Мария Давыдова

Maria specializes in calculating market indicators using special formulas. She teaches traders to predict the exact outcome of the trade and not rely on their assumptions and emotions during the trading process.
Maria is a practicing analyst who has a comprehensive understanding of the market situation.

Dollar advances as virus inflicts the economy further

SINGAPORE- The dollar is currently on track towards a 2% weekly increase on Friday. This followed after oil prices recovered and as investors resorted to safe havens amid the threat of economic contraction due to coronavirus contagion. The dollar found its momentum after fluctuating sharply last month. It edged up after becoming a safe-haven currency […]

SoftBank cancels $3 billion deal for additional WeWork Shares

Japan’s SoftBank Group Corp pulled out of a deal to buy an additional $3 billion worth of shares from the shared workspace provider WeWork, according to a statement from the U.S.-based company’s special committee of the board on Wednesday.  The deal had been agreed upon by SoftBank since October 2019, the special committee of WeWork’s […]

Kuwait arms virus-beaten economy

KUWAIT- Kuwait imposed necessary measures on Wednesday aimed at aiding its economy from threats of the novel coronavirus. The arrangement involves long-term loans while the central bank requested other banks to implement unrestricted loan repayments for the affected businesses and firms. Kuwait’s March 31 record showed that 289 coronavirus cases were added to the list. […]

Japan’s factory activity shrinks at fastest pace as domestic and overseas demand slump

Japan’s factory activity contracted at a record pace since March 2009 amid a virus-hit economy that led to a sharp decline of domestic and overseas demand. Its Manufacturing Purchasing Managers’ Index (PMI) fell from a final 47.8 to a seasonally adjusted 44.8 in February. This was observed as the lowest in a decade when Japan […]

Thai Airways may reduce plane types permanently after landing jets

Thai Airways International Pcl (THAI.BK) may for all time diminish the quantity of airplane types it sends once the coronavirus pandemic, said a senior government official on Monday. Thai Airways is landing 69 of its 82 planes following a drop in traveler volume and course cancellations from the expanded border limitations forced by the outbreak, […]

Crude oil futures decline as coronavirus pandemic furthers weak demand outlook

Crude oil benchmarks suffered steep falls on Monday due to a worsening coronavirus pandemic and continuing price war between Saudi Arabia and Russia. Brent hit its lowest since November 2002 after falling 6.7%, or $1.68, at $23.25 per barrel.  The US West Texas Intermediate crude futures fell steeply to $19.92, almost at an 18-year low. […]

Oil advances as markets rejoice on stimulus optimism

TOKYO- Oil prices soared on Friday after global leaders assured fulfilling its promised measure  to inject large volume of funds to minimize the economic drag brought by coronavirus contagion. Upbeat performance followed despite the threat of contagion impacting crude demand. The Brent crude LCOc1 earned 50 cents after suffering for four consecutive weeks. The crude […]

Putin provides a week-long holiday for Russians in social bundle to fight coronavirus

MOSCOW – Russian President Vladimir Putin on Wednesday proposed a wide variety of unconventional emergency social measures to help families and organizations in the midst of the worldwide coronavirus outbreak, such as a week-long holiday for laborers and higher taxes on profits. During a live broadcast address to the country, Putin tried to console the […]

U.S. asks Facebook, Walmart, and Amazon to stop  over pricing amid pandemic crisis

WASHINGTON – A group of thirty two U.S. states have a message for the world’s leading online platforms: “You are not doing enough to stop unreasonable pricing in the midst of the coronavirus crisis.” In a letter sent on Wednesday to Amazon.com Inc (AMZN.O), Walmart Inc (WMT.N), Facebook Inc (FB.O) and eBay Inc (EBAY.O) a […]

Dollar eases after sharp drop as greenback funding remains secured

SINGAPORE- The dollar reversed from underperformance and clocked in minimal gains on Wednesday as growing coronavirus statistics made investors wary.  Asian boards are fluctuating but currency movements were cautious compared to large volume of earnings monitored in stock markets. Such was from investors’ optimism over the possibility of a US stimulus package.  The sought-after dollar […]

SoftBank shares climb up to 20% following buyback announcement

Softbank Group Corp stock climbed 20% on Tuesday as it extended a two-day rally after the company announced a $41 billion in asset sales and a record share buyback to support its declining share price. Softbank shares closed with a 19% gain on Monday following an announcement to repurchase 4 trillion yen ($18 billion) of […]

Wall Street expects another rough week as coronavirus risks intensify

Wall Street is expected to suffer another week of rough US markets due to the pandemic as lawmakers decide on economic aid packages in Washington. Stock market futures suffered a steep fall while Treasury-bond futures gained, indicating smooth-sailing trades in the following week. Despite the historic fall in share prices in recent weeks, Wall Street […]

First round of QE sees Australia central bank buy $2.9 billion bonds

On Friday, the Central Bank of Australia purchased A$5 billion ($2.87 billion) worth of local government bonds. This came in its first round of unlimited quantitative easing program that aims at softening the blow of the coronavirus outbreak in the Australian economy. The Reserve Bank of Australia’s (RBA) operation attempts at cuttting funding costs for […]

Nikkei suffers a CVID-19 anxiety obliterates stimulus optimism

Japanese benchmark index Nikkei placed flat and erased previous earnings on Thursday. Such inactivity followed as the European Central Bank stimulus had only relieved investors’ anxiety for a while over the economic slowdown brought by the virus contagion. The Nikkei dropped 0.7% to 16, 602.28 at its midday session. The recent percentage placed neutral from […]

Crypto-market infrastructure: might not be stable enough in the face of economic blows

For the first time, in 7 years, Bitcoin had crashed deplorably due to the coronavirus outbreak. However, investors are wary of a more pertinent issue.    Electronically-triggered liquidations of leveraged positions had been found in Futures exchanges; these had been putting pressure on prices. Meanwhile, Spreads jumped between exchanges.  Furthering financial-related stress, investors were locked […]

With deaths crossing 100 in the U.S., Trump administration demands $1 trillion stimulus package

Tuesday saw the demand of the Trump administration for a $1 trillion stimulus package for the virus onslaught. Assumed to include $1,000 direct payments to individual Americans, this financial effort is seen as a way to soften the economic blows to the country as the coronavirus had already killed over 100 people in the territory. […]

Bank of Japan to take monetary easing steps once more if economy worsens

Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Tuesday that it would ease monetary policy once more if the country’s if the coronavirus-hit economy worsened. As Japan’s government works to limit the spread of the virus as well as aid businesses affected by the outbreak, the Bank of Japan has taken up the role […]

Gulf reels after oil price shock due to COVID-19 spread

Crude prices have plummeted due to the coronavirus outbreak that had left Gulf Arab governments with a morsel of options to re-establish fiscal stability. This, they are doing, as they try to shield their economies and fight for currency pegs.   Even Saudi Arabia, deemed the richest among the Arab nations, which had been in […]

SoftBank to buy back its $4.8 billion shares as pressure piles from Elliott

SoftBank Group Corp said on Friday it would buy back up to 500 billion Yen ($4.8 billion) of its own shares after activist investor Elliot Management pressured the company to buy back $20 billion in stock. A SoftBank spokesperson said that the company’s  buyback move was of its own discretion after it had considered risks […]

Wall Street stocks plunge, Dow declares bear market

In light of the World Health Organization’s declaration of COVID-19 being a pandemic, the Dow confirmed a bear market with Wall Street stocks crashing down. The three major U.S. stock averages plunged on Wednesday as the S&P 500 and Nasdaq composite index hitting 19% below their record on Feb. 19, their highest records for the […]

Gold climbs as doubts on US stimulus package weighs on market

Gold prices saw gains on Wednesday following a decline in the last session as investors doubted U.S. President Trump’s proposed stimulus package to ease the virus’ impact. Spot gold gained 0.4%, at $1,656.37 per ounce while U.S. gold futures slid 0.2%, at $1,656.70. The White House and the U.S. Congress discussed measures to implement in […]

Banks may lose billions of dollars in fee-based revenues, study says

Accenture Plc released its study on Wednesday revealing that major banks across the globe are in danger of losing billions of dollars of fee-based retail revenue coming from the intensified regulatory pressure and tougher competition as new entities offer no-fee services. The study also noted that bank revenues across 12 markets around the globe in […]

Heineken to invest $183 million into Brazil expansion

Heineken on Monday said that it will be investing 865 million Reais ($183.14 million) in order to expand its brewing plant located in Parana, Brazil. The Dutch brewer will finance its Ponta Grossa brewing plant this year and in 2021 in a move to increase its output by 75%. “We are bringing forward by one […]

Virus fears skyrockets gold prices past $1,700 record level in 7 years

Gold prices skyrocketed on Monday past the record $1,700 per ounce since 2012 after piling market fears of a pandemic and a sharp decline in crude prices led traders retreating for safe-haven assets. U.S. Gold Futures surged by 1.6% to $1,699.70 per ounce. Meanwhile, Spot gold prices closing with at a 1.5% high to $1,699.20 […]

First Coronavirus case in Bhutan compels the kingdom to ban tourists

Bhutan had banned tourists for a span of 2 weeks due to a confirmed case of coronavirus. This comes from a report of a tourist that had been diagnosed upon entry of India, the Kingdom’s neighboring country. The virus-confirmed patient had only been identified as a 74-year old American who had flown from India on […]

Stocks drop, Treasury yields hit lower grounds as virus reach larger scale

TOKYO- Asian shares and US stock futures sunk on Friday after another session of defeat was monitored in Wall Street. The frail activity was mainly from disturbance to businesses brought by the compounding virus contagion outside China. In line with this, larger COVID-19 spread sparked concerns of a prolonged economic drag. MSCI’s broadest index of […]

Former Uber self-driving head files for bankruptcy protection after $179 million loss to Google

Former Uber Technologies Inc. head’s self-driving technologies unit Anthony Levandowski filed for bankruptcy protection on Wenesday. This came following a court sanction of $179 million payment to Google after his separation from the company. Levandowski, who worked as a key engineer in Google’s self-driving project, and his colleague Lior Ron violated legal obligations and pursued […]

IMF’s $50 billion aid package bolsters Asian markets

Asian markets gained on Wednesday following the International Monetary Fund (IMF) unveiling a $50 billion aid package with efforts to combat the spread of the highly contagious coronavirus. IMF Managing Director Kristalina Georgieva said in an interview with CNBC that the fund is aimed toward low-income and emerging market countries and would be available without […]

Dollar recovers after impact of Fed rate cut on market fades

The Dollar recovered from its decline against the Euro with a lift from positive jobs data on Thursday. The Japanese yen, considered safe haven currency, lost a little of its recent gains back to the dollar, as market risk appetite improves on the return of Joe Biden in the Democratic Party. High U.S. labor-market data […]

Asian shares climb up, virus concerns restrict smooth performance

SYDNEY- Asian shares grew stronger hitting its fourth session of high on Thursday as U.S. markets actively performed and another set of central bank financial stimulus cleared the previously murky global economic forecast. Wall Street stabilized on a well-ended performance of former Vice President Joe Biden during the Democratic campaign. Biden was viewed to less […]

S&P revises US growth forecast to 1% amid epidemic

A fast-spreading virus outbreak is likely to hit the U.S. economy longer worse than anticipated, according to the S&P Global Ratings on its cut on the global forecast on Tuesday. The Organisation for Economic Cooperation and Development warned that the epidemic has plunged global economy to its worst activity since the 2008 financial crisis. The […]

Central bank of China keeps rates unchanged despite Fed easing

The People’s Bank of China did not follow the Federal Reserve’s emergency policy short-term rate cut, leaving its borrowing costs unchanged on Wednesday. The Central Bank did not open market operations according to its official statement on its website. However, investors still anticipate that the Chinese government will find ways to cut other financing costs […]

Oil advances as OPEC+ heads closer to further oil reduction

SINGAPORE- Oil prices increased up to 1% on Wednesday on optimism that major oil manufacturers are close to sealing an agreement implementing deeper oil reduction. The said cuts are aimed at equalizing the decline in demand brought by the novel coronavirus contagion. Brent crude LCOc1 added 58 cents, equivalent to 1.12%, and last stood at […]

RBA trims rates to 0.5% amid China economic growth slowdown

The central bank of Australia implements monetary easing as it cut interest rates to lessen the impacts of the economic growth slowdown of China due to the coronavirus outbreak. The Reserve Bank of Australia (RBA) trimmed the cash rate by a quarter percentage point to 0.50%, a move anticipated by market analysts and traders in […]

Dow gains biggest daily rise since 2009

The Dow Jones Industrial Average climbed more than 5% on Monday, while Nasdaq and S&P 500 both recovered 4% after the previous week’s deep sell-off over the virus spread. After the indexes gained a few minutes before the market closed, the Dow closed at its biggest one-day gain since 2009, while the S&P 500 and […]

Australian Dollar rises after reserve bank cuts official cash rate, major central banks pledge to support economy

Australian Dollar rises after reserve bank cuts official cash rate, major central banks pledge to support economy The Australian Dollar rose on Tuesday after the Reserve Bank of Australia (RBA) slashed its official cash rate (OCR) by 0.50% to 25 basis points. The Australian Dollar rose by 0.2% to 0.6553 by 11:35 PM ET (03:35 […]

European stocks fall again over virus fears

European shares dropped again on Thursday, with a deeper hit for travel stocks due to a sudden rise in coronavirus cases outside China. This news heightened fears on its impact on global growth. Many blue-chip companies released profit warnings, with the Standard Chartered sliding 3.4% after saying that key earnings target would need more time […]

Asian stocks crash as pandemic concerns intensify

SINGAPORE- Oil and Asian share markets continued to hit lower grounds on Thursday as the fast-paced contagion of the novel coronavirus brought market sentiment down and made investors seek safe-haven assets. The MSCI’s broadest index of Asia-Pacific shares outside Japan finished its session with 0.5% decline and is 4% lower for this week’s trading activity. […]

Oil advances on short-covering despite heavy coronavirus concerns

TOKYO- Oil prices positively performed on Wednesday as investors resorted to short-covering after three sessions of inactivity. Gains were recorded even as novel coronavirus contagion continues to bring worries that its further spread may lead to a global crisis. Brent crude added 42 cents, equivalent to 0.8%, and last stood at $55.37 per barrel at […]

Japanese finance minister Taro Aso keeps close eye on market volatility

Japanese finance minister Taro Aso said that he was closely watching market volatility when Asian shares dropped due to rising fears on the economic impact of the coronavirus spread, which is said to be larger than expected. Aso declined to comment on the yen’s continual decline against the dollar. Economy minister Yasutoshi Nishimura said that […]

Growing coronavirus fears propel dollar to a three-year high

The U.S. dollar index surged to a three-year high amid the unyielding coronavirus fears, and it continues to hound financial markets forcing investors to run to the safe-haven dollar. Investment assets that are time-tested and shockproof amid financial turmoil are rallying since the coronavirus outbreak and piled huge problems over big financial firms including the […]

Shares inch down, gold soars as investors take refuge far from nCoV impact

SYDNEY- Global shares and oil both underperformed on Monday. However, safe-haven gold became the sought-after asset as coronavirus contagion outside China inflicted world economic outlook with diagnoses and deaths bloating in South Korea, Italy, and Middle East. South Korea immediately raised alarm as the virus records increased up to 700 new cases with confirmed deaths […]

Morgan Stanley to strike a $13 billion deal with E*Trade

Morgan Stanley to strike a $13 billion deal with E*Trade Morgan Stanley said on Thursday that it would buy E*Trade Financial corp in a stock deal amounting around $13 billion. The deal with the discount brokerage has been seen as the biggest acquisition by a Wall Street bank since the financial crisis in 2008. Chief […]

Dollar dominates market, yen & Asian currencies drop over virus risks

The Japanese yen is nearing its worst week in over two years on Friday as coronavirus concerns spread to Japan, Beijing, and South Korea, moving funds to the U.S. dollar. The yen dropped to its lowest since April after two straight days of heavy selling, weak domestic data, and intensifying virus risks, causing investors to […]

Japan’s manufacturing sector suffers on coronavirus impact

TOKYO- Japanese manufacturing activity experienced the sharpest decline in seven years in February, as series of impact and disruptions brought by the coronavirus contagion boosted the possibility of a recession in the world’s third-largest economy. The underperformance of the sector indicated that the virus greatly impacted the global growth and business, prompting Japanese authorities to […]

China cuts benchmark lending rate to support virus-hit economy

China had cut the benchmark lending rate on Thursday in a widely-anticipated action to lessen its business’ financing costs in an economy disrupted by the virus outbreak. The one-year loan prime rate (LPR) was lowered by 10 basis points to 4.05% at the previous monthly fixing. Meanwhile, the five-year LPR was cut by 5 basis […]

EU to propose plans to boost European firms and compete with U.S. tech giants

EU to propose plans to boost European firms and compete with U.S. tech giants The European Commission said on Wednesday that it will launch initial proposals to help companies in Europe benefit from its rich industry data. The proposal will also help the companies compete better against U.S.-based tech giants such as Facebook Inc., Alphabet […]

Stocks decline as Apple reports risks over coronavirus impact

Wall Street broke from record highs and Asian shares declined after Apple Inc said it will not reach its revenue guidance for the March quarter due to a slower production and weaker demand amid the virus outbreak. The news roused investors from optimistic outlook as it was revealed that China’s economic stimulus would do little […]

Asian shares gain, on its way to second straight week

Asian shares gained on Friday on course for its second straight week, as governments make provisions to dampen the effect of the coronavirus outbreak. MSCI’s index of Asia-Pacific shares outside Japan inched up 0.3%, lifted by gains in South Korea and Hong Kong. On the week, it was up 1.94%. Japan’s Nikkei lost 0.55%, hurt […]

Chinese stocks drop as Hubei virus cases reports double up

Chinese stocks drop as Hubei virus cases reports double up Chinese stocks dropped amid a surge in the number of new people infected by the coronavirus were reported in the Hubei province.   Seen as the province at the center of the epidemic, Hubei raised the death toll to an additional 242 as well as […]

Oil declines on oversupply concerns as virus inflicts China demand

SINGAPORE- Oil prices sunk down further, continuing its previous decline from earlier part of January as worries of oversupply dampened market sentiment. Such inactivity was brought by coronavirus contagion that capped oil demand in China, the world’s biggest oil importer. Brent crude LCOc1 shed 38 cents to $53.63 per barrel with initial trading value of […]

Post-Brexit UK keeps hopes up for early free trade with Australia

Post-Brexit UK keeps hopes up for early free trade with Australia British Foreign Secretary, Dominic Raab told reporters on Thursday that the UK has been eyeing a free trade deal with Australia and hopes that it would be one of their first trade agreements to secure since Britain has exited the bloc. After Britain had […]

Six central banks to hold meeting on cryptocurrency

Six major central banks are planning to conduct a joint research on digital currencies or cryptocurrencies and representatives are considering holding the first meeting in Washington in April, according to a report by Nikkei. The central banks of Switzerland, Canada, Britain, Japan, Sweden, and the Euro zone have announced their plan to join their findings […]

Asian shares inch up on strong US stats, focus on impacts of virus

Asian stocks advanced on Thursday, just a day after US S&P 500 reached all time-high from strong US figures, while markets remained cautious on persisting effect of coronavirus contagion. Japanese Nikkei clocked in 1.63% while MSCI’s broadest index of Asia-Pacific shares acquired 0.39%. S&P 500 .SPX inched up 1.13% last Wednesday, ending its session to […]

Bank of Japan to heighten stimulus as virus concerns affect forecast

MATSUYAMA, Japan- The Bank of Japan (BOJ) is ready to implement and increase stimulus proving that the economy’s recuperation is derailed, Deputy Governor Masazumi Wakatabe disclosed on Wednesday, saying that the novel coronavirus contagion could drastically affect corporate sentiment and international trade. Wakatabe said that Japanese economy recuperated from slowdown last year aided by strong […]

Singapore central bank keeps policy stance amid weakening economic conditions

Singapore’ central bank said that its exchange rate-based monetary policy remains unchanged as the coronavirus outbreak further weakened global economic growth. They furthered that its policy stance remains appropriate as the currency has room to ease within its current settings. Following its lowest growth rate in a decade last year, Singapore had said that the […]

Asian shares advance as China stocks gain but caution lingers

TOKYO- Asian stocks clocked in gains on Wednesday as Chinese stocks inched up brought by optimism of increased stimulus to reduce the economic affliction of coronavirus contagion. However, risks still linger as the virus continues to spread with the mortality rate growing up to 500. MCSI’s broadest index of Asia-Pacific shares outside Japan acquired 0.36%. […]

Dollar gains on upbeat manufacturing data, yuan declines over virus concerns

The dollar steadied on Tuesday as a US manufacturing survey showed sudden recovery, but the yuan and AUD subdued due to wider virus outbreak concerns. The dollar index gained 0.44% on Monday, last at 97.802, as the Institute for Supply Management reported a surprise rebound in factory activity in January after five months of slump. […]

Australia bids for second flight from Wuhan as first batch of evacuees move to Christmas Island

Prime Minister Scott Morrison announced on Tuesday that Australia is considering holding a second evacuation flight from Wuhan City, China amid the outbreak of the novel coronavirus since its first flight already landed on Christmas Island in the Indian Ocean. A total of 241 Australian evacuees safely landed on Christmas Island as the first batch […]

Shanghai stocks decline $370 billion in market cap as virus fears hit Chinese markets

Chinese stock and commodity markets plunged on Monday’s opening as investors ditched risky assets due to rising concerns on the coronavirus spread. The market drop took away nearly $370 billion, or 9% lower in market capitalization from the Shanghai Composite index .SSEC. The yuan opened at its lowest level this year, slipping 1%, past the […]

U.K. Economy in gloom due to Brexit uncertainty

Investors are apprehensive with news of renewed Brexit uncertainty. They had looked into the Kingdom’s economic fundamentals that strongly suggest of economic slowdown. Should the stagnation carry on, rate cut speculations will happen and will pressure the Pound further The Bank of England lowered the forecast for quarterly growth in the remaining 3 months of […]

Nintendo CEO says no plans for new Switch model in 2020

Nintendo CEO says no plans for new Switch model in 2020 Nintedo Co Ltd. CEO Shuntaro Furukawa said on Friday that it has no plans to launch an upgraded Switch model this year. The news halted rumors that the gaming company would release a newer version of the hit handheld device. His comments came a […]

Dampened market sentiment due to coronavirus supports currencies

TOKYO- The dollar reached two-month high against several major peers while Australian dollar and the yuan fluctuated on Thursday as markets armed themselves from assets subject to China’s coronavirus contagion. The US Federal Reserve, while restricting interest rates as predicted on Wednesday, also pointed finger to the coronavirus as the major contributor of uncertainty for […]

Britain flees EU, heads into the trade deal unknown

The United Kingdom finally left the European Union on Thursday night, leaving its trade deal uncertain with the group. The long-planned and waited geopolitical move of Britain has finally come to pass, though the transition period keeps Britain’s membership save for the name until the end of this year. Prime Minister Boris Johnson said in […]

Risk currencies hold steady as investors assess virus fallouts

Risk currencies hold steady as investors assess virus fallouts Risk currencies steadied on Wednesday as investors evaluated the economic damage that resulted from the outbreak of the China virus. Investors banked on hopes that Hong Kong shares will resume trading after the Lunar New Year break. As countries increase efforts to contain the spread of […]

Copper prices plummet as concerns over China virus intensifies

Copper prices plummet as concerns over China virus intensifies London copper dropped to its lowest in 8 weeks on Monday as concerns over the new virus in China intensified after it had claimed 80 victims. On the London Metal Exchange, prices of 3-month copper fell by 1.9% at $5,812/ton, its lowest price since December 4, […]

Britain releases 50 pence coin to mark exit from EU

Britain revealed on Sunday its minted 50 pence coin to mark the country’s exit from the European Union. The said coin was embossed with encryption “Peace, prosperity and friendship with all nations” together with Brexit date of 31 January 2020. An estimated three million coins will be distributed for public use from shops, banks, and […]

Oil prices suffer further as China virus contagion worsens

Oil prices sunk down with 2% loss as it recorded consecutive months of lows on Monday. Such inactivity was brought heavily by the growing number of novel coronavirus cases and city lockdown that may drastically affect demand for crude. Brent crude LCOc1 declined by $1.12 per barrel, or equivalent to 1.9% to $59.57 by 0013 […]

Intel shows signs of turnaround for 2020

Intel shows signs of turnaround for 2020 Intel Corp on Thursday signaled the market view that the chip industry would be reaching a turnaround after a prolonged slowdown. Driven by cloud computing demand, the 2020 forecast is expected to see better revenue than Wall Street’s expectations, Intel added. The company’s sales in its closely watched […]

More central banks plan on issuing virtual currencies

With growing inclination in technology, several central banks are planning to release their own virtual currencies, according to findings of Bank for International Settlement. Research showed an additional 10% increase as 20% of the 66 central banks interviewed are planning to have their own digital coins within the next six years. In line, one in […]

Ford estimates a $2.2 billion pre-tax hit in fourth quarter due to pension plans

Ford Motor Co said that its fourth quarter earnings will be affected by a pre-tax loss of up to $2.2 billion caused by a higher contribution to its employees’ pension plans. The higher contribution was due to a decrease in discount rates, which leads to a larger amount of money to be contributed for future […]

Oil declines for three consecutive days on pressing concerns of coronavirus

Oil prices sunk to lowest level in seven weeks on Thursday dragged by anxiety that contagion of China’s new strain of virus may reduce fuel demand. In line, figures disclosed that United States’ oil inventories advanced last week. The persistent and threatening Coronavirus has resulted to the death of 17 people since it was first […]

Japan recovers from initial virus-related losses, issues still remain

Japan recovers from initial virus-related losses, issues still remain Japanese shares made humble gains on Wednesday as investor panic about China’s coronavirus outbreak eased. While hygiene-related firms continued to be in demand, pressure persisted on the tourism sector. The Nikkei share average rose 0.2% to 23,904.51 in mid-morning trade, partially clawing back losses from the […]

Yen climbs, yuan falls as stocks drop due to China virus outbreak

The Japanese yen climbed while Chinese yuan fell against US dollar as news of coronavirus outbreak in China raised concerns among investors, causing Asian stocks to fall. The yuan fell against the USD in onshore and offshore trade as the fourth death due to the illness was confirmed. A Chinese health expert also warned that […]

Asian shares grow wary on Virus threat in China

SYDNEY- Asian shares slipped on Tuesday as growing concerns about a recently discovered strain of coronavirus in China swiped in risks in Asian financial markets.                 Safe-haven bonds and the yen marginally advanced as investors recalled implications of SARS virus back in 2003, with the possibility of nationwide spread of coronavirus as millions will visit […]

Bank of America aims to ‘double’ consumer market share in US, says CEO

Chief Executive officer Brian Moynihan of Bank of America Corp said that the bank could raise its consumer market twice larger in the US despite fear of major banking institutions. “Our market share in consumer is probably 12, 13, 14 percent, depending on who counts. … The reality is, you could double that,” Moynihan said in […]

Dollar peaks on 8-month high vs JPY as US economy keeps stable growth

US dollar gained against Japanese yen on an eight-month peak due to a stable growth rate in US economy in 2019. Retail sales rose for the third straight month in December while filing claims for unemployment benefits fell for the fifth straight week, showing a strong and stable labor market. Manufacturing activity in the Mid-Atlantic […]

Global stocks reach high level as markets assess Sino-US trade pact

TOKYO- Stocks across the world edged up, reaching record highs on Thursday. Such activity followed after China and the United States signed the “Phase 1” of the trade agreement intended to mitigate their months-long trade dispute that dragged the global economy. Despite positive performance, investors remain cautious as numerous concerns are still unsettled. MSCI’s broadest […]

United States to keep tariffs on Chinese products until Phase 2 pact: Mnuchin

UNITED STATES TO KEEP TARIFFS ON CHINESE PRODUCTS UNTIL PHASE 2 PACT: MNUCHIN WASHINGTON-The United States will continue the ongoing rounds of tariffs on Chinese products until such time that both sides come up with a second phase of the US-China trade agreement, United States Treasury Secretary Steven Mnuchin stated on Tuesday, a day before […]

Trump says China trade deal to be signed shortly after 15th January

Trump says China trade deal to be signed shortly after 15th January U.S. President Donald Trump said on Thursday that the Phase 1 trade deal with China could be signed “shortly thereafter”. “We’re going to be signing on January 15th,” Trump told the ABC TV affiliate in Toledo during an interview, “ I think it […]

Japan consumer spending declines again in November, dents recovering economy

Japan household spending dropped on its second straight month in November, indicating a higher sales tax weighing down on private consumption for a while. Japan has been working to regain momentum after the drop in household spending which followed the October sales tax hike. Japan exports were hit by weak global demands in the past […]

SoftBank-backed delivery company Rappi lays off 6% of workforce

Latin American delivery startup Rappi announced that it dismissed 6% of its employees. This measure came after Japan’s Softbank Group invested a total of $1 billion in Rappi. Rappi did not provide specific figures on how many jobs they have cut. According to the Brazil Journal news outlet, Rappi has 5,000 people working for them, […]

UK-EU trade deal “basically impossible” to negotiate in 1 year says EU head

The head of the European Commission described on Wednesday that Britain’s chances to negotiate all aspects of its post-Brexit relationship with the European Union to be completed within the year as “basically impossible”.            Ursula von der Leyen bared her thoughts about the EU-UK before meeting British Prime Minister Boris Johnson, saying, “The transition time is […]

Wall Street declines as investors wary on US-Iran tension, but chipmakers gain

Wall Street’s major indexes fell as investors become cautious of the escalating tension between the US and Iran. Following this, energy shares also dropped while oil prices recently climbed back up. S&P 500 futures dropped 1% after news of Iranian missile attacks on Iraqi air base housing American troops was reported. The drop in S&P […]

Middle East tension propels yen to three-month high

SINGAPORE- Japanese yen performed well as gold inched higher on Wednesday after Iran attacked base of Iraq hosting US armies. Such tension brought in fears of wider political conflict between Iran and United States driving investors run to safety. Anonymous US officials disclosed that rockets were fired at several target points including Iraq’s al Asad […]

China lifts twenty-year ban on Japanese beef imports as it faces meat supply shortage

China lifted the ban on Japanese deboned beef taken from cows under 30 months old, as notified by the General Administration of Customs. This ends the almost two-decade ban on the beef imports from Japan. This measure comes as China faces severe shortages on meat supply due to an outbreak of African swine fever disease. […]

US business borrowing for capital investment drops 3% in November

Borrowings for capital investments in US companies fell 3% in November compared to last year’s figures, according to the Equipment Leasing and Finance Association (ELFA). US companies signed up for leases, loans, and lines of credit up to $7.8 billion, down from last year’s $8 billion. Borrowings dropped 23% when compared from last month’s. “Uncertainty […]

Japan approves record budget for next fiscal year

Japan approves record budget for next fiscal year Japan’s cabinet has approved a record budget for the next fiscal year amid rising social security costs and a government already struggling with the developed world’s biggest debt. Spending by the Japanese government will increase by about 1.2% to 102.7 trillion Yen ($939 billion) on April next […]

China and US keep close communication on signing of phase one deal

The United States and China are keeping close communication on the signing of the phase one trade deal, China’s commerce ministry said. The phase one of the deal will see to decrease the tariffs imposed on Chinese goods and to boost higher Chinese purchases of US energy, farm, and manufactured goods. The phase one of […]

CITIC sets to become first China firm to lead Asia equity rankings

CITIC sets to become first China firm to lead Asia equity rankings CITIC Securities is poised to become the first Chinese firm to lead annual equity markets (ECM) rankings for Asia-Pacific excluding Japan this year.   Goldman Sachs, Morgan Stanley, and other Western banks have traditionally battled over the top position in the region, where […]

Electrolux to obtain $70 million charge for US overhaul

Swedish appliance maker Electrolux stated that its North American business will obtain $70 million in Q4 as part of moving into a new facility in South Carolina. The new facility in Anderson, South Carolina is set to replace manufacturing in St. Cloud, Minnesota and other facilities in Anderson, driving Electrolux to invest $350 million in […]

IFF announces merger with DuPont’s $26.2 billion nutrition unit

International Flavors & Fragrances Inc plans to merge with Dupont Inc’s nutrition and biosciences unit worth $26.2 billion in a merger deal. This measure was done to create a new consumer giant worth at least $45 billion. Under the terms of agreement, IFF shareholders will own 44.6% of the new company’s shares while DuPont shareholders […]

Singapore Q3 unemployment rate peaks at 2.3% in ten years

Singapore’s unemployment rate in Q3 of 2019 hiked to its highest in 10 years amid economic uncertainty caused by an election to be held in the coming months, official data showed. Overall unemployment rate climbed to 2.3% from the previous quarter’s 2.2%. This was the highest unemployment rate since the fourth quarter of 2009, which […]

Oil prices drop due to surprise hike in US crude stocks

Oil prices dropped due to an unforeseen build in crude inventory in the United States and a slow progress in the US-China trade deals made investors wait on whether new tariffs on Chinese goods will be placed. Brent futures LCOcl slid 0.7%, or 44 cents, priced at $63.90 per barrel by 0342 GMT. US West […]

China expects US to defer Dec. 15 tariff hike amid talks

Amid the ongoing trade deal between China and the U.S., Chinese trade officials expect the U.S. to defer tariff hike slated on Dec. 15. According to sources privy to the on-going talks, the two sides are getting closer to secure an agreement of lowering the tariffs already in place. But instead of lifting the existing […]

HSBC Swiss unit to pay $192 million to resolve latest U.S. tax evasion deal

HSBC Swiss unit to pay $192 million to resolve latest U.S. tax evasion deal The Swiss private banking unit of HSBC Holdings Plc will pay $192.4 million to resolve a U.S. probe of its role in helping wealthy Americans evade taxes through undeclared Swiss bank accounts, according to the U.S. Department of Justice (DoJ). The […]

Japan to cut tax revenue forecast, issue more deficit-covering bonds

Japan is set to cut its tax revenue forecast on the current fiscal year for over 2 trillion yen ($18.41 billion) due to a decline in exports caused by the US-China trade war, a government source said. To compensate the deficit, the Japanese government will release more deficit-covering bonds of almost 2 trillion yen from […]

Asian shares dip as investors anticipate tariff deadline

Asian shares dip as investors anticipate tariff deadline Asian equity markets dipped lowed on Tuesday as investors kept from making major decisions before December 15, when the next round of U.S. tariffs on Chinese imports was due to take effect. A Chinese Commerce Ministry official said on Monday that Beijing hopes to make a trade […]

Australian shares to end weekly session positively; NZ gains

DEC 6- Australian shares were on course to finish this week on a positive foot as market investors remained cautious while waiting for fresh progress in trade pact signing between Washington and Beijing. The S&P/ASX 200 index clocked in 0.2% gains to 6,694.20 by 0015 GMT. However, it was posed to shed 2.5% for this […]

Japan reveals $120 billion fiscal package to support economic growth and post-Olympics slump

Japan revealed a $120 billion fiscal package that aims to stimulate the country’s stalling economic growth while offshore risks and sustainability after the 2020 Tokyo Olympics concern policymakers. Prime Minister Shinzo Abe announced the fiscal package worth 13 trillion yen ($119.7 billion) on Thursday. The people of Japan expects further announcement from the government regarding […]

Trump Administration considers to ban Huawei from U.S. banking system

Trump Administration considers to ban Huawei from U.S. banking system Chinese telecoms giant, Huawei came into the spotlight again amid the prolonged U.S.-China tensions as the Trump Administration reportedly considered banning the company from the U.S. financial system earlier this year. According to a Reuters report, the White House has considered putting Huawei on the […]


The European Union-backed France said on Tuesday it is ready to act against the U.S. threat of imposing tariffs on French products including champagne, cheese, and handbags amounting to $2.4 billion. U.S. President Donald Trump threatened to impose duties of up to 100% on French imports after its investigation revealed that a new digital services […]

South Korean high court ratifies $873-million fine against US chip giant Qualcomm

South Korean high court upheld $873 million fine on US chip giant Qualcomm over unfair business practices linked to patent licensing and modern chip sales. Qualcomm’s appeal against the penalty sanctioned by the Korea Fair Trade Commission (KFTC) in 2016 was rejected by the Seoul High Court, under the ruling of Judge Noh Tae-ak. The […]

Japan government plans to produce $92 billion stimulus package to incite economic growth

The Japanese government is planning to create a large-scale economic stimulus package with more than $92 billion in fiscal spending. This measure comes as uncertainties in the US-China trade deal and weakened global demand affected Japan’s still recovering economy. Prime Minister Shinzo Abe’s administration will issue more bonds of up to 4 trillion yen ($36.82 […]

Frozen 2 bags highest-grossing Thanksgiving weekend honors

Disney has just unlocked another Cinderella run courtesy of Frozen 2’s highest-grossing weekend in the entire history of Thanksgiving in the U.S. It posted $123.7 million domestically over the five day holiday weekend. “Frozen 2” edged out previous record-holder “The Hunger Games: Catching Fire,” which recorded $109 million in 2013. A sequel to the 2013 […]

National Australia Bank to set up unit in Paris ahead of Brexit

National Australia Bank to set up unit in Paris ahead of Brexit National Australia Bank (NAB) had revealed its plans on Friday to set up a unit in Paris that would offer wholesale banking and investment services to most of Europe. The move by one of Australia’s best lender followed similar decisions by other financial […]

Trump’s support for Hong Kong protesters drags Japanese shares lower

TOKYO- Japanese shares sunk down on Thursday following US President Donald Trump’s approval of the recently passed legislation supporting Hong Kong protesters. Such brought derailment in trade talks and reason for “phase one” to slide from happening. The Nikkei share is marginally lower on Tuesday with 0.02% loss to 23,433.16 while the broader Topix shed […]

Major currencies hold its ground as traders await U.S-China trade outcome

Major currencies hold its ground as traders await U.S-China trade outcome Major currencies hardly budged on Wednesday as traders waited for the final outcome of the U.S.-China trade talks. Against the Yen, the Dollar was traded for 109.05 Yen  which was off two-week high of the 109.205 it touched on Tuesday as mild optimism that […]

Asian shares soar as upbeat signals ease trade tensions

Asian shares soar as upbeat signals ease trade tensions Asian shares rose on Wednesday as upbeat signals from Sino-U.S. trade talks fanned hopes of an easing of tariff tensions. The positive mood pushed Wall Street indexes to fresh record-closing highs on Tuesday and stoked confidence in Asia as MSCI’s broadest index of Asia-Pacific shares outside […]

Metal prices hike on Sino-U.S. trade optimism

SINGAPORE-Majority of industrial metals increased in prices on Monday as China and US trade deal optimism reemerged after weeks of market anxiety.   The signing of ‘phase one’ could happen by the end of this year, a senior US official said over the weekend after Chinese President Xi Jinping and US President Donald Trump disclosed […]

U.S.-China Trade Deal Phase 2 looks improbable, officials say

Phase 2 of the U.S.-Sino trade deal is looking less probable as officials of both parties bared. This is after the “phase 1” agreement is not settled by the two countries. U.S. President Donald Trump said during his conference with Chinese vice Premier Liu He in October that he wanted to have a “phase 2” […]

Lack of Sino-U.S. trade progress dampens Asian markets

Lack of Sino-U.S. trade progress dampens Asian markets Chinese stocks underperformed leaving Asian markets mixed on Friday as a lack of concrete signs of progress on U.S.-China trade relations continued. China’s Shanghai Composite and the Shenzen Component dropped 0.6% and 1.3% respectively by 10:50 PM ET (02:50 GMT).   Trade tensions intensified after the U.S. House of […]

SoftBank checks with Japan’s top lenders for $2.8 billion loan

Softbank Group Corp is checking with Japan’s top three banks to loan 300 billion yen ($2.8 billion) to be used as fund for support of US startup WeWork, according to three sources who refused to give identity. Although no official talks have begun, Softbank has approached Mizuho Financial Group Inc, Mitsubishi UFJ Financial Group Inc, […]

Indian shares soar; bank, telecom stocks earn

NOV 19- Indian shares soared on Tuesday boosted by banking and telecom stocks. This followed after two major mobile network service providers disclosed their scheme of increasing tariffs this coming December. The NSE Nifty 50 index inched higher with 0.2% with 11,906.25 while the S&P BSE Sensex acquired 0.4% to 40,455.36. “Markets are in a […]

Tata Steel to cut 3,000 jobs across Europe as crisis bites

Tata Steel to cut 3,000 jobs across Europe as crisis bites Tata Steel Ltd. had revealed plans to cut about 3,000 jobs across its European facilities to cut costs following the latest blow to the regions industry. According to the company’s statement, around two-thirds of the reductions would be office-based staff. However, the steel-making facility […]

Oil prices drop, market anxious about slow progress in U.S.-China trade talks

U.S. oil prices dropped for two days in a row while the market is anxious on the doubted prospects of a trade deal between the U.S. and China. Trade talks between the two countries have resulted to limited progress as U.S. inventories continually rose. West Texas Intermediate (WTI) crude fell 10 cents or 0.18% from […]

Thailand’s economy expected to post muted recovery

Thailand’s economy expected to post muted recovery Thailand’s economic expansion is expected to recover modestly in the third quarter from the slowest pace in almost five years which was weighed down by a strong local currency. GDP likely rose 2.8% in three months through September from a year earlier. This was according to the median […]

US and China getting close to a trade deal, says White House economic adviser

The United States and China are getting close to a trade deal, said White House economic adviser Larry Kudlow. He added that the two parties were having very constructive talks to put an end to the 16-month trade war. Trade negotiators of both China and the US were having talks over the phone, according to […]

Hyundai extends $410 million expansion in Alabama to make Santa Cruz pickups

South Korean automaker Hyundai Motor set to create Santa Cruz pickup trucks at the U.S. factory in 2021 with a $410 million investment, as it plans to enter the competitive market led by American rivals. Hyundai announced its Alabama factory expansion as Trump is expected to delay a self-imposed deadline on imposing tariffs of about […]

Trump threatens to renew trade attack on China

Trump threatens to renew trade attack on China U.S. President Donald Trump has threatened to renew trade attack on China after he called the nation “cheaters”. “No one has manipulated or taken advantage of the United States more since China’s entrance into the World Trade Organization.” Trump said on Tuesday night at the Economic Club […]

Oil drops due to oversupply and doubts on US-China trade deal

Oil prices fell amid resurfacing doubts on trade deal between the US and China, as well as excess supplies affecting the market. The contract climbed 1.3% last week while Brent crude dropped 0.9%, or 55 cents, placing it at $61.96 per barrel. US crude was 47 cents, or 0.8%, at 56.77 per barrel, as it […]

World billionaires experience wealth decline for the first time in ten years

World billionaires’ wealth fell for the first time in a decade due to geopolitical unrest and fluctuating equity markets. According to the Union Bank of Switzerland (UBS), the world’s richest people experienced a decline in their wealth last year. Overall, billionaires’ wealth reduced between $388 billion and $8.539 trillion all over the world, with an […]

Oil prices slip as crude stockpiles soar past market expectations

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 […]

Venue for Sino-U.S. trade pact signing becomes growing concern

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 […]

Oil gains due to U.S.-China trade deal optimism

Oil prices increased last Tuesday in light of positive economic records and as Sino-U.S. trade deal progress minimizes tension and anxiety across global market. Brent crude LCOc1 was quoted up to 17 cents. This is equivalent to 0.3% at 62.30 per barrel at 0909 GMT. In line, U.S. crude CLc1 jumped up to 10 cents […]

Nigel Farage accused of wanting to author “hung” parliament

Nigel Farage is accused by Steve Baker, the chairman of the European Research Group, of paving a way for a “weak and indecisive” hung Parliament. Farage is seen by a number of his critics as the “man who threw away Brexit”. A number of his allies have also expressed concerns that Farage may have gone […]

Prime Minister Boris Johnson, dismayed over delayed Brexit

October 31st was supposed to see Britain’s exit from the E.U. But as politics would have it, it didn’t push through. In an interview, Brexit Party leader Nigel Farage said he is, “…deeply, deeply disappointed…it’s a matter of deep regret,”. Regarding if he were dismayed and sorry about missing the deadline, PM Boris Johnson was […]

U.S. Fed cuts interest rates despite global economic slowdown

U.S. Fed cuts interest rates despite global economic slowdown The Federal Reserve had cut interest rates on Wednesday for the third time in the year global economic slowdown. However, the Federal Reserve signaled that there would be no further reductions unless the economy takes a turn for the worse. “We believe the monetary policy is […]

Bombardier in talks to sell three plants to Spirit AeroSystems for $1 billion

Bombardier in talks to sell three plants to Spirit AeroSystems for $1 billion Canada’s multinational manufacturer Bombardier Inc is in advanced talks to sell three of its facilities to Spirit AeroSystems for more than $1 billion in cash and assumed liabilities according to two sources familiar with the matter on Thursday. The two companies are […]

China to proceed with trade negotiations with the U.S. as planned

China to proceed with trade negotiations with the U.S. as planned China’s commerce ministry said on Thursday that Beijing and Washington will proceed with the bilateral trade negotiations according to plan and that the talks have been progressing well. The ministry said in a statement that the two countries remained in clos communication and that […]

German unemployment rises more than October’s expectation

German unemployment rises more than October’s expectation Germany’s unemployment rose more than expected in October suggesting that a manufacturing crisis in Europe’s largest economy is spilling over to the labor market. Data from the Federal Labour Office showed the number of people without work increased by 6,000 to a total of 2.287 million in seasonally […]

Volkswagen to ramp up Chinese electric car production

Volkswagen to ramp up Chinese electric car production Volkswagen is ramping up production of electric cars to around 1 million vehicles by the end of 2022. These statistics would enable the German carmaker to leapfrog Tesla Inc and making China the key battleground. Volkswagen is preparing two Chinese-based factories to build electric cars next year. […]

AIA’s share price climb following release Q3 business results

AIA’s share price climb following release Q3 business results Share prices of the Hong Kong-based insurer AIA Group Ltd climbed up 4% in Aisa after it had posted business results in the three months to September 30. In a statement released on Monday, AIA said that its business had been affected by a “challenging operating […]

China to request U.S. to remove tariffs in exchange for farm purchases

China to request U.S. to remove tariffs in exchange for farm purchases Top U.S. and Chinese trade officials will discuss plans on Friday for China to buy more U.S. farm products. However, Beijing will request cancellation of some planned and existing U.S. tariffs on Chinese imports according to people who briefed on the talks. U.S. […]

Offshore wind farms to invest $1.2 trillion to hit climate goals

Offshore wind farms to invest $1.2 trillion to hit climate goals An influx of new offshore wind farms around the world is set to invest an estimate of $840 billion over the next two decades, the International Energy Agency (IEA) said. The Paris-based institution’s outlook for an additional 20 gigawatts of new offshore capacity a […]

South Korea’s economy sluggish as trade war weigh on investments

South Korea’s economy sluggish as trade war weigh on investments South Korea’s economy grew at a slower pace in the third quarter, making it the smallest expansion since the global financial crisis as trade uncertainties weigh on investment. Gross domestic product increased 0.4% from the previous quarter, the Bank of Korea said in a statement, […]

Oil prices drop after recovering from surprise dip in U.S. inventories

Oil prices drop after recovering from surprise dip in U.S. inventories Oil prices dropped on Thursday in Asia which overlooked gains following a surprise dip in U.S. inventories. Oil prices rallied more than 1% overnight after the U.S. Energy Information Administration reported an unexpected 1.7-million-barrel crude inventory drop for the week compared to analysts’ expectations […]

Caterpillar profit falls as demand weakens

Caterpillar profit falls as demand weakens Caterpillar Inc (CAT) fell short of Wall Street estimates for quarterly profit on Wednesday as it was hit by weak demand for its construction and mining equipment businesses. The company, cutting its 2019 profit forecast, also sent its shares down 5%. The Illinois-based company has been suffering from the […]

Nigeria’s oil industry risks disruption

Nigeria’s oil industry risks disruption Nigeria risks disruption in oil and gas supplies as well as power generation due to declining exploration activity and depleting oil reserves, the Nigerian Association of Petroleum Explorationists (NAPE) has warned. Inefficient contract and procurement awarding process, oil theft, and illegal refining are the key obstacles to Nigeria’s oil and […]

UK government puts pressure on US over whisky tariffs; trade minister says

UK government puts pressure on US over whisky tariffs; trade minister says Britain is putting pressure on the United States to rethink a decision to impose tariffs on Scottish whisky, trade minister Liz Truss said on Thursday. The United States had plans to impose 25% tariffs on a range of European products which after it […]

Italy to introduce tax on digital companies in 2020

Italy to introduce tax on digital companies in 2020 Italy has approved a new tax on digital companies as part of its 2020 draft budget along with plans to introduce the new measures next year. The levy will oblige web-based companies to pay a 3% tax on internet transactions, according to the text of the […]

China’s copper imports soars to eight-month high

China’s copper imports soars to eight-month high China’s copper imports rose 10.15% in September, making it their highest in eight months as high prices drew shipments to Shanghai, the world’s top consumer of the metal. According to the General Administration of Customs, the arrival of unwrought copper, refined, and semi-finished copper products stood at 445,000 […]

U.S. blacklisting lowers China’s expectations for trade talks

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 […]

India seeks safeguards in China-led trade pact

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 […]

Exxon’s third-quarter earnings hurt by weak oil prices

Exxon’s third-quarter earnings hurt by weak oil prices Exxon Mobil Corp’s operating profits fell last quarter for the fourth consecutive period. According to a regulatory filing on Tuesday, it showed all three businesses slumping from a year ago. According to a securities filing, lower oil prices, weak results in its chemical business, and the lack […]

Thomas Cook owes $381 million to Turkey’s Tourism Sector

Thomas Cook owes $381 million to Turkey’s Tourism Sector Turkey’s Tourism Advisory Council said that it estimates that the travel agency, Thomas Cook owes the local sector around €350 million ($381.8 million). They added that it were to be impossible for the amount to be repaid in the short-term and medium-term. Thomas Cook collapsed last […]

Best Buy targets $50 Billion in Revenue by 2025

Best Buy targets $50 Billion in Revenue by 2025 Best Buy Co. Inc. announced on Wednesday that it aims to rake in revenue of $50 billion and cut about $1 billion in costs by 2025 by ramping up its healthcare technology business. The biggest U.S. consumer electronics retailer has zeroed in on healthcare technology as […]

Wrightbus goes into administration, risking 1,400 jobs

Wrightbus goes into administration, risking 1,400 jobs Wrightbus, maker of the revived Routemaster bus and one of Northern Ireland’s biggest employers has collapsed into administration, putting 1,400 jobs at risk. The failure of Wrightbus represents the UK’s second significant insolvency of the week, following the demise of the holiday group, Thomas Cook. The Ballymena-based engineering […]

Metro Bank shares fall after investors turn away £200m bond sale

Metro Bank shares fall after investors turn away £200m bond sale Metro Bank shares plunged more than 35%, a record low on Tuesday after wary investors refused to purchase bonds, another blow to the bank since it revealed an accounting error in January. The bond sale was launched on Monday morning, tempting buyers with an […]

UK inflation drops to its lowest for nearly three years

UK inflation fell to its lowest level in almost three years after the end of summer sales held clothing prices down. Annual rate had dipped to 1.7% in August according to the Office for National Statistics, taking inflation down to the lowest level since December 2016. Marking the drop as the biggest fall in the […]

KPMG forecasts no-deal Brexit recession in 2020

KPMG forecasts no-deal Brexit recession in 2020 Britain could plunge into its first recession in a decade should the government quit the EU without a deal, according to the latest in a string of gloomy forecasts made by the Bank of England and the Treasury’s independent forecasting unit, the Office for Budget Responsibility. Economists at […]

UAE warns Saudi Aramco attacks can dangerously escalate

UAE warns Saudi Aramco attacks can dangerously escalate The attacks carried out on Saudi Arabian oil plants are a dangerous escalation and the international community should stand by Riyadh to ensure regional stability, a senior United Arab Emirates official said on Tuesday. Saudi Arabia said that initial findings indicated that the weekend attacks which had […]

LSE rejects Hong kong’s multi-billion takeover Bid

LSE rejects Hong Kong’s Multi-Billion Dollar Takeover Bid The London Stock Exchange (LSE) had rejected Hong Kong’s $37 billion takeover bid, expressing the amount to be low, politically risky, and lacking strategic merit. In a strongly worded statement, LSE’s board said that it “unanimously” rejected the week’s conditional proposal from Hong Kong Exchanges and Clearing […]

Oil Prices Soar after Saudi Facility Attacks

Oil Prices Soar after Saudi Facility Attacks Oil prices surged to four-month highs on Monday after attacks on crude facilities in Saudi Arabia as supply fears sparked. The strikes on the facilities, which occurred in the weekends, halted 5% of the world’s oil production. Crude Futures on both sides of the Atlantic hit their highest […]

Supermarket figures concerned as no-deal Brexit will inevitably hit supplies

A No-deal Brexit would “inevitably disrupt” fresh food supplies in Britain as delays at ports would throw time-deliveries into chaos, a chief executive of the supermarket group Sainsbury expressed. Mike Coupe said the October 31st Brexit date could not have come at a worse time for supermarkets as warehouses were already full with produce for Christmas. […]

Asian markets rise amid hopes of calming trade war

Asian stocks rallied up on continued hopes that a cooling in the US-China trade war could be nearing. Investors stayed positive of the highly-anticipated trade talks between the United States and China in the coming weeks. The two countries have been thought to show interest in easing tensions between them. Advisers of US President Donald […]

British American Tobacco plans jobs cuts in shift towards vaping

British American Tobacco (BAT) announced plans to cut 2,300 jobs by 2020 in readiness for a shift towards non-tobacco products a day after US President Donald Trump said that he was considering a ban on flavored e-cigarettes. The vast majority of BAT’s £24.5bn revenue in 2018 came from traditional cigarettes, but the company said it […]

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