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Global forex market
THE dollar advanced 1.54% to 93.35, near a two-month high as the risk sentiment dents ahead of the November US elections as well as a continued increase in Covid-19 infections.
Oil edges higher after US crude, fuel stockpiles draw down
NEW YORK: Oil prices edged higher on Wednesday, supported by U.S. government data that showed crude and fuel inventories dropped last week, though concerns about the ongoing coronavirus pandemic capped gains
World stocks slide, US$ gains
NEW YORK: Shares fell on Wednesday and the US dollar hit its strongest level in two months as data cast a pall on the economic outlook, reaffirming concerns that new restrictions to counter coronavirus infections will hurt the recovery.
Chancellor urged to help UK businesses
LONDON: Struggling businesses were just getting back on their feet after the United Kingdom’s first national lockdown sparked the country’s deepest recession in over a century.
Asian stocks fall on concerns about fresh lockdowns, banking sector
NEW YORK: Asian shares opened weaker on Tuesday on concerns about new pandemic lockdowns in Europe and after reports about financial institutions allegedly moving illicit funds hurt global banking stocks.
Traders shun risky assets as new lockdowns loom
NEW YORK: Stocks across the world hit their lowest in seven weeks and other risk assets also sold off on Monday on concerns over renewed lockdown measures in Europe and Britain, as well as the United States' inability to agree on fiscal stimulus that would support millions of unemployed.
Facebook taken down a peg
Social media operator’s move to use threat on Australia comes under fire
Parents shouldn’t wait to pass down their wealth
IN the coming decades, a Great Wealth Transfer will be upon us. Gen Xers and Millennials are expected to inherit trillions of dollars. Some estimates say as much as US$68 trillion will be passed down from Baby Boomers.
Indonesia minister calls for better policy alignment
JAKARTA: Indonesia must synchronise monetary and fiscal policies better to tackle economic pressures caused by the pandemic, although the government does not back a proposal for a monetary board to oversee the country’s central bank, a top minister told Reuters
