Archive

US GDP Contracts 4.8% in Q1, Steepest Decline Since 2008

  The New Zealand dollar gained against the greenback after Statistics New Zealand reported an increase in trade surplus in March, compared to the earlier month. The Kiwi dollar’s uptrend was also aided by news of US economic contraction in

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China Approves 224 Distributed Ledger Tech Projects

  The cryptocurrency market has turned bullish with Bitcoin (BTC) moving closer to $10,000 once again. Crypto market participants are hopeful that the numero uno crypto by market cap will decouple from the traditional market this time and break above

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3M Beats on Q1 Earnings, Cost Cutting to Save $400mln in Q2

  Health care and consumer goods company 3M Co (NYSE: MMM) reported better-than-anticipated first-quarter earnings, while withdrawing its previously issued FY 2020 profit outlook and slashing its capital expenditure plans amid the uncertainty caused by the Covid-19 outbreak. The stock

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Swiss Franc Weakens as Risk Appetite Increases

  The Swiss Franc remains range-bound with a slight bullish bias against the greenback as investors are unwinding their long positions in both the currencies as the Forex market participants believe that the spread of the Covid-19 disease is slowing

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Chinese Companies Rule Blockchain Patent Filing List

  The cryptocurrency market remains mixed with Bitcoin (BTC) in the positive region, while other altcoins trading in negative zone. At the time of trying this article Bitcoin was trading at $7,703, up 0.3% in the past 24 hours. Ether

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American Express Posts Mixed Q1 Results, Profit Dips 76%

  American Express Co (NYSE: AXP) posted first-quarter earnings that declined from last year. While the Q1 earnings beat estimates, revenue missed analysts’ views. Following the release of first-quarter results, the stock closed at $83.17, up $0.71 or 0.86% from

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Eli Lilly Beats On Q1 Earnings, Boosts FY 2020 Profit View

  Pharmaceutical company Eli Lilly and Co. (NYSE: LLY) posted a 66% drop in first-quarter earnings, compared with last year. The earnings mirror the gain realized on the divestment of Elanco Animal Health in the year-ago period. However, quarterly revenue

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Turkish Central Bank Announces Deep Rate Cut of 100bps

  The Turkish Lira lost ground against the greenback after the country’s central bank slashed its benchmark interest rate by a deep 100 basis points to negate the negative impact on the economy from the COVID-19 outbreak. In the past

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Argentine Banks to Use Blockchain for Tracking Payments

  The cryptocurrency market has turned positive with Bitcoin (BTC) closing above $7,000 once again. In the past 24 hours, Bitcoin has gained 3.8% to trade at $7,136.13. Similarly, Ether (ETH) has gained 7.4% to trade at $184.79. XRP has

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Disney to Save Costs by Stop Paying 100k Employees

  Entertainment company Walt Disney Co (NYSE: DIS) revealed that it is discontinuing payment for over 100,000 employees, representing nearly half of its workforce, in an effort to preserve capital in the ongoing COVID-19 lockdown scenario. In other news, UBS

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