Business

Gold jumped 1% on Thursday, as the dollar weakened after the European Central Bank kept its policy unchanged and U.S. jobless claims held at high levels, dimming hopes of a quick economic recovery from the effects of the coronavirus pandemic.

Reliance had crossed USD 150 billion market capitalisation on June 19, 2020, meaning it has added around USD 60 billion in investor value in less than 60 market days.

The risk of a "nodeal" Brexit has increased since Britain presented new legislation that would undercut its divorce treaty with the European Union, angering the bloc and undermining trade talks.

The number of Americans filing new claims for unemployment benefits hovered at high levels last week, suggesting the labor market recovery from the COVID19 pandemic was stalling.

Gold steadied near a oneweek high on Thursday, buoyed by a slight retreat in the dollar, as investors awaited a policy decision by the European Central Bank.

The market valuation of Reliance Industries jumped Rs 37,782.85 crore to Rs 14,07,886.65 crore in morning trade on the BSE.

Stock markets rose on Thursday, but without the spring of Wall Street's tech rebound as Asia's investors trod carefully, while the euro crept higher as currency traders stood by for a crucial European Central Bank meeting later in the day.

Tiffany & Co sued LVMH on Wednesday after the French luxury goods giant told the U.S. jeweler it could not complete a $16 billion deal to acquire it because of a French government request and the impact of the coronavirus outbreak.

Asian markets are expected to swing higher on Thursday, after U.S. stocks reversed course from a threeday losing streak that led the technologyheavy Nasdaq into correction territory.

The EPFO had earlier planned to liquidate some of its investment in exchange traded funds to meet the deficit for providing 8.5 per cent interest for the last fiscal.

Oil futures clawed back some of the losses they sustained in the previous session, but a rebound in COVID19 cases in some countries undermined hopes for a steady recovery in global demand.

Oil futures fell again on Wednesday after a sharp slide in the previous session, as a rebound in COVID19 cases in some countries undermined hopes for a steady recovery in global demand.

Silver Lake Partners, will invest Rs 7500 crore in the retail arm of Reliance Industries Ltd. The investment will give Silver Lake a 1.75 per cent stake in Reliance Retail.

The investment by Silver Lake values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore, RIL said in an exchange filing.

Gold prices were steady on Wednesday as the metal was caught between a strengthening U.S. dollar and a pullback in global equities, with investors awaiting monetary policy strategies from central banks.

Swedish payments firm Klarna is in talks with investors for a new round of funding which would value it at more than $10 billion, three sources said, as it attempts to expand its business in the United States.