Business

World shares inched higher led by Europe on Monday, after last week's rout in U.S. technology stocks that saw $2.3 trillion in value wiped off in two days with investors taking note of lofty valuations when the global economy is still in a recession.

Ireland's gross domestic product fell by 6.1% quarteronquarter from April to June, as the large multinational sector sheltered the national accounts from the worst of the COVID19 crisis and brought about a shallower recession than most of the euro zone.

Asian shares struggled for traction on Monday after two straight sessions of losses as investors grappled with skyhigh valuations at a time when the global economy is in a coronavirusinduced recession while oil prices dropped sharply.

A look at some of the key business events and economic indicators upcoming this week:

Argentina's economy is likely to contract 12% in 2020 due to the effects of the COVID19 pandemic, a central bank survey of economists showed on Friday, a slightly more positive outlook than a month earlier.

The drugmaker is carrying out tests in the United States and Belgium, and has added Chile, Argentina and Peru to a list of Latin American countries where it plans to conduct Phase III trials along with Brazil, Colombia and Mexico.

Virgin Atlantic announced 1,150 more job cuts on Friday due to the coronavirus crisis, saying its 1.2 billion pound ($1.6 billion) rescue deal alone was not enough to secure its future.

Mortgage lender HDFC Ltd on Friday said it will raise up to Rs 5,000 crore by issuing bonds on private placement basis. The issue size is of Rs 2,000 crore, with an option to retain oversubscription of Rs 3,000 crore, HDFC said in a regulatory filing.

Srei Equipment Finance Limited (SEFL) on Friday said it has successfully closed 10 million Euro export financing deal from European KfW IPEXBank that would enable easy deployment of German construction equipment in India. The financed machinery from a G...

The US unemployment rate dropped to 8.4 per cent in August with the addition of over 1.4 million new jobs, a latest monthly report said on Friday, reflecting that the world's biggest economy, which was severely hit by the COVID19 pandemic, is on its path...

Vodafone Idea Ltd said on Friday it would raise funds up to 250 billion Indian rupees ($3.41 billion) as the Indian telecom operator tries to pay off the hefty dues it owes to the government.

Realtors' association CREDAI on Friday said it has urged Maharashtra Chief Minister Uddhav Thackeray and Union Railways Minister Piyush Goyal to provide necessary logistical means to bring back migrant labourers from their villages. "With more than 75...

The Indian rupee rebounded by 33 paise to close at 73.14 against the US dollar on Friday, shrugging off tepid sentiment emanating from selloffs in domestic equities and weak macroeconomic indicators. On weekly basis too, the domestic currency gained 25...

The poor, small Southeast Asian country of Laos is set to cede majority control of its electric grid to a Chinese company, as it struggles to stave off a potential debt default, people with direct knowledge of the agreement said.

Wall Street's 'fear gauge' is soaring again, as investors spooked by Thursday's market decline rushed to load up on options protection, but analysts said the intensity of the move in volatility does not necessarily point to a market crash.

Stocks that moved heavily or traded substantially Thursday: