Business

Unemployment in Australia will peak at about 10% as a result of restrictions designed to slow the spread of the novel coronavirus, Prime Minister Scott Morrison said on Thursday.

Oil prices were unchanged on Thursday, struggling to hold onto fivemonth highs reached in the previous session, as fuel demand worries caused by a second wave of coronavirus infections outweighed declines in the U.S. dollar.

U.S. services industry activity gained momentum in July as new orders jumped to a record high, but hiring declined, supporting views that the labor market recovery was faltering amid a resurgence in new COVID19 infections across the country.

Gold soared to a record high on Wednesday as a weakening dollar, falling returns on U.S. bonds and a break above historic resistance at $2,000 an ounce added momentum to buying by investors seeking a safe store of value.

Israelbased Teva Pharmaceutical Industries reported a slightly smallerthanexpected fall in secondquarter profit on Wednesday, as higher profitability in North America partially offset lower profit margins in Europe.

Euro zone business activity returned to modest growth in July as some curbs imposed to stop the spread of the coronavirus were lifted, but the rebound in the bloc's dominant service industry was not as sharp as expected, a survey showed.

Denmark's Copenhagen Airports is considering laying off 650 staff to cope with a global aviation sector standstill as a result of the coronavirus crisis.

Britain's Metro Bank swung to a 240 million pounds ($313.92 million) loss for the first half of the year on Wednesday, as provisions to cover loan losses due to the coronavirus crisis wiped out its profits.

Malaysia's palm oil inventories at endJuly likely plunged 11.94% from June to threeyear lows, as production slumped due to a worsening labour shortage amid the coronavirus outbreak.

U.S. prosecutors are pursuing possible penalties of nearly $13 billion (9.95 billion pounds) to resolve investigations of OxyContin maker Purdue Pharma after uncovering evidence of criminal and civil misconduct stemming from the company's alleged role in...

Safehaven gold scaled an alltime peak on Wednesday, extending a record run above the $2,000 mark on a weaker dollar and bets for more stimulus measures to revive a pandemicravaged economy.

Japan's services sector contracted for a sixth straight month in July, suggesting economic activity remained under pressure from the coronavirus crisis as the third quarter got under way.

Oil prices fell for the first time in four days on Wednesday, pulling back from as much as fivemonth highs as mounting coronavirus cases worldwide and in the United States undercut market confidence in a pickup in fuel demand.

Gold prices hit an alltime high on Tuesday after a top U.S. Senate Democratic leader said that Democrats and the White House were closer to an agreement on the stimulus bill to help the virushit economy.

On a summer's evening, the streets of central London echoed to what has become a rare sound during the coronavirus pandemic: the chatter and laughter of diners seated at terrace tables.

Ralph Lauren Corp said on Tuesday its quarterly revenue plunged by nearly $1 billion, as it struggled with coronavirusled store closures and a slowdown in demand for luxury goods across the world.