Economic news

European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were down by 24.1% when compared to a year ago, with new registrations reaching around 1,131,843 vehicles in countries located […]

After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus crisis. China’s gross domestic product (GDP) grew 3.2% in the second quarter from a year earlier, the National […]

On Thursday, the international market had seen a plummet in the value of Asian shares and U.S. stock futures. It is seen to be caused by worries of a falling-out between the United States and China as well as the hit that global economies had taken with the resurgence of COVID-19 infections. China’s unexpected economic […]

On Thursday, the European Court of Justice (ECJ) rejected the validity of the data transfer mechanism used by the European Union and the United States which could facilitate the transfer of data from both countries. The data transfer tool permits the U.S. intelligence services to access such data for national security reasons. “In respect of […]

China’s Commerce Ministry stated on Thursday that it would take the ‘necessary’ measures in response to the United Kingdom’s ban on Huawei Technologies Co Ltd (HWT.UL). The government agency said that it would severely damage China’s investment confidence in the country. “China is evaluating the U.K. actions that have betrayed free trade principles and will […]

SensorTower announced on Wednesday that Apple (AAPL) removed more than 2,500 games from the China App Store in the first week of July. The move came after the U.S. tech giant closed a loophole to comply with China’s license requirements. Apple set a deadline for revenue-generating games to submit government-issued license numbers that would allow […]

On Tuesday, United States Federal Reserve officials warned a “thick fog of uncertainty” on the U.S. economy as it slowly recovers amid the surge in coronavirus cases. The U.S. central bank stated that the pandemic’s second wave would cause economic pain to deepen again. The U.S. coronavirus cases rose in 46 out of 50 states […]

Gold prices were down slightly on Wednesday in Asia, losing gains made in a previous session. However, the safe haven asset’s losses remained limited as COVID-19 worries mounted on top of worsening U.S.-China relations. Gold futures slipped by 0.11% to $1,811.35 per ounce at 11:44 PM ET (4:44 AM GMT), still keeping above the $1,800 […]

Property data and analytics company CoreLogic Inc on Tuesday rejected another $7 billion buyout offer, seeing it inadequate after meeting with the two bidders, investment firms Cannae Holdings Inc and Senator Investment Group LP. Cannae and Senator, which both hold an economic interest of almost 15% in CoreLogic, had proposed to buy the company for $65 […]

Asian share markets advanced on Wednesday as growing hopes about a coronavirus vaccine supported risk appetite. Meanwhile, the euro reached its four-month peak backed by the prospect of stimulus ahead of a crucial EU meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan soared 1.2% as it approached a recent five-month high record. Japan’s benchmark […]