The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Stocks in Asia were lower on Monday, as shares on a new Nasdaq-style technology board on the Shanghai Stock Exchange skyrocketed on their debut day.Asia Marketsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
European stocks surged to close almost 3 percent higher after European Central Bank President Mario Draghi reiterated on Thursday that the central bank was ready to start "full-blown" quantitative easing.
In a letter made public, Draghi said the Governing Council would closely monitor the "risks to the outlook for price developments over the medium term".
The pan-European FTSEurofirst 300 ended by 2.9 percent higher at 1,368.85, with all major sectors and bourses rallying after the letter. The CAC and the German DAX both rallied to provisionally close around 3.5 percent higher. London's FTSE 100 ended around 2.4 percent higher.
Retail stocks were the major outperformer, with Tesco shares closing nearly 15 percent. The U.K. grocer reported a drop in sales over the Christmas period but detailed a turnaround plan on Thursday, which included plans to cut overhead costs in the U.K. by 30 percent.
Trading in Spain's Santander, the euro zone's largest bank by market value, was temporarily suspended on Thursday after the lender that it would raise 7.5 billion euros ($8.82 billion) in capital through an accelerated placement, and added that it was changing its dividend policy.
U.S. stocks also surged on Thursday, extending the prior day's robust gains, as the price of oil steadied and on thinking the Federal Reserve and the European Central Bank would buttress the global economy.
Comments late Wednesday by Fed Bank of Chicago President Charles Evans helped the bullish slant, with Evans saying he did not believe the central bank should be in a rush to hike interest rates.
Aside from individual stocks news, sentiment was boosted by data from the euro zone on Wednesday that showed the region's inflation rate fell into negative territory for the first time since 2009. The figures add more pressure on the ECB to launch a U.S. Federal-Reserve-style bond-buying program.
There has been resistance to any such a quantitative easing program from countries like Germany, however, and markets are now awaiting the outcome of the ECB's meeting on January 22 to see what the central bank will do. Aggressive stimulus could increase the search for yield and boost riskier assets like stocks—as such, the weak inflation data is being seen as positive by market participants.
On the data front, a euro area business confidence index for December fell to 0.04 versus a reading of 0.17 in November. Also, German factory orders on Thursday morning showed a sharp monthly fall in November, with new orders down 2.4 percent.
In the U.K., the Bank of England held interest rates at a record low as expected on Thursday. The central bank kept its benchmark base rate at 0.5 percent, where it has been since March 2009, and maintained its asset purchase target at £375 billion ($564 billion).
In corporate news, Standard Chartered will ax around 4,000 jobs worldwide at its retail banking division and, in addition, is closing its global equities business, according to an internal memo seen by Reuters on Thursday. Shares were higher by 1.9 percent before paring gains to close around 0.9 percent higher.