CategoryGlobal

Largest EU economy enters unexpected stagnation

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The production of German industry fell slightly in August against the expectation. This brings to a halt the earlier recovery of industry in Europe’s largest economy, as is shown by data from the German Federal Statistical Office. Production fell by 0.2 per cent in August compared to July, where economists in general expected an increase of 1.5 per cent. However, the growth rate for the...

News about Donald Trump COVID-19 positive test worried the markets

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European stock exchanges seem to open lower. The news that American president Donald Trump has been tested positive for the coronavirus creates uncertainty on the trading floor. The opening indicators for the American stock exchanges dropped sharply after the news. Trump tweeted that he and his wife Melania have the coronavirus. They probably contracted the SARSv2 virus through close contact with...

WTO allowed EU to impose tariffs on US import

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The World Trade Organization (WTO) has authorized the European Union to impose import duties on US products of USD 4 billion. That’s what Reuters news agency reports based on insider information. These charges would allow the EU to retaliate against state aid prohibited by the Americans to the airline group Boeing. These are charges in a long-standing dispute between the US and the EU over...

American markets in sell-off mode

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The stock exchanges in New York closed the week with clear losses. Uncertainty about potentially over-advanced stock market prices for tech companies has long dominated sentiment, and investors are looking for direction. Big technology companies therefore went on sale. In addition, a new step was taken in the Chinese-American conflict around the apps TikTok and WeChat. The Dow Jones index was 0.9...

ByteDance tries to evade the sell of TikTok

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ByteDance tries to prevent a sale of its American branch of film app TikTok. For this reason, the company is currently engaged in talks with the U.S. government, according to business newspaper The Wall Street Journal based on insider information. According to sources, talks on an alternative plan have been going on for months. These negotiations came under additional pressure after the Chinese...

Saudi Arabia lowers oil prices

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KazMunayGaz

Saudi Arabia is lowering its prices for supplies of crude oil to Asia and the United States. Oil prices went down again on Monday, after the strong mins on Friday. These are deliveries scheduled for October. It is the first time in six months that Saudi Arabia has reduced US sales prices. The Saudi step may indicate that oil demand is recovering less strongly from the consequences of the...

Eurozone strengthens growth but it is still very weak

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Eurozone manufacturing activity will pick up again this month. British market researcher Markit says this in preliminary figures. It is the first time since the corona crisis that growth has returned. Industrial activity was hit hard by the corona measures, especially in April and May, after which an ever smaller contraction was measured. The purchasing managers index, which shows activity, came...

Gold and silver prices set records

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The silver price has reached its highest level since October 2013, while the gold price is also on the rise. The demand for the precious metals is increasing because investors are looking for safe havens to invest in because of the turmoil caused by the corona crisis. The price of a troy ounce of silver (31.1 grams) climbed to $ 22.83 on Wednesday morning. The silver price is also rising due to...

ACEA: 25 percent drop in car sales for this year expected

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Car sales in Europe may be a quarter lower this year than initially thought. Due to the corona pandemic, the number of passenger car registrations dropped sharply between mid-March and May. After easing preventive measures against the coronavirus, sales are likely to pick up, but according to European industry association ACEA, that is nowhere near enough to make up for the previous year. For the...

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