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Reuters

Business

Aussie, euro down in Europe

LONDON: The Australian dollar hit a two-week low on Thursday after the head of the central bank hinted at possible...
Published 16 Oct, 2020 02:45am
Business

Latam FX fall

Sao Paulo: Latin American currencies fell on Thursday as the dollar gained on dwindling risk sentiment due to rising...
Published 16 Oct, 2020 02:45am
Business

Sterling weakens

LONDON: Sterling weakened sharply on Thursday, sent lower by concerns about the obstacles keeping the European Union...
Published 16 Oct, 2020 02:45am
Daimler posts forecast-beating results as demand rebounds
Business

Daimler posts forecast-beating results as demand rebounds

  • Third-quarter earnings before interest and tax reached 3.07 billion euros ($3.59 billion), Daimler said, beating the 2.14 billion Refinitiv forecast.
  • The COVID-19 pandemic had led to a slump in sales, pushing the company to operating losses in the first and second quarters.
Updated 16 Oct, 2020 02:40am
Oil eases as new lockdowns raise concern about fuel demand
Markets

Oil eases as new lockdowns raise concern about fuel demand

  • US petroleum products supplied increase last week – EIA.
  • US distillate inventories post biggest drop since 2003 – EIA.
  • Europe revives lockdowns amid soaring coronavirus cases.
  • OPEC+ made little progress in compensating for overproduction.
  • Top global oil traders see slow oil demand recovery.
Published 16 Oct, 2020 01:51am
Pompeo criticizes Turkey's involvement in Nagorno-Karabakh conflict
World

Pompeo criticizes Turkey's involvement in Nagorno-Karabakh conflict

  • Several hundred people have been killed in the deadliest flare-up of the decades-old conflict since a 1990s war over Nagorno-Karabakh killed about 30,000 people.
  • Nagorno-Karabakh belongs to Azerbaijan under international law, but is populated and governed by ethnic Armenians.
Published 16 Oct, 2020 01:48am
Yields edge up as safe-haven buying sputters
Markets

Yields edge up as safe-haven buying sputters

  • Guy LeBas, chief fixed income strategist at Janney Capital Management in Philadelphia, said the session's earlier risk-on tone switched to risk off as Wall Street pared losses.
  • "You see it in the pretty substantial reversal after a big morning rally in Treasuries," he said.
Published 16 Oct, 2020 01:38am
Johnson to set out UK's Brexit approach on Friday, Frost says
World

Johnson to set out UK's Brexit approach on Friday, Frost says

  • Britain left the EU in January and the estranged allies have since been locked in complex negotiations to try to agree a free trade deal for when a status-quo transition period ends on Dec. 31.
  • The European Union on Thursday said Britain needed to compromise to secure an agreement.
Published 16 Oct, 2020 01:34am
Biden to raise $2.4 trillion from taxes over a decade
World

Biden to raise $2.4 trillion from taxes over a decade

  • Analysts at the Urban-Brookings Tax Policy Center revised a March estimate that suggested Biden would raise around $4 trillion in taxes,
  • The $4 trillion figure became a regular attack leveled by President Donald Trump against Biden ahead of their Nov. 3 election contest.
Published 16 Oct, 2020 01:32am
EU wheat extends rally after Chicago jumps to near 5-year high
Markets

EU wheat extends rally after Chicago jumps to near 5-year high

  • Benchmark December milling wheat on Paris-based Euronext unofficially closed 1.7% higher at 207.00 euros ($242.1) a tonne after touching a new contract high of 207.25 euros.
  • "The market is factoring signs that dry weather could hamper wheat crops in many large growing regions," a trader said.
Published 16 Oct, 2020 01:27am
UAE, Israel working on double tax treaty to encourage investment
World

UAE, Israel working on double tax treaty to encourage investment

  • Several commercial agreements have been signed between the two countries since mid-August, when they agreed to normalise relations.
  • There is a preliminary agreement between both countries to start negotiations with Israel on Double Taxation Avoidance Agreement soon.
Published 16 Oct, 2020 01:25am