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Jerome Powell targets 2% average inflation, focus shifts to jobs

Fed's new approach would allow for prices to overshoot target

New Zealand mosque shooter Brenton Tarrant sentenced to life without parole

It was the first time a court in New Zealand had sentenced a person to prison for the rest of their life

Broad-based population testing for coronavirus not always useful, says WHO

Maria Van Kerkhove, a WHO epidemiologist, said the UN agency recommended suspected cases be tested and their contacts, if feasible, likewise, but the focus should be on people with symptoms

India state-owned refiners halt oil imports from Chinese companies: Report

Refiners stop sending crude import tenders to Chinese trading firm like CNOOC, Unipec and PetroChina, among others

Federal Reserve to target 2% average inflation, elevates focus on jobs

Under the new approach, the US central bank will seek to achieve inflation averaging 2% over time, offsetting below-2% periods with higher inflation "for some time"

Walmart joins Microsoft bid for TikTok's US assets as video app's CEO quits

Chief Executive Kevin Mayer is leaving just three months after joining, in the middle of negotiations to sell the Chinese-owned video app's US operations to Microsoft Corp or Oracle Corp

Bain-backed flash memory chipmaker Kioxia launches $3.6 billion IPO

Bain, which initially planned to list Kioxia last year, pushed back the listing because of deteriorating market conditions

Delhi HC halts insolvency proceedings against Reliance's Anil Ambani

His Reliance Communications (RCom), a mobile carrier launched in 2002 with cut-price plans and is currently in insolvency.

Covid-19: South Korea central bank cuts GDP outlook, open to more stimulus

The Bank of Korea kept the seven-day repurchase rate at a record low of 0.5%, in an unanimous and widely expected decision, after 75 basis points of rate cuts this year

TikTok CEO Kevin Mayer quits amid Trump's threat to ban app: Report

Mayer told employees at TikTok and ByteDance, which controls the app, of his decision to leave on Thursday, people briefed about the matter said

Gold holds steady on softer dollar, investors eye Fed Chair Powell's speech

Gold prices were mostly unchanged after rising more than 1% in the previous session on weaker US dollar, as investors awaited a speech from Federal Reserve Chairman Jerome Powell due later in the day

Oil prices hold pattern as huge Gulf of Mexico storm shuts output

US West Texas Intermediate crude futures fell 4 cents, or 0.1%, to $43.35 a barrel by 0148 GMT, erasing Wednesday's slight rise

Indian farmers driven to debt as banks turn risk-averse during pandemic

Agriculture accounts for near 15% of India's $2.8 trillion economy and is a source of livelihood for more than half of its 1.3 billion people

Samsung trials work-from-home as South Korea battles virus resurgence

Samsung Electronics plans to allow some workers in South Korea to work from home under a pilot programme, as the country battles a resurgence in novel coronavirus cases

China industrial profits grow at fastest pace since mid-2018 amid pandemic

Profits at China's industrial firms grew for a third straight month and at fastest pace since June 2018

Australia Q2 business investment slide not as bad as feared, plus for GDP

Australian business investment fell by less-than-feared last quarter and future spending plans remained surprisingly intact in a hopeful sign economic recession may not be as deep as forecast earlier

Lebanon inflation soars to 112% year-on-year in July amid economic meltdown

Lebanon's inflation rate soared to 112.4% year-on-year in July amid an economic meltdown, latest official data showed

Air New Zealand to draw on govt loan after first annual loss in 18 years

Air New Zealand has cut around 30% of its workforce and grounded most of its long-haul fleet in an effort to reduce cash burn amid strict international travel restrictions

S Korea central bank holds rates, but cuts GDP forecast on Covid concerns

The Bank of Korea kept the seven-day repurchase rate at a record low 0.50%

Asia shares set to rise after US equities hit new record in tech spike

Japan's Nikkei 225 futures fell 0.04%, while the Nikkei 225 index closed the overnight session down 0.03% at 23,290.86​​​​