Economic news

Asian shares recuperated on Wednesday amid an impending worst global recession in seven decades highlighted a severely hurt economy while some countries attempted to resume businesses. The interest rate reduction prompted MSCI’s broadest index of Asia-Pacific shares outside Japan to advance with 0.3%, hitting its one-month high. However, the Japanese benchmark index Nikkei had declined […]

U.S. President Donald Trump on Tuesday reduced the World Health Organization’s funds allocated to the novel coronavirus pandemic. Trump’s decision drew criticism from experts as the global death rate continued to increase. Trump’s emergency measures aimed at minimizing the spread of the virus had been consistently assailed. This has angered the president as he aimed […]

The dollar fell on Tuesday while risk currencies rallied after China’s trade data showed a more optimistic view than anticipated. The coronavirus death toll slowdown brought hopes to investors that the pandemic may be over soon. Yuan-denominated exports declined 3.5% year-on-year, while imports gained 2.4%, according to customs data on Tuesday. The Australian dollar was […]

Oil gained more than 1% on Tuesday as the U.S. energy forecasting agency said that shale output would have a record decline in April, adding to production cuts agreed between other major oil producers. Brent futures gained 1.7%, or 53 cents, at $32.27 per barrel. U.S. West Texas Intermediate crude rose 1.4%, or 32 cents, […]

EBay Inc. named Jamie Iannone as its new Chief Executive Officer on Monday. The appointment had been made a month after Starboard Value, owner of more than 1% of eBay’s stock, disclosed plans of designating four directors on eBay’s board of 14 members. Starboard wanted the company to appoint an outsider as its permanent chief […]

Exxon Mobil Corp (XOM) raised new debt of $9.5 billion on Monday. The company paid a lower price to borrow from debt markets as energy prices collapsed amid virus outbreak. Other highly-rated U.S. companies have also been tapping debt markets for cash due to the uncertainty of economic impact from coronavirus. The logic behind Exxon’s […]

Oil prices rose on Tuesday after an OPEC+ meeting settled on a record 9.7 million barrel output cut last Sunday. International Brent Oil futures gained 1.13% to $32.27 per barrel at 9:48 Pm ET (2:48 AM GMT) while the Oil WTI futures rose by 1.87% to $22.83 per barrel.   The production cut will begin […]

Gold prices carried gains well from the previous session and regained its status as a safe-haven commodity as the COVID-19 pandemic continues to disrupt global economy. Gold Futures reached record levels on Monday and rose by 0.35% to $1,797.6 per ounce at 9:25 PM ET (2:25 AM GMT). The rise comes as investors subscribed to […]

U.S. President Donald Trump said on Monday that the U.S. economy may begin reoperating soon as his administration heads towards a concrete plan. The economy was shut after restrictions were implemented to combat the further spread of the novel coronavirus. Trump emphasized that the death toll in the United States remained unchanged, indicating that “social […]

Asian stocks slightly gained on Tuesday after China’s trade data revealed a better-than-expected result. The upbeat performance could also be attributed from various countries’ decision of reopening their economy by easing some lockdown restrictions.   Chinese shares traded in green on Tuesday with the blue-chip index.CSI300 gaining 0.9%. Australian shares advanced with 1.1% while the […]