Markets

NEW YORK: The Nasdaq's six-day winning streak ended on Tuesday (May 12) as US stocks pulled back after a top government scientist warned against ending the coronavirus shutdowns and reopening the economy too quickly. The Dow Jones Industrial Average finished down 457.21 points (1.89 per cent) at ...

REUTERS: U.S. private equity firm KKR & Co Inc said on Tuesday it led an investor group making a US$43 million investment in Slice, an online delivery platform for local pizza shops across the country. KKR's investment comes amid a surge in demand for online shopping and delivery services...

Twitter Inc on Tuesday became the first major tech company to allow employees who can work remotely to do so indefinitely, as the coronavirus outbreak forces unprecedented changes in work culture across the world.

NEW DELHI: India's Prime Minister Narendra Modi unveiled on Tuesday (May 12) a stimulus package worth 10 per cent of the country's GDP to boost labourers and small businesses as the economy reels from the coronavirus pandemic and a weeks-long lockdown. The 20-trillion-rupee (US$266 billion) relief ...

BEIJING: The chief executive of Luckin Coffee, a chain rivalling Starbucks in China, and another top executive have been sacked in the wake of a massive fraud scandal that has rocked the company. Jenny Zhiya Qian, the CEO, and chief operating officer Liu Jian were terminated from their positions...

The United States on Tuesday reported a record US$738 billion budget deficit in April, as an explosion in government spending and a shrinking of revenues amid the novel coronavirus pandemic put it deeply into the red.

REUTERS: Waymo, the self-driving unit of Alphabet Inc, said on Tuesday it raised an additional US$750 million in its first external investment round, bringing the total funding to US$3 billion. T. Rowe Price Associates Inc, Perry Creek Capital and Fidelity Management & Research were among the ...

A group of 13 U.S. attorneys general asked Amazon.com on Tuesday to provide data on coronavirus-linked infections and deaths among its workforce, along with evidence of the company's compliance with paid sick leave laws.

A group of 13 U.S. attorneys general asked Amazon.com on Tuesday to provide data on infections and deaths among its workforce along with evidence of the company's compliance with paid sick leave laws amid the coronavirus crisis.

China is committed to its Phase 1 trade deal with the United States and is working towards meeting its promise to boost U.S. purchases, even though the pace of buying has been restrained by the coronavirus outbreak, three Chinese sources said.