Competition authorities in Italy are investigating the cloud storage services run by Apple, Dropbox, and Google, CNBC reported. The Italian Competition and Market Authority has reportedly launched a total of six investigations into Google Drive, the iCloud and DropBox, after several complaints for unfair practices. The complaints involve how the …

The European stock markets showed a strong rebound on Monday, opening the week with high gains after two consecutive losses that were driven by a slump in the tech sector. The pan-continental STOXX Europe 600 index closed higher by 1.6%, while the UK’s FTSE100 surged by 2.39%. In Germany, the …

The Dollar Index (DXY) is maintaining its recent rising trend on Monday, with the US Dollar (USD) showing a strong performance across the board. The DXY, which measures the performance of the USD against a basket of six major international currencies, is up by 0.25% for the day at 92.95, …

The New York Stock Exchange (NYSE) finished the week with large losses on Friday’s session, with tech stocks leading the decline and the market seeing strong selling pressures. The Dow Jones Industrial Average declined by 159.42 points or 0.56%, closing at 28,133.31 points, down by 1.8% for the week. The …

Oil prices closed lower on Friday, amid mixed expectations for demand recovery, and a rise for the USD, which decline was seen a support factor for crude prices. Brent crude futures for November delivery settled lower by $1.41, or 3.2%, at $42.66 per barrel, raising its weekly decline to 6.9%. …

The United States Federal Reserve issued on Friday a corrected version of its recent stress test results, which were initially published in June 2020. According to the new recalculated results, Goldman Sachs and Morgan Stanley will see lower capital requirements, Reuters reported, as the errors led to miscalculated assumed losses …

Gold prices declined on Friday for the third consecutive day, turning to weekly losses. Gold futures for December delivery closed lower by $3.50, or 0.2%, at $1,934.30 per ounce. This is the lowest closing level for the yellow metal futures since August 27, logging a 2.1% weekly decrease. Meanwhile, silver …

The British economy may need extra stimulus in order to face the effects of the COVID-19 crisis, said member of the Bank of England’s (BoE) Monetary Policy Committee, Michael Saunders, Reuters reported. “I consider it quite likely that additional monetary easing will be appropriate in order to achieve a sustained …

European stocks closed lower on Friday, erasing earlier gains and turning to losses for the week, due to huge losses by tech stocks in Wall Street. The pan-European Stoxx 600 index finished lower by 1.1%, registering weekly losses of 1.9%. The UK’s FTSE100 lost 0.88% for the day and recorded …

The Trump administration has reached an agreement with the US Congress to provide funding for the federal government after the end of the month, avoiding a government shutdown, Vice President Mike Pence reportedly told CNBC on Friday. “The agreement reached this week by the Treasury secretary and our negotiation team …