Business

German biotech firm BioNTech said on Tuesday it had secured almost $450 million in government funding to speed up work on its COVID19 vaccine candidate and expand its production capacity in Germany.

Shares in Fiat Chrysler (FCA) rose sharply in Milan on Tuesday after the car maker and French partner PSA revised the terms of their merger deal, with FCA's shareholders getting a smaller cash payout but a stake in another business.

Forex traders said news related to coronavirus vaccine and sustained foreign fund inflows aided to positive sentiment.

Gold prices rose on Tuesday as the dollar remained subdued, with investors turning their focus to a U.S. Federal Reserve monetary policy meeting, seeking details of its plans on inflation targeting.

China Evergrande New Energy Vehicle Group Ltd said on Tuesday investors including Tencent Holdings Ltd and Sequoia Capital will buy HK$4 billion ($516.12 million) worth of company shares in a share sale.

Europe's largest economy is set to continue recovering from the coronavirus crisis in the remainder of 2020 and will likely grow strongly in the third quarter but it probably will not reach its precrisis level until 2022, the German Economy Ministry said.

Also, the government has revised the definition of MSME units to allow more enterprises to avail the benefits and removed ceiling on credit for loans to MSMEs in the services sector.

Novartis's Beovu matched Regeneron's Eylea in vision clarity scores for a blindnesscausing eye disease, the Swiss drugmaker said on Monday, after early safety stumbles for the medicine in another condition caused disappointing early sales.

Oil prices slipped on Monday amid concerns about a stalled global economic recovery and falling fuel demand, as Libya signalled it would end its monthslong blockade and resume output, adding yet more supply to the market.

Computer graphics chip company Nvidia said it plans to buy Britain's Arm Holdings for $40 billion, in a merger of two leading chipmakers.

Global equities treaded water and U.S. government bonds edged higher on Friday as investors weighed betterthanexpected corporate earnings and increased M&A activity in Europe against political concerns ranging from the U.S. elections to Brexit.

U.S. stocks rose in choppy trading on Friday, at the end of another volatile week as Oracle delivered solid quarterly results while data suggested a gradual pace of economic revival from the coronavirusled downturn.

Gold edged lower on Friday on a lack of any further stimulus from the European Central Bank and the U.S. government, but the safehaven commodity was set to end the week higher on concerns over an economic recovery.

Oil prices fell further on Friday and were on track for a second weekly fall after U.S. stock markets tumbled and U.S. stockpiles rose unexpectedly.

The sharp expansion of U.S. actions to hobble Chinese firms in recent weeks has sparked a rush by global lenders to pare back exposure to the companies and to identify others that may become caught in Washington's crosshairs, banking sources said.

Citigroup Inc on Thursday named consumer banking head Jane Fraser as the bank's next chief executive officer, making her the first woman to lead a major Wall Street bank.