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NEW YORK: The dollar bounced off two-year lows and a gauge of global equity markets halted its march toward a record high on Friday, as better-than-expected U.S. jobs growth in July was tempered by the wrangles in Washington over a new stimulus bill.
TOKYO: World stock markets tumbled on Friday after U.S. President Donald Trump ratcheted up already-heightened tensions with Beijing by banning U.S. transactions with two popular Chinese apps, Tencent's WeChat and ByteDance's Tiktok.
KUALA LUMPUR: The ringgit was higher against the US dollar for the third consecutive day following renewed demand for the local note, which rose to a five-month high yesterday as global investors were chasing for yield.
NEW YORK: Gobal equity markets edged higher and bond yields eased off earlier lows on Thursday as investors awaited word on a new U.S. aid package to counter economic fallout from the coronavirus crisis.
HOW much is too much of a good thing? The euro has strengthened 5% versus the dollar this year – a fair reflection of the European Union’s better handling of the coronavirus, not least its historic decision to create a pandemic rescue fund that will involve fiscal transfers from the wealthy north of Europe to the worst-affected countries in the south.
FRANKFURT: Siemens AG’s operating profit rose in the third quarter as Europe’s largest engineering company dealt with the coronavirus crisis better than expected.
BERLIN: Germany's Lufthansa said it does not expect air travel demand to return to pre-crisis levels before 2024 as a steep drop in revenue pushed it to its worst-ever quarterly operating loss of 1.7 billion euros ($2.02 billion).
PARIS: French insurer AXA dropped its 2020 earnings target and added it would not make additional payouts to shareholders in the fourth quarter following a 40% decline in first-half net income.
NEW YORK: Oil prices rose to their highest since early March on Wednesday after U.S. crude inventories fell sharply and the dollar weakened, but mounting coronavirus infections had investors worried about the demand outlook.