Economic news

Oil prices climbed on Friday, extending gains from the last session as OPEC+ agreed to deter from raising output in April as they wait for better demand recovery amid the coronavirus pandemic. Brent crude futures for May contract gained 0.9%, or 60 cents, at $67.34 per barrel, on track for a 2% gain this week. […]

On Friday, China decided to restore its annual economic growth target, setting its outlook above 6% and pledging that it will increase job vacancies in cities than last year. The decision came after the world’s second-biggest economy staged an impressive rebound from the coronavirus drag. Last year, the coronavirus pandemic prompted China to drop its […]

Asian share markets were seen downbeat on Friday. The decline was mainly from an increase in U.S. Treasury yields, which greatly affected equity investors and boosted the dollar to a three-month peak. In turn, the Japanese yen hit a record of eight-month low. During Friday’s early trade, Australian shares recorded a 1% decline. Japan’s Nikkei […]

The United States concurred with the four-month suspension of its retaliatory tariffs imposed on some British products including Scotch whisky over a long-standing aircraft subsidy dispute. Both parties vowed to use the time to solve the issue. The Trump administration had imposed tariffs on various European Union food, wine, and spirits, including on Scotch whisky. […]

After a massive global recall of electric vehicles, Hyundai Motor Co was left with no choice but to trim down its fourth-quarter sales projection. But reports said LG Chem Ltd would shoulder the bulk of the expenditures. Hyundai reported on Thursday it was slashing its fourth-quarter operating profit by 300 billion won ($265 million) or […]

The dollar climbed to a seven-month high against the yen on Thursday as a rise in U.S. Treasury yields provided support ahead of a speech by Fed Chair Jerome Powell. The dollar stood near a three-month high against the Swiss franc and held onto gains against most currencies as a calm Treasury market boosted sentiment. […]

Oil climbed for a second day on Thursday as prospects that OPEC+ producers might decide to not raise output at a key meeting later in the day supported prices.  Brent crude futures rose 0.4%, or 27 cents, at $64.34 per barrel. U.S. West Texas Intermediate crude futures were up 0.3%, or 19 cents, at $61.47 […]

Signaling the start of its global expansion, Amazon.com Inc. will open on Thursday its first-ever physical store outside the United States. Amazon’s first out-of-the-U.S. branch will feature a cashier-less store. It is named, “Amazon fresh” and it is set to start operation in the London Borough of Ealing in Britain. The franchise will carry a […]

Thursday trade in Asia had seen gold dipping as rising U.S. Treasury yields fended off investors of the precious metal despite its rise from a nine-month low it posted the previous session. Gold futures declined 0.23% at $1,711.90, with the dollar racking up some gains on Thursday as it normally moves inversely to gold. Benchmark […]

Brazil’s economy recorded a 4.1% contraction last year, data showed on Wednesday. The drop, which came to be the sharpest in decades, could be attributed to the coronavirus crisis as a second wave of virus restricted the economy’s recovery seen at the end of 2020. Data from statistics agency IBGE showed that Latin America’s largest […]