International News
Europe close: Investors fade early bounce as UK postpones easing lockdown
Selling in European stocks extended into a second session at the end of the month, after Downing Street postponed easing lockdown restrictions for two weeks and following the release of data showing a record contraction in euro area economic growth during the second quarter.
US Chicago PMI moves back into expansion territory in July
A widely-followed gauge of manufacturing sector activity in the Chicago area bounced back sharply in July.
US consumers 'don't expect the recession to end anytime soon', U.Michigan says
US consumer sentiment slipped a bit more than had been anticipated in July, belying consumers' skepticism about the sustainability of the economic rebound, some economists said.
Facebook smashes quarterly revenue forecasts
Social media giant Facebook smashed quarterly revenue estimates overnight and forecast similar growth to come despite multiple corporations boycotting the internet giant and the impact of the Covid-19 pandemic.
US open: Stocks mixed following big tech earnings overnight
Wall Street stocks were mixed at the bell on Friday following earnings from some of the technology sector's biggest names overnight.
US pre-open: Futures point to modest gains following tech earnings
Wall Street futures were pointing to modest gains ahead of the bell on Friday following strong earnings by some of the technology sector's biggest names overnight.
Americans continue to splash out in June
Americans continued to splash out even as income growth continued to ease from April's fiscal policy induced bonanzas.
Amazon gets FCC approval for $10bn internet satellite constellation launch
Amazon received approval from the US Federal Communications Commission to launch and operate a planned constellation of 3,236 internet satellites in which it has invested $10bn.
France Q2 GDP falls by record 13.8% as Covid lockdowns bite
France’s economy contracted by a record 13. 8% in the second quarter as it felt the impact of coronavirus lockdowns, official data showed on Friday.
Washington to support GSK and Sanofi Covid-19 vaccine with $2.1bn
GlaxoSmithKline and Sanofi have inked an agreement with the US government to speed up development and manufacturing of their Covid-19 vaccine candidate at scale.
Hackers linked to Beijing targeted Covid-19 vaccine firm Moderna
Hackers linked to the Chinese governmenT targeted US biotech company Moderna which is currently focusing on developing a Covid-19 vaccine, with the aim of stealing valuable data.
Roman Abramovich sells stake in Highland Gold
A group of investors in Highland Gold, including Russian billionaire Roman Abramovich, announced on Friday the sale of a roughly 40% stake in the company's share capital to Fortiana Holdings at a valuation of approximately $1. 1bn.
Amazon blows past Q2 forecasts, raises guidance
Amazon blew past forecasts for second quarter trading - not least its own - as the Covid-19 pandemic drove people around the world in streams onto its digital retail services platform.
Asia report: Markets mixed as China PMI beats forecasts
Markets in Asia finished in a mixed state on Friday, with equities in Japan suffering a serious slide, as investors digested the worst ever contraction in the United States economy, according to fresh data released overnight.
Euro area GDP collapses at record rate in second quarter 2020
Euro area gross domestic product recorded a contraction 12. 1% over the second quarter.
Facebook claims new Apple iOS could hurt ad targeting
Facebook Chief Financial Officer David Wehner said on Thursday that the Apple iOS 14 system could hurt the way the social media network targets ads to users.
Spain enters recession as GDP plummets 18.5%
Spain posted a record fall in GDP in the second quarter, plunging a worse-than-expected 18. 5% and sending the country into a deep recession, data from the National Statistics Institute showed on Friday.
Official China factory PMI edges past forecasts in June
Chinese manufacturing sector activity recorded a fifth consecutive month of recovery, the results of a key survey showed.