Economic news

Japan’s tech conglomerate SoftBank Group Corp said it sees a loss of nearly ¥700 billion ($6.6 billion) by the end of March on its WeWork investment outside the Vision Fund. Furthermore the group is also expecting a net loss of ¥900 billion from the investments made through the $100 billion fund. The announcement comes as […]

Asian shares tallied a seven-week high record on Thursday, with earnings supported by positive results of a coronavirus vaccine trial. However, bonds and currencies traded cautiously ahead of a European central bank meeting set later on Thursday. Gilead’s (GILD.O) antiviral remdesivir is set to be the standard of care for the deadly respiratory disease after […]

One of America’s largest health insurers, Anthem Inc. (ANTM) stated on Wednesday that the pandemic could cause a major shift in business mix. Due to high rates of unemployment across industries, individuals are compelled to depart from employer-sponsored coverage and avail of Medicaid or ObamaCare instead Employer-sponsored health insurance are more profitable for insurance firms. […]

The first-quarter sales of Carlsberg (CARLb.CO) fell by 7% on Thursday. While the Dutch brewing company anticipates further decline in its second-quarter sales due to beer demand in grocery stores, it failed to consider the closure of pubs and diners amid the virus lock down. Earlier this month, Carlsberg postponed support after sales in pubs […]

According to an Austrian representative, the Chancellor of Austria Sebastian Kurz and the Chief Executive Officer of Lufthansa Carsten Spohr will meet in Vienna on Wednesday to talk about the necessary state aid rescue package for German flagship carrier, Lufthansa (LHAG.DE). The discussion involves approval of Lufthansa’s state aid from Germany worth 9 billion Euros […]

Finance Minister Bruno Le Maire stated on Wednesday that the France administration will tighten controls on foreign direct investments to protect French companies over strategic industries and bio-tech groups. At present, non-European purchases of stakes in large companies do not need approval from the government if it’s 25% or less. Le Maire announced a lowering […]

Stuttgart-based car and trucks maker Daimler said that it expects the operating profit from its Mercedes-Benz unit to exceed that of the previous year. The announcement came even after the company had abandoned its outlook earlier in April. The company’s earnings for the first quarter before interest and taxes (EBIT) was €617 million ($669.45 million). […]

Gold prices rose in Asia earlier on Wednesday, continuing its gains from the previous session. Gold futures gained 0.22% to $1,726 per ounce at 12:16 OM ET (5:16 AM GMT). The yellow metal previously rose by 0.10% in the previous session. The gains come as an anticipated Federal Reserve policy meeting bolstered investors’ risk appetite. […]

Australian inflation surged to its most rapid pace in over five years, hitting a 5-1/2 year-high record, according to figures released on Wednesday. However, economic recovery seems fleeting as virus disruptions continue to press and energy prices fluctuate. The headline consumer price index (CPI) increased 0.3% in the first quarter, recording a 2.2% inflation rate […]

The dollar fell on Wednesday as re-opening economies lifted the market mood ahead of central bank meetings. The risk-sensitive Australian dollar gained 0.4%, at $0.6517, nearing its sixth consecutive week of gains. The New Zealand dollar climbed 0.6%, at $0.6093. The U.S. Federal Reserve is set to hold a meeting on Wednesday and investors are […]