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Sunday, August 9, 2020

Behind the Vast Currency Market Rally: A Tumbling Dollar

Investors are ramping up wagers on the falling currency, believing the surge in coronavirus cases will hamper U.S. business activity and drive even more government spending By Amrith Ramkumar The dollar has made a sharp U-turn this summer following a long rally, confounding many traders but...

Microsoft In Advanced Talks to Acquire TikTok amid Trump’s ban moves

Microsoft Corp. is in advanced talks to acquire the U.S. operations of the Chinese-owned video app TikTok, according to people with knowledge of the discussions, in a deal that would be a concession to White House pressure and make the software giant a major...

Euro zone GDP plunged by a record 12.1% in the second quarter

Friday’s preliminary reading is the lowest since records began in 1995. German GDP fell by 10.1%; Italy’s sank by 12.4%; France’s fell by 13.8%; and Spain’s shrank by 18.5%. The euro zone economy contracted by 12.1% in the second quarter of 2020, compared to the first...

Apple just announced a stock split — here’s what that means for investors

During its third quarter earnings results on Thursday Apple said that the company’s Board of Directors approved a four-for-one stock split. Stock splits are cosmetic, meaning they do not change anything about a company’s underlying fundamentals. They can lead to renewed interest from smaller investors...

Bill Gates: US big pharmaceutical companies should be able to ‘manufacture a lot of vaccines’ next year

Billionaire philanthropist Bill Gates told Yahoo Finance in a recent interview that the development of medicine for the coronavirus is “moving at record speed,” and predicted that better treatments will be available this year and “a lot of vaccines” will be made next year. “During...

U.S Second-quarter GDP plunges 32.9% amid virus-induced shutdown, crisis

The U.S. economy suffered its worst period ever in the second quarter, with GDP falling 32.9%. Economists surveyed by Dow Jones were looking for a decline of 34.7%. The U.S. economy saw the biggest plunge in activity it has ever known in the second quarter, though...

China responds to Trump administration’s order, shuts down Houston consulate

Washington, July 25, 2020 The Chinese consulate in the Texas city of Houston was closed down on Friday, a U.S. State Department official confirmed, as Beijing complied with an order from the Trump administration. Local media in Houston reported that U.S. officials entered the...

Singaporean pleads guilty to spying for China in U.S.

By Harrison Arubu New York, July 25, 2020 A Singaporean national has pleaded guilty to spying for China in the U.S., according to the Department of Justice. The department said in a statement on Friday evening that the defendant, Jun Wei Yeo, entered the plea in...

Russia plans to set up base on moon with China

Moscow, July 24, 2020 (dpa/Naija247news) Russia is planning to set up a research base on the moon, most likely in collaboration with China, the head of the Russian space agency Roscosmos said in an interview. “Russia and China have recently decided that we will most...

WHO rejects ‘unacceptable’ remarks by U.S. Secretary of State Mike Pompeo

Top officials of the World Health Organization on Thursday slammed “unacceptable” comments made by U.S. Secretary of State Mike Pompeo, who alleged that China had co-opted the WHO. “The comments are untrue and unacceptable and without any foundation for that matter,” WHO Director-General Tedros Adhanom...
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