Markets

Bar and restaurant owners in Texas and Florida were fuming on Friday after state officials abruptly slapped new restrictions on their businesses due to a spike in new COVID-19 cases.

NEW YORK: Wall Street stocks sank on Friday (Jun 26) as surging coronavirus cases prompted large US states to impose new public health restrictions, threatening the economic recovery following widespread business shutdowns. The Dow Jones Industrial Average plunged 2.84 per cent, or 730.05 points ...

ON MAY 26, the New York Times reported that the US Justice Department had dropped investigations into three US senators' stock trades conducted shortly after they had been privately briefed on the novel coronavirus in January. The politicians had dumped millions of dollars of shares in Exxon...

ISLAMABAD: Pakistan's national airline is taking heavy flak after it emerged that nearly a third of its pilots were holding fake or dubious licences, with some observers wondering if the struggling national carrier can survive the scandal. Pakistan International Airlines (PIA) this week said it ...

General Motors Co on Friday asked a U.S. appeals court to allow it to continue pursuing its civil racketeering suit against rival Fiat Chrysler Automobiles NV , rejecting a lower court judge's belittling of the complaint.

Wall Street's major indexes tumbled more than 2per cent on Friday as several U.S. states imposed business restrictions in response to a surge in coronavirus cases.

Facebook Inc said on Friday it will start labeling newsworthy content that violates the social media company's policies, and label all posts and ads about voting with links to authoritative information, including those from politicians.

THE HAGUE: Consumer giant Unilever, home to brands including Ben and Jerry's and Marmite, said on Friday (Jun 26) it will stop advertising on Facebook, Twitter and Instagram in the US until the end of 2020 due to the "polarized election period" there. The Anglo-Dutch firm is the largest...

Shares of U.S. banks dropped on Friday, with Wells Fargo's stock falling more than 6per cent and Goldman Sachs Group Inc down 7per cent, after the Federal Reserve capped dividend payments and barred share buybacks until at least the fourth quarter after its annual stress test.

Unilever PLC said on Friday it will stop advertising on Facebook, Instagram and Twitter in the United States for the rest of the year, citing "divisiveness and hate speech during this polarized election period in the U.S."