Business

Oil prices climbed more than 5% on Monday after U.S. President Donald Trump said he will leave the hospital where he is being treated for COVID19, while six Norwegian offshore oil and gas fields were shut as more workers joined a strike.

Starting off on a high note, the 30share BSE gauge zoomed to the day's peak at 39,263.85, before ceding some ground to settle at 38,973.70, up 276.65 points or 0.71 per cent.

France's Engie appointed an oil services executive to execute its strategy of refocusing the utility on renewable energy and grids, overlooking the internal candidate behind its new green strategy.

U.S. employment growth slowed more than expected in September and over 300,000 Americans lost their jobs permanently, dealing a potential blow to President Donald Trump ahead of the fiercely contested Nov. 3 presidential election.

Noble Energy shareholders on Friday approved a deal to sell the oil and gas producer to Chevron Corp, making Chevron the No. 2 U.S. shale oil producer and giving it international natural gas reserves close to growing markets.

The Tokyo Stock Exchange (TSE) resumed normal trading on Friday, with the main index holding steady a day after the worstever outage brought the world's thirdlargest equity market to a standstill.

Oil prices fell nearly 1% on Friday, extending losses into a second day as rising production of crude comes amid a worsening COVID19 pandemic which threatens to bring more restrictions on movement and consumption that will likely hit demand for fuel.

The shareholders rejected the resolution for appointment of Gurbaxani as MD and CEO at the 93rd Annual General Meeting of the bank held on September 30.

U.S. airlines began furloughing more than 32,000 employees on Thursday after a federal prohibition on job cuts expired.

Business events and economic reports scheduled for the coming week.

The investment brings the aggregate investment by Silver Lake and its co-investors in Reliance Retail to Rs 9,375 crore, which will translate into a 2.13 per cent equity stake.

Shareholders voted out Managing Director (MD) and CEO Sunil Gurbaxani at the annual general meeting (AGM) on September 30, said industry officials.

U.S. electric car maker Tesla cut the starting price of its Chinesemade Model 3 sedans on Thursday by about 8% to 249,900 yuan ($36,805), once Chinese subsidies for electric vehicles are taken into account, according to its China website.

The Trump administration has proposed including a $20 billion extension in aid for the battered airline industry in a new stimulus proposal to House Democrats worth over $1.5 trillion, White House chief of staff Mark Meadows said on Wednesday.

American Airlines said it would begin furloughs of 19,000 workers on Thursday, and a large union said other carriers would follow, as hopes faded for a lastminute bailout from Washington.

Japan should keep selling government bonds to the central bank to pay for the cost of reflating the economy out of a pandemicinduced slump, an academic close to new Prime Minister Yoshihide Suga said.