Economic News
ByteDance launches mobile payment service Duoyin Pay
Beijing-based ByteDance launched its third-party payment service Douyin Pay on Tuesday as part of its foray into the e-commerce space in China.
US Covid-19 infections drop sharply
The number of new novel coronavirus infections in the US dropped sharply at the start of the week.
German inflation weighed down by VAT cut
Inflation rose only marginally in Germany across 2020, weighed down by the temporary reduction in sales tax and a slump energy prices, official data confirmed on Tuesday.
German investor sentiment improves in January
German investor sentiment improved more than expected in January despite the Covid-19 crisis, according to the latest survey from the ZEW Center for European Economic Research in Mannheim.
LME set to close its doors for first time since WWII
One of the last remaining open-outcry trading floors in the world may soon shut its doors for good.
One third of people have cash payments refused due to pandemic
One in three people have had payments refused and have been unable to pay in cash since the start of the pandemic, shows Which?.
CBI calls for furlough scheme to be extended
The Confederation of British Industry has called on the chancellor to extend the furlough scheme, warning that companies had been hit hard by the latest round of lockdown restrictions.
US needs to 'act big' to counter Covid impact on economy - Yellen
The US needs to take "act big" to counter the economic impact of the Covid-19 pandemic, Treasury Secretary nominee Janet Yellen was expected to say at her Senate confirmation hearing later on Tuesday,.