Business

Investors stormed into riskier assets last week, pumping $27 billion into equity funds as positive COVID19 vaccine updates led to euphoric buying of shares in worsthit sectors such as banks, travel and leisure, and oil, BofA said on Friday.

Indian shares retreated from record highs on Thursday as expanding coronavirus restrictions in the United States dampened investor sentiment globally, countering optimism around positive vaccine trial results.

Nvidia Corp shares declined nearly 3% on Wednesday after company executives said data center chip sales would fall slightly in the fourth quarter.

Iraq and Saudi Arabia opened the Arar border crossing for trade for the first time in three decades, the Iraqi border ports commission said on Wednesday.

British insurance group RSA is backing a 7.2 billion pound ($9.55 billion) cash offer from Canada's Intact Financial and Denmark's Tryg in one of Europe's biggest financial takeover bids this year.

Denmark's Prime Minister Mette Frederiksen on Wednesday faced opposition calls to resign after her agriculture minister stepped down over an illegal order by the government to cull the country's farmed mink.

Global shares edged higher and the dollar perked up on Wednesday as further positive COVID19 vaccine news more than offset concerns around the stubbornly high global infection rate.

Greenpeace on Wednesday asked a court to block the 3.4 billion euros ($4 billion) of state aid granted to the Dutch arm of Air FranceKLM, arguing the government had failed to force the ailing airline to make its business more sustainable.

Oman is discussing a loan of at least $1 billion with a group of banks, sources said, as the oilproducing Gulf state seeks more funding ahead of heavy debt redemptions over the next two years.

The U.S. Food and Drug Administration said on Tuesday it had approved the first COVID19 selftesting kit for home use that provides results within 30 minutes.

Electric vehicles (EVs), benefiting globally from a push for tighter emissions controls, are facing challenges after a global string of fires from overheating batteries.

Insurers are trying to escape liability for pandemicrelated business losses with counterintuitive arguments that go against the essential purpose of insurance, Britain's markets watchdog told the UK Supreme Court on Tuesday.

Walmart turned out another stellar quarter as the worlds largest retailer powers through a pandemic that has felled other national chains.

Gold inched lower on Tuesday as optimism over an effective COVID19 vaccine offset concerns facing its eventual rollout, a subdued dollar and bets for further monetary support as infections surged in Europe and the United States.

Americans being stuck at home has led to an explosive year for Home Depot and is latest quarter is no exception.

Many EU governments oppose common rules on the use of rapid COVID19 tests, an internal document seen by Reuters says, in a new blow to airlines which are betting on fasttrack testing to help bring the travel industry back to life.