Business

Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood.

The economy shrank 3.4% in July-September from a year earlier, its fifth straight quarterly contraction, government advance estimates showed on Friday. That compared with a year-on-year contraction of 9.0% in April-June.

The German economy grew by a record 8.2% in the third quarter as Europe's largest economy partly recovered from its worstever recession caused by the COVID19 pandemic, data from the Federal Statistics Office showed on Friday.

Apple Inc will temporarily close 17 of its 20 stores in France from Oct. 30, as the country goes into a fresh onemonth lockdown due to a resurgence of coronavirus cases, the company's website showed.

Amazon.com Inc on Thursday forecast a jump in holiday sales and costs related to COVID19 as consumers continued to shop more online during the pandemic.

Technology companies helped drive stocks higher Thursday as Wall Street recouped some of its losses from a steep sell-off a day earlier.

The last four years have been good for stocks, with the S&P 500 climbing more than 50% and many 401(k) balances looking healthier, as President Donald Trump likes to point out so often.

The S&P 500 and the Nasdaq rose on Thursday after upbeat economic data eclipsed worries about surging coronavirus cases, while technology heavyweights found support ahead of quarterly earnings reports.

Credit Suisse on Thursday posted a steeperthanexpected slide in thirdquarter profit, as a surge in investment banking failed to offset a slowdown in wealth management and other headwinds it chalked up to exceptional circumstances.

Gold fell as much as 2% and silver nearly 6% on Wednesday as investors flocked to the dollar in the absence of signs of any imminent U.S. fiscal stimulus measures to ease the economic blow from the COVID19 pandemic.

Toyota is adding 1.5 million U.S. vehicles to a recall from early this year to fix fuel pumps that can fail and cause engines to stall.

The Bengaluru-based company also announced 'Environmental, Social and Governance (ESG) Vision for 2030' as part of its commitments focused across core areas of climate change, technology for good, diversity and inclusion, energising local communities, eth...

Shares around the world tumbled on Wednesday as coronavirus infections grew rapidly in Europe and the United States, igniting fears of possible strict lockdown measures that could damage already fragile economic recoveries.

Heineken NV performed better than expected over the JuneSeptember quarter with a surprising increase in beer sales in the Americas, but said the COVID19 pandemic was still too uncertain to provide a reliable 2020 outlook.

Gold prices steadied above the $1,900 mark on Wednesday as uncertainties about the U.S. elections and surging global COVID19 cases countered pressure from a firmer dollar and fading hopes of an immediate U.S. stimulus package.

Singapore expects its local unemployment rate to peak in the second half of this year but remain high in 2021 as the citystate plots a slow recovery from its coronavirus slump.