E-commerce and social media have shaken up the retail industry and raised the stakes for companies trying to sell to the increasingly price-conscious China’s consumer. Locals often choose foreign brands for better quality and design, even if it means paying a higher price or facing difficulties buying the products in China.
Apple is planning to release a new lighter and thinner MacBook Air that will launch in the second half of 2021 or early 2022, according to Bloomberg. The report said Apple will plan to market the device as a higher-end version of the current MacBook Air, which Apple released in November with its new M1 processor.
UK retailers struggled to recover in December from a partial Covid-19 lockdown the previous month, marking a weak end to their worst year on record, while public debt climbed to its highest since 1962, official data showed today.
Iraq has reduced annual supplies of Basra crude oil to several Indian refiners by up to 20% for 2021, industry sources said, in a rare move by OPEC’s second-largest producer which is trying to meet its obligations under the group’s production deal.
On Wednesday crude oil prices rose for a second consecutive day, as the market expects the incoming U.S. Administration to “act big” in the next COVID relief package. As of 9:17 a.m. ET on Wednesday, which is Inauguration Day for President-elect Joe Biden.
On Tuesday U.S. Treasury yields climbed, as traders watched for comments from Treasury Secretary nominee Janet Yellen, who is expected to speak in front of the Senate Finance Committee later in the day.
Last week prices of natural gas in Asia hit a record high and will likely go down from here, according to political risk consultancy Eurasia Group. “We’ve heard single cargos indeed sell in the high $30s, I heard one at $39 [per million British thermal units],” said Henning Gloystein, director of energy, climate and resources at Eurasia.