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Company news

12.05.2020 11:01:32

Oil gains as Saudi Arabia announces further output cut

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 ...

12.05.2020 11:01:32

Dollar hits two-week high amid safe-haven demand, second coronavirus wave

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 ...

12.05.2020 09:01:37

Logitech sales advance on demand urge

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, ...

12.05.2020 09:01:37

China’s factory deflation worsens on virus-beaten demand

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 ...

11.05.2020 13:01:13

Gold drops just above $1,700 mark amid fears of second COVID-19 wave

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 ...

11.05.2020 13:01:13

Dollar declines as lockdown measures ease

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 ...

11.05.2020 13:01:13

Neiman Marcus Group obtains bankruptcy court approval to access funds

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 ...

11.05.2020 13:01:13

Pfizer outsources drug production to focus on experimental coronavirus vaccine

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 ...

11.05.2020 11:01:25

Oil falls due to oversupply, fears of second coronavirus wave

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, ...

11.05.2020 11:01:24

Asia shares climb as more countries ease restrictions

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 ...

11.05.2020 10:00:56

China slashes interest rates for SLF loans in April

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 ...

11.05.2020 09:01:15

Emirates to increase debt as worst months loom

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08.05.2020 12:01:04

High-end retailer Neiman Marcus files for bankruptcy protection amid virus outbreak

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 ...

08.05.2020 12:01:04

Virgin Atlantic Airways plans to cut 3,150 jobs this year to gain new investment

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 ...

08.05.2020 12:01:04

Gold prices up amid rising US unemployment claims

Gold prices rose in Asia on Friday morning, carrying over its gains of around 2% from the previous session. Gold futures gained 0.07% at $1,726.95 at 12:01 PM ET (5:01 AM GMT), reclaiming lost ground from a drop of 0.2% earlier in the session. Investors ...

08.05.2020 12:01:04

Asian stocks rally after NASDAQ enters positive territory

Asian shares ended on a week high during the previous session after NASDAQ entered positive territory for the first in the year. Japan’s Nikkei led the rally, gaining 2.07% at 10:53 PM ET (3:53 AM GMT) after the nation had granted “exceptional ...

08.05.2020 10:01:11

Japan household spending falls in March as virus-driven disruptions press

Japan’s household spending declined by 6.0% in March from a year earlier, according to the government data released on Friday, highlighting the deepening impact of the pandemic on the world’s third-biggest economy. The frail reading ...

08.05.2020 10:01:11

Nintendo surpasses Switch forecast; Animal Crossing tops demand

Japan’s Nintendo Co Ltd (7974.T) advanced with a 200% increase brought by surging demand in Switch games console. More so, Animal Crossing: New Horizons sold a record of 13.4 million units in its first six weeks, on track as the company’s ...

08.05.2020 10:01:10

Oil rises as countries ease lockdowns

The dollar fell on Friday as countries began lifting lockdowns, hinting of a recovery in demand caused by the coronavirus crisis. Brent crude rose 1.5%, or 47 cents, at $29.33 per barrel. U.S. oil was up 1.5%, or 48 cents, at $24.03 per barrel.  Both ...

08.05.2020 10:01:10

Risk currencies gain on the dollar, economic recovery underway

The dollar fell on Friday as investors bought risky currencies due to gloomy U.S. employment data yet to be released. The market mood eased after the United States and China said that their top negotiators agreed to cooperate amid the economic ...

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