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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.
Read MoreChinese stocks to watch as competition with foreign brands heats up 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.
Read MoreBritish retail sales recover weakly in December, borrowing jumps
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.
Read MoreIraq Cuts Annual Crude Oil Supplies for Most Indian Refiners up to 20% this year
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.
Read Morecrude Oil Rises On Inauguration Day As Markets Eye Big Stimulus Act
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.
Read Moreu.s. Treasury yields rise ahead of Yellen’s Senate confirmation hearing
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.
Read Moreaccording to EURASIA GROUP Natural gas prices in Asia may have peaked after recent highs