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Reuters

Brazil's economy faces tougher months: official
World

Brazil's economy faces tougher months: official

  • Adolfo Sachsida, economy policy secretary at the ministry, said the aid to low-income Brazilians had cost some 25 billion reais ($4.67 billion) per month.
  • He added that Brazil's economy should improve over the first half of the year and grow at least 3% in 2021.
Published 08 Jan, 2021 08:11pm
Cisco in court after Acacia ends $2.84bn merger deal
Business & Finance

Cisco in court after Acacia ends $2.84bn merger deal

  • The swift response came after Acacia said the deal failed to obtain regulatory approval from China within the originally agreed time frame.
  • Cisco said it received the approval on Thursday and sought confirmation from the Delaware Court of Chancery that it has met all conditions for closing the deal.
Published 08 Jan, 2021 08:07pm
IMF projects Egypt's economy will grow 2.8pc in 2020/21 year
World

IMF projects Egypt's economy will grow 2.8pc in 2020/21 year

  • Egypt's economy had been boosted in the last three years by an upswing in tourism.
  • The growth impact of the COVID-19 crisis has so far been less severe than expected, as strong consumption helped offset weak tourism and investment.
Published 08 Jan, 2021 07:37pm
Copper slips from 2013 peak as doubts grow about stimulus
Markets

Copper slips from 2013 peak as doubts grow about stimulus

  • Three-month copper on the London Metal Exchange was down 0.1% at $8,169.50 a tonne.
  • I think the market was just looking for positive news and the outcome of Georgia elections fits, but from a fundamental point of view it doesn't really change things.
Published 08 Jan, 2021 07:35pm
1.1 million people in England had COVID last week
World

1.1 million people in England had COVID last week

  • The ONS estimated that 1,122,000 people in England had the coronavirus (COVID-19) in the week to Jan 2.
  • London, the East of England and the South East have the highest percentage of positive cases that are compatible with the new variant of the virus.
Published 08 Jan, 2021 07:27pm
Bitcoin on record-setting spree, jumps 5pc on day
Markets

Bitcoin on record-setting spree, jumps 5pc on day

  • The world's most popular digital currency slid to as low as $36,618.36 on Bitstamp exchange before bouncing back. Rival cryptocurrency ethereum rose 3% after sinking more than 10%.
  • We are seeing a continued demand spike driven largely by sustained and unprecedented institutional interest.
Published 08 Jan, 2021 07:21pm
OCBC's Wong to be first woman CEO of Singapore bank
Business & Finance

OCBC's Wong to be first woman CEO of Singapore bank

  • Wong, 59, will become the first woman to head a Singapore bank and among the few to lead an Asian bank. The appointment is effective April 15.
  • Kevin Kwek, senior analyst at Sanford C. Bernstein, said that given Wong's China experience, he expects OCBC.
Published 08 Jan, 2021 07:14pm
Shares soar on hopes of global recovery, US stimulus
Markets

Shares soar on hopes of global recovery, US stimulus

  • Nikkei hits 30-year high.
  • Hopes for vaccines, US stimulus turbocharge sentiment.
  • Chinese telcos lose $5.6 bln in value after index drop.
  • Bitcoin touches fresh all-time high.
  • Investors await US non-farm payrolls data.
  • Dollar rises on recovery expectations.
  • 10-year Treasury yields hit highest since March.
Published 08 Jan, 2021 07:11pm
Swiss expect gradual improvement in job market during 2021
World

Swiss expect gradual improvement in job market during 2021

  • Companies almost immediately stopped hiring last March after the first government restrictions, triggering a rise in unemployment throughout the year.
  • "Short-time working has allowed companies to deal with the crisis and make plans for the future," he told a news conference in Bern.
Published 08 Jan, 2021 07:08pm