Economic news

Japan retail sales fell a double-digit pace for the second month in May as the coronavirus pandemic heavily affected consumer confidence and hopes for economic recovery. Retail sales dropped 12.3% in May year-on-year as the downturn in demand hinted at a longer recession for the world’s third-largest economy. The decline followed a 13.9% fall in […]

The dollar firmed, while risk currencies fell under pressure as investors doubted the economy would recover soon amid a surge in new coronavirus infections around the world. As the United States posted record levels of fresh cases each day, the dollar held on to last week’s gains. Meanwhile, risk currencies Aussie and kiwi fell to […]

The European aviation Airbus (AIR.PA) announced on Monday that its airplane production and deliveries would be 40% lower for the next two years compared to its planned pre-crisis strategy. The CEO’s comments underscore the threat to jobs as it draws up rapid restructuring plans because of the global travel slump. “It’s a brutal fact, but […]

On Monday, Japanese car manufacturers reported a 38% decline in their global sales last month. Most car factories and dealerships remained closed due to the coronavirus outbreak. Japan’s biggest car manufacturer Toyota Motor Corp. (7203.T) just sold 609,460 vehicles last month. Nissan Motor Co’s (7201.T) sales fell by 37.3% or 272,873 units while Honda Motor […]

The western Japan prefecture may take two more years to recuperate from the damage of the novel coronavirus crisis. The forecast was rendered by Tetsuya Kan, head of a major regional bank in Osaka, as the pandemic ransacked the city’s once upbeat tourism and retail sectors. “The fate of the region’s economy depends on how […]

Vietnam’s economic growth slowed to a total of 0.36% in the second quarter. The reading came to be the slowest pace in decades and it could be attributed to the disruptions brought by the novel coronavirus pandemic. The country’s gross domestic product in April to June quarter hit 0.36% from a year earlier. This came […]

Gold prices last traded closer toward $1,800 per ounce, making it the highest level reached since late 2011 as demand for the yellow metal surged amid worries over the growing COVID-19 cases worldwide. According to data from Johns Hopkins University, virus-related deaths have reached over 500,000 worldwide with the number of confirmed cases exceeding almost […]

Asian stocks fell earlier on Monday as the surge in COVID-19 cases in several countries dampened hopes for a quick economic recovery. The total number of cases worldwide has reached over 10 million, resulting in over 500,000 deaths as of June 29 according to data from the Johns Hopkins University. China’s Shanghai Composite fell by […]

BMW’s head of influential work council said that they must head toward a technology platform specifically for electric cars, moving away from only developing cars that can be refitted with either electric or combustion engines. “Only with our own e-architecture can we fully exploit the advantages of an electric vehicle,” Manfred Schoch told Der Spiegel […]

European stocks ended the week on a stronger note, with FTSE shares leading the rally, after European Central Bank (ECB) President Christine Lagarde said that the worst of the pandemic was over. However, Lagarde cautioned that there could still be a possibility of a “severe second wave”. Europe may be set to outperform U.S. markets […]