Thursday, November 26, 2020
Business

Business

Global shares mostly rise after Wall Street’s pause

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Global shares were mostly higher Thursday, although Wall Street had taken a pause from the market optimism underlined in a record-setting climb earlier in the week.

Stocks mostly fall, even as tech gains push Nasdaq to record

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Stocks closed mostly lower on Wall Street Wednesday, even as gains for technology companies pushed the Nasdaq to its first record high close since September.

Picture of US economy is worrisome as virus inflicts damage

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Gripped by the accelerating viral outbreak, the U.S. economy is under pressure from persistent layoffs, diminished income and nervous consumers, whose spending is needed to drive a recovery from the pandemic.

Asian shares mostly rise after Dow crests 30,000 points

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Asian shares mostly rose Wednesday after the Dow Jones Industrial Average closed above 30,000 points for the first time despite an ongoing pandemic, as progress in development of coronavirus vaccines kept investors in a buying mood.

Dow crests 30,000 points on vaccine hopes, Biden transition

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The Dow Jones Industrial Average traded above 30,000 points for the first time Tuesday as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.

Restaurant workers out of work again as virus surges anew

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Waiters and bartenders are being thrown out of work – again – as governors and local officials shut down indoor dining and drinking establishments to combat the nationwide surge in coronavirus infections that is overwhelming hospitals and dashing hopes for a quick economic recovery.

OxyContin maker Purdue Pharma pleads guilty in criminal case

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Purdue Pharma pleaded guilty Tuesday to three criminal charges, formally taking responsibility for its part in an opioid epidemic that has contributed to hundreds of thousands of deaths but also angering critics who want to see individuals held accountable, in addition to the company.

Netflix to expand production hub in New Mexico

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Netflix plans to establish one of the largest production hubs in North America with an expansion of its existing studio complex in New Mexico and a commitment to an additional $1 billion in production spending, government and corporate leaders announced Monday.

Stocks edge higher on Wall Street on latest vaccine hopes

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U.S. stocks edged higher in morning trading Monday after investors received several pieces of encouraging news on COVID-19 vaccines and treatments, tempering concerns over rising virus cases and business restrictions.

GM to recall 7M vehicles globally to replace Takata air bags

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The U.S. is making General Motors recall and repair nearly 6 million big pickup trucks and SUVs equipped with potentially dangerous Takata air bag inflators.

Asian stocks rise ahead of US economic data amid virus fears

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Asian stocks rose Monday as investors looked ahead to quarterly U.S. economic data amid unease about anti-coronavirus curbs on business and wrangling over the American presidential election.

UK Treasury chief shows no sign of turning off spending taps

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The U.K’s treasury chief batted away speculation Sunday that he is about to turn off the spending that has buoyed the economy during the COVID-19 pandemic, saying now is not the time to worry about the government’s record peacetime borrowing.

US-European ocean monitoring satellite launches into orbit

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A U.S.-European satellite designed to extend a decades-long measurement of global sea surface heights was launched into Earth orbit from California on Saturday.

US, Taiwan step up economic cooperation in new dialogue

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The U.S. and Taiwan are stepping up cooperation in a newly created economic dialogue, in another move from the outgoing Trump administration to increase official exchanges with the self-ruled island.

Mnuchin rejects renewal of some Fed emergency loan programs

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Treasury Secretary Steven Mnuchin said he will not extend several emergency loan programs set up with the Federal Reserve, an action that could hamper the ability of the incoming Biden administration to gain important economic support from the central bank to deal with the ongoing pandemic.

Trending in Business

OxyContin maker Purdue Pharma pleads guilty in criminal case

0
Purdue Pharma pleaded guilty Tuesday to three criminal charges, formally taking responsibility for its part in an opioid epidemic that has contributed to hundreds of thousands of deaths but also angering critics who want to see individuals held accountable, in addition to the company.