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TikTok plans to exit the Hong Kong market within days amid concerns over the imposition of China’s national security laws in the region. The news follows India banning the popular app citing national security concerns and the US also contemplating a ban in the coming months. “In light of recent events, we’ve decided to stop…
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Brent crude futures skyrocketed more than 80% in the second quarter as oil prices registered their best quarterly performance in 30 years. In the three months through to the end of June, crude oil prices bounced back and registered robust growth after falling to record lows in April. Global benchmark Brent oil futures for September…
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The US dollar index (DXY) have been trading steadily over the last few days, after climbing to 97.41 on 25 June, due to safety buying as fears grew over a rapid rise in coronavirus infections across some US states. The American currency, which is considered a safe harbor during times of economic turbulence, had been…
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As gold prices remain on an upward trend, Bank of America says the rise in gold prices is set to test the 2012 highs of $1,790-1,805/oz in the next week. Gold’s recent rice comes after months of escalating political and economic instability due to the resurgence of coronavirus cases, particularly in the US as well…
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Airline trade body the International Air Transport Association (IATA) expects a recovery in the second half of 2020, despite the devastation coronavirus lockdowns have brought air travel. The pandemic has hit airlines hard and in April, air travel fell 98% year-over-year as countries put restrictions on air travel in a bid to contain the spread…
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The Pentagon has unveiled a list of Chinese firms it says are owned or controlled by the communist Republic’s military, exposing fresh tensions between the world’s two largest economies. The 20-strong list includes telecoms giant Huawei, video surveillance firm Hikvision, China Railway Construction, and China General Nuclear Power. China Telecom and China Mobile, two telecoms…
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Blackstone Group’s Steve Schwarzman (pictured) sees a V-shaped economic recovery from the coronavirus pandemic. The global economy tanked in April and May due to the shutdowns due to the pandemic. Now, as economies have reopened and many business activities have resumed, there has been a revival in the global economy. Schwarzman, cofounded Blackstone, the world’s…
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JP Morgan Chase & Co advised investors to pick stock more carefully in the second half of the year, as the performance of different industries and sectors is likely to diverge. Investment strategists from the US bank said in a note to clients that there has been an increased correlation between different financial assets, following…
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The earnings calendar remains light for next week, allowing investors to closely monitor shoe giant Nike’s earnings that will be announced on Thursday afternoon, amid rising a rising stock price and store reopenings. Nike’s business in China is critical to the manufacturer’s performance as its e-commerce business managed to offset some of the company’s performance…
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Bluebird and Pont de la Tour are among the London restaurants that announced plans to reopen on 4 July after coronanvirus lockdown restrictions are lifted. After pubs and brick-and-mortar retailers started reopening venues, London restaurants are next in line to finalize plans to reopen. D&D London, which owns some of the most famous London restaurants,…
