Business

Societe Generale is gearing up to launch the sale of its asset management arm Lyxor as the French lender seeks to shore up its finances after two consecutive quarterly losses, two sources familiar with the matter told Reuters.

Imposition of customs duty shall incentivise the domestic manufacturing of critical parts like Open cell in India, the source added.

The U.S. Commerce Department on Saturday announced a oneweek delay until Sept. 27 in an order issued Friday that was set to require Apple Inc and Alphabet Inc's Google to remove the TikTok app for download.

The European Union has agreed to buy a potential COVID19 vaccine from Sanofi and GSK in its second such deal to secure supplies, as a deadline for joining the World Health Organization's (WHO) vaccine purchase programme looms.

U.S. presidential candidate Joe Biden's recent warning that Britain must honor Northern Ireland's 1998 peace agreement to secure a U.S. trade deal adds new complexity to already tough trade talks between the United States and the U.K.

The European Union wants to raise more money to shore up its supplies of potential COVID19 vaccines after estimating that the number of shots available next year around the world might fall short of demand, two EU sources said.

In the pharmaceutical sector, top Indian firms Cipla and Lupin can expect notable gains owing to the fresh setback to Perrigo Company.

Oil prices drifted lower on Friday, pausing after three days of gains, as producers prepared to resume operations in the Gulf of Mexico and data showed Saudi Arabian exports rose from record lows.

The resurgence in coronavirus cases is the biggest threat to the recovering euro zone economy, according to a Reuters poll of economists, who say growth and inflation are more likely to create negative surprises over the coming year than positive ones.

Stocks closed lower Thursday after another slide in technology companies led a broad sell-off on Wall Street.

Wall Street's main indexes were poised to open lower on Thursday after data continued to show high levels of weekly jobless claims, adding to concerns about an economic rebound a day after the Federal Reserve issued an underwhelming stimulus plan.

South Korea's LG Chem, an electric car battery supplier for Tesla Inc and GM, said on Thursday it plans to separate its battery business as a new company in December.

Options investors are positioning for rising Treasury yields, as improving data and rising hopes for a COVID19 vaccine fuel bets on U.S. economic growth.

The Federal Reserve kept interest rates pinned near zero on Wednesday and promised to keep them there until inflation is on track to "moderately exceed" the U.S. central bank's 2% inflation target "for some time."

U.S. consumer spending slowed in August, with a key retail sales gauge unexpectedly declining, as extended unemployment benefits were cut for millions of Americans, offering more evidence that the economic recovery from the COVID19 recession was faltering...

Responding to a separate query with regard to 5G rollout, the minister said that 5G services have not been rolled out in the country as yet and the state-run telecom firms BSNL and MTNL have informed the government that they have not yet planned introduct...