Economic news

Rishi Sunak, Britain’s Finance Minister formally announced on Thursday his plan of extending a job support programme by another month until the end of April. The finance minister also affirmed that COVID-stricken businesses would be offered new COVID loans until the end of March next year. The news broke out after Sunak announced that he […]

The number of claims for jobless benefits rose last week as the US faced re-imposed COVID-19 restrictions, halting business operations and indicating a faltering recovery from the coronavirus recession. Initial claims for state unemployment benefits jumped 23,000 to a seasonally adjusted 885,000 for the week ended Dec. 12. The second straight weekly rise lifted claims […]

The Australian economy’s emergence from its coronavirus-driven downturn will come faster and more robust than what was initially thought, the government predicted on Thursday. This is expected as the virus-beaten country managed to control the spread of the coronavirus. According to Treasurer Josh Frydenberg, the economy down under will expand 4.5% in 2021, placing higher […]

Asian share markets were seen near their record peaks on Thursday. More so, the dollar hit a two-year low record as oil prices reached the strongest level since March. These followed after investors’ sentiment was fuelled by the prospect of monetary support and fiscal stimulus in the United States. MSCI’s broadest index of Asia-Pacific shares […]

The dollar sank to new 2 ½-year lows against major peers on Thursday as progress on a U.S. stimulus package and a Brexit trade deal lifted risk appetite at the cost of safer assets. The dollar index dropped to 89.995 in Asian trade, sinking below 90 for the first time since mid-2018. The euro stood […]

Oil prices hit a nine-month high on Thursday after U.S. crude inventories fell last week, while progress in a U.S. stimulus deal and higher Asian demand supported prices. Brent crude futures climbed 0.9%, or 45 cents, at $51.53 per barrel. U.S. West Texas Intermediate crude futures gained 1%, or 46 cents, at $48.28 per barrel. […]

The Bank of England is set to withhold more stimulus on Thursday as it waits for any adverse economic effects once Britain and the EU do not agree on a trade deal in two weeks. The EU and Britain are still sorting things out to eschew the burden of import tariffs on trade from Jan. […]

The second tranche of the COVID-19 aid package is just around the corner as US lawmakers haggled on Wednesday over its details. The relief package is expected to include $600-$700 stimulus checks as well as additional unemployment benefits. However, major details in the coronavirus aid bill remain unsettled. One argument was over whether to increase […]

The dollar hovered near 2 ½-year lows on Wednesday as progress on a big U.S. government spending bill and COVID-19 relief boosted risk appetite, reducing demand for safe assets. The dollar traded at $1.21630 per euro, close to the 1 ½-year low of $1.2177 hit on Monday. It fell 0.2% to 103.44 against the yen […]

Oil prices fell on Wednesday on a sudden build in U.S. crude oil stockpile and as investors worried about fuel demand being squeezed amid stricter lockdowns in Europe. Brent crude futures dropped 0.2%, or 11 cents, at $50.65 per barrel. U.S. West Texas Intermediate crude futures slid 0.2%, or 9 cents, at $47.53 per barrel. […]