Business

U.S. employment growth slowed considerably in July, underscoring an urgent need for additional government aid as a resurgence of COVID19 infections threatens to snuff out the nascent economic recovery.

President Trump is broadly prohibiting unspecified transactions with Chinese owners of TikTok and WeChat via executive order in 45 days.

The idea came up during a discussion with Nobel laureate and Grameen Bank founder Mohammed Yunus of Bangladesh, and will be confirmed after discussions with the Finance Ministry and the 'highest authority', he said.

Iraq said on Friday it would cut its oil production by another 400,000 barrels per day in both August and September to compensate for its overproduction in the past three months.

China's economy appeared to be gathering pace in July as exports rose the most this year while some raw material imports hit record highs, adding to hopes for a more sustained recovery.

Gold steadied near a record high on Friday as the dollar regained ground as a hedge against another escalation in U.S.China tensions, but concerns over a worsening pandemic kept bullion on track for its longest weekly gain in nearly a decade.

Blackstonebacked Mindspace Business Parks' shares rose as much as 11.71% in their market debut on Friday, showing investor confidence in the real estate sector even as many Indians work from home due to the COIVD19 pandemic.

Japan's household spending fell at a much slower pace in June than in the previous month as the economy reopened from lockdown measures to contain the coronavirus pandemic, offering some hope of a moderate recovery later this year.

Singapore's secondlargest lender OverseaChinese Banking Corp reported a largerthanexpected 40% tumble in quarterly net profit on Friday, hurt by loanloss provisions in a pandemichit market and a slowdown in customer activity.

Deutsche Bank said on Thursday it had revised up its GDP forecasts for 2020, noting that recovery from the coronavirusinduced plunge in economic activity was progressing faster than it had earlier expected.

Glencore said on Thursday it was scrapping its dividend to focus on lowering debt as the COVID19 pandemic forced it to book a $3.2 billion impairment charge.

Online wine seller Naked Wines said on Thursday it expects total sales in July to rise 73% from a year earlier and that it has seen continued strong rates of new customer growth.

Oil prices slipped just below fivemonth highs on Thursday, with support from a weak dollar and falling U.S. crude inventories undermined by bearish sentiment about fuel demand.

Lufthansa does not expect air travel demand to return to precoronavirus crisis levels until at least 2024, as the German airline posted a 1.7 billion euro quarterly operating loss.

AstraZeneca PLC has signed an exclusive framework agreement with China's Shenzhen Kangtai Biological Products to supply its COVID19 vaccine candidate in mainland China, the British pharmaceutical giant said on Thursday.

Germany's Lufthansa said it does not expect air travel demand to return to precrisis levels before 2024 and posted a secondquarter loss of 1.5 billion euros ($1.78 billion) as cost cuts failed to offset a steep decline in revenue.