Business

Wall Street's main indexes jumped on Wednesday on hopes of at least a partial deal on more fiscal stimulus after U.S. President Donald Trump abruptly called off negotiations on a comprehensive bill in the previous session.

Shares in major U.S. airlines were poised for gains Wednesday after President Donald Trump tweeted his support for relief package for the struggling industry and prodded Congress to take action.

Asian stock markets edged higher on Wednesday, brushing off Wall Street's weaker finish, which came after U.S. President Donald Trump abruptly broke off economic stimulus negotiations with lawmakers.

Argentina tempted wary investors with a dollarlinked bond on Tuesday, issuing around $1.8 billion of the instrument it hopes will help bolster the peso amid a domestic currency crisis, stringent capital controls and tumbling foreign reserves.

Democratic lawmakers are calling for Congress to rein in Big Tech, possibly forcing Facebook, Google, Amazon and Apple to sever their dominant platforms from their other lines of business and imposing new uniformity on the terms they offer users.

German automaker Daimler will cut fixed costs, capex and R&D spending at MercedesBenz by more than 20% by 2025 as part of a strategy overhaul to take the brand further upmarket.

Strong financial support from the government and the Federal Reserve have spurred a solid recovery from the pandemic recession, but the rebound may falter without further aid, Fed Chair Jerome Powell warned Tuesday.

The European Commission is exploring using auctions to sell bonds as it prepares to ramp up debt issuance to finance the European Union's postpandemic recovery programmes, the EU Commissioner for Budget and Administration said on Tuesday.

They, however, added that there will not be any immediate impact on the policy given the current high levels of inflation, and the panel will go for a "dovish hold" with unchanged rates and accommodative stance at the upcoming review.

The world's top central bankers have opened the taps with trillions of dollars in promised credit to prevent a global pandemic from causing a global economic depression.

The number of loan applications received during the period grew by 12 per cent over the quarter a year ago while individual loan approvals grew by 9 per cent compared to the year-ago period, it said.

Graphics chip maker Nvidia said Monday it plans to build Britain's fastest supercomputer that healthcare researchers can use to work on medical problems including COVID19.

Oil prices rose on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive coronavirus test sparked widespread alarm.

If Round One of the coronavirus relief effort was the economic equivalent of "shock and awe," new plans being developed by the world's biggest economies for more assistance to businesses and consumers are taking a narrower and more tactical approach.

A mass rollout of a COVID19 vaccine in Britain could be finished in as little as three months, the Times reported, citing government scientists.

Oil prices fell more than 4% on Friday, and posted a second weekly decline after U.S. President Donald Trump tested positive for COVID19, roiling risky assets, and as rising global crude output threatened to overwhelm the market's weak recovery.