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UK's Rishi Sunak considers sweeping tax hikes to plug Covid-19 hole

Tax hikes suggested by Treasury officials could raise an extra 20-30 billion pounds a year and some of them could be announced in an autumn budget statement by Sunak

China's battered banks brace for future loss as bad loans rise due to Covid

As the pandemic batters economies globally, BoC, the most international of China's large state banks, said it would keep guarding against global financial market risks in the second half

UK treasury officials pushing for tax hikes to offset Covid impact: Report

Such hikes will enable the exchequer to raise at least 20 billion pounds ($26.70 billion) a year, and some could be introduced in the November budget, the Sunday Telegraph said

China's new tech export controls could give Beijing a say in TikTok sale

It can take up to 30 days to obtain preliminary approval to export the technology

Huawei focusing on cloud business still having access to US chips: Report

Huawei's cloud computing business sells computing power and storage to companies, including giving them access to artificial intelligence

Iran vows to fight US suit to seize $1.7 bn held by Deutsche Boerse unit

In 2019, a Luxembourg court refused to enforce a U.S. ruling that would have helped families of victims of the Sept. 11, 2001 attacks claim Iranian assets held with Clearstream

Sanofi more confident about its coronavirus vaccines, trials next month

The company is working on two of the more than 150 potential vaccines being developed across the world to tackle the Covid-19 pandemic

TikTok says it has not received a bid from Centricus and Triller Inc

The TikTok spokesman said Centricus and Triller had not contacted the company about an offer. Centricus and Triller could not be immediately reached for comment

New Zealand's stock exchange resumes trading after cyberattacks

There is no clarity on who was behind these "offshore" attacks, but the failure to stop them has raised questions about New Zealand's security systems, experts said

PM Shinzo Abe may be gone, but 'Abenomics' will stay on in Japan

The next prime minister will find it hard to get over the challenges of the current pandemic and long-term demographic trends

World Bank suspends ease of doing biz report over 'data irregularities'

The WB said in a statement that it would conduct a systematic review of data changes in the last five Doing Business reports, and independent auditors will probe data collection and review processes.

Sinovac's Covid-19 vaccine candidate approved for emergency use in China

China National Biotec Group (CNBG), a unit of state-owned pharmaceutical giant China National Pharmaceuti­cal (Sinopharm), also said it had obtained emergency use approval for a vaccine candidate

Japanese PM Shinzo Abe steps down; cites chronic illness as reason

He said he had decided to step down now to avoid a political vacuum as the country copes with its novel coronavirus outbreak

At half of Jeff Bezos's net worth, Elon Musk enters elite $100 bn club

A large chunk of his wealth comes from the 21% stake in Tesla, according to Forbes

Here's why Wall Street thinks Walmart's move to buy TikTok makes sense

Companies have been scrambling to advertise and sell on apps like TikTok and Facebook's Instagram, where shopping has surged

United Airlines announces job cuts for 2,850 pilots, biggest in its history

United's planned cuts, released in a memo to employees and shared with the media, would run between Oct 1 and Nov 30

Oil steady as US producers, refiners avoid worst of Hurricane Laura

Brent crude futures for October, set to expire on Friday, rose 2 cents to $45.11 a barrel, heading for a 1.7% weekly gain

Energy export severely disrupted by Hurricane Laura, 1 bpd reduction likely

Laura made landfall early Thursday near the Texas-Louisiana border, one of the most powerful storms to ever hit the region, and raced north

European Union's trade chief quits after ire over virus-rule breach

"This evening I have tendered my resignation," Phil Hogan said in a statement on Wednesday

New Zealand's stock exchange halts trading for third day in a row

The exchange pointed to network connectivity issues from the cyber attacks and said it is hoping to resume on Friday.