Business

Four of China's five largest stateowned banks said they have increased their provisions against bad debt to brace for future losses due to the impact of the global coronavirus pandemic.

Global equity markets rose to a new high on Friday as U.S. consumer spending in July suggested a strong economic rebound lies ahead, while the Japanese yen surged on safehaven buying after Prime Minister Shinzo Abe resigned for health reasons.

The S&P 500 rallied for the seventh straight session on Friday, powered by tech stocks, prospects of superlow interest rates for a prolonged period and hopes of a medical solution to the COVID19 pandemic.

U.S. consumer spending increased more than expected in July, boosting expectations for a sharp rebound in economic growth in the third quarter, though momentum is likely to ebb as the COVID19 pandemic lingers and money from the government runs out.

India was among the countries which were recognised by the now-rescinded report as having shown the most notable improvement in Doing Business 2020.

Amazon, the company that made shopping from a LaZBoy possible, is going into the fitnesstracking business.

The S&P 500 hovered near record level on Thursday as a rally in technology stocks lost steam, weakening the momentum gained from the Federal Reserve's plan to allow inflation in a bid to lift the U.S. economy out of a deep pandemicdriven recession.

When asked why he excludes the possibility of doing something in finance, Puri said finance and technology are now the same.

The company is in talks with the Indian regulatory authorities concerned to plan and initiate next steps towards conducting human trials, Premas Biotech said in a statement.

Small business staffing, shifts worked at industries and job openings posted by companies continued a sluggish performance over the past week, evidence that the pandemic's core wound to the U.S. labor market continues to heal only slowly.

Germany's Continental, the world's thirdbiggest auto parts supplier, played a big part in the Nazi's armaments and war economy, using forced labourers to make products such as gas masks, a study presented by the company showed on Thursday.

Stocks fell on Thursday and the dollar was up after two days of losses, as investors looked ahead to the U.S. Federal Reserve Chair's speech at the virtual Jackson Hole conference, at which he could signal tolerance for higher inflation.

Oil prices were broadly stable on Thursday as a massive hurricane in the Gulf of Mexico made landfall in the heart of the U.S. oil industry, forcing oil rigs and refineries to shut down.

India's banking sector needs reforms in terms of governance culture and risk management practices, Reserve Bank of India (RBI) Governor Shaktikanta Das warned on Thursday.

Gold prices fell on Thursday, following a sharp rise in the previous session, as investors squared positions ahead of a muchawaited speech from U.S. Federal Reserve Chairman Jerome Powell.

Air New Zealand Ltd plans to draw on a NZ$900 million ($596.34 million) government loan within days to help it weather the coronavirus pandemic after on Thursday reporting its first annual loss in almost two decades.