Business

Casino operator Las Vegas Sands Corp is exploring a sale of its flagship casinos in Las Vegas for about $6 billion, a source told Reuters on Monday, with the move likely to mark the exit of the group's chairman from the U.S. gambling industry for now.

Tiffany & Co has received all regulatory approvals needed for the completion of its $16 billion (12.29 billion pounds) acquisition by French luxury goods group LVMH, the U.S. jeweler said on Monday after it received a nod from the European Commission.

Sales of new U.S. singlefamily homes unexpectedly fell in September after four straight monthly increases, but the housing market remains supported by record low mortgage rates and demand for more room as the COVID19 pandemic drags on.

The details of the deal which has not yet been finalised could be announced within few days, Bloomberg reported, citing people familiar with the matter.

Pfizer Inc said on Friday it could file in late November for U.S. authorization of the COVID19 vaccine it is developing, suggesting that a vaccine could potentially be available in the United States by the end of the year.

The economy is projected to contract by a massive 10.3 per cent this year, according to an IMF forecast. Even the Reserve Bank of India expects the economy to shrink by 9.5 per cent in the current financial year.

Gold steadied on Friday as the dollar eased but was still set for its first weekly loss in three as doubts over a U.S. stimulus agreement before next month's presidential election dented demand for the metal as an inflation hedge.

Australia's ties with top trade partner China soured in 2018 when it became the first country to publicly ban China's Huawei [HWT.UL] from its 5G network, and worsened after Canberra called for an enquiry into the origins of the coronavirus.

Global shares dropped on Thursday as investors shied from risk and sought safehavens such as the U.S. dollar on fears that a resurgence in coronavirus cases and a lack of more U.S. fiscal stimulus would hobble the world economy.

Asian markets were off to a mixed start on Thursday as hopes of U.S. fiscal stimulus before the presidential election faded and a record number of new coronavirus infections in parts of Europe propelled investors toward safehavens such as gold.

Infosys is also giving 100 per cent variable pay, along with a special incentive for the second quarter.

U.S. wholesale prices jumped 0.4% in September as food costs rose by the largest amount since May.

Ford Motor Co said on Tuesday it was moving production of its plugin Escape sport utility vehicle to next year as it reviews its vehicles with the same engine and battery parts that were recalled in Europe.

President Xi Jinping promised Wednesday new steps to back development of China's biggest tech center, Shenzhen, amid a feud with Washington that has disrupted access to U.S. technology and is fueling ambitions to create Chinese providers.

Indian shares fell on Wednesday after the International Monetary Fund cut its economic growth forecast for the country for the second time in nearly four months, while Wipro's quarterly profit miss also weighed on sentiment.