Business

The European Commission said on Friday it had reached a deal with British pharmaceutical firm AstraZeneca for the purchase of at least 300 million doses of its potential COVID19 vaccine.

According to data from Association of Mutual Funds in India, the number of folios with 45 fund houses rose to 9,21,05,737 at the end of last month, from 9,15,42,092 at June-end, registering a gain of 5.63 lakh folios.

Russian statecontrolled diamond producer Alrosa said on Friday that its secondquarter net profit fell by 98% year on year to 300 million roubles ($4 million) as the novel coronavirus outbreak hit demand for precious stones.

Asian bonds recorded a second straight month of foreign inflows in July bolstered by a hunt for higher yields and signs of recovery in the regional economies.

However, fuel and power basket inflation fell 9.84 per cent in July, compared to 13.60 per cent in the previous month. Manufactured products, however, witness.

Japan's economy will contract more than previously expected and suffer mild deflation during the current fiscal year, analysts predict, underscoring the fragile nature of the recovery from the devastating coronavirus pandemic.

The Philippine unit of Royal Dutch Shell said on Thursday it will permanently shut one of the country's two oil refineries, blaming a pandemicled slump in margins, with other regional closures likely to follow, according to analysts.

World stocks' return to record highs looked set to be delayed for another day on Thursday as a stalemate in U.S. stimulus talks, trade war angst in both Europe and China, and the COVID19 pandemic all held back the bulls.

China hopes the United States will stop taking restrictive and discriminatory action against Chinese firms and create conditions for the implementation of a Phase 1 trade deal, Assistant Minister of Commerce Ren Hongbin said on Thursday.

China plans to merge domestic broker First Capital Securities with smaller rival Capital Securities, three sources said, underscoring Beijing's determination to consolidate the brokerage industry to take on the giants of Wall Street.

Danish brewer Carlsberg said on Thursday it expects organic operating profit to decline 10%15% this year as lockdowns will impact sales in the second half of the year in its key markets of China and Western Europe.

Stocks that moved heavily or traded substantially Wednesday.

Lyft Inc said on Wednesday cost cuts put the company on track to reach its goal of becoming profitable on an adjusted basis by the end of 2021, even as its secondquarter revenue tumbled 61%.

The S&P 500 traded above its record closing high on Wednesday in a broad rally led by tech stocks.

U.S. consumer prices rose more than expected in July, with a measure of underlying inflation increasing by the most in 291/2 years amid broad gains in the costs of goods and services.

Gold recovered after dipping below the key $1,900 level at one point on Wednesday and registering its worst fall in seven years in the last session as bleak economic data underscored concerns over a pandemicled slowdown.