Business

The dollar weakened and world stock markets rose on Monday on encouraging signs of progress in developing a COVID19 vaccine, while several multibillion dollar deals also help lift the spirit of investors after last week's downdraft.

Shares of Nvidia Corp rose 6% on Monday after it announced a $40 billion deal to buy UKbased chip designer Arm from Japan's SoftBank Group Corp that, if completed, would be the chip industry's biggest ever merger.

Shares of the cancer drug specialist Immunomedics more than doubled before the market opened Monday, a day after its sale to Gilead Sciences for $21 billion was announced.

Global oil demand in transportation sectors, with the exception of jet fuel, could return to prepandemic levels by the fourth quarter of 2021, draining excess supplies from the market, Vitol's Chief Executive Officer Russell Hardy said.

While the price of the yellow metal of 22 karat purity for 10 grams in Delhi is Rs 49,870. In Mumbai, 22 karat of 10 grams gold can be bought for Rs 49,460. The same metal quality is priced at Rs 50, 410 in Kolkata.

Johnson & Johnson's Janssen unit will begin midstage trials of its COVID19 vaccine in Spain on Monday, the programme's lead investigator said.

China issued new rules on Sunday to regulate financial holding companies, in its latest move to prevent systematic risks to the nation's vast financial sector.

The price for the yellow metal has gone up by Rs 1 per gram in India. For today, September 12, the gold price for 1 gram of 22 carat purity stand at Rs 4946, while 24 carats of 1 gram will cost a buyer Rs 5046 on Saturday.

The S&P 500 was largely flat in afternoon trading on Friday towards the end of another volatile week as investors weighed Oracle's strong results against data that suggested a long and wobbly economic revival from a coronavirusled downturn.

Global equities treaded water and U.S. government bonds edged higher on Friday as investors weighed betterthanexpected corporate earnings and increased M&A activity in Europe against political concerns ranging from the U.S. elections to Brexit.

Oil prices fell further on Friday and were on track for a second weekly drop after U.S. stock markets tumbled and U.S. stockpiles rose unexpectedly.

Dozens of emerging market funds have closed this year as turmoil unleashed by the coronavirus has damaged investor sentiment towards the asset class, where returns lag those of developed economies.

Global investors yanked almost $24 billion out of cash funds in the past week to redirect money into emerging markets, while slowing down on chasing summer winners, technology and gold, BofA's weekly fund flow statistics showed on Friday.

Rio Tinto's decision to part ways with its CEO and two senior executives reflects heightened investor concern over social issues and the loss of "social licence" to operate, governance groups and investors said.

U.S. stocks closed lower after a choppy trading session on Thursday as heavyweight techrelated stocks resumed their decline following a sharp rebound the previous session, while elevated jobless claims reminded investors of a stilldifficult recovery ahead...

Citigroup Inc named consumer banking head Jane Fraser as its next chief executive on Thursday, making her the first woman to lead a major Wall Street bank.