ECONOMIC NEWS

Brent crude tops $40 after Biden’s win lifts risk-takers

Brent crude tops $40 after Biden’s win lifts risk-takers

Brent crude futures for January climbed $1.06, or 2.7%, to $40.51 a barrel by 0453 GMT and U.S. West Texas Intermediate crude for December was at $38.21 a barrel, up $1.07, or 2.9%.Oil recovered from a 4% decline on Friday, rising along with other financial markets...

Oil prices slip 3% as Europe widens lockdowns

Oil prices slip 3% as Europe widens lockdowns

Brent crude for January was at $36.78 a barrel, down $1.16, or 3.1%, by 0229 GMT, while U.S. West Texas Intermediate fell $1.24, or 3.5%, to $34.55 a barrel.Brent fell as much as 5.8% and WTI as much as 6% in early trade, hitting their lowest levels since May. Oil...

Asia suffering ‘worst recession in living memory’

Asia suffering ‘worst recession in living memory’

Asia Pacific is set to recover from its worst recession in living memory, the International Monetary Fund (IMF) says. Growth forecasts for the region have been downgraded again, this time from -1.6% to -2.2% for this year. However, the glimmer of hope is for a...

Firms urged to get ready for new EU relationship

Firms urged to get ready for new EU relationship

Companies need to step up preparations so they are not "caught out" by new post-Brexit trade rules, the government has said. A public information campaign titled "Time is running out" will urge firms to focus on the 1 January deadline. However, it is not yet clear...

China’s economy continues to bounce back from virus slump

China’s economy continues to bounce back from virus slump

China's economy continues its recovery from the Covid-19 pandemic according to its latest official figures. The world's second-biggest economy saw growth of 4.9% between July and September, compared to the same quarter last year. However, the figure is lower than the...

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