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Economy

The gains were broad-based, with the S&P financial sector rising 1.40 percent and the technology index 1.34 percent, putting the S&P index on track for its biggest single-day percentage gain in almost four months. "Safe-havens are bid and markets are a little uneasy ". It also firmed 0.6 per cent against the Swiss franc, another currency which is favoured during times of stress and touched two-week highs last week.
  • Global stocks, dollar extend slide as US, North Korea tensions intensify

    Global stocks, dollar extend slide as US, North Korea tensions intensify

    Economy

    These have ranged from an investigation into Russia's possible interference in the 2016 USA presidential election, to concerns about China's risky debt levels, to stubbornly low inflation in the U.S. The dollar held steady at 110.02 yen JPY= , having pulled up from Wednesday's low of 109.56 yen, its lowest level since June 15. The weaker-than-expected consumer price data in July, which pointed to benign inflation, could cause the Federal Reserve to hold off from raising rates again this year.
  • Facebook discreetly launches unbranded China app

    Facebook discreetly launches unbranded China app

    Economy

    If the app fails, the social network may rue its decision to take the leap. The app is published by a Chinese company called Youge Internet Technology and bears no apparent affiliation with the social networking company. It's the population of 700 million internet users. "We have long said that we are interested in China, and are spending time understanding and learning more about the country in different ways", a Facebook spokesperson said by email.
  • Japan's Economy Grows 4% Amid Surprise Rise In Spending

    Japan's Economy Grows 4% Amid Surprise Rise In Spending

    Economy

    The rosy data was also a vindication for Japanese Prime Minister Shinzo Abe's government, which has faced criticism that its economic agenda has not done enough to revive the country's fortunes. The economy is enjoying its longest economic expansion in a decade, buoyed by spending and investment. Private consumption rose 0.9% during the period as shoppers spent on big items like cars and home appliances, and also dined out more.
  • Neo-Nazi site The Daily Stormer kicked off server for Charlottesville hate speech

    Neo-Nazi site The Daily Stormer kicked off server for Charlottesville hate speech

    Economy

    While there was still much racist and sexist content on the website, the website currently displayed an article on its front page titled "End of hate: Anonymous now in control of Daily Stormer #TANGODOWN". GoDaddy's decision was part of a tumultuous day for the Daily Stormer , which was the subject of a CNET profile last month. The events of Charlottesville alerted us to the need for immediate action.
  • Asian shares expected to focus on China data, dollar languishes

    Asian shares expected to focus on China data, dollar languishes

    Economy

    China's Shanghai Composite index jumped 28,82 points or 0.90 percent to 3,237.36 while Hong Kong's Hang Seng index was up almost 1.4 percent at 27,250 in late trade. The yield on the benchmark 10-year Treasury note, which moves inversely to its price, traded tad 1/2 basis point lower at 0.05 percent, the yield on long-term 30-year note slipped almost 1 basis point to 0.84 percent and the yield on short-term 2-year traded flat at -0.11 percent by 05:50 GMT.
  • July WPI inflation quickens after four months on higher food prices

    July WPI inflation quickens after four months on higher food prices

    Economy

    Wholesale inflation remained low in July a year ago at 0.63 percent. Similarly, prices of food articles rose massively by 2.15 per cent from a deceleration of (-) 3.47 per cent during June 2017 and a rise of eight per cent in July 2017. The apex bank had maintained a "neutral stance" and forecast a possible rise in inflation. The government called on Friday for more rate cuts as it flagged risks to economic growth and budget targets.
  • FTSE ends down as shares hit by US-North Korea tensions

    FTSE ends down as shares hit by US-North Korea tensions

    Economy

    And with that, the S&P 500's steak of 58 days without a 1% move in either direction came to an end. The euro edged 0.3 per cent lower to 1.1726 against the dollar . But for the week the S&P 500 lost 1.3 percent, its worst weekly showing since March. Economic data showed US worker productivity rose more than expected in the second quarter but the trend remained weak.
  • Dow plummets 205pts as Trump inflames Korea tension

    Dow plummets 205pts as Trump inflames Korea tension

    Economy

    Keeping up his tough talk , U.S. President Donald Trump told reporters that North Korean leader Kim Jong Un's government should "get their act together" or face the consequences, and suggested that his earlier threat to unleash "fire and fury" on North Korea was too mild.
  • U.S. officials downplay risk of nuclear war

    Economy

    Both sides have used hostile rhetoric, with President Donald Trump threatening " fire and fury " on the North. "Let's see what he does with Guam", Trump told reporters, referring to North Korean dictator Kim Jong-un. "What I'm talking about is I've heard folks talking about being on the cusp of a nuclear war", he clarified. 'There's nothing imminent today , ' Pompeo told Chris Wallace on 'Fox News Sunday'.
  • Bitcoin surges past $4000, sets more records

    Bitcoin surges past $4000, sets more records

    Economy

    No one knows. Bitcoin could crash 50% to $2,000 tomorrow or spike to $5,000 - and I don't think anyone who truly knows crypto would be surprised at either option. One analyst, Thomas Lee of Fundstrat Global Advisers, believes Bitcoin is an "under owned asset" and prefers the virtual currency over gold . This week, Fidelity launched a feature allowing customers to also view their Coinbase bitcoin holdings.
  • Oakland Raiders Marshawn Lynch sits during national anthem

    Oakland Raiders Marshawn Lynch sits during national anthem

    Economy

    There isn't a specific reason why Lynch protested, but if it were parallel reasons, Charlottesville, Va. has been dealing with racial protests by white supremacist groups this past week resulting in riots and even people getting run over by a auto who protested against the groups.