Economic news

The Dow Jones index ended the session on a lower note on Monday, with energy and industrial stocks taking the brunt of the force. However, previous gains made in the month was seen as the best August performance since 1984. The Dow Jones Industrial Index slipped by 0.78% (223 points), with the lowest being a […]

Gold prices rose slightly on Monday, renewing hopes that the yellow metal could return to its $2,000 perch despite a string of losses in August. Gold futures for December delivery on Comex last traded at $1,978.60 per ounce, rising by $3.70 (0.2%) and reaching a session high of $1,985.30 an ounce. However, the gains made […]

The dollar is set to fall for the fourth straight month on Monday, its longest losing streak since 2017. The yen steadied after news that Prime Minister Shinzo Abe’s longtime lieutenant Yoshihide Suga joined the race to succeed him as Japan’s leader. The Japanese yen fell 0.2% to $105.55 in early morning trade. It rose […]

Oil prices rose on Monday with Brent futures on course for a fifth monthly gain as global stimulus measures supported prices despite the weak demand in a well-supplied market. Brent crude futures for November gained 0.6%, or 27 cents, at $46.08 per barrel. U.S. West Texas Intermediate crude climbed 0.3%, or 14 cents, at $43.11 […]

On Monday, Danske Bank (DANSKE.CO) reported that it collected outdated or excessive debt from its 106,000 customers due to errors in its computer systems. “Due to data quality issues, Danske Bank has collected more debt from debt collection customers than the bank was entitled to,” Danske Bank’s spokesman said in an interview with Reuters. Denmark’s […]

On Monday, Philips (PHG.AS) announced that the U.S. Department of Health canceled a bulk order of 43,000 hospital ventilators leading the Dutch medical equipment maker to cut its 2020 earnings outlook. The termination was based on the July 2020 report by the U.S. Congress House Subcommittee on Economic and Consumer Policy. The report stipulated that […]

July had seen Japan’s factory output advance at its fastest pace on record. Automobile and car components fuelled the jump, suggesting a modest recovery from the coronavirus crisis. Japan’s industrial output advanced 8.0% in July, placing higher than the 1.9% record seen in June. The reading also came higher than the 5.8% growth estimated by […]

Asian shares recorded a 29-month peak on Monday. This followed after investors’ sentiment grew on optimism that global monetary and fiscal policies would stay effective. Meanwhile, China’s services sector advanced, indicating that the country maintained its recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.5% gain, reaching its highest level since March […]

On Friday, Coca-Cola Co (KO.N) announced that it would cut its operating units and offer voluntary separation to its 4,000 employees in the United States as the world’s largest beverage maker suffers a decline in sales growth due to the coronavirus pandemic. The American multinational beverage corporation stated that it would have nine operating units […]

On Friday, SoftBank Group Corp (9984.T) announced that it would cut its exposure to wireless carrier SoftBank Corp (9434.T) in a share sale worth 1.47 trillion Yen ($13.8 billion). SoftBank Group’s Chief Executive Officer Masayoshi Son said that he had been selling the group’s core assets to stabilize its balance sheet while funding a record […]