Business

Britain reduced its foreign aid spending commitment on Wednesday to 0.5% of gross domestic product from 0.7%, causing an immediate outcry from international development organisations and the spiritual head of the Church of England.

Orders to U.S. factories for bigticket manufactured goods showed a modest gain in October with a key category that tracks business investment also showing weakness.

The number of Americans filing firsttime claims for jobless benefits increased further last week, suggesting that an explosion in new COVID19 infections and business restrictions were boosting layoffs and undermining the labor market recovery.

Indonesia's maritime and fisheries minister was arrested on Wednesday by the country's antigraft agency, among 17 people detained in simultaneous swoops as part of a probe into alleged corruption in the export of baby lobsters.

The European Commission failed to properly consider conflicts of interest when it appointed a division of BlackRock, the world's largest asset manager, to help develop green banking rules, the European Union watchdog said on Wednesday.

Chinese private equity firm CITIC Capital plans to take private AsiaInfo Technologies Ltd in a deal that could value the telecom software provider at about $1.8 billion, two people with direct knowledge of the matter told Reuters.

With millions dining at home for safety and a swing to the spicier side in the U.S. in recent years Cholula, the hot sauce with the distinctive wooden cap and a cult following, has become a very valuable brand.

Oil hit its highest since in March on Tuesday, rising above $47 a barrel as a third promising coronavirus vaccine raised demand recovery hopes and U.S. Presidentelect Joe Biden received the goahead to begin his transition.

Tesla Inc crossed $500 billion in market value on Tuesday as investors lapped up its shares in the runup to its addition to the S&P 500 index, extending a meteoric rally that has seen the stock gain more than six times this year.

AstraZeneca must prove its claim that its potential COVID19 vaccine has the lowest price of the main candidates so far, nongovernmental organisation Medecins Sans Frontieres (MSF) said on Tuesday, urging the company to make public its supply contracts.

Global shares were mostly higher Tuesday, encouraged by news on the development of coronavirus vaccines and more assurance of a transition of power in the U.S. to Presidentelect Joe Biden.

Gold hit a fourmonth low on Tuesday as investors deserted the safehaven metal following a U.S. federal agency's transition approval for Joe Biden and growing prospects for the swift release of an inexpensive COVID19 vaccine.

Presidentelect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as treasury secretary, a pivotal role in which she would help shape and direct his economic policies, according to a person familiar with the transition plans.

The U.S. Transportation Security Administration said it screened 1.047 million passengers on Sunday, the highest number since midMarch.

Ireland's prime minister said on Monday he hoped the outline of a Brexit freetrade deal would emerge by the end of this week, despite what the European Union's negotiator called "fundamental divergences" at talks.

The U.S. is making General Motors recall and repair nearly 6 million big pickup trucks and SUVs equipped with potentially dangerous Takata air bag inflators.