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Company news

24.07.2020 11:00:24

Dollar continues descent as prospects for U.S. economic recovery dampens

The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...

24.07.2020 11:00:24

Elon Musk’s SpaceX in talks to raise new funds at $44 billion valuation

Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...

24.07.2020 11:00:24

Apple faces multi-state investigation due to deceptive trade practices

On Friday, Axios Media Inc. reported a document acquired by tech watchdog group Tech Transparency Project which indicates that multiple U.S. states were investigating Apple (AAPL) due to deceptive trade practices. According to the report, ...

24.07.2020 11:00:23

Oil rises, but gains capped by demand, U.S.-China tensions

Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...

24.07.2020 11:00:23

Fed's lending program grows as balance sheet holds above $7 trillion

The U.S. Federal Reserve eased another $2 million in emergency loans this week to help struggling U.S. businesses amid the recession. The Fed’s overall asset portfolio reported growth for the second week, holding above $7 trillion. The ...

24.07.2020 10:00:23

U.S. economic forecast dims, job recovery may reverse

The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...

24.07.2020 10:00:22

Wall Street declines on tech selloff

Wall Street recorded a sharp decline on Thursday.  This followed after investors fled market-leading technology shares due to mixed earnings reports and pieces of evidence of a worsening virus crisis, increasing the possibility of a sharp ...

23.07.2020 14:00:30

Flipkart acquires Walmart Indian stores

Flipkart Ltd announced on Thursday that it acquired a 100% stake in Walmart India Pvt Ltd that operates local cash-and-carry business. The electronics retail company had also launched its new digital marketplace called Flipkart Wholesale. “With ...

23.07.2020 14:00:30

Tesla to join the S&P 500 Index while CEO Elon Musk pushes for growth

On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...

23.07.2020 14:00:30

Dollar trades lower as German confidence, EU stimulus plan boosts risk appetite

The Dollar traded lower earlier on Thursday in European markets after new hope of an economic recovery in Europe bolstered sentiment. The Dollar index fell by 0.1% to 954.808 at 3:10 AM ET (0710 GMT), gaining only slightly from the four-month ...

23.07.2020 14:00:30

China's June diesel exports sees record slump since September 2018

China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...

23.07.2020 11:00:24

Oil climbs, but gains capped by weak demand

Oil prices rose on Thursday, but an unexpected build in U.S. crude oil reserves capped gains as the coronavirus pandemic curbed fuel consumption. U.S. crude and distillate stocks rose while fuel demand fell in the past week as a continuous ...

23.07.2020 11:00:24

Asian shares fall as U.S. orders China consulate closure, fanning tensions

Asian shares fell on Thursday as the U.S.-China tensions overshadowed hopes for more economic stimulus after Washington ordered the closure of Beijing’s consulate in Houston amid spying allegations. China called the order an “unprecedented ...

23.07.2020 09:00:28

U.S. home sales see record high; tight supply, virus crisis restrict growth

Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...

23.07.2020 09:00:28

SoKor suffers from recession on exports’ historic decline

The second quarter had seen South Korea slipping into recession. This came to be the country’s sharpest economic downturn in more than two decades as the novel coronavirus crisis weighed on exports and social distancing measures halted ...

22.07.2020 13:00:27

Waymo and Fiat Chrysler sign a partnership deal to develop self-driving cars

The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...

22.07.2020 12:00:41

South Korea scales back capital gains tax on stock amid investor complaints

South Korea on Wednesday announced that it would scale back its plans to impose capital gains taxes on stock investments after numerous complaints from retail investors. However, taxes will, instead increase for top earners as part of changes ...

22.07.2020 12:00:41

Japan’s industrial output for June may recover from pandemic slump, Reuters poll

Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...

22.07.2020 12:00:41

Snap shares fall after a strong earnings report

On Tuesday, Snap Inc.’s (SNAP.N) stock price declined by more than 11% in after-hours trading as investors digested the company’s user and revenue growth after its second-quarter earnings report. The social media company reported ...

22.07.2020 09:00:38

Oil falls on U.S. crude inventory build, coronavirus fears

Oil prices dropped on Wednesday as the inventory build in U.S. industry data exceeded expectations, while coronavirus cases continue to surge in the United States, the world’s biggest oil consumer. The American Petroleum Institute reported ...

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