Financial news

03.04.2020 13:01:33

Pound to recover losses against dollar but analyst estimates slashed

The British pound will have recovered its losses against the dollar in a year. However, analyst forecasts a month ago were cut as the coronavirus continues to create chaos.  The pound declined in recent weeks as concerns about the pandemic’s ...
03.04.2020 12:01:18

Gold Prices fall as U.S. reports record unemployment claims overnight

Gold prices fell on Asian markets on Friday after the U.S. released a report of rising unemployment claims. Gold Futures fell by 0.31% at $1,632 per ounce at 9:30 PM ET (2:30 AM GMT), losing gains from the previous trading session. The United ...
03.04.2020 11:01:36

Dollar advances as virus inflicts the economy further

SINGAPORE- The dollar is currently on track towards a 2% weekly increase on Friday. This followed after oil prices recovered and as investors resorted to safe havens amid the threat of economic contraction due to coronavirus contagion. The ...
03.04.2020 11:01:36

Healthcare stocks resist bearish market

NEW YORK- Healthcare stocks ran bull as coronavirus pandemic boosted demand in the U.S. healthcare sector, home to businesses and firms necessary to combat the deadly novel coronavirus disease. Pharmaceuticals Inc gained 24% while Gilead Sciences ...
03.04.2020 11:01:36

Asian stocks mixed after losing record gains from surging oil prices

Asian stock markets remained uncertain on Friday as it lost some of its record gains from a surge in oil prices in an earlier session. Japan’s Nikkei went up by a modest 0.32% by 10:33 PM ET (3:33 AM GMT) while South Korea’s KOSPI ...
03.04.2020 11:01:35

Dollar rises as oil prices close at record gains in previous session

The U.S. dollar rose slightly in Asia on Friday after crude oil prices surged by almost 25% in a previous session. The jump in oil prices came after U.S. President Donald Trump signalled on a potential truce between Saudi Arabia and Russia ...
03.04.2020 11:01:35

Recession is here: Fed officials say as unemployment claims spike in US

Fed officials said on Thursday that “recession is here” and the economy’s recovery relies on U.S. government aid and its effectiveness in combating the impact of millions of lost jobs. The Fed added that the duration of the ...
03.04.2020 10:01:08

Oil futures decline as Trump refuses to cut oil outputs

MELBOURNE- Oil prices inched down on Friday, erasing some gains it initially acquired from its last session. Poor market activity was mainly from the output reduction deal that U.S. President Donald Trump signed with Saudi Arabia and Russia. ...
02.04.2020 14:01:00

Oil hikes after Trump says Saudi, Russia likely to resolve price war

Crude oil futures gained almost 5% on Thursday after U.S. President Donald Trump stated that he anticipated an agreement will be reached by Saudi Arabia and Russia regarding their price war. Brent crude futures climbed 4%, or $1, at $25.74. ...
02.04.2020 14:01:00

Energy stocks shore up European shares as markets scramble amid crisis

European shares gained on Thursday, caused by a bounce in energy stocks as investors pin hope on a deal between Saudi Arabia and Russia regarding their oil price war. The pan-European STOXX 600 gained 0.3%. The energy sector .SXEP hiked 4.4%, ...
02.04.2020 13:01:03

China removes restrictions on car purchases to increase sales

In select regions, China had removed limitations placed on buying cars to render sales from the sector stable. Moreover, the country is expediting plans to herd old cars into retirement, China’s Ministry of Commerce had disclosed on ...
02.04.2020 13:01:03

Disney+ will launch on OSN in UAE today

The Orbit Showtime Network has announced the launch of Walt Disney Co’s (DIS.N) Disney+ in the Middle East and North Africa. It will be accessible on pay television and streaming service provider starting on Thursday. OSN has revamped ...
02.04.2020 12:01:17

SoftBank cancels $3 billion deal for additional WeWork Shares

Japan’s SoftBank Group Corp pulled out of a deal to buy an additional $3 billion worth of shares from the shared workspace provider WeWork, according to a statement from the U.S.-based company’s special committee of the board on ...
02.04.2020 12:01:17

Gold prices gain amid prolonged economic uncertainty

Gold prices rose in Asian markets on Thursday as investors prepared for prolonged economic turbulence caused by the coronavirus pandemic. Gold Futures gained by 0.41% at $1,598 per ounce at $1,598 by 10:21 PM ET (3:21 AM GT), taking back lost ...
02.04.2020 12:01:17

Asian stocks fall as economy turbulence pile on market fears

Asian stock market underperformed on Thursday as piling economic turbulence led by the coronavirus pandemic continued to batter economies and governments around the world. Australia’s ASX 200 fell by 2.29% while Japan’s Nikkei ...
02.04.2020 12:01:16

U.S. Treasury hires Wall Street bankers, lawyers for aid advice

The U.S. Treasury Department hired lawyers and Wall Street bankers to serve as consultants regarding billions of dollars’ worth of aid to the defense, cargo, and airline sectors, sources said. The aid advice followed the approval of ...
01.04.2020 14:01:13

Oil prices drop as U.S. inventory build-up, OPEC rift stresses market

Global crude oil prices fell on Wednesday, following their biggest successive quarterly and monthly losses, due to a largely expected rise in U.S. supply and a heightened conflict within OPEC. Oil prices have dropped close to their lowest ...
01.04.2020 13:01:31

Apple donates 10 Million masks to China amid virus outbreak

SHANGHAI – Apple has sourced and procured 10 Million masks to donate them to the medical community of China amid the coronavirus outbreak. CEO Tim Cook said that Apple resumed its operations and reopened its 42 stores in China. The Apple ...
01.04.2020 13:01:31

Gold prices slip as Russia suspends bullion purchase

Gold prices slip as Russia suspends bullion purchase Gold prices fell on Wednesday morning, stretching out losses from Tuesday as speculations grew of Russia planning on moving from a major bullion purchaser to a seller. Gold Futures had slid ...
01.04.2020 13:01:31

Japan's factory activity shrinks at fastest pace as domestic and overseas demand slump

Japan’s factory activity contracted at a record pace since March 2009 amid a virus-hit economy that led to a sharp decline of domestic and overseas demand. Its Manufacturing Purchasing Managers’ Index (PMI) fell from a final 47.8 ...
01.04.2020 13:01:30

Macy’s loses spot in S&P; Carrier Global takes over

Macy’s M.N, an American department store chain, dropped its spot from the S&P 500 Index standard. Macy’s shares dropped 80% in the last 12 months of their operation which results in a lowered market value of $1.52 billion as ...
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