Business

Bharti Enterprises currently owns 51 per cent stake in Bharti AXA General Insurance, while French insurer AXA has 49 per cent.

The S&P 500 and Nasdaq closed at record highs on Friday, as data pointed to some pockets of strength in the U.S. economy.

Major indexes managed to eke out gains on Wall Street Thursday, even as most stocks fell following data showing an increase in the number of Americans who applied for unemployment aid last week.

Americans made tentative moves back to restaurants and gyms over the past week, hiring advanced across a sample of industries and a rise in job postings suggested it may continue, signs the U.S. recovery grinds along, albeit not without some setbacks.

Oil fell more than 1% on Thursday after Reuters reported OPEC+ needed to address daily oversupply of more than 2 million barrels, and the number of U.S. unemployment benefit claims rose unexpectedly, signalling a slow economic recovery.

Prosecutors in Stuttgart, Germany, have dropped a market manipulation probe against Volkswagen's chairman in exchange for a 1.5 million euros payment, parent company Porsche Automobil Holding SE said on Thursday.

The government will provide its latest snapshot Thursday of the pace of layoffs in the United States, which have declined steadily but remain stuck at a high level with the economy still in the grip of the viral pandemic that erupted in March.

South African miner Impala Platinum (Implats) on Thursday flagged a more than 300% surge in annual earnings, boosted by an increase in metals prices and a weaker rand currency.

Oil prices fell on Thursday as major producers warned of a risk to demand recovery if the coronavirus crisis is prolonged, while U.S. crude inventories dropped less than expected.

The Fed on Wednesday warned the economic downturn triggered by the COVID-19 pandemic faces a highly uncertain path and reiterated the need for additional fiscal stimulus.

Australia's Qantas Airways Ltd said state border closures were severely hampering a recovery in the domestic aviation market, which, alongside its lack of international flying, would lead to a significant loss this financial year.

Airbnb on Wednesday filed preliminary paperwork for selling stock on Wall Street, undaunted by a global pandemic that has taken some wind out of its home-sharing business.

Roche is adding its manufacturing muscle and global development expertise to Regeneron's bid to create an antibody cocktail for COVID19 that the Swiss and U.S. companies hope can be used to slow the pandemic.

Gold dipped below $2,000 an ounce on Wednesday partly in response to a pause in the dollar's slide as investors awaited more details on the U.S. Federal Reserve's strategy to revive the pandemichit U.S. economy.

Asia will likely import record volumes of liquefied petroleum gas (LPG) in 2020 as firms snap up the fuel to make petrochemicals used in protective gear against the coronavirus, while households under lockdown ramped up purchases for cooking.

Oil prices eased on Wednesday on concerns that U.S. fuel demand may not recover as quickly as expected amid stalled talks on an economic stimulus package, overshadowing a biggerthanexpected drawdown in U.S. crude stocks.