Global Economy

11 minutes ago Turkey halted Iranian crude purchases as of May – Report
Turkey halted its purchases of Iranian crude shipments as of this month, after the US sanctions waiver to the country ended, Reuters reported.
43 minutes ago US jobless claims decline by 1,000
The number of unemployed individuals in the US who applied for benefits declined last week, official weekly data showed on Thursday.
1 hour ago Car giants axe 38,000 jobs as sales tumble – Report
Auto giants announced at least 38,000 layoffs over the past six months.
3 hours ago JLL leapfrogs in Fortune 500 list
The leap of the leading professional services firm was the second biggest move on the prestigious list.
3 hours ago Gold prices firm as trade blues, Fed approach support dollar
Trade tensions supported the dollar, while investors looked for a direction after the minutes of the Federal Reserve meeting indicated that rates would remain unchanged.
4 hours ago German business morale falls in May on weak services
The German business climate index slid to 97.9 points in May, from the revised 99.2 in April.
5 hours ago Eurozone business posts sluggish growth in May as demand stagnates
Factories in the Eurozone reported tougher conditions, as the output extended its contraction for the fourth month in a row.
11:02 AM German private sector growth hits 3M-peak in May
Germany’s flash composite output index came in at 52.4 in May, up from 52.2 in April.
10:42 AM Mining giant BHP sees ‘sooner-than-expected’ end to coal era
BHP Group will direct its focus to boost “value to shareholders” at its thermal coal mine in Australia and the Cerrejon business in Colombia.
10:22 AM Oil falls on building US crude inventories amid economic fears
US crude inventories climbed by 4.7 million barrels in the week ended 17 May to 476.8 million barrels, hitting their highest level since July 2017.
12:12 AM Oil ends lower on Wednesday  
Mubasher: Oil futures fell at Wednesday’s settlement, as US inventories rose.  
22 May 10:21 PM Gold goes up at Wednesday’s settlement   
Mubasher: Gold settled higher on Wednesday, as minutes from the Federal Open Market Committee showed near consensus over patient stance on interest rates.
22 May 03:04 PM UK house prices grow 1.4% in March
Annual house price growth in the UK picked up during March, the Office for National Statistics (ONS) said.
22 May 02:53 PM Japan’s exports fall for fifth month amid US-Sino trade disputes
The drop in exports was mainly ascribed to a 41% plunge in China-bound shipments of chip-making tools and semiconductor components.
22 May 01:24 PM US considers adding 5 Chinese surveillance firms to blacklist
The ban on the Chinese giant also threatened to derail global economic growth and disrupt the rollout of fifth-generation (5G) networks.
22 May 12:21 PM UK output price growth slows down slightly in April
Crude oil provided the biggest upward contributions to input annual inflation rate, climbing to 6.9% year-on-year.
22 May 12:04 PM UK consumer inflation picks up steam in April
The UK's consumer price index, the headline gauge for the country’s inflation, edged up to 2.1% year-on-year in April, from 1.9% in March.
22 May 11:57 AM UK public borrowing hits 12-yr trough in April
The UK's public sector net borrowing recorded the lowest April level since 2007.
22 May 11:10 AM Gold wobbles near 2-week trough as dollar strengthens
A firmer dollar and signs of easing tensions between the US and China limited demand for the precious metal.
22 May 10:47 AM Oil drops on US stockpile increase despite tight market
US oil inventories climbed by 2.4 million barrels last week to 480.2 million barrels.
22 May 12:37 AM Oil levels down at Tuesday’s settlement
​​​​​​​Mubasher: Oil futures settled lower on Tuesday on worries over the impact of Sino-American spat and the tensions in the Middle East on demand.
21 May 10:22 PM Gold settles lower on Tuesday  
​​​​​​​Mubasher: Gold levelled down at Tuesday’s settlement on the back of strengthened US dollar.  
21 May 04:08 PM Dallas-Fort Worth Airport, American Airlines to open sixth terminal
Dallas Fort Worth International Airport and American Airlines are joining forces to develop a sixth terminal that would open by 2025.
21 May 03:33 PM Bloomberg to hold New Economy Forum in Beijing in November
Bloomberg and a Chinese state-backed think tank on Tuesday announced the second iteration of the New Economy Forum will be held in Beijing next November.
21 May 02:55 PM All-out trade war could prompt zero Fed rates–Morgan Stanley
The US Federal Reserve could cut interest rates to zero within a year, as the global economy was heading for a recession.