Economic news

European stock markets opened Wednesday trade sharply lower as Wall Street was on a selloff overnight amid pressing concerns over inflation and future Federal Reserve policy. Germany’s DAX futures contract lowered 0.2%. CAC 40 futures in France dipped 1.2% and the FTSE 100 futures contract in the U.K. dropped 0.9%. Wall Street’s major indices lost […]

British consumer price inflation in April ballooned to more than double in the previous reading. The bank of England was hopeful that the hike will be temporary as the economy recovers from last year’s coronavirus drag. Based on the official data released by the Office for National Statistics, consumer prices jumped 1.5% in April after […]

Supply bottlenecks in the supply of raw materials could possibly cap Germany’s economic recovery from the coronavirus crisis. The prediction remained probable as two-thirds of the country’s overall sectors reported limitations, private data showed. 40% of industry groups reported severe short-term supply bottlenecks, a report from the German Economic Institute revealed. The country’s car, plastics, […]

Asian shares performed weakly as cryptocurrencies dropped lower on Wednesday. This came after investors’ risk appetite was dampened by inflation-driven uncertainties. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% drop. China’s CSI300 dropped 0.6%, while Japan’s benchmark index Nikkei shed 1.1%. Hong Kong and South Korean markets were closed for a holiday. […]

The dollar fell on Monday as inflation jitters, worsened by record-high prices in a regional U.S. manufacturing survey supported risk currencies at the dollar’s expense. The 10-year U.S. Treasury yield steadied as investors sought hints regarding the Fed’s monetary policy.  The Federal Reserve is set to release the minutes of its meeting on Wednesday, which […]

Oil prices rose on Tuesday as hopes for a strong fuel demand recovery after U.S. and European economic reopenings offset worries over increasing COVID-19 cases in Asia. Brent crude oil futures climbed 0.3%, or 19 cents, at $69.65 per barrel, while U.S. West Texas Intermediate crude rose 0.3%, or 18 cents, at $66.45 per barrel. […]

AT&T is set to build its own global entertainment and media business, combining its content from HBO, Warner Bros studios, and Discovery. David Zaslav, Chief Executive of Discovery will spearhead the proposed new business, which will comprise one of Hollywood’s most powerful studios, including the Harry Potter and Batman franchises, news network CNN, sports programming […]

Gold shone on Tuesday trade in Asia as the dollar softened and rising inflation continued to press worries on investors. Gold futures gained 0.02% to $1,868.05. This was the yellow metal’s highest level in more than three months (since February 1, 2021). The dollar, which usually moves inversely to gold, fell near multi-month lows. Investors […]

Japan’s economy plunged more than what was expected in the first quarter, bringing in concerns for its major trading partners’ economic emergence. This could be attributed to surging coronavirus infections and dwindling vaccinations that heavily damaged the country’s consumption. The world’s third-largest economy recorded a 5.1% annualized drop from January to March. This came larger […]

Asian share markets were mostly upbeat during their early Tuesday trade. This followed after investors gauged the diverging stages of different countries’ economic emergence from the coronavirus crisis. Japan’s benchmark index Nikkei performed 2.14% higher as the country tallied a 5.1% year-on-year contraction in its GDP. South Korean shares hiked 1.14%, while Australian shares advanced […]