Business

U.S. stocks surged on Wednesday, pushing the S&P 500 to its fourth straight record closing high, as investors stayed focused on largecap momentum stocks that have outperformed since the onset of the coronavirus pandemic.

Real estate developers had been asking for a reduction in stamp duty following the lockdown to encourage homebuyers to buy properties during the pandemic.

President Donald Trump could take executive action to avoid massive layoffs at U.S. airlines, while the coronavirus pandemic weighs on air travel and talks on a new COVID19 stimulus bill remain stalled in Congress, White House Chief of Staff Mark Meadows...

Oil edged up towards $46 a barrel on Wednesday, close to its highest since March, lifted by U.S. producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a drop in U.S. crude inventories.

According to the report, six coastal states - Gujarat, Maharashtra, Tamil Nadu, Odisha, Karnataka and Kerala - feature in the top ten rankings.

German coalition parties agreed on Tuesday to extend measures to cushion the effects of the coronavirus crisis on Europe's biggest economy at a cost of up to 10 billion euros, including prolonging a shorttime work scheme and freezing insolvency rules.

The European Union is offering only partial protection to vaccine makers against legal risks from sideeffects of their potential COVID19 shots, European officials said, in a move that is hampering deals and contrasts with U.S. policy.

Private equity firm Triton on Wednesday announced a 3.9 billion crown ($445 million) cash bid for IT consultancy firm HiQ International, a 25% premium to the company's closing price on Tuesday.

In a notice seen by PTI, the regulator has asked Vodafone Idea to "show cause" by August 31, "as to why appropriate action should not be initiated against it for violating the extant regulatory framework by its RedX tariff plan".

Asian stocks eased from a twoyear high on Wednesday, as a mixed bag of economic data had investors a touch more circumspect about the global recovery, while oil jumped to a fivemonth peak owing to a hurricane disrupting output in the Gulf of Mexico.

The balance sheet of the Reserve Bank plays a critical role in the functioning of the country's economy.

Presenting data on frauds involving Rs 1 lakh and above, RBI said a total of 8,707 frauds were detected during 2019-20 involving an amount of Rs 1,85,644 crore.

Medtronic Plc beat analysts' estimates for quarterly profit on Tuesday, and forecast improving demand for its medical devices in the back half of the year as patients catch up on procedures deferred during coronavirusinduced lockdowns.

The April-July period typically sees around 25 per cent more work execution in terms of person-days under the scheme compared to the rest of the year, thereby aiding rural income.

Medical device maker Medtronic beat analysts' estimates for quarterly profit on Tuesday, benefiting from a surge in demand for ventilators and as elective surgeries picked up pace following the easing of COVID19 restrictions.

Crude oil prices rose on Tuesday, supported by production cuts in the U.S. Gulf Coast as Tropical Storm Laura was forecast to become a major hurricane, while rising coronavirus cases in Asia and Europe capped gains.