Economic news

Simon Property Group (SPG.N), the largest mall owner in the United States, stated on Monday that it was struggling from the surging coronavirus outbreak in big states including California, Texas, and Florida. The company said that people were scared to go to newly reopened malls which severely affected the retail industry and market sales. Simon […]

On Monday, the United Kingdom’s privacy watchdog, the Information Commissioner’s Office (ICO), said that it would investigate Barclays Plc. (BARC.L) over allegations that the bank spied on its staff. The bank has been accused of keeping tabs on its staff members during work hours after a system change to track how employees spent their time […]

Switzerland’s unemployment rate eased in July from June, but figures are still up 53% year-on-year, according to the data released on Monday. The jobless rate steadied from June at a non-seasonally adjusted 3.2%, with 148,870 people recorded as unemployed, the State Secretariat for Economic Affairs (SECO) said. SECO also reported on the shorter working hours […]

The U.S. Dollar was on track to take back lost ground on Monday after it saw a record streak of losses since a decade as the market fell short of the currency. A better-than-expected payrolls report on Friday gave the Dollar a much-needed boost, pushing U.S. Treasury yields higher into this week’s massive $112 billion […]

The United States government should release another coronavirus fiscal aid to support workers staying at home while the coronavirus outbreak continues to harm businesses, said Chicago Fed President Charles Evans in an interview. Evans said that protecting small businesses and communities to ensure that they can buy food and pay rent is up to U.S. […]

Oil prices rose earlier on Monday, recovering a portion of losses from last week’s session as the U.S. closed in on a stimulus deal. Iraq pledging to further cut its crude oil production also improved market sentiment. U.S. West Texas Intermediate (WTI) crude futures gained 1.2% (49 cents), trading at $41.71 per barrel at 08:10 […]

July had seen China’s factory deflation slowing. This was mainly from an increase in global oil prices and as industrial activity reversed towards pre-pandemic levels, suggesting signs of rebound in the world’s second-largest economy. China’s producer price index (PPI) dropped 2.4% from a year ago in July, the National Bureau of Statistics (NBS) said. The […]

Asian stocks recorded a cautious session on Monday as tensions between China and the United States dragged investors’ sentiment. However, signs of recovery in China’s industrial sector minimized losses.   MSCI’s broadest index of Asia-Pacific shares outside Japan had a turbulent session. Despite this, the index held in small ranges to retain below a 6-1/2 […]

Oil prices dipped earlier on Friday, continuing losses from the previous session as the COVID-19 situation worsened, stalling U.S. talks for a much-anticipated stimulus deal. U.S. West Texas Intermediate (WTI) crude futures fell by 2 cents, trading at $41.93 per barrel by 10:46 PM ET (0246 GMT), while Brent crude futures dipped by 0.1%, last […]

Asian stocks traded lower earlier on Friday as new tensions mounted between the U.S. and China. Recently, U.S. President Donald Trump issued executive orders to halt businesses from ByteDance, the owner of video-sharing app TikTok, and Tencent, owner of the WeChat app from operating within the country after 45 days. Trump added that the orders […]