Economic news

Oil prices held steady on Tuesday, remaining unchanged from gains in the previous session after demand for fuel showed signs of picking. Brent crude rose by 6 cents to $43.14 per barrel at 0046 GMT after previously gaining 2.1% on Monday. U.S. oil rose by 8 cents to $40.81 per barrel after having risen by […]

The euro and its peers gained on Tuesday following White House trade adviser Peter Navarro’s claim that his comments on the U.S.-China trade deal were taken out of context. The euro gained 0.3% to $1.1306, its one-week high after its overnight volatility rose to almost 10%.  The Australian dollar was up 0.3% to $0.6928, its […]

Asian shares were in rocky trade on Tuesday after the confusing statements made by the White House over the U.S.-China trade deal. President Trump also clarified that the pact between the two countries was “fully intact.” S&P 500 e-minis were back in positive territory as the market sentiment rose. MSCI’s broadest index of Asia Pacific […]

Gold prices fell earlier on Tuesday in Asian trade, retreating from an earlier rally on the back of Washington’s comments on the U.S.-China trade deal. White House trade advisor Peter Navarro temporarily spurred worries from investors on Monday after he said that the trade deal with China was “over”. However, Navarro later added that his […]

Great Britain’s automobile industry called on the government to provide additional measures such as sales tax reduction. This aims to lift the suffering sector as a third of automotive employees remain furloughed due to the novel coronavirus pandemic. Car and van volumes are likely to drop by a third to 920,000 units this 2020 while […]

SoftBank Group Corp. (9984.T) announced on Monday that it would sell up to 198 Million shares of the U.S. wireless carrier T-Mobile U.S. Inc. (TMUS.O) worth $21 billion. The telecom company revealed a series of transactions to seek funds for a $41 billion share buyback and debt reduction plan. T-Mobile shares were down by 1.5% […]

On Monday, German payment service provider Wirecard (WDI) said that the 1.9 billion Euros ($2.1 billion), which were supposed to be held in two accounts, probably do not exist. “The Management Board of Wirecard assesses on the basis of further examination that there is a prevailing likelihood that the bank trust account balances in the […]

June had seen Japan’s manufacturing activity struggling at an 11-year low.  This indicated that the novel coronavirus pandemic has greatly affected manufacturers even as services-sector confidence advanced. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 37.8. It followed after placing at 38.4 in May. This came to […]

Oil prices fell on Monday as fears that a second coronavirus wave could delay the recovery for fuel demand and outweigh the record output cuts. Brent crude slid 0.2%, or 10 cents, at $24.04 per barrel. U.S. crude dropped 0.3%, or 11 cents, at $39.72 per barrel. Both benchmarks increased 9% last week. In the […]

European shares dropped on Monday as a surge in new coronavirus cases in Germany and elsewhere unsettled investors’ hopes for a faster economic recovery. The pan-European STOXX 600 index fell 1%, with the losses led by oil and gas.SXEP, travel and leisure.SXTP, and bank stocks.SX7P. The World Health Organization posted a record rise in global […]