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Australian economy likely to contract due to pandemic, dim outlook looms

Australia’s economy is likely to have contracted in the first quarter as the novel coronavirus crisis drags the land down under to its first recession in three decades. Fifteen economic analysts foresee that the A$ 2 trillion economy ...
01.06.2020

Oil falls as wary traders eye OPEC+ meeting

Oil prices fell on Monday as OPEC and its allies proposed a meeting to assess the need for additional record output cuts beyond June. Brent crude dropped 0.4%, or 15 cents, at $37.69 per barrel. West Texas Intermediate crude futures for the ...
01.06.2020

Aussie rises as investors focus on economic recovery

Risk currencies gained against the dollar on Monday as investors staked on signs of easing U.S.-China tensions and worldwide economic recoveries. The Australian dollar rose 1% to a three-month high of $0.6742. The dollar index neared an 11-week ...
01.06.2020

Japan’s manufacturing sector suffers from virus-beaten demand: PMI

May had seen Japan’s manufacturing sector dropping at its most rapid pace since March 2009, a private sector poll showed on Monday. The sector's inactivity was due to a slump in demand brought by the novel coronavirus crisis. Japan Manufacturing ...
01.06.2020

UK factories see sharp decline for May, but less than in April

British factory activity saw a sharp decline for the month of May, according to a survey conducted on Monday. However, the pace of the decline was much slower than that of April, when the COIVD-19 lockdown brought most of the economy to a near ...
01.06.2020

European shares gain on hopes of global COVID-19 recovery

European shares rose on Monday on the back of a global recovery from the COVID-19 outbreak. In addition, investors were relieved after the U.S.’ response to China’s security laws were not as severe as many had predicted. U.S. President ...
01.06.2020

United Airlines to cut 13 high-level executives, adding international flights in July

United Airlines Holdings Inc (UAL.O) announced on Friday that it would terminate 13 out of its 67 officers to save funds as the coronavirus pandemic continues to keep a lid on travel demand. The airline company said that it would add international ...
01.06.2020

ViacomCBS will cut 400 jobs amid the coronavirus outbreak  

ViacomCBS Inc. (VIACA.O) announced on Thursday that it would slash 400 employees across CBS as the broadcasting giant plans to save $750 Million from its merger with CBS last year. The mass media company continues to search for cost savings ...
29.05.2020

Costco's revenue falls amid coronavirus pandemic

On Thursday, American multinational warehouse club operator Costco Wholesale Corp. (COST.O) reported a 7.5% decline in its third-quarter revenue. The retail company spent $300 Million on incremental wages and extra sanitation costs amid the ...
29.05.2020

Asian stocks fall as mounting U.S.-China tensions dampen risk sentiment

Asian stocks fell on Friday, closing at a sour note for May as escalating tensions between the U.S. and China dampened investor risk sentiment. U.S. President Donald Trump is set to reveal his response to Beijing’s national security laws ...
29.05.2020

Gold prices gain amid escalating U.S.-China tension

Gold prices rose on Friday in Asia as tensions escalated between the U.S. and China over Beijing’s national security laws. China had approved to enact the laws in Hong Kong during the National People’s Congress on Thursday. U.S. ...
29.05.2020

Indian economy at slower pace in March

India’s gross domestic product data due today is expected to reveal weak results, indicating that the economy is at its slowest pacing in at least two years in March. Dampened expectations were mainly from struggling consumer demand and ...
29.05.2020

Japan’s manufacturing, retail sectors struggle worse than expected

April records showed that Japan’s factory output dropped at a pace faster than what was initially predicted. More so, the country’s retail sales plunged the sharpest in more than two decades as the COVID-19 pandemic introduced more ...
29.05.2020

Oil prices slip on weak U.S. fuel demand

Oil prices fell on Friday after U.S. inventory data reported weak fuel demand, while the U.S.-China tensions continued to weigh on the markets. Brent crude slid 0.7%, or 25 cents, at $35.04 per barrel. U.S. West Texas Intermediate crude dropped ...
29.05.2020

Yen climbs, dollar falls ahead of Trump’s response to Beijing

The Japanese yen climbed against major currencies on Friday as investors rushed to safe havens. This came ahead of U.S. President Donald Trump’s press conference on China’s push for the security law in Hong Kong. The dollar fell ...
29.05.2020

Micron Technology's stocks jumped to 3.7%, revenue forecast raised for the third quarter

On Wednesday, American computer manufacturer Micron Technology Inc (MU.O) raised its revenue forecast to a range of $5.2 billion to $5.4 billion from $4.6 billion to $5.2 billion for the third quarter. The company's shares jumped to 3.7% in ...
28.05.2020

American Airlines will cut 30% of its workforce including management and support staff

American Airlines Group Inc. stated on Wednesday that it plans to cut 30% of its management and support staff or almost 5,000 jobs because of the coronavirus outbreak. American and other airlines are scrambling to cut costs because of the pandemic’s ...
28.05.2020

German inflation to recede in May, regional data shows

Germany is anticipating an inflation rate drop as the national preliminary inflation data is set to be released 1200 GMT. This reading surfaced after regional inflation figures showed inflation plunging in the month of May. Some German states ...
28.05.2020

U.S.-China rising conflict drives gold up

Thursday saw gold's climb in Asia in light of escalating tensions between U.S. and China, leading investors to subscribe to the yellow metal. Gold Futures went up by 0.04% at $1,711.35 by 11:55 PM ET (4:55 AM GMT). With the relationship between ...
28.05.2020

New Zealand employment rate records historic drop in April

New Zealand’s employment rate dropped to its lowest level in April. It declined by 1.7% as the impact of the novel coronavirus and the restrictions it brought on social and economic activity continue to press, the statistics agency said ...
28.05.2020
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