Tag Archives: Business

Britain on Tuesday launched a £1.0 billion support package for Covid-hit businesses, as staff absences from rising cases began to bite in the run-up to Christmas. Finance minister Rishi Sunak said some 200,000 firms would be eligible for one-off grants to offset losses from what is normally the busiest time …

Global stock benchmarks and oil prices fell on Friday while safe havens such as the dollar and Treasury bonds rose as investors wrestled with a hawkish turn from major central banks in the fight against inflation and rising numbers of Omicron cases. Asian shares closed near lows for the year …

Financial markets fell sharply on Tuesday after the head of drugmaker Moderna said existing COVID-19 vaccines would be less effective against the new Omicron variant, but they recovered strongly after more reassuring comments from European officials. European Medicines Agency executive director Emer Cooke told the European Parliament that existing vaccines …

The Group of Seven wealthy nations agreed on a joint set of principles to govern cross-border data use and digital trade, Britain said in what was described as a breakthrough that could liberalise hundreds of billions of pounds of trade. Trade ministers from the G7 reached an agreement at a …

Turkey’s lira sank to a new all-time low beyond 9.3 versus the dollar on Monday and analysts saw little reprieve ahead given what one called expectations of an “irrational” interest rate cut later this week. The worst performer in emerging markets this year, the Turkish currency touched a low of …

The largest cryptocurrency fell as much as 4.9 percent Thursday to $46,322. Bitcoin’s burst above the $50,000 level didn’t last long, and chart patterns signal its rally since July is at risk of fading. The largest cryptocurrency fell as much as 4.9% Thursday to $46,322, with other tokens including Ether …

Oil prices fell by 4% on Monday, extending last week’s steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand. A United Nations panel’s dire warning on climate change also added to …

Oil prices rose on Thursday, supported by tensions in the Middle East, but failed to recoup most of the previous day’s losses after a surprise build in crude stockpiles in the United States, the world’s top oil consumer. Brent crude oil futures rose by 29 cents, or 0.41%, to $70.66 …

Eurozone economic sentiment surged in June to a 21-year-high as an accelerated pace of COVID-19 vaccinations led to further reopening and an improved mood across all sectors of the economy, notably in retail and services. The European Commission’s monthly sentiment survey for the 19 countries sharing the euro on Tuesday …

China has made an appeal to the World Trade Organization (WTO) over historic duties introduced by Australia concerning three Chinese products as part of a crackdown on unfair trade practices, including dumping.

Americans are becoming more comfortable meeting friends, returning to offices, and attending large events, as per a survey. Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs. Brent crude was up 14 cents, or 0.2 percent, …

Japan’s influential trade ministry effectively colluded with Toshiba Corp’s management to influence shareholder’s votes on director nominees at last year’s annual general meeting, an independent probe has found. Discrediting the government’s efforts to improve corporate governance in Japan, the investigators’ report lays out how the Ministry of Economy, Trade, and …

The move, if approved, would make El Salvador the first country in the world to formally accept cryptocurrency as legal money. El Salvador may become the first country to make Bitcoin legal tender after President Nayib Bukele announced he would soon propose a bill that could transform the remittance-dependent economy. …

Bitcoin dipped 11.33% to $33,250 at 16:00 GMT on Sunday, losing $4,248.98 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 48% from the year’s high of $64,895.22 on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 16.59 % to $1,915.34 on …

Bank of America plans to raise its minimum wage for U.S. workers to $25 an hour by 2025, the latest among major firms promising to pay employees more after a year of pandemic risks and government subsidies that fueled conversations on whether companies pay their workers enough. Bank of America’s …

Amazon is to create more than 10,000 new permanent UK jobs this year across its corporate offices, Amazon Web Services division and its operations network. The move will take the online retail giant’s total UK workforce to more than 55,000 by the end of the year. Corporate roles will be …

Wall Street’s main indexes fell on Tuesday, led by tech-related stocks, as investors feared that rising inflation could push the Federal Reserve to tighten monetary policy faster than expected. The outperformers of 2020, Apple, Amazon.com Inc, Microsoft Corp, Google-parent Alphabet Inc, and Tesla Inc fell between 0.8% and 2.4%, weighed …

America’s biggest gasoline pipeline is unlikely to resume significant operations for several days due to a ransomware cyberattack that Washington on Monday blamed on a shadowy criminal network called DarkSide. The attack on the Colonial Pipeline between Houston and New Jersey, which provides nearly half the fuel to the U.S. …

Oil prices eased on Friday but were set for a weekly gain against the backdrop of optimism over a global economic recovery, though the COVID-19 crisis in India weighed. Brent crude futures were down 12 cents, or 0.2%, at $67.97 a barrel by 1343 GMT and U.S. West Texas Intermediate …

Japan was hit by its biggest economic slump on record in the second quarter as the coronavirus pandemic emptied shopping malls and crushed demand for cars and other exports, bolstering the case for bolder policy action to prevent a deeper recession. The third straight quarter of declines knocked the size …