It took months of tough talks for Argentina to reach agreement on restructuring $65 billion in debt. Now, economists and policymakers say, the real work begins: reviving Latin America's No. 3 economy from its currency and fiscal crises.
Business conditions in Germany's services sector rebounded into expansionary territory in July, led by recoveries in hospitality and other consumer services sectors that had been hit hard by coronavirus curbs, index provider Markit said.
The dollar remained weak on Wednesday as a U.S. coronavirus relief package stalled in Congress and U.S. bond yields sank, with investors weighing prospects of further monetary easing to support the economy.
Italian government bond yields hit five-month lows on Wednesday, after U.S. Treasury yields fell to new lows, indicating uncertainty about an economic recovery from coronavirus.
Alibaba Health Information Technology has raised nearly $1.3 billion in Hong Kong's largest follow-on share sale since 2015, and industry experts say this could prompt more firms to tap investors for cash in the Asian financial hub.
The dollar fell in Asia on Wednesday, hitting a five-month low on the yuan, as the latest coronavirus relief package stalled in Congress and U.S. yields sank on the prospect that further monetary easing might be needed to support the economy.
Oil prices fell for the first time in four days on Wednesday, slipping from as much as five-month highs as mounting coronavirus cases worldwide and in the United States undercut market confidence about a potential pickup in fuel demand.
Germany's Commerzbank, in the midst of a leadership crisis, on Wednesday said it expected to post a net loss for the full year after net profit declined 21% in the second quarter.
(RTTNews) - German insurance and asset management company Allianz SE (AZSEY.PK) reported Wednesday that its second-quarter net income attributable to shareholders decreased 28.6 percent to 1.53 billion euros from last year's 2.14 billion euros.
Indonesia's economy contracted for the first time in over two decades in the second quarter as efforts to contain the new coronavirus dealt a blow to consumer demand and business activity in Southeast Asia's largest economy.
Thailand's baht rose to a one-month high on Wednesday ahead of a central bank statement on interest rates that is expected to hold fire on further cuts and save its increasingly limited policy ammunition for later in the year.
U.S. Secretary of Health and Human Services Alex Azar will visit Taiwan in coming days, making the highest level visit by a U.S. official in four decades, his office said on Tuesday, in a move likely to anger China which claims the island as its own.
An editorial in a Chinese state newspaper on Wednesday sharply criticised Washington for what it termed an attempt to provoke an "all-out confrontation with China" over Chinese journalists' visas.
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