Sectors News Results

  • China Broadens Digital Currency Pilot Program

    BEIJING--China's commerce ministry unveiled a pilot program to use a digital currency across major cities, expanding on an initiative to launch the first electronic payment system by a major central bank. The digital currency pilot program, part of the government's sweeping plan to promote the service sector, covers Beijing, Tianjin, Hebei province, the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, the Ministry of Commerce said in a statement...

  • Search For Next Tesla Fuels Rally in Chinese Auto Stocks

    A recovery in car sales in China and hopes that electric vehicles will become widely adopted, have powered a surge in Chinese auto stocks. An S&P index tracking larger Chinese automobile and component makers has risen 30% in the year through Wednesday, versus an 8.5% increase for the equivalent global index. Makers of plug-in cars have led the advance, mirroring a huge run-up in Tesla Inc.' s stock.

  • Brazil Retail Sales Rose in June as Some Quarantine Measures Relaxed

    SAO PAULO--Brazil retail sales rose in June as shoppers returned to stores after governments in many states and towns continued to loosen coronavirus quarantine measures. Sales increased a seasonally adjusted 8% in the month and rose 0.5% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE said Wednesday. It was the first year-on-year increase since February.

  • Singapore's Economy Shrank at a Faster Pace in 2Q

    Singapore's economy contracted faster in the second quarter than previously estimated amid continued fallout from Covid-19, revised data showed Tuesday. The economy shrank 42.9% in the quarter from a year earlier, compared with the prior estimate for a 12.6% contraction, due to domestic measures to slow the virus combined with weak external demand, the Ministry of Trade and Industry said. The wholesale-and-retail trade sector shrank 8.2% in the second quarter, worsening...

  • Aramco's Dividend Discipline Isn't Enough -- Heard on the Street

    Oil industry investors have been rocked by two jarring dividend cuts this year, but the biggest oil company of them all has stayed the course. That discipline will do little to attract foreigners to Saudi Aramco, though. It was a brutal second quarter for the entire oil sector: Profits were hit hard by Covid-19 lockdowns exacerbating an ill-timed price war.

  • Conference Board's Employment Trends Index Rises in July for Third Consecutive Month

    An index measuring employment trends in the U.S. rose in July for the third consecutive month as the labor market continued to recover from the coronavirus shock to the economy, data from the Conference Board showed Monday. The Conference Board Employment Trends Index stood at 50.89 in July, compared with an upwardly revised figure of 49.46 in June. The labor market is still far from making up all lost ground, as the index is down 53.8% from a year ago, the report said.

  • China's Forex Reserves Rose $42.06 Billion in July

    BEIJING--China's foreign-exchange reserves rose in July for a fourth straight month amid a weakening dollar and the country's recovering export sector, official data showed Friday. The country's hoard of foreign exchange increased by $42.06 billion to $3.154 trillion at the end of July, according to data released by the People's Bank of China. Economists polled by The Wall Street Journal had expected a $30 billion rise in reserves in July.

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