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The Financial Express

Search results for: global

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...

Argentina seeks $44b IMF deal to repay debt

Argentina seeks $44b IMF deal to repay debt

Reuters 2021-01-31 10:58:25

Argentina’s Economy Minister Martin Guzman is pushing for a deal by May with the International Monetary Fund to repay $44 billion in debt, the Wall Street Journal reported on Saturday, citing hi...

Robinhood raises $1.0b of fresh funding from investors

Robinhood raises $1.0b of fresh funding from investors

Reuters 2021-01-30 12:47:33

Online broker Robinhood has raised more than $1 billion of fresh capital from existing investors, having been strained by high volumes of trading this week and raising the ire of customers, celebritie...

Washington ready to engage on WTO reform

Washington ready to engage on WTO reform

Reuters 2021-01-30 11:41:49

The United States is committed to “positive, constructive and active engagement” with all members of the World Trade Organization on reforming the body and is actively considering who to c...

Customers sue Robinhood Financial

Customers sue Robinhood Financial

Reuters 2021-01-29 12:45:33

Two customers sued Robinhood Financial on Thursday over the online brokerage’s trading ban in GameStop and other high-flying stocks caught up in a retail buying frenzy that forced some prominent...

Sustainable fund assets hit record $1.7tn in 2020

Sustainable fund assets hit record $1.7tn in 2020

-- 2021-01-29 12:24:20

Demand to invest in funds which focus on environmental, social and governance (ESG) issues jumped in 2020, driving assets under management up 29 per cent in the fourth quarter to nearly $1.7 trillion,...

"GameStop effect" could ripple further: Market analysts

"GameStop effect" could ripple further: Market analysts

REUTERS 2021-01-29 11:41:01

The clash between retail traders and Wall Street professionals that sparked roller coaster rides in the shares of GameStop Corp may pose a risk to dozens of other stocks and potentially create a heada...

Facebook shuts popular stock trading group

Facebook shuts popular stock trading group

Reuters 2021-01-29 11:31:00

Facebook took down a popular Wall Street discussion group, Robinhood Stock Traders, in a move that its founder on Thursday described as backlash for conversations buoying shares of GameStop Corp and o...

Junior bankers feel left behind during pandemic-era boom

Junior bankers feel left behind during pandemic-era boom

-- 2021-01-28 13:07:15

As top investment bankers orchestrated major deals through Zoom during the coronavirus (Covid-19) pandemic, junior staffers say they were often sitting home, bored and alone, discouraged by an industr...

Global remittance flows can rebound to pre-pandemic levels in 2021: Study

Global remittance flows can rebound to pre-pandemic levels in 2021: Study

-- 2021-01-27 19:59:32

Money transfers from migrants overseas could rebound to pre-pandemic levels, upending a World Bank forecast of a further slowdown in remittances to developing countries in 2021, according to a new stu...

Global economy threatened by Covid-19 resurgence

Global economy threatened by Covid-19 resurgence

-- 2021-01-27 10:54:26

There is a high risk of a resurgence in coronavirus (Covid-19) infections derailing the world economy this year, according to a firm majority of economists in a Reuters poll, who forecast global GDP w...

IMF lifts global growth forecast for 2021, still sees ‘exceptional uncertainty’

IMF lifts global growth forecast for 2021, still sees ‘exceptional uncertainty’

-- 2021-01-26 19:39:45

The International Monetary Fund (IMF) on Tuesday raised its forecast for global economic growth in 2021 and said the coronavirus-triggered downturn in 2020 would be nearly a full percentage point less...

It could take decade for poor to recover Covid-induced economic losses, Oxfam says

It could take decade for poor to recover Covid-induced economic losses, Oxfam says

SM Najmus Sakib 2021-01-25 15:50:06

A new report by the Oxfam said on Monday that it could take more than a decade for the poor people across the globe to recover from the economic losses caused by the coronavirus pandemic. In its...

Saudi sovereign fund to double assets to $1.07tn in five years: Crown Prince

Saudi sovereign fund to double assets to $1.07tn in five years: Crown Prince

Reuters 2021-01-25 14:24:48

Saudi Arabia’s Public Investment Fund plans to double its assets to 4 trillion riyals ($1.07 trillion) by 2025, Prince Mohammed bin Salman said on Sunday, a move that would make it one of the wo...

Asian stocks rise to record high on Biden stimulus hopes

Asian stocks rise to record high on Biden stimulus hopes

Reuters 2021-01-21 13:50:49

Asian stocks scaled to record highs on Thursday as investors were hopeful the incoming Biden administration will be able to secure passage of a massive new stimulus package to cushion the economic dam...

Wall Street bounce, upbeat earnings lift European stocks

Wall Street bounce, upbeat earnings lift European stocks

Reuters 2021-01-21 10:50:22

European stocks rose on Wednesday after Dutch chip equipment maker ASML and Swiss luxury group Richemont gave encouraging earnings updates, while investors hoped for a large US stimulus plan as Joe Bi...

Goldman Sachs profit more than doubles

Goldman Sachs profit more than doubles

Reuters 2021-01-20 10:42:25

Goldman Sachs Group dwarfed Wall Street estimates as its fourth-quarter profit more than doubled, powered by another blowout performance at its trading business and a surge in fees from underwriting a...

Biden's Treasury nominee Yellen for big spending now, paying down debt later

Biden's Treasury nominee Yellen for big spending now, paying down debt later

-- 2021-01-20 10:10:46

Janet Yellen, US President-elect Joe Biden’s nominee for Treasury Secretary, urged lawmakers on Tuesday to “act big” on coronavirus relief spending, arguing that the economic benefit...

China economy ends pandemic-hit 2020 with growth beating forecasts

China economy ends pandemic-hit 2020 with growth beating forecasts

REUTERS 2021-01-18 12:59:42

China's economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-stricken 2020 in remarkably good shape and remained poised to expand further thi...

Italy's public debt may surge to post-war record high at 158.5pc of GDP

Italy's public debt may surge to post-war record high at 158.5pc of GDP

Reuters 2021-01-17 13:18:06

Italy forecasts its debt to soar to a new post-war record level of 158.5 per cent of gross domestic output (GDP) this year, surpassing the 155.6 per cent goal it set in September, a government source...

ADB, EIB form partnership to protect oceans, support blue economy

ADB, EIB form partnership to protect oceans, support blue economy

-- 2021-01-16 19:04:06

The Asian Development Bank (ADB) and the European Investment Bank (EIB) has formed a new clean and sustainable ocean partnership to support initiatives in Asia and the Pacific to help meet the SDGs an...

China's battle against fresh COVID outbreak clouds economic recovery

China's battle against fresh COVID outbreak clouds economic recovery

Reuters 2021-01-15 17:09:17

New cases in China are at 10-month highs, prompting the lockdown of 28 million people in two provinces, disrupting logistics and industrial activity, with millions expected to scrap holiday travel pla...

Turkey’s costly food starves the economic rebound

Turkey’s costly food starves the economic rebound

REUTERS 2021-01-15 15:49:34

Food has become so expensive in Turkey that some people are spending what money they have to stock up on rice and pasta to avoid swallowing even higher prices in the months ahead. Parents have switch...

Biden’s Covid-19 package offers bridge for hard-hit economy

Biden’s Covid-19 package offers bridge for hard-hit economy

REUTERS 2021-01-15 15:00:11

US President-elect Joe Biden’s proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge in jobs and spending that many economists say is needed to avoid long-te...

Japan's households, firms keep piling up cash at record pace

Japan's households, firms keep piling up cash at record pace

-- 2021-01-14 11:41:11

Japan’s currency in circulation and bank deposits rose at a record pace in December, data showed on Wednesday, as a resurgence in coronavirus infections prompted companies and households to cont...

Some developing nations paying high interest rate on bilateral debt: WB's Malpass

Some developing nations paying high interest rate on bilateral debt: WB's Malpass

-- 2021-01-14 11:11:38

World Bank President David Malpass urged private sector creditors to finally step up and help poor countries deal with the economic and health crises unleashed by the Covid-19 pandemic and stop collec...

Twitter tumbles after Trump ban

Twitter tumbles after Trump ban

Reuters 2021-01-12 09:27:11

Twitter’s stock tumbled over 6 per cent in the early trading on Monday (US standard time) after its move to permanently suspend US President Donald Trump’s widely-followed account spurred...

UN launches fund for women enterprises to support innovative solutions

UN launches fund for women enterprises to support innovative solutions

FE Online Desk 2021-01-11 12:54:13

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the United Nations Capital Development Fund (UNCDF) have recently launched a fund for women enterprises to suppor...

New Zealand central bank's data system breached

New Zealand central bank's data system breached

REUTERS 2021-01-10 10:45:33

The Reserve Bank of New Zealand said on Sunday that it was responding with urgency to a breach of one of its data systems. A third-party file-sharing service used by the central bank to share and sto...

Tesla market value crosses $800b

Tesla market value crosses $800b

Reuters 2021-01-09 11:43:00

Shares of Tesla jumped as much as 5.6 per cent on Friday, pushing the electric-car maker’s market capitalisation to more than $800 billion for the first time ever and inching closer to the trill...