Economic news

U.S. blacklisting lowers China’s expectations for trade talks Following the U.S. blacklisting of several Chinese companies, China has lowered its expectations for significant progress from the week’s trade talks with the United States. This was expressed by Chinese government officials despite U.S. President Donald Trump showing fresh optimism about the talks. While Beijing has shown […]

U.S. futures flat ahead trade talks U.S. futures were flat on Thursday as investors remained cautious from mixed signals ahead of trade talks between the U.S. and China. The South China Morning Post reported that no progress has been made in deputy-level trade talks on Thursday, saying it will only last a day instead of […]

India seeks safeguards in China-led trade pact India wants safeguards to be built into a China-led trade pact to prevent a sudden surge in imports, the Indian trade ministry said on Wednesday. Negotiators for the 16-nation Regional Comprehensive Economic Partnership (RCEP) are in Bangkok this week for talks aimed at finalizing the giant free trade […]

Zimbabwe hikes electricity prices, affecting impoverished consumers Zimbabwe hiked its average electricity tariff by 320% on Wednesday in attempts to ramp up power supplies at a time of daily blackouts. However, the move has angered consumers already grappling with soaring inflation that is eroding their earnings. The southern African nation is experiencing its worst economic […]

Bank of England sets out rules of engagement for Facebook’s Libra The Bank of England (BoE) had set out rules of engagement that Facebook’s cryptocurrency, Libra and other digital payment providers would meet before they can operate in Britain. The BoE’s Financial Policy Committee added that Britain’s banks along with its financial system were fully […]

Exxon Mobil to sell Malaysian offshore assets worth $3 billion; Bloomberg reports U.S. energy giant Exxon Mobil is considering a sale of its Malaysian offshore assets for up to $3 billion, Bloomberg reported on Wednesday. Exxon is said to be working with advisers on the potential sale which could raise about $2 billion to $3 […]

Market sentiment fragile as U.S.-China talks and Brexit deals fade hopes European stocks steadied on Wednesday but market sentiment remained fragile as negotiations for a Brexit withdrawal deal seemed all but dead. The sentiment carried on in addition of the U.S.-China trade dispute. Markets mostly blame their sentiment on concerns that the U.S.-China conflict over […]

The U.S. to apply 25% tariffs on Scotch whiskey, Italian cheese, and French wine The Trump administration had slapped 25% tariffs on French wine, Italian cheese, and single-malt Scotch whiskey exports in retaliation for EU subsidies on large aircraft. However, they spared Italian wine, pasta, and olive oil. The U.S. Trade Representative’s Office released a […]

Kroger to lay off store employees amid improvement attempts Kroger Co. (KR.N) is considering to cut jobs of several store employees holding middle management roles amidst the supermarket chain’s push to improve delivery and in-store technology. “As part of ongoing talent management, many store operating divisions are evaluating middle management roles and team structures with […]

Crypto trading spikes in Hong Kong amid protests Bitcoin, as well as other significant cryptocurrencies, traded slightly higher on Thursday in Asia. According to data, trading in digital coins spiked mostly in Hong Kong. Economists suggest that the reason for this is that traders may be seeking potential alternatives amid ongoing political unrest that rocked […]