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In 2020 the ultra-rich got richer. Now they're bracing for the backlash

In 2020, as the world convulsed under Covid-19 and the global economy faced its worst recession since World War II, billionaires saw their riches reach new heights

China proposes a set of global rules for central bank digital currencies

The PBOC is aiming to become the first major central bank to issue a CBDC

Suez Canal suspends traffic as container ship stuck like 'beached whale'

The ship's GPS signal shows only minor changes to its position over the past 24 hours

Chinese tech stocks fall sharply as US SEC rolls out delisting law

Move adds to the unprecedented crackdown in China on domestic tech firms

North Korea missile launch tests Biden, alarms Japan ahead of Olympics

Thursday's launches came just days after North Korea fired several cruise missiles in an exercise that Biden said was not provocative but "business as usual."

Oil prices slide on fresh Covid-19 curbs in Europe, stranded ship

Brent crude slid more than 2 per cent, to $61.64 a barrel at 7.57 pm (IST)

Nike, Adidas join brands feeling Chinese social media heat over Xinjiang

Both Nike and Adidas, which have been growing rapidly in China, have said previously that they do not source products or yarn from the Xinjiang region

Banks, energy stocks drag Wall Street lower; Joe Biden's presser in focus

Ten of the 11 S&P sectors fell in early trading

'Helpless': India's delays to hit vaccines for poor countries under Covax

UNICEF, a UN agency responsible for distributing vaccines through the global Covax programme, confirmed to Reuters overnight that it expects deliveries of the vaccines to be delayed

European stocks inch lower as Covid lockdowns cloud growth outlook

The pan-European STOXX 600 index slipped 0.1%

Indian economy's revival seen unabated despite Covid surge: Shaktikanta Das

India's revival of economic activity is expected to be "unabated", despite a rise in coronavirus infections in many areas and 2022 growth projections might not need to be cut, Das said

Investors turn bearish on Asian currencies for 1st time in a year: Report

Investors were bearish on all Asian currencies for the first time in a year as US economic outperformance and new lockdowns elsewhere muddy the outlook for risk assets

Gold prices rise on Europe coronavirus worries, strong dollar caps gains

Gold prices rose on Thursday as surging Covid-19 cases across Europe fuelled economic growth concerns, although a strong US dollar checked gains in bullion

BlackRock, others' risks should be studied carefully: US Treasury Secretary

Treasury Secretary said it's important to "look carefully" at systemic risks posed by asset managers but designating them as systematically important financial institutions may not be right approach

US SEC begins rollout of law aimed at delisting Chinese companies

The top US securities regulator adopted measures that would kick foreign companies off American stock exchanges if they do not comply with auditing standards

Oil prices slide as Covid lockdown concerns outweigh Suez Canal disruptions

Oil prices skidded around 2% as fuel demand concerns re-emerged alongside fresh lockdowns, trimming gains spurred by grounding of a giant container ship blocking crude shipments through the Suez Canal

US regulator opens inquiry into Wall Street's blank check IPO frenzy

The US securities regulator has opened an inquiry into Wall Street's blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, sources said

Nike faces social media storm in China over its Xinjiang statement

Anger with Nike erupted on Chinese social media late after China's netizens spotted a statement from the sporting goods giant saying it was "concerned" about reports of forced labour in Xinjiang

Fourteen US states sue Biden administration over oil and gas leasing pause

Fourteen US states including Louisiana and Wyoming filed lawsuits against President Joe Biden's administration, challenging his pause on new oil and gas leasing on federal lands and waters

GSK fires former US govt vaccine head Slaoui over harassment allegation

GlaxoSmithKline has dismissed Moncef Slaoui as chairman of a company controlled by the British drugmaker after an internal investigation found he had sexually harassed an employee several years ago