Economic news

On Sunday, American Airlines Group Inc. (AAL) said that it is planning to raise as much as $3.5 billion from stock and notes offerings, as the ailing U.S. carrier grapples with the financial fallout of the travel restrictions caused by the coronavirus outbreak. According to the airline company, its revitalized funding would help boost its […]

Lufthansa’s Chief Executive Officer Carsten Spohr announced on Sunday that the company would seek to avoid grounding and insolvency before a showdown between the airline’s biggest shareholder and the German government over the terms of a 9 billion Euro bailout. Lufthansa’s (LHAG.DE) shares were down by 5.7% on Monday morning. The 79-year-old billionaire Heinz Hermann […]

Backed by record-low mortgage rates and limited supply, US home prices are set to overcome the economic drag brought by the novel coronavirus pandemic, according to a Reuters poll that foresees home prices beating consumer prices this year and next. According to the June 9-19 survey of over 40 housing strategists, housing prices will record […]

New Zealand’s central bank is expected to keep rates unmoved at its policy meeting on Wednesday. However, it projects a cautious tone as fears of a second wave of COVID-19 infections dampened outlook and increased economic uncertainty. All economists surveyed by Reuters expected the Reserve Bank of New Zealand to maintain the official cash rate […]

Gold prices rose earlier on Monday in Asia, reaching its highest since May as fears of a second wave of COVID-19 cases continued to dampen hopes of a quick economic recovery. The World Health Organization on Sunday reported a record 180,020 cases, adding up to the near 9 million COVID-19 cases globally as of June […]

The U.S. Dollar reached a three-week high while commodity currencies halted on Monday after concerns mounted over the surge of new COVID-19 cases around the world. Market movements were still limited as investors hoped that fears of a second wave would compel new lockdown measures. However, with the World Health Organization reporting a record increase […]

European shares traded higher on Friday with Germany’s airline company Lufthansa leading gains on the back of signs on movement in its stalled government bailout. The gains also came ahead of the European Council’s meeting to negotiate the EU recovery fund. The European Council will have its first meeting to discuss a commission’s proposal to […]

The Dollar retreated from gains in Europe earlier on Friday. However, losses were not far from its two-week high as worries of a second wave mounted with increasing new COVID-19 cases worldwide. The Dollar index slipped 0.1% to 97.352 at 3:10 AM ET (0710 GMT). The index had previously reached a daily high of 97.495, […]

Japanese clothing brand Uniqlo began selling its washable and fast-drying face masks on Friday. Customers stood in long lines as rain poured down outside of stores prompting a flood of social media photos. Uniqlo’s website crashed due to the massive demand for the washable AIRism face masks. The servers remained down past midday and some […]

On Thursday, President Donald Trump renewed his threat to cut ties with China a day after the U.S. Trade Representative Robert E. Lighthizer told Congress that Trump did not see decoupling the U.S. and Chinese economies as a viable option. “It was not Ambassador Lighthizer’s fault (yesterday in Committee) in that perhaps I didn’t make […]