Business

Britain is on course to suffer the biggest increase in redundancies in a generation in the second half of 2020, based on layoff notifications by employers hit by the coronavirus shock to the economy, a think tank said on Monday.

U.S. graphics chip maker Nvidia said it plans to buy U.K.based Arm Holdings in a deal worth up to $40 billion, in a move that would create a global industry powerhouse.

Australia on Monday proposed offering incentives worth A$2.3 billion ($1.67 billion) over 10 years to keep the country's four remaining oil refineries open and said it would invest in building fuel storage as part of a longterm fuel security plan.

The Nasdaq slid and the S&P 500 closed little changed on Friday as early gains in technology and growth names faded, with each of the three major Wall Street averages posting their second straight weekly decline.

Oil prices were little changed on Friday, but posted their second straight weekly loss as stockpiles rise around the world and fuel demand struggles to rebound to precoronavirus levels.

Life and general insurer Aviva is offloading its Singapore business to a consortium led by Singapore Life, for S$2.7 billion ($1.98 billion), as the Londonlisted firm sharpens its focus on Britain, Ireland and Canada.

Global equities and U.S. government bonds edged higher Friday as investors weighed betterthanexpected corporate earnings and increased M&A activity in Europe against political concerns ranging from November's U.S. elections to Brexit.

A rebound in Tesla Inc shares was set to extend into a third straight session on Friday, recouping more of a record 21% drop earlier this week that wiped $80 billion off the electriccar maker's market capitalization.

Oil prices fell for a second day on Friday, as a surprise rise in U.S. stockpiles hit sentiment already undermined with the coronavirus pandemic continuing to erode demand for fuels.

Britain's economy grew for a third month in a row as the country tried to recover from its coronavirus lockdown crash, official data showed on Friday.

Jane Fraser made history on Thursday when she became the first female global bank chief executive, a role she will take up next year when Citigroup Inc's current CEO Michael Corbat will step down.

Stocks that moved heavily or traded substantially Thursday:

The United States plans to end enhanced health screening of travelers from certain countries next week, and those visitors will no longer be funneled through 15 large U.S. airports.

BP entered the offshore wind market on Thursday with a $1.1 billion deal to buy 50% stakes in two U.S. developments from Norway's Equinor, a significant step by the oil firm towards its energy transition goals.

Chinese firms Joyoung and Gree Electric are among those eyeing the domestic appliances business of Dutch conglomerate Philips' in a deal worth up to 3 billion euros ($3.6 billion), people with knowledge of the matter said.

Australian superannuation fund Hesta has become the latest investor to voice dissatisfaction over the findings of Rio Tinto's boardled review into how the iron ore miner legally detonated historically significant Aboriginal rockshelters.