Category: News

Asian stocks climbed and the yen retreated after President Donald Trump said that the U.S.-China trade deal is intact, easing doubts sparked by reported comments from a senior adviser. Futures on the S&P 500 had opened higher Tuesday, then tumbled over 1% for a time after Trump aide Peter Navarro was quoted saying the trade...

Chinese banks have offered relief on 3.9 trillion yuan ($551 billion) of loans since the outbreak of the coronavirus pandemic to help struggling small businesses and bolster an economy facing its worst slump in four decades. Lenders have postponed taking principal repayments on 1.44 trillion yuan in loans to almost 800,000 small businesses and pushed...

The current generation of students is at risk of losing $10 trillion in earnings over time due to pandemic-related school closures, the World Bank said. The estimate is based on a five-month school closure, the World Bank said in a report published on Thursday. The virus left 1.6 billion students out of school at the peak of...

Stocks edged lower with U.S. equity futures on Thursday as investors sought fresh catalysts for gains amid a rising numbers of coronavirus infections in some countries. Treasuries advanced. The Stoxx Europe 600 opened in the red, with travel shares and miners leading declines. Contracts on the main U.S. equity benchmarks came off their lows earlier...

Australian unemployment surged in May and the economy shed almost three times as many jobs as forecast amid restrictions to stem the spread of the pandemic. The currency tumbled. The jobless rate climbed to 7.1% from a revised 6.4% in April, data from the Australian Bureau of Statistics showed in Sydney Thursday. Employment plunged by 227,700 in...

There’s one country whose economy looks set to fare better than others when it comes to the fallout of Covid-19: Sweden. In a report on Monday, Capital Economics presented data that give Sweden an irrefutable edge. From peak to trough, Swedish GDP will shrink 8%; in the U.K. and Italy, the contraction is somewhere between...

SYDNEY, June 15 (Reuters) – Australia’s government will run record budget deficits this year and next as it spends big on stimulus and infrastructure to cushion the economy from the coronavirus, Prime Minister Scott Morrison said on Monday, warning of tough times ahead. Announcing another A$1.5 billion ($1.02 billion) on infrastructure and fast-track approval for...

In the U.S. Thursday, airlines, cruise and travel shares that had soared in recent weeks bore the brunt of the selling. The KBW Bank Index of financial heavyweights slid 9%, and energy producers joined a rout in oil. While much of the equity selling owed to the frantic pace of the recent rally, sentiment did...

Automakers in the U.K. sold just over 20,000 cars in May with dealerships shuttered for a second month. New-car registrations plunged almost 90% from a year earlier, according to preliminary figures from the Society of Motor Manufacturers and Traders. Final sales data will be released later Thursday. Britain’s car industry is sputtering back to life...

The global stock rally powered by investor optimism for a speedy economic recovery from the pandemic showed signs of pausing on Thursday as rallies fizzled in Asia. The dollar recouped some of the losses that pushed it to the weakest since early March. Shares in South Korea and Australia remained higher, equities in Japan pared...