Due to concerns over the apparent economic slowdown, and in spite of the supply cuts by oil cartel OPEC and US sanctions toward Venezuela, oil markets plummeted on Friday. US West Texas Intermediate (WTI) crude futures stood at $52.20 per barrel. This was 44 cents lower than the previous close, or 0.8 percent. Last session, …
Oil Prices Slump of Economic and Political Risks Read More »
Japan’s household spending increased slightly and higher bonus payments lifted wages in December, though the underlying trends in these two metrics exhibited only modest improvement and pointed to a difficult year for the economy as risk to growth increases. Recent controversies about faulty polling methods were used to compile monthly wage data have also cast …
Novartis AG prescription drug prices have been “flat to negative” over the last three years because of high costs for US patients on middlemen tasked to manage drug benefits, according to the company’s chief executive Vas Narasimhan. During an interview, the 42-year-old US doctor who has led the Swiss drugmaker since February 2018 expressed his …
The euro slipped to a new two-week low against the dollar during the early trading in Europe, with traders expecting more pessimism over the global economic outlook. German industrial output data have already set the tone, showing a drop of 0.4 percent in December instead of the 0.7 percent rise that has been predicted. Meanwhile, …
On Wednesday, Australia’s central bank, RBA, hinted at possible rate cuts. This came in the midst of mounting economic risks and was a notable deviation from its long-standing tightening plan, setting its local currency tumbling. According to Reserve Bank of Australia (RBA) Governor Philip Lowe’s first public speech this year, the strength of the labor …
US President Trump’s State of the Union Address, which tackled trade and budget concerns but otherwise did not surprise listeners, showed no drastic effects on the dollar on Wednesday. Trump delivered an outline of his concerns for the coming year in an annual speech. Included in his speech was the issue of illegal immigration as …
Dollar Firm after Trump’s Speech Showed No Surprises Read More »
The US dollar retained its recent gains versus its major peers on Tuesday, backed by a recovery in investor’s risk appetite, which gave an overnight boost to US yields. The Australian dollar gained, recouping earlier losses, after the Reserve Bank of Australia (RBA) held rates at record lows at its first meeting of the year …
Investors sent Alphabet Inc.’s shares down about 3 percent after hours on Monday after the tech company reported a markedly higher fourth-quarter spending on video content, employees, and facilities. Google’s parent company beat Wall Street’s estimates for revenue and profit. However, the higher reported spending compelled investors to question whether the money poured on Alphabet’s …
A new crypto-buying portal, Netcoins, is allowing users to buy more than 20 cryptocurrencies and altcoins using fiat directly. Netcoins, which is the Canadian company that created the app, says the recently launched service is operational 24/7 online. This helps to delivery real-time transaction without delays. The Netcoins team says its offering stands out from …
Netcoins App Enables Direct Fiat Purchase of Altcoins Read More »
The US Department of Justice has charged Huawei with theft of trade secrets, wire fraud, and obstruction of justice. A 10-count indictment accuses Huawei stole trade secrets from T-Mobile starting in 2012. Huawei also allegedly offered bonuses to employees who stole confidential information from other companies, particularly US carrier T-Mobile. Additionally, a 13-counti indictment charged …
US Charges China’s Huawei of Stealing Trade Secrets Read More »
The yen was stronger against its peers on Tuesday with investors trying to take refuge in safe-haven assets after the US Justice Department charged Chinese giant Huawei Technologies Co Ltd with fraud, ramping up the US-China trade tensions. The United States on Monday charged Huawei, its chief financial officer, and two other affiliates with bank …
Asian stocks inched up in subdued trade on Thursday after Wall Street ended higher, but political uncertainty in the United States and concerns about weakening global economic growth kept many investors on the sidelines. Financials spreadbetters expect London’s FTSE, Frankfurt’s DAX, and Paris’s CAC to slip slightly when trade session open, with investors awaiting news …
The dollar was restrained versus its peers on Thursday, limited by concerns over global growth, the US government shutdown, and a yet-unresolved US-China trade war. “Trade tensions are the most dominant factor for investor sentiment right now and will drive market flows,” said Nick Twidale, who is the chief operating officer at Rakuten Securities. Twidale …
Dollar Struggling over Trade War, Gov’t Shutdown Read More »
US President Donald Trump said in a late night Tweet on Wednesday that he would delay the State of the Union Address until the government shutdown was over as a response to House Speaker Nancy Pelosi’s move to obstruct his plans for the speech. Earlier in the day, Democratic leaders in the House of Representatives …
India Institute for Development and Research in Banking Technology (DRBT) has published a blueprint on blockchain implementation in the banking sector, according to an Indian local newspaper. IDRBT was established by the Reserve Bank of India (RBI) in 1996 with the mission to conduct research and experiments in the banking sector. The organization is reportedly …
IDRBT Issues Strategy for Blockchain Adoption in India Read More »
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