The latest Economy News: breaking news on the global and UK economy and international investments including audio and video coverage.

Moderna will have 20M COVID-19 vaccines ready by year’s end

Biotech firm Moderna expects to have about 20 million doses of its experimental coronavirus vaccine ready to ship in the US by the end of the year. The Massachusetts-based drug developer will be prepared to distribute the vaccine, dubbed mRNA-1273, around the country if its late-stage clinical study proves that it works and the feds approve it, according to company […]

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Hong Kong economy shows first signs of revival since protests began

HONG KONG (BLOOMBERG) – Hong Kong’s economy is showing the first signs of emerging from a crippling recession sparked by political unrest last year and deepened by the global pandemic. After more than a year of weakness in multiple economic indicators, data this week showed exports from the Asian financial hub surged the most in almost two years in September, […]

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US economy rebounds by record 33.1% in Q3 after Covid-19 plunge

WASHINGTON (BLOOMBERG) – The US economy bounced back with a record yet temporary surge of growth in the third quarter as businesses reopened and stimulus cash powered consumer spending, reversing much of the collapse stemming from coronavirus-enforced lockdowns. US gross domestic product (GDP) for the July to September expanded at a 33.1 per cent annualized pace, after a 31.4 per cent plunge in the […]

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World Series champion Dodgers lost nearly $125M this season

The Los Angeles Dodgers just won the World Series — but they also just lost a bunch of dough. The star-studded Major League Baseball franchise — which pulled off a dramatic, 3-1 victory over the Tampa Bay Rays in Game 6 of the championship series on Tuesday night — has nonetheless been slammed with about $125 million in losses this […]

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UPDATE 1-South African shares spooked by lacklustre budget, global sell off

(Adds latest figures, analyst comments) JOHANNESBURG, Oct 28 (Reuters) – The Johannesburg Stock Exchange (JSE) witnessed a bloodbath on Wednesday as investors feared a repeat of the mayhem in March as Finance Minister Tito Mboweni’s lacklustre budget coincided with a global meltdown of stock markets. The benchmark all share index tanked 3.28%, its biggest single day slump since the market […]

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IATA slashes airline revenue forecast for 2021 on Covid-19 resurgence

PARIS (AFP) – Airline industry revenues are expected to remain 46 per cent lower in 2021 than the US$838 billion (S$1.14 trillion) booked in the last pre-coronavirus year of 2019, industry body IATA said on Tuesday (Oct 27) in a marked worsening of its forecasts. Its previous outlook for a smaller drop of 29 per cent “was based on expectations […]

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September factory orders up 1.9%, economists see risks ahead

You can’t separate coronavirus crisis and economy: Hilsenrath The Wall Street Journal global economics editor Jon Hilsenrath on the coronavirus pandemic’s impact on the economy. WASHINGTON — Orders to U.S. factories for big-ticket manufactured goods rose a stronger-than-expected 1.9% in September with a key category that tracks business investment showing a solid gain as well. Continue Reading Below The uptick in […]

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JGB yields edge lower on rising coronavirus cases

TOKYO, Oct 27 (Reuters) – Yields on Japanese government bonds slipped on Tuesday, as sentiment was weighed by uncertainty over U.S. stimulus talks and the global economic outlook due to a surge in coronavirus cases. Benchmark 10-year JGB futures rose 0.1 point to 152.03, with a trading volume of 13,091 lots, while the 10-year JGB yield fell half a basis […]

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GM, Toyota drive up auto production as economy rebounds

Advance Auto Parts CEO: Current fear of public transit leading to higher used car sales Advance Auto Parts CEO and President Tom Greco says the financial hit from the coronavirus has led many to buy used cars instead of new ones and are spending more on DIY auto repair. The coronavirus pandemic has fueled demand for cars and now some of […]

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