Economic news

On Wednesday, the New Zealand stock exchange (NZX.NZ) has been shut down because of a severe cyberattack from overseas. Cash market trading was halted after the cyberattack took down the NZX website just before 9:30 AM AEST. The NZX said that it had experienced “network connectivity issues” and that the NZX main board, NZX debt […]

On Tuesday, Palantir Technologies announced that it would file for a direct listing on public markets. The data analytics company said that it aims to trade on the New York Stock Exchange (NYSE) under the symbol PLTR. Palantir Technologies had been working with the Central Intelligence Agency (CIA) and other government agencies to prepare for […]

Financial markets were given a boost on Tuesday after top U.S. and Chinese trade officials have reaffirmed their commitment to the Phase 1 trade deal after months-long disputes. The deal was made through a phone call between U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The call […]

European shares were slightly higher on Tuesday after market sentiment was boosted by optimism with a potential COVID-19 vaccine. A report by the Financial Times stipulated that the U.S. had fast-tracked a potential COVID-19 treatment developed by the University of Oxford and AstraZeneca to be ready before the November elections. European shares opened higher, with […]

The dollar fell, while the Aussie and the yuan rose after top U.S. and Chinese trade negotiators reported progress on the Phase 1 trade deal talks over a phone call. The news reassured investors that the trade relationship between the two countries will stay intact despite diplomatic tensions. The yen was up 0.2% to $106.17. […]

Crude oil prices were mixed on Tuesday as massive output cuts in the U.S. Gulf Coast due to Tropical Storms Marco and Laura weighed amid the pandemic. Brent crude oil futures rose 0.3%, or 14 cents, at $45.27 per barrel. U.S. West Texas Intermediate crude lost 0.1%, or 4 cents, at $42.58 per barrel. Energy […]

Alibaba’s Ant Group, formerly known as Alipay, announced on Tuesday that it would file for an Initial Public Offering (IPO). The financial technology company said that it would have a dual listing in Hong Kong and on Shanghai’s Nasdaq style STAR Market. The Ant Group stated that the listing could raise as much as $30 […]

On Tuesday, J.M. Smucker Co. (SJM.N) reported that it managed to beat its first-quarter sales estimates in light of strong demand for coffee, frozen sandwiches, and fruit spreads. The Jif peanut butter maker announced that it would raise its revenue forecast for the fiscal year 2021. According to Institutional Brokers Estimate System (IBES) data from […]

The S&P 500 and the Nasdaq closed sessions with new record highs on Monday. The jump made by Wall Street’s major indexes could be attributed to investors’ upbeat sentiment over medical breakthroughs to combat the coronavirus. The benchmark index S&P 500 reclaimed its February peak last week. This indicated a bullish momentum and the most […]

Australia had monitored a 1% decline in employment over the month ended Aug. 8, data showed on Tuesday.  Meanwhile, job prospects were seen slumping the most in the southeastern state of Victoria as it struggles to contain a surge in new coronavirus cases. The recent decline in employment underscored the worsening problems in the labor […]