Business

Norwegian Air has asked an Irish court to oversee a restructuring of its massive debt as it seeks to stave off collapse amid the coronavirus pandemic, the budget airline said on Wednesday.

U.S. homebuilding increased more than expected in October, suggesting the housing market continues to be sustained by record low mortgage rates even as the economic recovery shows signs of strain amid a resurgence in new COVID19 infections.

Home construction rose 4.9% in October as home building remains as one of the bright spots of the economy.

Danish renewable energy group Ørsted and North America's Building Trades Unions (NABTU) announced on Wednesday a deal to train an offshore wind construction workforce to build the firm's pipeline of projects down the U.S. East Coast.

The worlds biggest shipping company, Denmarks A.P. MollerMaersk, said Wednesday that global container volumes increased by around 1% in the third quarter, a faster rebound than expected earlier in the year. However, global demand for containers is expecte...

Gold inched up and moved in a narrow range on Wednesday, as investors weighed the prospects of a COVID19 vaccine against concerns over rising cases and the possibility of further economic support from the U.S. Federal Reserve.

Stocks that moved heavily or traded substantially Tuesday:

Norwegianowned cruiseship operator SeaDream Yacht Club has cancelled all sailing for the remainder of 2020 after positive COVID19 test results onboard one of its cruises, it said on Tuesday, dealing a fresh blow to the cruise industry.

Tobacco company Imperial Brands forecast better profits for 2021 on Tuesday, helped by expected improvements in its ecigarette business, which declined dramatically in 2020.

Tobacco company Imperial Brands reported higher fullyear sales on Tuesday, as demand for tobacco offset a drop in its ecigarette business.

Saudi Aramco began marketing a fivetranche U.S. dollardenominated bond sale on Tuesday, a document from one of the banks arranging the deal showed.

Warren Buffett's company has trimmed its huge stake in Apple and added new investments in several drugmakers while tweaking several other holdings in its stock portfolio.

Ministers from AsiaPacific countries on Tuesday said free, fair and nondiscriminatory trade practices were key to economic recovery during the coronavirus pandemic.

Gold recovered from a more than 1% dip on Monday as investors weighed immediate concerns over rising coronavirus cases and bets on further economic support even as Moderna became the second drugmaker to declare effective vaccine test results.

Aon has sought EU antitrust approval for its $30 billion bid for Willis Towers, with the EU watchdog setting a Dec. 21 deadline for its decision, a filing on the European Commission website showed on Monday.

OPEC and its allies discussed weaker compliance with pledged oil output cuts on Monday and weighed further action to support the market as the second wave of coronavirus hits demand.