Oil steady as demand optimism offsets worries of Iranian supply
Oil was steady on Wednesday, trading in a narrow range, supported by optimism about improving U.S. fuel demand and a weak dollar, but with the prospect of a return of Iranian oil to markets putting pressure on prices.
EXCLUSIVE China bars banks from selling commodities-linked products to retail buyers -sources
China’s banking regulator has asked lenders to stop selling investment products linked to commodities futures to mom-and-pop buyers, three people with knowledge of the matter told Reuters, to curb investment losses amid volatile commodity prices.
European stocks near record high, NZ dollar rises
European stocks approached record highs on Wednesday after U.S. Federal Reserve officials soothed investors’ inflation worries, though the New Zealand dollar rose as the country’s central bank hinted at a rate hike next year.
Buy now, pay later players tackle credit conundrum in Mideast’s Gulf
Financial technology start-ups in Saudi Arabia and the United Arab Emirates offering online short-term credit say they are enjoying exponential growth as the coronavirus pandemic drives a shift in consumer spending online.
Bitcoin reclaims $40,000 as crypto volatility lingers
Bitcoin climbed back above $40,000 on Wednesday for the first time this week, as recent volatility in the cryptocurrency market showed few signs of dampening down.
M&S’s annual profit slumps 88% as COVID crushes clothing sales
British retailer Marks & Spencer (MKS.L) on Wednesday reported an 88% slump in full-year profit, reflecting a collapse in clothing sales due to the COVID-19 pandemic, and warned investors not to expect a dividend in the current year.
GameStop jumps more than 16% as ‘meme’ stocks roar higher
Shares of GameStop (GME.N) soared 16.3% on Tuesday after hitting their highest level since late March, and other so-called “meme” stocks also rallied as investors shifted back into the retail favorites that had notched big gains earlier in the year.
Exclusive: BlackRock backs 3 director nominees challenging Exxon board -sources
BlackRock, Exxon Mobil Corp’s (XOM.N) second largest shareholder, is backing several of upstart hedge fund Engine No. 1’s candidates to join the company’s board, in a blow to the energy giant, according to people familiar with the matter.
Why have bankruptcies fallen during the pandemic?
By Paul Vandenberg Government assistance programs, and relaxed insolvency procedures, have helped keep businesses afloat during the pandemic. The number of bankruptcies fell in 2020 in many countries. At first glance, this is a strange occurrence as 2020 was the year of the COVID-19 outbreak that caused lockdowns, a sharp decline in business activity, and negative economic […]
Asian shares up, dollar wallows as Fed soothes inflation fears
Asian shares rose on Wednesday while the U.S. dollar stood near its lowest levels this year after U.S. Federal Reserve officials reaffirmed a dovish monetary policy stance, providing yet more assurance to investors worried about the inflation outlook.
