Economic news

Oil is seeing signs of recovery after its mid-week tumble. The market is is yet again faced with a struggle in its attempt to keep an upside momentum, with some news factoring in with profit taking. The growth could have gone further, however, when a number of technical levels slipped, it spiralled down from there. […]

The dollar steadied against its peers on Friday as investors await key U.S. jobs data to get clues about the strength of U.S. economic recovery from the pandemic. The dollar managed to stop its recent slip, but analysts warned against the dominating weak sentiment for the greenback amid doubts on U.S. economic growth and lower […]

Oil futures slid 1% on Friday, with prices on course for their steepest weekly drops since June. This came just as weak demand and sizable fuel supplies offset support from a weak dollar. Brent crude lost 44 cents to $43.63 per barrel. U.S. West Texas Intermediate fell 43 cents to $40.94 per barrel, on course […]

On Friday, Amazon Inc. (AMZN.O) said that it had submitted a plan to Japan’s fair trade regulators on how it would improve its services. According to The Asahi Shimbun newspaper, the move was made to avoid violating anti-trust rules. It added that the improvement plan includes a refund to suppliers who were pressured to pay […]

On Friday, Virgin Atlantic announced that it would slash 1,150 jobs and put another 600 cabin crew on extended furlough due to a slow recovery in the global travel demand. The British airline said that the U.S. court signed off the restructuring deal worth £1.2bn on Thursday night. “Together, we have achieved what many thought […]

The month of August yielded declining job growth figures in the United States as financial assistance from the government was all used up after six months of battling the coronavirus crisis. The economy’s recovery is now feared to be halted. The U.S. Labor Department’s released employment report on Friday nailed the expectations of low turnout […]

The growth monitored in the services sector of the United States slowed in August. This followed after the effects of economic resumption and fiscal stimulus failed to maintain the growth’s momentum. The country’s non-manufacturing activity index placed 56.9 in August, according to the Institute for Supply Management. While it came lower than the 58.1 reading […]

Friday marked Asian share markets’ weakest performance in two weeks. The decline followed after Wall Street monitored a tech-driven drop. However, earnings in safer assets remained subdued as investors awaited if employment data from the United States would result in a larger selloff. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.6% decline. […]

The Dow traded significantly higher on Wednesday, closing above a record 29,000 points investors as signs of an easing labor market. The Dow Jones Industrial Average gained 1.59% (453 points) to 29,099 points for the first time since February 20 as utilities led the rally. Meanwhile, the S&P500 and the Nasdaq Composite gained 1.56% and […]

Gold prices closed slightly higher on Thursday after it saw a steep slump during an earlier session as a weakening Dollar and a dampened global economic outlook added the shine to the yellow metal. Gold futures inched up by 0.19%, trading at $1,948.25 at 12:35 AM ET (05:35 AM GMT). Meanwhile, the Dollar fell by […]