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The Finance Ministry of the United Kingdom worries that the government’s budget deficit this year could reach a record 337 billion pounds as the coronavirus pandemic continues to wreak havoc to the British economy. This development is ...
Nissan Motor Co. is gearing itself into cutting $2.8 billion of its annual fixed costs as part of a restructuring effort. News titan Bloomberg had reported the matter on Wednesday as the company prepares for a sales drop that further compromises ...
The largest coffee house chain in the world, Starbucks Corp. (SBUX.O), announced on Monday that it would begin the “phased reopening” of 150 branches in the United Kingdom. With the easing of restrictions allowing more travel on ...
Virgin Group’s founder Richard Branson stated on Monday that it would sell $25 Million worth of Virgin Galactic shares to raise funds for the space tourism company as the pandemic threatens to cripple his business empire. “Virgin ...
Gold prices rose on Tuesday morning in Asia, continuing two consecutive losses from the previous sessions amid piling concerns of a second wave of COVID-19 cases. Gold futures gained 0.42% at $1,705.05 per ounce at 12:05 AM ET (5:05 AM GMT) ...
Japan is planning to approve its first COVID-19 antigen testing kits on Wednesday, according to an official from the Health Ministry. The decision comes in a bid to increase the number of diagnostic tests available to combat the pandemic. Fujirebio ...
Oil futures gained on Tuesday, lifted by Saudi Arabia’s deeper production cuts to buoy prices amid the supply glut and weak demand. Brent crude futures rose 0.8%, or 24 cents, at $29.87 per barrel. U.S. West Texas Intermediate crude ...
The dollar hit a two-week high against major currencies on Tuesday amid rising U.S. bond yields and a higher demand for safe haven. This came after reports of new infections threatened a possible second coronavirus wave. The Australian dollar ...
Logitech International (LOGN.S) recorded a 13.6% increase in sales on Tuesday. The technology provider’s fourth-quarter profit advanced after people working from home purchased necessary products amid the coronavirus pandemic. Logitech, ...
China’s factory prices dropped at its worst level in four years. April records indicated frail industrial demand in the world’s second-biggest economy as the COVID-19 pandemic restricts economic growth. The producer price index ...
Gold prices fell on Monday morning in Asia, but still remained above the $1,700 mark. Gold futures dropped by 0.26% to $1,709.60 per ounce by 11:58 PM ET (4:58 AM GMT). Meanwhile, Asian stocks saw gains. Gold and stocks have been observed ...
The U.S. Dollar fell on Monday morning in Asia, losing a portion of its gains from the start of the session. The Dollar was bolstered after several countries planned to ease lockdown measures, improving investor sentiment. The three leading ...
The United States luxury department store chain Neiman Marcus Group (NMG.A) received interim approval of its first day motions on Friday from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The Court has approved ...
The American multinational pharmaceutical corporation Pfizer Inc. (PFE.N) announced on Friday that it will subscribe to contractors outside the company for it production. It is in preparation for a large-scale production of the experimental ...
Oil prices dropped on Monday due to oversupply and a gloomy economic outlook caused by the coronavirus pandemic. This prompted some of the world’s top producers to cancel their supply cuts. Brent crude futures lost 0.9%, or 29 cents, ...
Asian shares gained on Monday as investors await more countries to re-open their economies despite a pick up in coronavirus cases. South Korea warned of a second wave of infections as cases grew to a one-month high, while new infections were ...
China’s central bank reduced interest rates on its standing lending facility (SLF) in April. The scheme was to implement similar reductions made in other liquidity instruments aimed at salvaging the virus-beaten economy. The People’s ...
Emirates, one of the world’s largest long-haul airlines, announced on Sunday its plan of increasing debtEmirates, one of the world’s largest long-haul airlines, announced on Sunday its plan of increasing debt to alleviate the damage ...
The United States luxury department store chain Neiman Marcus Group (NMG.A) applied for bankruptcy protection in a federal court in Houston on Thursday. In Chapter 11 of the filed document, the retailer company signed an agreement with major ...
In a memo to pilots seen by Reuters, Virgin Atlantic Airways Ltd. revealed plans on Friday to slash 3,150 jobs this year.The company is taking “self-help” measures to receive financial aid from either the British government or ...
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