Markets

The outlook for a global economic recovery over the past month has worsened or at best stayed about the same, according to a firm majority of economists in Reuters polls, with the ongoing recession expected to be deeper than predicted only last month.

Oil prices rose in early trade on Friday, extending gains from the previous day on optimism about recovering fuel demand worldwide, despite surges in coronavirus infections in some U.S. states and indications of a revival in U.S. crude production.

German Finance Minister Olaf Scholz described as a scandal the collapse of Wirecard after the payments company disclosed a hole in its books that left it owing creditors almost US$4 billion, adding it was a wake-up call for supervision.

The chief executives of major U.S. airlines are set to hold a meeting Friday to discuss a range of coronavirus-travel issues, three people briefed on the matter said.

U.S. supermarket operator Albertsons Companies Inc on Thursday sold fewer shares than expected at a lower price than planned in its US$800 million initial public offering, according to people familiar with the matter.

NEW YORK: Verizon Communications Inc said on Thursday (Jun 25) it was pausing advertising on Facebook Inc following widespread support for a campaign that called out the social media giant for not doing enough to stop hate speech on its platforms. "We're pausing our advertising until Facebook can ......

LONDON: Huawei said on Thursday (Jun 25) it will invest $1.2 billion in a chip research and manufacturing centre in Britain that has been strongly opposed by the United States. The privately-held Chinese technology giant said it received planning permission in Cambridge, eastern England, to erect ...

NEW YORK: Wall Street stocks ended solidly higher on Thursday (Jun 25), winning back some of the prior session's losses with banking shares jumping on the easing of regulations imposed after the 2008 crisis. After a choppy session, the Dow Jones Industrial Average stood at 25,745.60, up 1.18 per ...

NEW YORK: Uber Technologies Inc's financial services head Peter Hazlehurst is stepping down as the company focuses on rides and food delivery, and ices plans to become a financial services company, Bloomberg News reported, citing an email to staff. Chief Executive Officer Dara Khosrowshahi said in ...

Despite its apparent simplicity, the accomplishments of carbon taxes over the last decade have been underwhelming, says an observer.