Economic news

The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy contracted by nearly a quarter between February and May with some economists predicting that […]

Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s rise came after Japan’s economy is bottoming out from its steepest decline, with the government considering restarting the economy while preventing a second […]

June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from the coronavirus pandemic. Japan’s factory output advanced 2.7% in June, official data showed on Friday. This followed after it plunged to its […]

Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound in China and Japan’s manufacturing activities. MSCI’s broadest index of Asia-Pacific shares outside Japan erased initial earnings after dropping […]

Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 per barrel by 11:58 PM ET (0358 GMT), on course for a four-month high. It closed 1.9% […]

The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course to post its biggest fall for the month in nearly a decade. The […]

On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter of the year, some dealers decided to decrease their machine and engine inventories worth $1.4 billion. The construction machinery […]

On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company’s standalone listing in Hong Kong or Shanghai might value its China businesses to more than $100 billion. According to a reliable source, ByteDance would research more options […]

European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost 0.4% at 03:13 AM ET (0713 GMT), weighed down by banking stocks and automakers which fell by […]

Thailand’s finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s head of fiscal policy Lavaron Sangsnit also told a news conference that their forecast for […]