Business

The S&P 500 closed at a record high on Tuesday, rebounding from huge losses triggered by the coronavirus pandemic and crowning one of the most dramatic recoveries in the index's history.

Citigroup asked a U.S. judge on Tuesday to freeze funds it mistakenly sent Revlon Inc creditors amid a lawsuit over one of the largest clerical errors by a bank in years.

Vishwanathan, who was head of banking regulation, said the first need is to "divest" governance of the lenders from the government, and suggested doing away with the powers vested with the government under the bank nationalisation laws as a starter.

Walmart Inc posted its biggestever growth in online sales on Tuesday as shoppers cashed in stimulus checks and ordered everything from electronics and toys to groceries from the safety of their homes amid the COVID19 pandemic.

America's biggest office furniture manufacturers got the rug pulled out from under them by the COVID19 pandemic.

Oil prices steadied on Tuesday, hanging on to gains from the previous session thanks to high compliance with production cuts from members of the OPEC+ producer group.

Marks & Spencer will cut a further 7,000 jobs, it said on Tuesday, as the COVID19 crisis deals another blow to Britain's beleaguered retail sector.

Oil prices held onto most of their overnight gains on Tuesday after the OPEC+ producer grouping said members were almost fully complying with agreed output cuts to support prices amid a drop in demand for fuels due to the coronavirus pandemic.

An Indian court refused to allow the reopening of a south Indian copper smelter, local media reported on Tuesday, over two years after it was shut over pollution concerns.

China's CanSino Biologics said on Tuesday it had not started enrolling participants for a latestage trial of its potential COVID19 vaccine Ad5nCoV.

China said on Tuesday it has begun an antidumping probe into imports of Australian wine in a move that will likely worsen tensions between the two countries and knocked a fifth off the share price of Australia's biggest winemaker.

Carnival Corp said on Monday it launched an investigation after the cruise operator detected a ransomware attack that accessed and encrypted a portion of information technology systems of one of its brands.

The Nasdaq surged to an alltime high on Monday, while the S&P 500 approached its own record level, with both indexes lifted by Nvidia and other technology stocks.

Diageo is paying up to $610 million for Aviation American Gin, coowned by Hollywood actor Ryan Reynolds, and a clutch of other spirits brands, adding to a gin portfolio which already includes Tanqueray and Gordon's.

Singapore's finance minister on Monday unveiled more economic support measures worth about S$8 billion ($5.8 billion) to cushion the blow from the COVID19 pandemic on businesses and workers.

Sanofi SA is to buy U.S.based Principia Biopharma Inc for around $3.7 billion, the companies announced on Monday, marking the French healthcare company's latest acquisition in the biotech sector.