The economic implication of the novel coronavirus is expected to severe the South Korean economy further, with the unemployment rate likely to surge to an unprecedented level, South Korea President Moon Jae-in said on Tuesday. At a policy ...
Asian shares and U.S. stock futures recorded a frail performance on Tuesday, erasing previous earnings as oil prices declined sharply. The weak trading activity monitored in oil prices dampened investors’ sentiment regarding pandemic-related ...
The European Union organizations affected by the virus outbreak will have the option to request a government loan up to 5% of their turnover last year under a benchmark proposed by the European Commission, a reliable source stated on Sunday. Different ...
Diamond Offshore Drilling Inc (DO.N), a Houston-based contract drilling company, applied for bankruptcy protection in Texas on Sunday, after it missed an interest payment and disclosed it still enlisted restructuring advisers. In Chapter 11 ...
The Dollar ended its week-long gain streak on Monday in Asia. The U.S. Dollar Index lost 0.28% to 100.148 at 11:30 Am ET (4:30 AM GMT) Investors had flocked to the Greenback in the previous weeks as a pandemic-led economic turmoil drove to ...
On Sunday, China’s second-largest pork producer, Muyuan Foodstuff Co. reported a net profit of CNY4.1 billion ($578.86 million) for the first quarter of the year at the Shenzhen Stock Exchange. Muyuan’s shares soared by 5.21% to ...
The Bank of Japan has been providing stimulus supports for two months already, with additional support filed on Monday to alleviate corporate funding from financial drag. It was also set to aid government spending aimed at nursing the economic ...
Asian shares rose on Monday as the Bank of Japan revealed additional stimulus measures to support the economy from the impact of the pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.2%, recovering some of ...
Oil prices dropped on Monday as oil storages around the world are filling rapidly. This raised concerns that output cuts may not compensate for the collapse in demand due to the pandemic. U.S. oil futures fell after U.S. crude inventories ...
The inactivity currently faced by the U.S. economy due to the virus pandemic appears to be the sharpest contraction that will likely boost the national unemployment rate by up to 16% or higher. The steep forecast requires large volumes of ...
Burberry (BRBY.L), a British luxury fashion brand, said on Friday that it will keep on paying its employees who can’t work because of store closures amid the virus outbreak. The company also added that it won’t depend on government ...
L Brands Inc. (BRBY.L) sued Sycamore Partners on Thursday after cancelling the purchase of a $525 Million deal of controlling stake in lingerie retailer Victoria’s Secret. It is the first major U.S. legal fight over an agreement ...
U.S. Natural gas has been set as the most expensive energy commodity for the first time in more than a decade as the COVID-19 pandemic continues to disrupt demand in other regions. U.S. Gas futures gained up to 10% to $1.815 per million BTU ...
Today, April 24th saw the falling of Asian shares and U.S. stock futures. This resulted from doubts on narcotics that could potentially cure COVID-19 and an apparent damage in the U.S. economy due to the outbreak. Among the shares in the Asian ...
A Reuter’s study reported on Friday that the pandemic-driven global economic downturn will record its sharpest fall this year. Meanwhile, a U-shaped economic recovery is also seen to take place based on the analysis of economists across ...
European shares slipped on Friday as market fears were reignited following a disappointing report over the unsuccessful development of a potential COVID-19 treatment. The pan-European STOXX 600 index slipped by 1.1% at 0719 ...
Oil prices gained on Friday as Kuwaiti oil producers said they will slash output to compensate for low demand. Brent crude rose 2.8%, or 60 cents, at $21.93 per barrel. U.S. oil was up 4%, or 66 cents, at $17.16 per barrel. As the West ...
The dollar was headed for its best week as low oil prices weighed on commodity currencies. The dollar index is nearing more than a two-week high after gaining 0.8% this week. It is up almost 3% on the oil-sensitive Norweigan Krone and ...
The United Auto Works (UAW) said on Wednesday night that discussions with Detroit’s major automakers are still inching towards safely reopening U.S. production plants. Collectively known as Detroit’s Big Three, Ford Motors Co, ...
On Wednesday, a leading financial industry trade group told regulators, “U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control ...