Economic news

BEIJING- China and United States made agreement in the past two weeks aimed at defusing the tariffs imposed during their months-long trade truce in different phases, Chinese commerce ministry disclosed on Thursday.  Both countries must pull out the implementation of tariffs on each other’s goods in order to come up with the possibility of “phase […]

Asian stocks paused near multi-month peaks while bonds squeezed out a bounce as delays to seal a preliminary China-U.S. trade were reported. The uncertainty has left investors frustrated with the slow progress and lack of concrete actions. The updates in early European trades are as follows: London’s FTSE futures climbed 0.2%, Euro Stoxx futures were […]

Oil prices slip as crude stockpiles soar past market expectations Oil prices slipped on Thursday following the Energy Information Administration’s (EIA) report that showed U.S. crude inventories rising higher than market expectations last week. EIA reported that oil stockpiles rose by 7.9 million barrels in contrast to analysts’ expectations of an increase of around 1.5 […]

Foreign holdings of China equities reaches a record high Foreign holdings of Chinese stocks soared to a record high in the end of the third quarter despite trade disputes with the United States. By late September, Chinese equities held by foreigners amounted to a record of 1.77 trillion Yuan ($253.14 billion) after maintain a steady […]

GoDaddy Inc announced on Wednesday it share buyback amounting to $500 million, its biggest thus far, including a reported increase in quarterly revenue of about 12%. The company posted profit markers as it attracted more users, thus earning more and boosting its shares by 10% in extended trading. GoDaddy is a web hosting company that […]

The Bank of England signals to keep interest rates steady on Thursday as the snap election on Dec. 12 draws near. Governor Mark Carney though is not giving an explicit answer as to where interest rates are going in the next couple of weeks. “It’s all about nuance and emphasis,” Philip Shaw, Investec economist said. […]

European shares soar as financials increase European shares jumped higher last Wednesday brought by financial stocks as investors parsed through multiple earnings data and progress on Sino-US trade talks eased financial market anxiety. Societe Generale tallied a record of 3.5%. This followed after its statement of setting aside three-quarters of the cash meant for delivering […]

Venue for Sino-U.S. trade pact signing becomes growing concern China and US have been making laudable progress enough for ‘phase one’ to get signed this month. However, the signing venue is still unclear as it ranges from Alaska to Greece.  U.S. President Donald Trump disclosed his willingness to sign ‘phase one’ of the trade pact […]

SoftBank reports $8.9 billion loss in second quarter due to Vision Fund Softbank Group Corp reported its second quarter profits, detailing a loss of 970 Billion Yen ($8.9 billion) on Vision Fund due to falling valuations of top tech bets like Uber and WeWork. The accounted loss is reported to be Softbank’s first quarterly loss […]

The launch of the Chinese digital currency in the financial markets will create a ‘horse race’ as described by an official of the central bank of China. Commercial banks and other financial institutions will go neck-and-neck in providing the best services using the new form of money. China is poised to be the very first […]