Business

Siemens Healthineers plans a twostep capital increase to raise 7.5 billion euros ($8.80 billion) via share placements to help finance its acquisition of Varian Medical Systems , sources close to the matter said on Monday.

U.S. manufacturing activity accelerated to its highest level in nearly 11/2 years in July as orders increased despite a resurgence in new COVID19 infections, which is raising fears about the sustainability of a budding economic recovery.

Volkswagen's Czech carmaker Skoda Auto named Volkswagen's South Africa boss Thomas Schaefer as its new chairman on Monday as part of a wider shakeup at the German autos group.

World stocks and the dollar rallied after a cautious European morning as thin summer trading led to sharp swings in the market, and worries about U.S. gridlock over the next round of coronavirus aid eased.

Gold hit a record high on Monday as fears over the economic fallout from rising coronavirus cases bolstered its safehaven appeal, before inching lower as an uptick in the dollar fuelled some profittaking.

The board of Czech carmaker Skoda Auto, part of the Volkswagen Group , has chosen Thomas Schaefer, currently Volkswagen's head in South Africa, as its chairman, Skoda said on Monday.

Manufacturing activity across the euro zone expanded for the first time since early 2019 last month as demand rebounded after more easing of the restrictions imposed to quell the spread of the new coronavirus, a survey showed on Monday.

Heineken said on Monday it had witnessed a gradual recovery of its business since the low of April, remaining uncertainty over COVID19 containment measures left it unable to give a forecast for the rest of the year.

Asian share markets turned mixed on Monday as U.S. lawmakers struggled to hammer out a new stimulus plan amid a global surge of new coronavirus cases, though a squeeze on crowded short positions left the dollar clinging to a tentative bounce.

The BSE Sensex was trading 303.74 points or 0.81 per cent lower at 37,303.15; while the NSE Nifty was down 77.15 points or 0.70 per cent at 10,996.30.

German health group Siemens Healthineers said on Sunday it was buying U.S cancer treatment device maker Varian Medical Systems Inc for $16.4 billion, giving it a foothold in the oncology sector.

The Tehran Stock Exchange’s benchmark TEDPIX index gained 46,844 points in early trading, the official IRNA news agency said, up 2.4%.

Two thirds of British businesses say they are now "fully operational" after the coronavirus lockdown, up from half in June, according to a survey on Sunday.

Most money managers are wary of cutting equity exposure too drastically in a market that has rallied more than 40% since late March and stands near all-time highs despite widespread economic devastation and a global coronavirus pandemic.

The case for direct financing is made on the argument that government borrowing this year has ballooned way beyond normal, Subbaro said.

The overall reserves had swelled by $1.275 billion to $517.637 billion in the previous reporting week.