April 8, 2021 8:43 am
Futures on US West Texas Intermediate Crude Oil snapped a two-day streak of gains on Thursday, after an official government report revealed the largest increase in US gasoline inventories since early February, which raised concerns over demand in the country at a time when oil supplies across the globe surge. A report by the US […]
Read moreApril 8, 2021 7:01 am
Royal Dutch Shell said on Wednesday that it projected a drop in its fuel sales during the first quarter, which indicated fuel demand recovery was still sluggish due to the re-imposition of COVID-19-related restrictions in some parts of the globe. The fuel retailer said that it now expected refined oil product sales within the range […]
Read moreApril 7, 2021 9:30 am
Fintech firm Stripe said on Tuesday that it had opened an office in UAE’s financial capital Dubai, its first expansion in the Middle East. Stripe also said that it was entering the market in a tie-up with payments processor Network International, based in Dubai. Established a decade ago by brothers Patrick and John Collison from […]
Read moreApril 7, 2021 7:44 am
Wells Fargo has initiated coverage on General Motors Co (GM) with an ”Overweight” rating, as it said the US auto maker was well positioned for the electrification of the automobile industry. The Wall Street bank also assigned a 12-month price target of $67, which is based off a 4 times multiple of 2022 core EBITDA […]
Read moreApril 6, 2021 9:05 am
Despite being a notch weaker on Tuesday, AUD/USD was still holding ground above the 0.7600 mark, as the Reserve Bank of Australia left the official cash rate without change at a record low level of 0.10% at its policy meeting earlier in the day and noted that the Australian economy had been recovering at a […]
Read moreApril 5, 2021 9:34 am
GBP/USD started the new week on a strong foot, while hitting a fresh two-week high, supported by prospects of a faster-than-expected reopening of the British economy and a potentially robust economic growth. At the same time, the possibility of a rate cut or the introduction of negative interest rates by Bank of England has already […]
Read moreApril 5, 2021 7:32 am
Microsoft Corp (MSFT) said last week that an issue with its Microsoft 365 services and features, including Teams and Azure, had been mitigated, after many users had no access to them. An earlier report by outage tracking website Downdetector stated that more than 8,000 users had reported issues with Microsoft’s Teams workplace messaging app. “We […]
Read moreApril 2, 2021 8:57 am
Spot Gold extended gains from the previous trading day on Thursday, while rebounding from an over three-week low, as the US Dollar and US bond yields eased from recent highs. A bleak US jobless claims report also supported demand for the yellow metal. The US Dollar eased from highs not seen since early November along […]
Read moreApril 1, 2021 9:05 am
Following two straight trading days of losses, futures on US West Texas Intermediate Crude Oil rebounded on Thursday due to expectations that OPEC and its allies will likely continue oil output curbs when the group meets later in the day, as new COVID-19 cases continued to surge. Members of the Organization of the Petroleum Exporting […]
Read moreApril 1, 2021 7:25 am
Alphabet Inc’s Google said on Wednesday that it would contribute EUR 25 million to the newly established European Media and Information Fund in an attempt to combat misinformation. There was a significant surge in fake news surrounding the COVID-19 pandemic and the US presidential election last year, while the social media faced some major criticism […]
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