Economic news

The dollar fell against its peers on Friday ahead of the release of the U.S. non-farm payrolls data, which investors fear could strengthen the view that momentum in the U.S. economy is slowing. Sentiment firmed against the dollar due to rising U.S. coronavirus cases, a steady decline in Treasury yields, and a stalling of the […]

The Reserve Bank of New Zealand is expected to hold rates steady at its Wednesday policy meeting amid signs of economic improvement. The central bank is also likely to release its plans for future policy action as it arms the country against the impact of the pandemic. Most economists predict New Zealand’s official cash rate […]

On Friday, British Airways announced that it would slash its workforce of roughly 12,000 jobs to survive a collapse in travel demand as a result of the coronavirus pandemic. According to the airline company, more than 6,000 workers decided to take voluntary redundancy. The International Airlines Group (ICAG.L), which owns the British Airways, said that […]

On Thursday, the Intercontinental Exchange Inc. (ICE.N) (ICE) announced that it would acquire mortgage-software company Ellie Mae (ELLI) from private equity firm Thoma Bravo LLC. in a purchase deal worth $11 billion including debt. ICE is also the company that owns the New York Stock Exchange (NYSE). The financial market company said that it expects […]

Early Friday saw Oversea-Chinese Banking Corp OCBC, the second-largest lender hailing from Singapore reporting a 40% drop in its second quarter net profit. The report came as a surprise as it had been larger than the lending entity’s initial forecast. The bank disclosed that the drop is owed from the loan-loss provisions in a market […]

The Bank of England said on Thursday that the U.K. economy will take a slower pace to recover as it faces pressing risks including surging unemployment claims and a second wave of coronavirus infections. The longer-than-expected economic recovery of the UK is anchored to the central bank’s projection of a 9.5% shrink in the GDP […]

According to Goldman Sachs Group Inc.’s (GS) analysts, investors should consider the risk of a successful coronavirus vaccine that could upend markets by using different strategies including sell-off in bonds and rotation out of technology stocks into growth-linked cyclical stocks. “This kind of timeline could see a substantial boost to GDP [gross domestic product] relative […]

European stocks edged lower on Thursday while investors were waiting for signs of agreement on the United States stimulus package. The pan-European STOXX 600 (SXXP) fell by 0.2% after the market’s opening while the German DAX traded flat by 27.9%. The Frankfurt Stock Exchange (FSE) was up by 0.2% as investors digested a new batch […]

The dollar remained weak while most currencies gained on Thursday as the patchy U.S. economic data was perceived by markets as a precursor to more stimulus measures and the brinkmanship on Capitol Hill an indicator that a new U.S. coronavirus stimulus aid is close. MSCI’s broadest index of Asia-Pacific shares outside Japan surged 0.3% to […]

Oil prices were generally flat on Thursday as the unexpected support from U.S. crude stocks that lifted the market to five-month highs in the last session yielded to fuel demand fears amid surging COVID-19 cases. U.S. West Texas Intermediate crude futures fell 0.1%, or 3 cents, at $42.16 per barrel. Brent crude futures climbed 0.2%, […]