Economic news

The dollar fell against most majors on Thursday amid weakening hopes for an agreement between Republicans and Democrats over a new coronavirus fiscal aid to support the U.S. economy. The dollar was at a disadvantage following a decline in Treasury yields. However, analysts say that this setback will only be temporary because U.S. lawmakers are […]

Crude oil prices slid on Thursday but held most of their gains from the last session after U.S. government data reported a decline in inventories. This supported the market’s view that fuel demand recovery is pushing through despite the pandemic. Brent crude fell 8 cents to $45.35 per barrel after gaining 2% on Wednesday. U.S. […]

Assistant Minister of Commerce Ren Hongbin announced on Thursday that China would ask the United States to stop taking restrictive and discriminatory action against Chinese companies. Hongbin also said that the U.S. should create conditions for the Phase 1 trade deal implementation. Senior U.S. and Chinese administrators were scheduled to review the Phase 1 deal […]

European airlines lowered their recovery outlook on Thursday due to prolonged travel restrictions and concerns about the second wave of the coronavirus outbreak. The International Air Transport Association (IATA) warned European states on imposing new travel restrictions due to new coronavirus cases. According to IATA, European passenger numbers were expected to decline by 60% this […]

According to a White House document seen by Reuters on Wednesday, United States President Donald Trump would sign an executive order to permanently ban ByteDance’s short-video app TikTok from Google (GOOGL) and Apple (AAPL) app stores. “Prohibited transactions may include, for example, agreements to make the TikTok app available on app stores … purchasing advertising […]

On Wednesday, China’s gaming and social media giant Tencent Holdings Ltd (00700.HK) announced that its second-quarter net revenue was up by 37% worth 114.88 billion CNY. The multinational conglomerate holding company said that it managed to beat analysts’ expectations due to strong demand for in-home entertainment options and fast growth of its gaming business. “In […]

Telecoms stocks lifted European bourses on Wednesday after Liberty Global launched a buyout offer for Sunrise Communications. Meanwhile, London’s FTSE 100 rose on bets of domestic stimulus following a decline in economic output for the second quarter. The pan-European STOXX 600 climbed 0.2%, its fourth straight day of gains. Sunrise Communications rose 26.8% after Liberty […]

Oil prices rose on Wednesday after U.S. crude inventories dropped more than analysts expected, strengthening hopes of a fuel demand recovery in the world’s biggest economy. Brent crude rose 0.3%, or 15 cents, at $44.65 per barrel. U.S. West Texas Intermediate oil gained 0.2%, or 9 cents, at $41.70 per barrel. The American Petroleum Institute […]

The second quarter had seen Australian wages expanding at the most gradual pace on record, highlighting the damage inflicted by the pandemic on household spending.  This followed after recent data showed weak consumer confidence and struggling business conditions. The official wage price index (WPI) recorded a 0.2% increase in the three months ended June, the […]

Asian share markets recorded a weak session on Wednesday. This was mainly from growing uncertainty over whether or not lawmakers from the United States would approve an additional fiscal stimulus to alleviate the virus-beaten economy. Encouraging news about vaccine development prompted some investors to slash safe-haven assets such as gold and government bonds. In addition […]