Economic news

Rare earth exports from China recovered from a four-and-a-half-year low in December, as buyers increased purchases more than a week before the Chinese Lunar New Year holiday. But yearly shipments declined to the lowest in four years as rare earth exports were hit by weakened global manufacturing demand. Rare earths, or the group of 17 […]

U.S. budget deficit widens 11.8% in its first quarter of fiscal year The U.S. budget deficit widened to $356.6 billion in the first three months of fiscal 2020 as spending rose more than revenue. This would keep the federal shortfall on pace to exceed $1 trillion by the end of the year. The gap increased […]

Trump says China trade deal to be signed shortly after 15th January U.S. President Donald Trump said on Thursday that the Phase 1 trade deal with China could be signed “shortly thereafter”. “We’re going to be signing on January 15th,” Trump told the ABC TV affiliate in Toledo during an interview, “ I think it […]

Chinese exports climbed 7.6% in December compared to a year earlier, as shown by customs data on Tuesday. The recovery in export demands was attributed to the preliminary trade deal agreed upon by China and United States, as further de-escalation of the longstanding tariff war is expected. The recovery was the first since July 2019 […]

Japan household spending dropped on its second straight month in November, indicating a higher sales tax weighing down on private consumption for a while. Japan has been working to regain momentum after the drop in household spending which followed the October sales tax hike. Japan exports were hit by weak global demands in the past […]

Latin American delivery startup Rappi announced that it dismissed 6% of its employees. This measure came after Japan’s Softbank Group invested a total of $1 billion in Rappi. Rappi did not provide specific figures on how many jobs they have cut. According to the Brazil Journal news outlet, Rappi has 5,000 people working for them, […]

Uniqlo’s operator trims earnings outlook by 11% Japan’s fashion retail giant, Fast Retailing Co., otherwise known as Uniqlo’s operator said that it would lower its full-year outlook on earnings by 11%. The company’s shares dropped 3.12% in Tokyo on Friday morning following the news. Fast Retailing Co.’s overseas sales were hurt by the ongoing civil […]

Dollar sturdies ahead signing of U.S.-China trade deal The U.S. Dollar remained strong on Friday and was set to close on a high note a few days ahead of the signing of a ‘phase one’ trade deal between the United States and China. The US Dollar Index Futures was flat at 97.45 by 9:30 PM […]

Facebook announced on Thursday minor changes to its ad policy to address political ads that will be popping up on users’ news feeds as soon as the campaign period goes full blast for the US Presidential elections in November this year. The social media giant made minor adjustments to its existing ad policies to address […]

DUBLIN- Irish consumer sentiment boosted in December and recorded its two consecutive monthly gains in four years as ‘no-deal’ Brexit concerns diminished, according to survey released on Friday. Ireland still tops the board as the fastest growing economy within years of Brexit talks, but consumer sentiments dwindled when Britain, the country’s neighbor country, planned to […]