Economic News



Marks and Spencer to close 100 stores by 2022
Business

Marks and Spencer to close 100 stores by 2022

Within the scope restructuring of the retail structure, Marks and Spencer plans to close 100 stores before 2022. The company had been shut 21 of its stores, and has announced closure of 14 online sites. 


Today
Dollar climbs before Fed minutes
Dollar climbs before Fed minutes

The dollar inched up against a basket of major currencies on Wednesday, with traders awaiting the release of minutes from the latest Federal...

Asian stocks pull back amid new uncertainty about trade tensions
Asian stocks pull back amid new uncertainty about trade tensions

Asian stocks slumped on Wednesday with traders remained anxious after U.S. President Donald Trump eased optimism over progress made in trade...

May 22, 2018
Pound rises to one-week peak against euro after BoE rate comments
Pound rises to one-week peak against euro after BoE rate comments

The pound jumped to a one-week peak versus the single European currency on Tuesday following a top Bank of England official's comments on the...

Dollar's rally loses steam as Treasury yields slip
Dollar's rally loses steam as Treasury yields slip

The dollar failed to extend its recent rally on Tuesday as Treasury yields slumped after a broad rise in the currency boosted by easing U.S.-China...

China will bring down tariffs on imported cars, spare parts, in a bid to open markets more
China will bring down tariffs on imported cars, spare parts, in a bid to open markets more

China is going to sharply reduce import tariffs for vehicles and their spare parts, providing more beneficial conditions for entering the...

Nationwide is suffering from strong competition, mortgage lending declines
Nationwide is suffering from strong competition, mortgage lending declines

Britain’s mortgage market is experiencing severe rivalry, which pressured lending and revenue at Nationwide, suggesting that the...

Firm dollar beats Asian stocks
Firm dollar beats Asian stocks

Asian stocks slipped on Tuesday as a steady dollar undermined demand for emerging market assets while rising crude prices fueled worries about...

Ryanair CEO expects some airlines will not 'survive' the winter due to higher crude prices
Ryanair CEO expects some airlines will not 'survive' the winter due to higher crude prices

The chief of budget European carrier Ryanair predicted some of his European competitors to file for bankruptcy in the near future. 

Blackstone to buy LaSalle Hotel for $4.8 bln
Blackstone to buy LaSalle Hotel for $4.8 bln

LaSalle Hotel Properties decided to sell itself to private equity firm Blackstone Group LP for $3.7 billion in cash, overpassing a rival bid from...

May 21, 2018
U.S. stocks on track for two-month highs
U.S. stocks on track for two-month highs

U.S. stocks rose sharply on Monday following the U.S. and China attempts to reach a wider agreement, with sentiment also improved due to the...

Dollar index breaches 6-month peak on trade relief
Dollar index breaches 6-month peak on trade relief

The U.S. dollar extended its rally on Monday, with a key dollar index breached its top since late last year, as investors cheered trade talks...

Gold sinks to its lowest this year
Gold sinks to its lowest this year

Gold prices inched lower on Monday as the dollar surged and demand for safe-haven assets weakened amid progress in negotiations between Washington...

Pound loses half percent, approaching five-month trough
Pound loses half percent, approaching five-month trough

The pound slipped to its trough in almost five months on Monday as the dollar climbed and traders awaited crucial economic figures that could...

European stocks climb toward almost four-month peak
European stocks climb toward almost four-month peak

European stocks gained on Monday as easing trade war concerns pushed the dollar, underpinning exporters, while investors focused on coalition...

EU companies register much less in the UK
EU companies register much less in the UK

Pro-Brexit vote has caused a tumble in the number of companies from France, the Netherlands, and Belgium registering in Britain, which emphasizes...

Home prices in London slump, though overall UK’s figure at the highest
Home prices in London slump, though overall UK’s figure at the highest

London and UK’s south-east have continued to register falling of home prices, even though the country’s overall figure jumped to the...

UK stocks surge amid progress in U.S.-China trade talks
UK stocks surge amid progress in U.S.-China trade talks

UK stocks advanced on Monday, on course for a record closing peak, as investors digested China-U.S. agreement on further relationship between the...

Crude prices climb on easing trade tensions between China and U.S.
Crude prices climb on easing trade tensions between China and U.S.

Oil prices gained on Monday as investors assessed news that U.S. has pulled back from launching a trade war with China, pointing at easing...

Dollar touches four-month peak vs. yen as U.S.-China trade war concerns ease
Dollar touches four-month peak vs. yen as U.S.-China trade war concerns ease

The dollar gained versus the yen on Monday, after comments of U.S. Treasury Secretary Steven Mnuchin on U.S.-China trade relations triggered risk...

May 18, 2018
British pound moves down on EU customs union issue
British pound moves down on EU customs union issue

The UK currency dipped both against the U.S. dollar and the euro today, pressured by the uncertainty over whether Britain can remain in the...

EU began procedure for protecting its firms in Iran
EU began procedure for protecting its firms in Iran

The EC announced today that it had begun taking action for blocking sanctions, aimed at protecting EU companies in Iran, after the U.S. abandoned...

U.S. dollar at the strongest level against yen, propped up by U.S. Treasury yields
U.S. dollar at the strongest level against yen, propped up by U.S. Treasury yields

The U.S. dollar inched up versus the yen today, attaining its highest in four months, as growth in U.S. Treasury yields, prompting better...

Oil stays near top levels of several years
Oil stays near top levels of several years

Prices of oil remain strong today fueled by high demand, OPEC’s continuing efforts to curb production, and potential renewal of U.S....

William Hill drops on limiting fixed-odds betting
William Hill drops on limiting fixed-odds betting

William Hill’s share prices slumped, dragged down by the government’s decision to cut the stakes on the fixed-odds betting terminals...

May 17, 2018
European shares move higher after the rebound in Italian stocks
European shares move higher after the rebound in Italian stocks

Europe’s shares rose during the start of today’s trading, considering the rebound in Italian stocks and robust advance of sectors...

UK’s new rules will allow only up to £2 stakes on betting terminals
UK’s new rules will allow only up to £2 stakes on betting terminals

UK’s government presented future rules saying that the highest stake on fixed-odds betting terminals is going to be decreased to £2....

Oil prices at their highest since late 2014, Brent nears $80
Oil prices at their highest since late 2014, Brent nears $80

Oil peaked reaching top levels since November of 2014 yesterday, while Brent edges towards $80 for a barrel at the time when supply contracts and...

Euro is down as political uncertainty in Italy emerges and U.S. bond yields grow
Euro is down as political uncertainty in Italy emerges and U.S. bond yields grow

The euro remained close to the lowest levels of five months today as the statements by the Italy’s populist parties, together with a recent...

Japan's economy slowed more than predicted in first quarter
Japan's economy slowed more than predicted in first quarter

Japan's GDP contracted in the first three months of 2018 for the first time in two years, breaking the two-year expansion. 

May 16, 2018
Pound recedes to near lowest of this year due to Brexit issue
Pound recedes to near lowest of this year due to Brexit issue

British pound slid today to near its worst of 2018 versus the dollar in view of renewed concerns over Brexit talks and comparatively slow wage...

Europe’s shares are lifted by oil stocks
Europe’s shares are lifted by oil stocks

Europe’s shares added a little yesterday as a result of oil stocks soaring to the highs unseen since September 2014, compensating for a fall...

Oil prices slide on excessive supply
Oil prices slide on excessive supply

Oil waned today, dragged by abundant supply, even though OPEC member-states continue to limit production and the high probability of renewed U.S....

U.S. dollar climbs to the top level since late December
U.S. dollar climbs to the top level since late December

The dollar index against a basket of 6 main currencies kept at 93.270 following preceding growth to 93.457, the top mark since December 22. This...

Germany's economy cools sharply as global tensions hit
Germany's economy cools sharply as global tensions hit

German annualized growth rate slowed in the first quarter of the year by 0.3 percent,  its weakest pace since the third quarter of 2016,...

May 15, 2018
China’s manufacturers of bitcoin mining devices look to raise $1 billion from Hong Kong listings
China’s manufacturers of bitcoin mining devices look to raise $1 billion from Hong Kong listings

China’s two producers of bitcoin mining hardware aim to attract $1 bln each from Hong Kong listings in 2018, on solid global enthusiasm in...

China’s April data below forecasts, signaling of economy slowdown
China’s April data below forecasts, signaling of economy slowdown

April’s figures on investment and retail sales in China lower than forecasted, home sales also contracted, the data might pull back economic...

U.S. dollar moves up, propped up by gaining U.S. bond yields
U.S. dollar moves up, propped up by gaining U.S. bond yields

The U.S. dollar slightly grew versus a basket of major currencies today, after its minimum of over a week, in view of expectations for...

May 14, 2018
Centrica has seen higher demand for energy during the Beast from the east colds
Centrica has seen higher demand for energy during the Beast from the east colds

Centrica that owns British Gas has reported its profits go to plan, as the Beast from the east that brought colds to the country caused rise in...

Uber appoints Amazon executive for key European position
Uber appoints Amazon executive for key European position

Uber has hired former Amazon responsible for electronics retail business Jamie Heywood as new regional general manager for northern and eastern...

Euro surges as dollar retreats further from a 2018 high
Euro surges as dollar retreats further from a 2018 high

The euro was on track for a third consecutive session of gains on Monday as a broadly weak dollar helped the common currency rebound, as traders...

Pound inches higher amid weaker dollar
Pound inches higher amid weaker dollar

The pound gained on Monday as the greenback slid versus major currencies and traders awaited economic figures that could underpin the currency...

UK stores are visited less than in the mid of crisis
UK stores are visited less than in the mid of crisis

UK customers visited stores less than ever in the past two months, the level is even lower than during the peak of the financial crisis, according...

European stocks struggle amid M&A activity
European stocks struggle amid M&A activity

European stocks slipped in early trading on Monday after an impressive run of weekly gains, while the latest business developments fueled trading...

Xerox backs out of its $6.1bn merger deal with Fujifilm
Xerox backs out of its $6.1bn merger deal with Fujifilm

U.S.-based technology firm Xerox dropped its multibillion-dollar deal with Fujifilm Holdings Cor to create Asia joint venture Fuji Xerox and...

Oil drops from multi-year peaks on rise in U.S. drilling, tight market
Oil drops from multi-year peaks on rise in U.S. drilling, tight market

Crude prices on Monday slid from last week’s multi-year top as a continuing growth in U.S. drilling activity pointed to rising output, while...

Dollar under pressure from sagging Treasury yields
Dollar under pressure from sagging Treasury yields

The dollar’s recent rally lost its momentum on Monday with U.S. yields sliding as traders understood that the U.S. Federal Reserve is not...

Asian stocks extend biggest weekly gain since February
Asian stocks extend biggest weekly gain since February

Asian stocks jumped to almost two-month peak on Monday on signs of easing tensions in U.S.-China trade relations, after U.S. President Donald...

May 11, 2018
South Korea’s number one virtual currency exchange is suspected of fraud
South Korea’s number one virtual currency exchange is suspected of fraud

Prosecutors in South Korea conducted a search in the office of Upbit, the largest virtual currency exchange, yesterday and today suspecting fraud,...

U.S. import prices fall short of forecasts in April
U.S. import prices fall short of forecasts in April

April’s growth of import prices in the United States was lower than predicted taking into account that fallen food prices curbed a hike in...

Apple announced of a new greener technology for aluminum production
Apple announced of a new greener technology for aluminum production

Apple and two metal manufacturers – Alcoa and Rio Tinto, have launched a joint venture with the purpose of smelting aluminum in a new way,...

Silver Lake to buy property portal ZPG for $3 Billion
Silver Lake to buy property portal ZPG for $3 Billion

U.S.-based Silver Lake has reached an agreement on the acquisition of the British ZPG for 2.2 billion pounds, which owns the largest property...

Pound on track for fourth straight weekly loss
Pound on track for fourth straight weekly loss

The pound on Friday was on course for its fourth consecutive weekly loss against the dollar after the Bank of England leaved rates steady and...

European stocks set for seventh straight weekly win
European stocks set for seventh straight weekly win

European shares were on course to post their seventh consecutive weekly gain on Friday boosted by deal activity and rise in mining sector. 

Apple and Goldman Sachs to launch a joint credit card
Apple and Goldman Sachs to launch a joint credit card

Apple and Goldman Sachs are preparing to release a new credit card that would bear the Apple Pay brand in 2019, the Wall Street Journal reported....

Oil slides from recent peaks, Iran’s exports in focus
Oil slides from recent peaks, Iran’s exports in focus

Crude prices fell on Friday, sliding from multi-year peaks touched on Thursday on hopes that alternative supplies could substitute a looming slump...

Dollar drops most since March on weaker U.S. inflation
Dollar drops most since March on weaker U.S. inflation

The dollar wobbled below a 4-1/2-month peak versus a basket of main currencies on Friday after cool U.S. inflation figures prompted investors to...

Asian shares near three-week high, extending rebound
Asian shares near three-week high, extending rebound

Asian stocks jumped on Friday as market sentiment got a boost from sluggish U.S. inflation, helping ease concerns of faster rate increases by the...

May 10, 2018
U.S. stocks inch higher on soft consumer inflation
U.S. stocks inch higher on soft consumer inflation

U.S. stocks edged up in morning deals on Thursday as a softer than anticipated increase in U.S. consumer prices in April limited inflation worries.

BoE reduces growth prospects and leaves rates unchanged
BoE reduces growth prospects and leaves rates unchanged

UK’s interest rates are left at the previous level of 0.5% by the Bank of England, it has also reduced projected growth for the current...

Pound drops as Bank of England holds rates steady
Pound drops as Bank of England holds rates steady

Sterling slumped on Thursday to reach four-month trough versus the dollar after the Bank of England leaved rates unchanged as widely expected but...


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