Business

The Trump administration will purchase 150 million rapid coronavirus tests from Abbott Laboratories for about $750 million, a White House spokeswoman said on Thursday.

A gauge of world equity markets climbed while the dollar and gold prices eased on Thursday after the Federal Reserve said it would roll out an aggressive new strategy that aims to boost employment and allow inflation to run faster than in the past.

Oil prices fell on Thursday as a massive hurricane in the Gulf of Mexico made landfall in the heart of the U.S. oil industry, forcing oil rigs and refineries to shut down.

The number of Americans filing new claims for unemployment benefits hovered around 1 million last week, suggesting the labor market recovery was stalling as the COVID19 pandemic drags on and financial aid from the government dries up.

The energy industry braced for catastrophic storm surges and winds as Hurricane Laura cut a dangerous path across the coastlines of Texas and Louisiana, making landfall early Thursday.

Austrian oilfield equipment producer SchoellerBleckmann (SBO) said on Thursday it cut jobs in the United States and secured new loans to navigate through the pandemic after bookings contracted 42% in the first half of 2020.

Asian shares touched twoyear peaks on Thursday in the wake of Wall Street's record run as cheap cash drove up bigcap tech darlings, although SinoU.S. tensions caused caution to creep in as the session progressed.

A discussion about the negotiations over Britain and the European Union's postBrexit relationship has been dropped from the agenda of a meeting of EU envoys next week because the talks have stalled, an EU diplomat said on Wednesday.

The former U.S. ambassador to Singapore said he had resigned from the board of a firm in the citystate linked to a group bidding for English soccer club Newcastle United citing "recent revelations" about the group.

Gold fell on Wednesday as the dollar strengthened, with investors awaiting U.S. Federal Reserve Chairman Jerome Powell's speech for monetary strategy cues, but worries over the pandemicravaged global economy kept prices above the $1,900 mark.

Salesforce.com Inc on Tuesday raised its annual revenue forecast and beat estimates for quarterly results on coronavirusspurred demand for its online business software that supports remote work and commerce, sending its shares up nearly 15%.

The euro rose on betterthanexpected German business morale data on Tuesday while global equity markets gained, with the S&P 500 and Nasdaq setting new closing highs, after a phone call cooled a recent flareup in U.S.China trade tensions.

An Alaska state lawmaker who was involved in a July midair collision that killed seven people was piloting his plane even though his medical flight certification was denied eight years ago because of vision problems, a federal agency reported Tuesday.

However, the global rating agency, in a statement, said it has downgraded SBI's Baseline Credit Assessment (BCA) and adjusted BCA to 'ba2' from 'ba1' on account of concern on asset quality due to moratorium.

U.S. consumer confidence dropped to a more than sixyear low in August as households worried about the labor market and incomes, casting doubts on the sustainability of the economy's recovery from the COVID19 pandemic.

The The actions were taken against regulated entities for non-compliance of various regulations, said the RBI said in its annual report.