Economic news

Gold prices extended gains in Asia on Tuesday after new reports of declining COVID-19 cases improved investor sentiment. This development also led many to anticipate additional global measures to put a floor under a virus-hit economy. Gold Futures gained 1.43% at $1,717.9 per ounce at 9:24 PM ET (2:24 AM GMT) following a 3% surge […]

Asian equity markets extended gains on Tuesday after the United States, Italy, and Spain reported a steady decline in COVID-19 cases over the weekend. South Korea’s KOSPI inched up by 0.95% at 10:23 PM ET (3:23 AM GMT) as Samsung Electronics exceeded expectations after announcing that their first-quarter profits reached near $5.2 billion. Japan’s Nikkei […]

Samsung Electronics Co Ltd (005930.KS) disclosed on Tuesday that its first-quarter operating profit inched up to 3%, surpassing analysts’ expectations as chip sales nursed the impact of the coronavirus contagion on smartphones and televisions. Samsung expected a total of 6.4 trillion won (equivalent to $5.2 billion), to be its operating profit in the quarter ended […]

Oil prices hiked on Tuesday amid optimism that the world’s top crude manufacturers will agree to reduce output production. The deal is necessary as the coronavirus contagion disrupts the world economy. However, analysts warned that the scheme may only do little in increasing oil demand. Brent crude LCOc1 gained 73 cents, equivalent to 2.2%, and […]

The British pound fell against the euro and dollar on Monday after Prime Minister Boris Johnson was hospitalized due to relentless symptoms of COVID-19. The yen fell against the dollar after news that Japanese Prime Minister Shinzo Abe may declare a state of emergency due to fast-rising cases in the country.  The dollar was on […]

Oil prices slid on Monday after talks between Saudi Arabia and Russia were postponed, while stocks rose the spread of the coronavirus began to slow down. Brent crude saw a 3-dollar drop in early Asian trade after the meeting set to discuss production cut between Saudi Arabia and Russia had been postponed. US stock futures […]

Car sales in the United Kingdom saw an annual decline of 40% for March, according to preliminary data released on Monday from the Society for Motor Manufacturers and Traders (SMMT). The drop in sales comes as the COVID-19 pandemic continues to disrupt the economy and force potential buyers to remain indoors. Sales added to only […]

Companies in Asia, including Japan and China are rushing to raise a record $69.3 billion in a bid to refinance debts in the second quarter, according to a Refinitiv report. The U.S. Dollar corporate debt which is due to mature in the region is among the highest on record – only surpassed by the $71.4 […]

JPMorgan Chase & Co (JPM.N) will modify its customer complaint system on Tuesday and process how employees choose eligible clients for particular banking services. There were racial discrimination claims in the bank against black customers last December 2019, New York Times reported. Audio recordings made by a bank employee and a customer served as evidence […]

Southwest Airlines Co (LUV.N) will cut 40% of its flights from May 3 to June 5, the carrier said on Monday. The U.S. airline will send 2,000 flights every day, a slash of 1,700 from its usual number, due to the decrease in travel demand amid the coronavirus outbreak. Southwest Airlines recently said that it […]