Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday afternoon, as investors await closely-watched central bank meetings in the coming days.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Britain's Antstream is jumping into the cloud gaming battle with a streaming platform for retro titles. And Tencent just backed the company.Technologyread more
American comedian Hannibal Buress, who stars in "The Eric Andre Show," has made a recent transition into the world of business as an angel investor — but there's an important...How I Made Itread more
The deal could be announced as soon as next week, according to the report.Technologyread more
President Donald Trump held "constructive" discussions on a range of economic issues including trade and national security issues.Technologyread more
Markets in Europe closed Thursday's sharply lower, weighed down by weakness seen in markets overseas.
The pan-European Stoxx 600 sank 1.08 percent by the close, with the majority of the region's sectors in the red. Household goods were the worst performers, tumbling 3 percent overall.
In the corporate space, banks was one of the few sectors to close higher. On Wednesday, shares in Greek banks saw a massive plunge. Investors fear that regulators will demand further capital. However, on Thursday, Greek lenders closed trade on positive ground, with Piraeus Bank up over 9 percent and the National Bank of Greece also closing up around 9 percent. The upbeat sentiment helped lift other European banks.
The biggest sectoral loser was household gains, tanking 3 percent overall, with a number of luxury groups dropping to the bottom of the group. Burberry, LVMH and Christian Dior all closed down 4 percent or more.
Looking across the European index, Electrocomponents jumped over 4 percent, after reporting that first-half profits jumped 27 percent from a year ago. Meanwhile, Btg rose 5.1 percent after the healthcare group upgraded its product sales guidance.
Elsewhere, shares in Danske Bank dropped 4.6 percent following news that the bank will be investigated by the U.S. Department of Justice over a money laundering scandal. Such a probe could result in a big fine.
Danish firm Ambu published an update on its 2020 strategy Thursday and upgraded its financial targets. While the group stated that is outlook for the 2017/18 year remained unchanged, shares of the firm tanked 14.7 percent.
Markets in Europe extended losses in afternoon trade, on the back of negative trading seen on Wall Street. Stocks in both the U.S. and Asia had been on edge Thursday, as interest rates hit new multiyear highs. The yield on the benchmark 10-year U.S. Treasury note notched its highest level in over 7 years. The rise in interest rates come after better-than-expected U.S. economic data on Wednesday and fresh comments from the chair of the U.S. central bank.
On Wednesday, Fed Chair Jerome Powell said that the bank was a "long way" from neutral on interest rates. Many analysts have been forecasting the institution will hike rates a further three times, once this year and twice in 2019. Powell's comments pushed the dollar and bond yields higher, with high yields in bond markets often seen as a negative for stocks, given that they mean higher costs for companies. Around Europe's close Thursday, the Dow tumbled more than 200 points.
Investors also kept a close eye on Italian politics. Prime Minister Giuseppe Conte said on Wednesday that the government deficit will be decreased in the next three years, despite the surge planned for 2019. Market players are worried about extra spending in the third largest euro economy, given its 130 percent of GDP debt pile. On Thursday, Italy's Deputy Prime Minister Luigi Di Maio said that the economic growth targets detailed in the government's multi-year budget plan would not exceed 1.5 or 1.6 percent per year, Reuters reported.
And Brexit continues to be an area of focus for traders, particularly in the currency markets. The British pound extended gains Thursday amid reports that the U.K. could join a customs union within the European Union. Both Ireland and the EU have reportedly welcomed such a proposal. Sterling climbed almost 0.6 percent against the dollar, above the $1.30 threshold, around the Europe close.