Business
U.S. Core Capital Goods Orders Rise; Recovery Uneven As COVID-19 Shifts Spending
New orders for key U.S.made capital goods increased in July, though the pace slowed from June's robust gain, suggesting the rebound in business investment would be gradual amid uncertainty about the course of the COVID19 pandemic.
Mexico's Economy Has Worst Quarter Since Great Depression
Mexico's economy in the second quarter declined the most since the Great Depression, despite partially recovering from the depths in June, as the coronavirus pandemic shuttered factories, kept shoppers and tourists at home and upended trade.
ArcelorMittal South Africa Declares Force Majeure After Blast Furnace Breakdown
Steel producer ArcelorMittal South Africa has declared force majeure after a breakdown of a blast furnace at its Newcastle Works in KwaZuluNatal province, it said on Wednesday.
Nasdaq Set To Open Higher After Salesforce, HP Enterprise Results
The techheavy Nasdaq was set to open slightly higher on Wednesday after upbeat business updates from Salesforce and HP Enterprise, while the S&P 500 headed for a subdued start.
UK Watchdog Says Mortgage Payment Holidays To End Oct. 31
Britain's Financial Conduct Authority (FCA) said it would end its current guidance on banks providing mortgage payment holidays on Oct. 31, but called on lenders to continue to support borrowers in difficulty after that date.
Vanguard To Close Hong Kong, Japan Operations
U.S. asset manager Vanguard Group said on Wednesday it will close its operations in Hong Kong and Japan and exit Hong Kong exchangetraded funds, citing unsupportive "industry dynamics".
Ant Group's Key Revenue Drivers As It Eyes $200 Billion Valuation
Ant Group, the Chinese financial technology giant backed by Alibaba Group, gave the public a first look at its financial health on Tuesday when its filed for a dual listing in Hong Kong and Shanghai in what is potentially the world's largest IPO.
Saudi's June Oil Exports Down $8.7 Billion
The value of Saudi Arabia's June oil exports was down 55% year on year, a drop of $8.7 billion, official data showed on Wednesday.
Republican Convention Touts Trump Trade Deals, Despite Mixed Results
Speakers at the Republican convention on Tuesday night touted President Donald Trump's "toughontrade" approach as a key argument for his reelection in November, although results have been mixed, especially with a key China deal.
Global Markets: Stocks Steady, Bonds Sold As Markets Turn To Jackson Hole
Bonds sold off and stocks took a breather on Wednesday as investors waited to hear from the Federal Reserve about its next moves to support the U.S. economic recovery, while oil jumped to a fivemonth peak as a hurricane disrupted output in the Gulf of Mex...
Gold Flat As Growth Risks Offset Trade Hopes; Powell Speech In Focus
Gold was little changed on Wednesday, as worries over global economic outlook offset pressure from signs of progress in U.S.China trade negotiations, while investors await a speech from U.S. Federal Reserve Chairman Jerome Powell.
J.M. Smucker, Amgen Rise; Tiffany, Best Buy Fall
Stocks that moved heavily or traded substantially Tuesday:
Oil Hits Five-month Highs As U.S. Producers Cut Output Ahead Of Hurricane
Crude oil prices rose to a fivemonth high on Tuesday as U.S. producers shut most offshore output in the Gulf of Mexico ahead of Hurricane Laura even as rising coronavirus cases in Asia and Europe capped gains.
Set Up GST Council Type Authorities for Land, Labour, Power to Drive Structural Reforms: RBI
It suggested that states can be encouraged to publicise the availability of litigation-free land in their jurisdictions with access to modern infrastructure.
Govt Relaxes Export Conditions for N95 Masks, Medical Coveralls
The DGFT has also removed export curbs on 2/3 ply surgical masks, and medical coveralls of all classes and categories.
Best Buy's 2Q Online Sales Surge But Challenges Remain
Best Buy Co. reported that online sales more than tripled in the fiscal second quarter, as shoppers bought computers, tablets and large appliances to help them cook, work and learn from home during the pandemic.