Economic news

On Thursday, Netflix Inc. (NFLX.O) promoted the architect of its programming strategy Ted Sarados to the role of co-chief executive officer. Netflix’s Chairman and Chief Executive Officer Reed Hastings announced that Ted would be his successor. “Ted has been my partner for decades. This change makes formal what was already informal — that Ted and […]

Asian markets are poised to start with a firmer tone on Friday, disregarding an overnight decline in U.S. stocks. The decline was mainly from the United States’ move of debating new economic stimulus in a bid to salvage the virus-beaten economy. Australian S&P/ASX 200 futures advanced 0.23% in early trading. Japan’s Nikkei 225 futures soared […]

June had seen Singapore’s non-oil domestic products advancing 16.1% from a year earlier. The reading managed to place above estimates backed by strong activity in shipments of pharmaceuticals, specialized machinery, and electronics, official data showed on Friday. The country’s exports recovered from a revised 4.6% contraction seen in May. The figure placed higher than the […]

Gold prices traded lower in Asia on Friday morning amid hopes for COVID-19 vaccines from the U.S. and U.K. bolstered investor appetite. Sentiment was further boosted with the European Central Bank (ECB) signaling that it may leave interest rates and stimulus unchanged in the near future. Gold futures slipped by 0.12% to $1,798.15 per ounce […]

Major Japanese banks saw record demand for the corporate loans that were offered since April as the COVID-19 pandemic continues to have companies rushing in to build up cash reserves, according to a central bank survey on Friday. The figures underline the extent of the damage the coronavirus and measures to contain the outbreak have […]

The dollar firmed against its peers as concerns that a resurgence of the coronavirus will restrict economic activity lifted the safe-haven demand for the U.S. currency. The yuan suffered declines in the past three weeks as the diplomatic tensions between the United States and China worsened. The euro was supported by hopes that EU officials […]

Oil prices steadied on Friday as the market was filled with uncertainty on fuel demand recovery. This came after coronavirus cases continued to surge while major oil producers began to loosen output cuts. U.S. West Texas Intermediate crude futures gained 1 cent to $40.76 per barrel. Brent crude futures steadied at $43.37 per barrel. Both […]

European stocks sold lower earlier on Thursday as concerns mounted over the pace of a global economic recovery ahead of latest meeting from the European Central Bank (ECB). Germany’s DAX futures fell by 0.5% at 2:05 AM ET (0605 GMT), while FTSE futures in the UK dipped by 0.4%. In France, CAC futures sold 0.4% […]

The dollar firmed on Thursday as a decline in Chinese retail sales worried investors, while the rest of the market anticipates the EU summit this weekend. The euro was down 0.1% to $1.1401, while the dollar stood at 106.95 on the yen. The British pound fell 0.3% to $1.2548.  Over the weekend, European countries are […]

Oil prices fell on Thursday after OPEC+ agreed to lessen output cuts from August, though the decline was dampened by a recovery in demand as U.S. crude stocks had an unprecedented drop. Brent crude slid 0.3%, or 13 cents, at $43.66 per barrel. U.S. West Texas Intermediate crude fell 0.4%, or 18 cents, at $41.02 […]