Friday showed U.S. retail sales fell for a third straight month in December amid job losses and renewed measures to slow the spread of COVID-19, further evidence that the economy lost speed at the end of 2020. However, the dollar rose against a number of currencies. With cases and deaths continuing to rise around the world and uncertainty reigns the dollar could continue its return as a safe-haven currency.
Google has finalized its purchase of Fitbit while facing multiple investigations. State attorneys general are planning a third lawsuit against Alphabet Inc’s Google, the latest one focused on the search and advertising giant’s Play Store for Android phones.
President-elect Joe Biden has announced a $1.9 trillion stimulus plan to help the US recover from the economic damage wrought by the pandemic. Though fears, cases, and deaths remain high the lead up to Biden’s inauguration could see optimism as hopes of economic stability rise.
OPEC left its 2021 forecast for crude demand growth unchanged on expectations of an economic recovery. Though this prediction can and likely will be updated, the current strength could crumble in the face of widespread lockdowns in countries like Canada and the UK restricting people’s movement.
According to full-year GDP data released on Thursday, Germany’s economy contracted by 5% in 2020. Other countries in the EU showed similar reductions towards the end of the week. Higher case numbers in the zone could put a strain on the currency.
|IBM announced an agreement to acquire Taos, a leading cloud professional and managed services provider. Audi UK turned to IBM iX, the business design arm of IBM Global Business Services, to help it reimagine its customers’ digital journey from initial inquiry to ownership.|
||Facebook Inc’s WhatsApp is delaying the rollout of new business features following user backlash over the company’s data-sharing practices. Consumers transitioned away from the messaging platform in droves.|
|Netflix Inc. had a record-setting first half of the year, but the encore may not receive stellar reviews.
When Netflix reports fourth-quarter earnings Tuesday, investors will be keenly trained on net paid subscription additions, after the amid heightened competition from Disney+, Apple TV+, Amazon’s Prime Video, and more.