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The Financial Express

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StandChart 2020 pretax profit falls 57pc, misses estimates

StandChart 2020 pretax profit falls 57pc, misses estimates

Reuters 2021-02-25 11:45:47

Standard Chartered on Thursday restored its dividend and reaffirmed its long-term profit goals, in a show of confidence about its ability to recover from the impact of the Covid-19 pandemic even...

Bitcoin's steep drop drags billions off Tesla value, Musk wealth

Bitcoin's steep drop drags billions off Tesla value, Musk wealth

-- 2021-02-24 11:21:46

Bitcoin, shares of Tesla, and a high-flying exchange traded fund (ETF) fell on Tuesday, retreating from recent rallies in a volatile session that gave investors a gut check. It was the latest sign of...

Online platforms targetted by EU

Online platforms targetted by EU

-- 2021-02-24 10:25:36

Online platforms like Robinhood in the United States that offer commission-free share trading to retail investors would be illegal in the European Union, officials from the bloc said on Tuesday. Onli...

EU to call on G20 not to withdraw Covid-19 stimulus too early

EU to call on G20 not to withdraw Covid-19 stimulus too early

-- 2021-02-23 11:16:59

The European Union will call on financial leaders of the world’s 20 biggest economies this week to keep pumping money into the global economy as long as is needed for it to recover from the Covi...

Myanmar anti-coup protests shut businesses

Myanmar anti-coup protests shut businesses

-- 2021-02-22 11:28:15

Businesses shut in Myanmar on Monday in a general strike called to oppose the military coup and thousands of protesters gathered despite a threat from authorities that confrontation could cost lives....

World Bank, IMF to consider climate change in debt reduction talks

World Bank, IMF to consider climate change in debt reduction talks

-- 2021-02-20 16:04:38

The World Bank is working with the International Monetary Fund (IMF) on ways to factor climate change into the negotiations about reducing the debt burdens of some poor countries, World Bank President...

Nasdaq falls as big tech slides

Nasdaq falls as big tech slides

-- 2021-02-18 10:50:42

The Nasdaq closed lower while the S&P 500 was little changed on Wednesday as investors rotated out of technology shares and concerns about inflation added some pressure on stocks. The Dow Jones I...

Elon Musk's SpaceX raises $850 million in fresh funding

Elon Musk's SpaceX raises $850 million in fresh funding

Reuters 2021-02-17 13:57:15

Tesla boss Elon Musk’s SpaceX completed an equity funding round of $850 million that sent its valuation to about $74 billion last week, according to a CNBC report run by Reuters on Tuesday. Spa...

Asia's surging shares keep global bull run on track

Asia's surging shares keep global bull run on track

REUTERS 2021-02-16 14:05:07

Asian shares rallied on Tuesday, setting the stage for world equities to extend their bull run for a 12th consecutive session, as investors banked on a rollout of coronavirus vaccines to keep the glob...

Global shares rise, oil up on Middle East tensions

Global shares rise, oil up on Middle East tensions

-- 2021-02-16 10:25:12

Global shares rose for the 11th day in a row to reach a fresh peak on optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to...

Japan’s economy expands more than expected as exports, capex shake off pandemic hit

Japan’s economy expands more than expected as exports, capex shake off pandemic hit

-- 2021-02-15 12:21:58

Japan’s economy expanded more than expected in the fourth quarter, extending the recovery from its worst postwar recession thanks to a rebound in overseas demand that boosted exports and capital...

US 'back at the table' to help global economic recovery

US 'back at the table' to help global economic recovery

-- 2021-02-13 10:49:33

US President Joe Biden’s administration told allies on Friday it was re-engaging with them to help steer the global economy out of its worst slump since the Great Depression, a contrast with the...

Record $58.1b pours into global equity funds: BofA

Record $58.1b pours into global equity funds: BofA

Reuters 2021-02-12 20:19:32

A record $58.1 billion poured into global equity funds over the past week as investors pulled money out of cash funds and had a lighter exposure to bonds, BofA’s weekly fund flow data showed on...

UK economy slumps by record 10pc in 2020

UK economy slumps by record 10pc in 2020

-- 2021-02-12 18:20:04

Britain's coronavirus-ravaged economy suffered its biggest crash in output in more than 300 years in 2020 when it slumped by 9.9 per cent, but it avoided heading back towards recession at the end of t...

IMF's own currency likely to get G7 backing

IMF's own currency likely to get G7 backing

Reuters 2021-02-12 09:54:02

Group of Seven finance ministers are likely to back a new allocation of the International Monetary Fund’s own currency, or special drawing rights, at an online meeting on Friday to help low-inco...

COVID, climate, tax feature at first post-Trump G7 talks

COVID, climate, tax feature at first post-Trump G7 talks

Reuters 2021-02-10 23:17:49

The new administration of US President Joe Biden joins international talks on the global economy this week with other rich nations expecting a decisive break from the "America First" nationalism of...

Pandemic job pain fell unevenly on minorities, the poor

Pandemic job pain fell unevenly on minorities, the poor

-- 2021-02-10 10:08:44

Black workers, women and others in low-paying jobs were more likely to become unemployed during the pandemic, faced greater health risks if they did keep working and are being pushed out of the labour...

Emerging market central bank rate cuts fade further

Emerging market central bank rate cuts fade further

Reuters 2021-02-09 10:02:04

Emerging market central banks delivered just one interest rate cut in December, signalling the fading out of an easing cycle that had started in 2019 and had exceeded the cuts during the 2008 financia...

Bitcoin surges after Tesla move

Bitcoin surges after Tesla move

-- 2021-02-09 09:51:17

Major US stock indexes registered all-time closing highs on Monday amid optimism over US fiscal stimulus, and bitcoin jumped after Tesla revealed it had purchased $1.5 billion of the cryptocurrency an...

China's garment industry sees lower revenues in 2020

China's garment industry sees lower revenues in 2020

-- 2021-02-06 14:46:47

China's garment industry registered lower profits and revenue in 2020, data from the Ministry of Industry and Information Technology has shown. Profits of the country's major garment enterprises came...

Nigerian woman set to become WTO’s first female leader

Nigerian woman set to become WTO’s first female leader

-- 2021-02-06 13:49:40

Nigeria’s Ngozi Okonjo-Iweala was poised to become the first African and first woman to lead the embattled World Trade Organization (WTO) after a South Korean rival withdrew on Friday and the Un...

GameStop shares rise after Robinhood lifts trading curbs

GameStop shares rise after Robinhood lifts trading curbs

-- 2021-02-06 12:38:55

Shares of GameStop and other companies caught in the recent social media-fueled trading frenzy bounced on Friday, after online broker Robinhood lifted all the buying curbs imposed at the apex of the b...

Investment decline in productive assets spells trouble for poorer nations

Investment decline in productive assets spells trouble for poorer nations

UNB 2021-02-05 22:56:53

Although developing countries attracted a record share of global foreign direct investment (FDI) in 2020, finance for infrastructure and productive sectors fell significantly, weakening their COVID-19...

India says restructuring export basket a must for growth similar to Bangladesh

India says restructuring export basket a must for growth similar to Bangladesh

-- 2021-02-05 18:31:53

India needs to restructure its export basket on lines of Bangladesh for achieving achieve high growth in exports, says Economic Survey, an annual document of India's Ministry of Finance. It adds that...

Lufthansa raises 1.6b euros to repay German govt aid

Lufthansa raises 1.6b euros to repay German govt aid

-- 2021-02-05 14:32:41

German airline Lufthansa said it had issued a 1.6 billion euro ($1.92 billion) bond on Thursday, money that will be used to repay part of a bailout given last year by state lender KfW to help it cope...

Vaccine passports: Towards normality or problem?

Vaccine passports: Towards normality or problem?

-- 2021-02-05 13:24:57

Governments and developers around the world are exploring the potential use of “vaccine passports” as a way of reopening the economy by identifying those protected against the coronavirus....

COVID-19 vaccination delay could cost EU economy 90b euros: Study

COVID-19 vaccination delay could cost EU economy 90b euros: Study

Reuters 2021-02-03 18:45:01

The European Union faces a potential 90 billion euro ($108.19 billion) hit to its economy this year unless it catches up with the pace of COVID-19 vaccinations in other regions, a study showed on Wedn...

GameStop shares halve

GameStop shares halve

-- 2021-02-03 11:23:32

GameStop Corp shares more than halved in value on Tuesday and silver prices retreated as the Reddit-driven trading frenzy that roiled stock and commodity markets appeared to fizzle, at least for now....

Myanmar coup to dampen US trade, impact footwear companies

Myanmar coup to dampen US trade, impact footwear companies

Reuters 2021-02-02 12:08:10

The coup in Myanmar is expected to dampen the interest of US and Western companies in investing in Myanmar, and may prompt some big US companies to pull out, trade experts and analysts said on Monday....

US economy set for faster 2021 rebound

US economy set for faster 2021 rebound

REUTERS 2021-02-02 10:19:06

The US economy will grow 4.6 per cent in 2021 after contracting 3.5 per cent in 2020, the Congressional Budget Office said on Monday in a rosier forecast that could strengthen Republican resistance to...