Finance

Dollar heals as reflation trade turns positive

Editorial Bureau April 29, 2021

LONDON (UK) – The dollar traded after nine-week lows on Thursday as a change in the outlook from the US Federal Reserve and revived spending plans from the White House affirmed a global reflation trade. President Joe Biden’s push for another $1.8 trillion in spending also risked

Finance

Demand of Eli Lilly’s COVID-19 drugs decrease, company misses profit forecast

Editorial Bureau April 27, 2021

Eli Lilly and Co on Tuesday missed expectations for first-quarter profit and cut the top end of its full-year earnings forecast as demand waned for its COVID-19 antibody therapies with the US vaccine rollout in full swing. Nearly 30% of the U.S. population has been vaccinated against COVID-19, hitting demand for antibody drugs that already […]

Finance

BOJ cuts price outlook as new COVID curb hits

Editorial Bureau April 27, 2021

TOKYO (JAPAN): As fresh curbs to combat a spike in COVID-19 cases overshadow the boost to growth from solid global demand, Japan’s central bank maintained its massive stimulus on Tuesday and projected inflation missing its 2% target for years to come, . The Bank of Japan also warned of “high uncertainty” on how much the […]

Finance

GE reports $ 845 million cash outflow, smaller than estimated

Editorial Bureau April 27, 2021

Even as its lucrative jet engine business struggled with the pandemic-led collapse of air travel, driving down company revenue, General Electric saw far smaller cash outflow than estimated in the first quarter. The company also reaffirmed its full-year free cash flow and earnings per share outlook. The US industrial conglomerate reported a cash outflow of […]

Finance

Global economic recovery expected, stocks dip on caution

Editorial Bureau April 27, 2021

MILAN (ITALY): As optimism about a global economic recovery dipped out of caution before the upcoming policy decision by the Federal Reserve and earnings updates from a number of blue-chip companies, shares slipped from record peaks . The MSCI world equity index, which tracks shares in 49 countries, fell 0.1% by 1040 GMT, following a […]

Finance

HSBC releases money set aside for pandemic-induced bad loans

Editorial Bureau April 27, 2021

LONDON (UK) – HSBC Holdings PLC has released $400 million it had set aside to cover pandemic-induced bad loans after it reported better-than-expected quarterly profit. the bank says believes that as successful vaccine rollouts in key markets promised a brighter economic outlook. HSBC cautioned, however, that uncertainty about a global recovery meant it was unlikely

Finance

Overcoming five days of loss, Bitcoin jumps 8%

Editorial Bureau April 26, 2021

LONDON (UK) – Bitcoin jumped as much as 8% on Monday and was on course to snap five straight days of losses, though the cryptocurrency has slumped almost a fifth from its all-time high hit earlier this month. Bitcoin was last up 6.7% at $52,452 after touching its lowest since early March on Sunday. Other […]

Finance

Turkey planning broader crypto regulations, cenbank head says

Editorial Bureau April 24, 2021

ANKARA (TURKEY) – Turkey’s Finance Ministry is working on wider regulations regarding cryptocurrencies, as per Central Bank Governor Sahap Kavcioglu on Friday. It added that the bank does not intend to ban them. In an interview with Turkish broadcasters, Kavcioglu said some details would be ready in two weeks. The central bank last week banned […]

Finance

Turkey seeks arrest of Thodex founder, dozens detained in cryptocurrency probe

Editorial Bureau April 23, 2021

ISTANBUL (TURKEY) -Turkey detained dozens of people in an investigation of a cryptocurrency trading platform and sought its founder’s arrest in Albania, police said on Friday, after Turks filed criminal complaints saying they had been scammed. The Thodex platform, which had been handling daily cryptocurrency trade worth hundreds of millions of dollars, said on its

Finance

Dollar value tumbles, cryptocurrency low by more than 10%

Editorial Bureau April 23, 2021

The dollar was hemmed into a narrow trading range near multi-week lows against its major peers on Friday, as traders contemplate the next moves by major central banks ahead of a US Federal Reserve meeting next week. Cryptocurrency ether tumbled more than 10% and bigger rival bitcoin slid 5% amid speculation that US President Joe […]