Market News

The German economy shrank more than expected in the first quarter as the coronavirus related restrictions motivated households to put more money than ever into savings, showed data on Tuesday.

Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3.5 month low. It dragged down with it other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.

Renewable energy grew at its fastest pace in the last two decades, 2020 was led by China and shall continue to grow in the next two years, showed a report by the International Energy Agency (IEA) on Tuesday.

The Bank of England (BOE) slowed the pace of its trillion Dollar stimulus program and is expecting a faster recovery but still stressed about tightening the monetary policy.

US President Joe Biden proposed a $1.8 trillion package for families and education in his first joint speech to Congress on Wednesday. He stressed the need to invest to compete…

German Constitutional court decided to dismiss legal challenges against the European Union’s recovery plan, which helps with the stimulus being rolled out across the region. In late March, the highest court in Germany had a number of questions with regards to the EU’s plan to raise €750 billion through financial markets.

Bitcoin has been increasing in price to reach record highs, in anticipation to Wednesday’s IPO of crypto exchange Coinbase

Germany’s public sector deficit reached €189.2 billion in 2020 due to the coronavirus pandemic. This was the first deficit since 2013 and the highest budget shortfall since the German reunification three decades ago, according to the Statistics Office.

Early last week Ever Given, a 400-meter-long vessel leased by Evergreen Line had become jammed diagonally across the southern section of the Suez Canal, due to high winds.

Eurozone business activity unexpectedly grew this month according to a preliminary survey despite most of Europe is suffering from a third wave of coronavirus infections and renewed lockdown measures.

Federal Reserve officials wrapped up a two-day policy meeting on Wednesday. The Federal Reserve repeated its pledge to keep its target interest rate near zero for years to come after projecting a rapid jump in U.S. economic growth and inflation this year, as the COVID-19 crisis lessens.

In a meeting on Thursday the European Central Bank said that it was ready to accelerate money-printing to keep a lid on eurozone borrowing costs.