Zambia's attempt to force Copperbelt Energy Corp (CEC) to open up its infrastructure to other power producers has dented the country's image as an investment destination, the Chamber of Mines said on Friday.
Consumer stocks were higher during Friday's premarket trading as shares of the consumer discretionary firms (XLY) added more than 2%, while shares of staples companies in the S&P 500 (XLP) were up more than 7%.
WeWork will invest $100 million in its Indian business as the office-sharing startup looks to work its way through the ongoing coronavirus crisis, which has hit its business and kept people indoors for months.
(RTTNews) - German stocks were sharply higher on Friday after the European Central Bank increased its emergency bond purchase scheme by a bigger-than-expected 600 billion euros to 1.35 trillion, fueling hopes of a faster economic recovery.
OPEC and its allies led by Russia meet on Saturday to discuss extending record oil production cuts and to approve a new approach that aims to force laggards such as Iraq and Nigeria to comply better with the existing curbs.
European shares resumed their rally on Friday as a bumper stimulus from the European Central Bank fuelled hopes of a faster economic recovery, putting the main benchmarks on course for their best week in two months.
State Bank of India (SBI), the country's largest lender by assets, reported a more than four-fold jump in profit for the fourth quarter on Friday, driven by a one-time gain from a stake sale in its credit card unit.
Investors pumped a record $32.5 billion into corporate bond funds last week, Bank of America said on Friday, encouraged by the U.S. Federal Reserve's bond buying programme and on optimism about economies opening-up after two months of lockdown.
Fund administrator Link Fund Solutions said it will sell up to 19 healthcare assets in the LF Equity Income fund formerly run by Neil Woodford for 223.9 million pounds ($284 million) to Acacia Research Corp as it seeks to recoup cash for investors.
Britain's markets watchdog has banned contingent charging from October after lawmakers criticised financial advisers for ripping off steelworkers facing critical decisions about their pensions.
World stocks held their ground near three-month highs as the euro hit its highest level since March 10, thanks to Europe's stimulus boost, fuelling hopes for a global rebound.
The pound rose to a new three-month high against the dollar in early trading on Friday and was set for its biggest weekly gain since the end of March, due to the Bank of England playing down the prospect of negative rates soon, and dollar weakness.
ByteDance, owner of the global hit short-video app TikTok, has shut down its artificial-intelligence-based news aggregator TopBuzz, one of the company’s earliest products aimed at the global stage.
The Bank of Japan is likely to maintain its projection that the economy will gradually recover in the latter half of this year, four sources familiar with its thinking said, heightening the chance it will forgo bold monetary easing steps at this month's rate review.
A federal court has ordered Commonwealth Bank of Australia to pay a A$5 million ($3.49 million) penalty for overcharging customers and underpaying interest on one of its financial products, the country's corporate regulator said.
Japan's largest advertising agency, Dentsu Group Corp, has evacuated its Tokyo headquarters after getting a bomb threat, an internal company email reviewed by Reuters showed on Friday.
The euro jumped to a three-month high on Friday after the European Central Bank expanded its stimulus more than expected to prop up an economy dealing with its worst recession since World War Two.
Indian drugmaker Sun Pharmaceutical Industries Ltd said on Friday it was testing a plant-derived drug, AQCH, for the potential treatment of COVID-19 as part of a mid-stage trial, with results expected by October.
Reuters
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