VAH.AX) announced that it would return a third of its fleet of Boeing Co (BA.N) 737 planes to lessors and financiers as part of a restructuring deal under its new owner Bain Capital. “With the changes to simplifying our fleet and ongoing subdued customer demand, we have been required […]

On Wednesday, Baidu (BIDU.O) and its investors reported that it would raise $2 billion over three years for a biotech startup. The Chinese multinational technology company said that it would use Artificial Intelligence (AI) technology to discover new drugs and diagnose diseases. WeDoctor (0700.HK), Alibaba’s (BABA.N) healthcare arm, and Ping An Good Doctor (1833.HK) said […]

The dollar held on to overnight gains on Tuesday as investors weighed whether a policy shift from the European Central Bank could hit the euro, while the pound fell due to Brexit uncertainty. The dollar rose 0.2% against its peers. Against the euro, the greenback rose to $1.1816. The Aussie climbed 0.1% to $0.7280, while […]

Oil prices were mixed in early Tuesday trade over demand concerns and a surge in COVID-19 cases following the U.S. Labor Day long weekend, the peak U.S. driving season. 22 out of 50 U.S. states reported a spike in coronavirus cases on the holiday weekend, while India and Britain also posted higher cases. U.S. West […]

On Tuesday, the International Consolidated Airlines Group (IAG) reported that it had obtained the necessary regulatory approvals to continue flying their planes if no free-trade deal would be agreed between the United Kingdom and the European Union. “In compliance with the European Union connectivity regulation last year, our airlines submitted their plans on ownership and […]

On Tuesday, ByteDance’s TikTok announced that it would join the European Union’s voluntary code of conduct to combat illegal hate speech on social media websites. “It’s good that TikTok joined the code – a company favored by young users who are particularly vulnerable to online abuse and illegal hate speech. Of course, I expect TikTok […]

European stock markets were up slightly earlier on Tuesday ahead of the European Central Bank’s (ECB) policy meeting expected on Thursday. Germany’s DAX futures were up by 0.2% at 02:05 AM ET (0605 GMT), while France’s CAC futures inched up by 0.3%. In the UK, FTSE contracts were seen rising by 0.4%. Investors are eyeing […]

Gold prices continued its descent earlier on Tuesday in Asia as the Dollar continued to pick up momentum. However, the yellow metal’s losses remained limited amid economic worries due to the COVID-19. Gold futures lost 0.14%, exchanging hands at $1,931.45 by 12:37 AM ET (0537 GMT) after reaching a high of $1,945.90 on Monday. Gold’s […]

The second quarter had seen Japan’s virus-beaten economy slipping further into its sharpest postwar recession. This came after businesses in the country were monitored struggling worse than previously estimated, highlighting the pressing challenge the new prime minister faces to save the ailing economy. The world’s third-biggest economy recorded a 28.1% contraction from April to June. […]

Asian share markets and U.S. stock futures advanced on Tuesday. This followed after European markets made a minimal rebound, with investors weighing if high-flying U.S. technology-related shares could recuperate from their recent retreat. Japan’s benchmark index Nikkei recorded a 0.4% gain. This came after revised data confirmed that the country slid into its sharpest postwar […]