Company news

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

Australia likely to dismiss negative rates, extra QE as economy resumes

Australia’s economic contraction may come milder than previously thought, completely disregarding the possibility of negative interest rates or quantitative easing measures, the Reserve Bank of Australia said on Thursday. Though the country ...
28.05.2020

Oil falls on unexpected build-up in U.S. stocks, dampens recovery hopes

Oil prices fell for the second day on Thursday as U.S. industry data reported a rise in crude inventories. This dampened hopes of a faster recovery in demand as countries worldwide emerge from lockdowns. The successive declines came after the ...
28.05.2020

Dollar firms as U.S.-China tensions rise

The dollar firmed on Thursday as the U.S.-China tensions continue to grow, building pressure on the yuan and dampening optimism about economic recovery. The growing tensions between the U.S. and China affected both the Australian and New Zealand ...
28.05.2020

Dollar gains amid mounting U.S.-China tensions

The U.S. Dollar rose earlier on Wednesday in Asia as tensions grew between the U.S. and China over Beijing’s decision to implement national security laws in Hong Kong and Macau. The U.S. Dollar Index gained 0.26% to 99.168 by 12:06 AM ...
27.05.2020

Asian stocks mixed as U.S-China tensions sour risk sentiment

Asian stocks were mixed earlier on Wednesday, weighed down by shares in the Greater China region after a second planned protest broke out in Hong Kong during the week. Hong Kong’s Legislative Council will discuss its controversial national ...
27.05.2020

IEA expects global energy investment to fall by 20% or $400 B in 2020 due to coronavirus outbreak

The International Energy Agency (IEA) stated on Wednesday that the world’s investment in the energy sector is projected to plummet by a record-high 20% or $400 billion in 2020 due to the coronavirus pandemic. The Paris-based energy agency ...
27.05.2020

Morgan Stanley raises Brent price forecast due to tighter oil markets

On Tuesday, American multinational investment bank Morgan Stanley (MS) raised its year-end Brent price forecast to $40 per barrel due to tighter oil markets. The financial services company expects balance in worldwide oil demand and supply ...
27.05.2020
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