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Global debt surged to record $258 trillion in first quarter of 2020

The IIF said the first-quarter debt-to-GDP ratio jumped by over 10 percentage points, the biggest quarterly surge, to reach a record 331%

Income of Russians plunges most in 20 years in Q2; GDP shrinks 9.6%

The income fell 8 per cent in year-on-year terms in April-June, the state statistics service Rosstat said on Friday

EU negotiating with drugmakers to secure potential Covid-19 vaccines

The talks follow a deal reached in June by four EU member states with AstraZeneca for the upfront purchase of 400 million doses of its potential Covid-19 vaccine

Disney, Apple and other firms pawns of China: Attorney General William Barr

Barr chided US companies for being too willing to take steps to ensure access to the large Chinese market

US economy to shrink by 6.6% in 2020, faces significant risks: IMF staff

The coronavirus has infected more than 3.5 million Americans and killed nearly 140,000, both figures leading the world

Wall Street slips on fears of economic pain due to rising Covid-19 cases

Netflix's shares fell 7.2% after it forecast slower-than-expected subscriber growth during the third quarter and weighed the most on the S&P 500 and the Nasdaq.

Wall Street opens higher as investors bet on stimulus-led economic revival

The Dow Jones Industrial Average rose 39.91 points, or 0.15%, at the open to 26,774.62.

India's petrol, diesel demand falls again due to high prices, lockdown

India on Friday became the third country in the world to record more than one million cases of the new coronavirus, behind only the United States and Brazil

EU in talks with drugmakers to secure potential Covid-19 vaccines: Report

The multiple talks confirm the bloc's more assertive stance on procuring potential Covid-19 shots and drugs after Washington's early moves in securing promising treatments and vaccines

End of the jumbo: British Airways retires entire Boeing 747 fleet early

BA had been planning to retire the aircraft in 2024 but with passenger numbers decimated this year and forecasts that it will be years before they recover

European Central Bank survey points to shallower recession, strong rebound

The euro zone economy may contract less this year than the European Central Bank had forecast and its recovery could also be quicker, the bank's Survey of Professional Forecasters showed

Oil prices fall after OPEC raises crude output as US Covid-19 cases surge

Both benchmarks rose 2% on Wednesday following a sharp drawdown in US crude inventories

Netflix names content chief Ted Sarandos co-CEO, forecasts weak Q3 growth

Netflix says it is looking to add 2.5 million new paid streaming customers around the world

Global debt hits record high of 331% of GDP in Q1 amid Covid-19: Report

The IIF, which represents global banks and financial institutions, said the first-quarter debt-to-GDP ratio jumped by over 10 percentage points, the largest quarterly surge on record

Netflix adds 10.09 million subscribers in Q2, forecasts weak growth in Q3

The streaming giant also said it has appointed Chief Content Officer Ted Sarandos as co-chief executive officer

India, US discuss the possibility of a free trade pact: Piyush Goyal

Piyush Goyal and US Commerce Secretary Wilbur Ross also appreciated the substantial progress made by both sides on most of the outstanding issues

Bank of America profit more than halves in Q2 as heavy loan losses loom

The fall in revenue and profit was broadly in line with other Main Street peers that have suffered from the need to brace for a deep recession

S&P 500 down from five-week high as Covid-19 fears weigh on investors

The Dow Jones Industrial Average fell 123.53 points, or 0.46 per cent, at the open to 26,746.57

Morgan Stanley posts record profit on trading boom amid Covid-19 crisis

Trading powerhouses Morgan Stanley and Goldman Sachs performed better than Main Street rivals JPMorgan Chase, Bank of America and Citigroup

Top EU court ditches data transfer deal over concerns of US surveillance

The so-called Privacy Shield was set up in 2016 by Washington and Brussels to protect personal data when it is sent to the United States for commercial use