Business

Britain's unemployment rate rose for the first time since the coronavirus lockdown began in March but official data published on Tuesday also showed a less severe fall in employment than feared.

Asian equities extended gains on Tuesday and the dollar slipped, with investor sentiment supported by Chinese data and optimism about COVID19 vaccines.

U.S. oil output from seven major shale formations is expected to decline by about 68,000 barrels per day (bpd) in October to 7.64 million bpd, the U.S. Energy Information Administration (EIA) said in its monthly productivity report on Monday.

Verizon, the country's largest phone company, is buying prepaid phone seller Tracfone for up to $6.9 billion, expanding its low-income customer business.

Inflation in food articles during August stood at 3.84 per cent, led by vegetables and pulses at 7.03 per cent and 9.86 per cent, respectively; while in egg, meat and fish it was 6.23 per cent.

Europe's largest economy is set to continue recovering from the coronavirus crisis in the remainder of 2020 and will likely grow strongly in the third quarter but it probably will not reach its precrisis level until 2022, the German Economy Ministry said.

Asian shares firmed on Monday on renewed hopes for a coronavirus vaccine after AstraZeneca resumed its phase3 trial though sentiment was still cautious ahead of a big week of central bank meetings in UK, Japan and the United States.

Gold prices were flat on Monday as investors maintained a cautious approach ahead of U.S. Federal Reserve's monetary policy decision this week and as optimism around a potential COVID19 vaccine lifted appetite for riskier assets.

Energy producers and communities along the U.S. Gulf Coast organized evacuations of residents and offshore workers on Sunday as they prepared for the second hurricane strike in less than a month.

Tanzania and Uganda signed an agreement on Sunday paving the way for the construction of a crude oil pipeline running from Ugandan oilfields to the Tanzanian port of Tanga, a Tanzanian government spokesman said.

As COVID19 grounds swaths of airline fleets, companies that profit off the dismantling and trade of aircraft parts are seeing early signs of an expected rebound in activity as carriers accelerate plane retirements.

The criminal trial against Japanese automaker Nissan and its former executive Greg Kelly will open in Tokyo District Court on Tuesday. Its the latest chapter in the unfolding scandal of Carlos Ghosn, a superstar at Nissan Motor Co. until he and Kelly were...

The coronavirus pandemic has pushed the U.S. federal budget deficit above $3 trillion for the first 11 months of fiscal 2020, more than doubling the previous fullyear record, the U.S. Treasury said on Friday.

Benchmark U.S. crude oil for October delivery rose 3 cents to $37.33 a barrel Friday. Brent crude oil for November delivery dropped 23 cents to $39.83 a barrel.

Oil prices edged higher on Friday as equities markets firmed, but crude remained on track for a second weekly drop as investors expected a global glut to persist if demand weakens further with rising COVID19 cases in some countries.

Oil prices were steady on Friday, but were on track for a second weekly fall after U.S. stock markets tumbled and U.S. stockpiles rose unexpectedly.