Trump looks to right his wrongs as Beijing warns of market chaos
On Tuesday, as an attempt to curb some concerns of an escapated Sino-US trade spat, US President Donald Trump had brushed aside concerns of a full-blown economic war with China
Economy | Page 10 Of 36
Brent crude falls beow $60/barrel as Sino-US tension totters risk-appetite
On Tuesday, both US and UK crude slid more than 2 percent, while UK crude had been hovering near its seven-month lows, as trade tensions alongside geopolitical bubbles had disdained efforts of OPEC+ to cut output by 1.2 million barrels per day.
New Zealand’s Central Bank stuns market with a surprise 50-bp rate-cut
On Wednesday, the 7th of August 2019, the Reserve Bank of New Zealand (New Zealand Central Bank), shortly dubbed as RBNZ, stunned financial markets with a flabbergasting 50-basis point rate-cut on its official cash rate (OCR)
Germany expects Georgieva to become IMF head, Russia pledges support
On Monday, German Finance Ministry official said that a majority of German lawmakers including the country’s Chancellor Angela Merkel expressed sheer optimism over Bulgaria’s Kristalina Georgieva, euro zone’s candidate to lead IMF
US new orders hit three-year low, service sector moderates
On Monday, the 5th of August 2019, while US Commerce Department’s data reveals that US service sector activity witnesses a sweeping plunge
US farmers brace for ‘body blows’ as China slams door to US farm goods
On Tuesday, worsening global trade outlooks further, Chinese Commerce Ministry had issued a public statement saying that Chinese companies were ordered to stop placing new orders for US farm goods
Crude oil curbed 3% as trade war concerns rattling demand outlook
On Monday, the 5th of August 2019, both US and UK crude futures’ prices took a tumble of more than 3 percent, as global growth concerns had been trembling financial markets across the world
South Korea to spend $6.5 billion in R&D to curb reliance on Japan imports
South Korea’s government had issued a public statement on Monday saying that Seoul was sketching out a plan to invest as many as $6.48 billion (7.8 trillion won) over the next seven years to ramp up research and development
Zimbabwe hikes gasoline price 26% amid shortage, import tax increase
On Sunday, the 4th of August 2019, Zimbabwe had again hiked its gasoline price by 26 percent after a raise on fuel import tax last week, suffocating the crisis-sickened nation further
Japan, United States push towards a broad bilateral trade deal by September
Washington and Tokyo had reached an accord to work out a broad bilateral trade deal by September as an attempt to resolve potential conflict of interests over tariffs on automobile sector and beef
US says 'no free trade treaty with UK' unless digital tax proposal scrapped
Amid a chaotic debate over lurking possibilities of a no-deal Brexit, Trump Administration had asked Britain to back off of its latest proposal to tax US tech titans
Turkey Central bank will lower interest rate further, says Erdogan
Voicing a much-stringent tone to reduce the transcontinental nation’s inflation, Turkey’s President Tayyip Erdogan said on Sunday, the 4th of August 2019, that Turkey’s Central Bank would reduce interest rate further
Deadly Siberian forest fire forces Russian oil companies to halt production
Casting further shadows over the grief-sickened Russian oil industry, the third-largest crude oil producer in the world, a cascade of deadly forest fires in Siberia recently forced multiple oil companies to halt productions
Russia faces new US sanction, Kremlin says system well-insulated
On Saturday, following another round of US sanction on Russia’s financial system over poisoning a former US Spy in Britain, Finance Minister of Russia, Anton Siluanov said that, Russia’s financial system was well-shielded
German Industry raises alarms over new China tariff, says recession looming
On Friday, the 2nd of August 2019, a top official of the Federation of German Industries (BDI), raised alarming bell over US President Donald Trump’s new China tariff
Trump defends his stance on new China tariff
Despite a swath of combat of quotes underway following United States’ new China tariff on all of remaining imports worth of $300 billion, US President Donald Trump said in a tweet on Saturday that "things were going well with China"
US non-farm payroll disappoints in July, a September rate-cut in focus
An upsurge in the US labor market seems to be running out of steam during beginning of second half of the year amid economic slowdown, as US Labor Department had revealed another set of disappointing data on Friday
China vows to retaliate Trump’s 10% tariff hike on its $300bn exports
On Friday, the 2nd of August 2019, ratcheting up tensions between the trade-war-struck nations, Beijing’s new envoy to Washington, Zhang Jun told that China would implicate “necessary countermeasures”
Crude oil rebounds 3% as US drilling rig count misses estimates
On Friday, the 2nd of August 2019, both US and UK crude gained more than 3 percent after witnessing a record intra-day plunge in several years yesterday (August 1st)
US manufacturing mired in soft patch as China tariff weighs on orders
On Thursday, the 1st of August 2019, US labor department unveiled another bundle of disappointing data pointing towards a withering slowdown in the United States’ economy
US retailers fume on new China tariff, say move will hurt job, spike prices
On Thursday, the 1st of August 2019, following US President Donald Trump’s latest tweet, that came barking out of the woods without any prior signal, US retailers were bursting with angers over possibilities of a price hike
Bank of England cuts full-year growth forecast to 1.3% ahead of Brexit
On Thursday, ahead of a likely no-deal Brexit or a Canada-plus type Brexit that may spur tensions further among the EU nations and UK over the near-future, Bank of England had slashed the nation’s growth forecast for 2019
Oil jackknifed 7% lower after Trump's tariff hike on $300bn Chinese imports
On Thursday, the 1st of August 2019, both UK and US crude went through a sharp nosedive of more than 7 percent, while benchmark US crude futures’ price witnessed its worst intra-day plunge in more than four years
US labor cost moderates in second quarter, Midwest manufacturing dented
On Wednesday, the 31st of July 2019, US Labor Department had revealed a bundle of disdainful economic data suggesting a further slowdown in economic growth at the beginning of third quarter
Crude climbs on US inventory decline, trade-talk optimism
On Wednesday, the 31st of July 2019, benchmark crude oil futures’ prices soared and scored fifth straight sessions of gains after reveal of a larger-than-anticipated US inventory decline
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