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Company news

08.07.2020 06:00:30

Oil falls as build in U.S. crude stocks adds to oversupply fears

Oil prices fell in early Wednesday trade as a build in U.S. crude inventories and a forecast for U.S. crude production to fall less than expected added to oversupply concerns. Brent crude futures lost 0.3%, or 13 cents, at $42.95 per barrel. ...

08.07.2020 06:00:29

Dollar firms as rising coronavirus cases weigh on recovery fears

The dollar firmed on Wednesday as a surge in new U.S. coronavirus cases and the reinstatement of lockdowns in several countries prompted a safe-haven bid. Risk sentiment also weakened after Federal Reserve officials stated that the rising ...

07.07.2020 14:01:04

European Commission forecasts deeper recession for 2020

The economy in the European Union will plunge deeper into recession for 2020 and may recover only slightly in 2021 than previously thought, the European Commission predicted on Tuesday. The downbeat assessment of Europe's economy comes as ...

07.07.2020 14:01:04

Indonesia imposes 10% VAT on Amazon, Google, Netflix and Spotify

Indonesia on Tuesday imposed a 10% VAT on products by technology firms including Amazon, Netflix, Spotify, and Google as lockdowns forced a surge in spending patterns as well as remote working, which has hit state finances. The Southeast Asian ...

07.07.2020 13:01:18

Tesla’s shares surge by 13%, the most bullish target on Wall Street

On Monday, Tesla Inc.’s shares (TSLA.O) rose by 13% to an all-time intraday high of $1,342 per share. Some analysts said that the electric car maker's shares could surge another 24% this year. JMP Securities (JMP) boosted its price target ...

07.07.2020 13:01:17

United Airlines to add more international routes in September

On Monday, United Airlines (UAL.O) announced that it would continue adding more flights for international routes in September. The airline company plans to reintroduce flights that were canceled due to coronavirus pandemic. United Airlines ...

07.07.2020 11:01:18

Oil drops on demand worries as U.S. virus cases surge

Oil prices dropped on Tuesday as investors feared that the steady rise in coronavirus cases in the United States will stall demand recovery. U.S West Texas Intermediate crude futures were down 0.4%, or 17 cents, at $40.46 per barrel. Brent ...

07.07.2020 11:01:18

Dollar firms as investors weigh risks

The dollar firmed on Tuesday as risks from rising coronavirus infections compensated for strong economic data and capped confidence on economic recovery. The dollar steadied on most majors, while the dollar index held on a near two-week low.  The ...

07.07.2020 08:01:15

Philippine inflation at faster pace in June as government lifts lockdown

June had seen Philippine inflation advancing faster than what was initially thought. This followed after one of the world’s longest coronavirus lockdowns was lifted. Moreover, food, fuel prices, and the transport index were seen at higher ...

07.07.2020 08:01:15

Japan’s household spending hits record slump as travel, dining out suffer

May had seen Japan’s household spending declining at its most rapid pace. This drove the world’s third-biggest economy further into decline as consumers heeded authorities’ mandate of staying at home to contain the novel ...

06.07.2020 13:01:17

Gold prices dip as surging COVID-19 cases halts recent rally

Gold prices fell earlier on Monday in Asia as a continuous surge in new COVID-19 cases halted its recent rally and battered hopes of a swift economic recovery. Market sentiment soured as investors digested the number of cases worldwide. The ...

06.07.2020 13:01:17

UK new car sales sees smaller slump for June on annual basis

New car registrations in the United Kingdom slipped by a third on an annual basis in June after several dealerships resumed operations amid loosening lockdown measures, preliminary data from an industry body. The drop is seen as relatively ...

06.07.2020 13:01:17

Japan’s Fujitsu to shut down half of its offices in Japan

On Monday, Fujitsu Ltd. (6702.T) announced that it would halve its office space in Japan by March 2023 as it pushes for its 80,000 employees to work remotely amid the coronavirus outbreak. The IT solutions company said that its employees would ...

06.07.2020 13:01:16

Warren Buffett’s Berkshire buys Dominion Energy's natural gas assets for $4 billion

Berkshire Hathaway Inc.’s (BRK.A, BRK.B) Chief Executive Officer Warren Buffett announced on Monday that its energy unit agreed to purchase the natural gas transmission and storage assets of utility company Dominion Energy Inc. (D.N) ...

06.07.2020 11:01:02

French economy recovers faster than previously thought: central bank

The French economy is emerging from the inactivity brought by the coronavirus outbreak as fast or faster than what was predicted a month earlier, Bank of France Governor Francois Villeroy de Galhau said on Sunday. Last month, the Bank of France ...

06.07.2020 11:01:02

Oil prices mixed as virus surge drags U.S. demand

Brent crude advanced on tighter supplies while U.S. benchmark WTI futures fell on concern that an increase in novel coronavirus cases could cap oil demand in the United States. This projected a mixed market view on Monday. Brent crude LCOc1 ...

06.07.2020 11:01:02

Dollar trades in narrow range, yen drops

The dollar steadied against its peers on Monday as investors awaited data showing a rebound in the U.S. services sector, a sign that the economy is recovering. The dollar climbed to 107.74 on the yen. It slid to 0.9443 on the Swiss franc.  The ...

06.07.2020 11:01:02

Asia shares gain, Chinese blue chips hit five-year high

Asian shares hit four-month highs on Monday as investors relied on liquidity and market stimulus to support global economic recovery despite the surge of new cases in the United States. MSCI’s broadest index of Asia-Pacific shares outside ...

03.07.2020 14:00:38

Australia’s Westpac to pay $5.5 Million for 8,000 workers because of staff underpayment

Australia’s second-largest lender, Westpac Banking Corp. (WBC.AX), announced on Friday that it would pay AUD 8 Million ($5.5 Million) including interest to around 8,000 employees who have underpaid their long service leave entitlements ...

03.07.2020 13:01:18

Boeing sets the end of the 747 jumbo jets

On Thursday, Boeing Co (BA.N) announced that the company is pulling the plug on its hulking 747 jumbo jets, ending a half-century run for the twin-aisle pioneer. According to the aerospace company, the last 747 jumbo jets would roll out from ...

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