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US to pay $1.95 bn to Pfizer for producing 100 mn Covid-19 vaccine doses

The agreement allows the US government to acquire an additional 500 million doses

US orders China to shut Houston consulate in 3 days over espionage

Washington "abruptly demanded" closure of the Houston consulate on Tuesday, China's foreign ministry said, calling the move an "unprecedented escalation."

Don't expect first Covid-19 vaccinations until early 2021, says WHO expert

WHO is working hard to ensure fair distribution of the vaccines, but in the meantime it is key to suppress the spread of the virus, said Mike Ryan, executive director of WHO's emergencies programme

WhatsApp to partner with more Indian banks in financial inclusion push

WhatsApp will also expand pilot projects with banking and other partners to cover financial services such as pensions and insurance

How Tesla is heralding a new culture in auto industry, one car at a time

Investors are betting on Tesla's ability to scale up manufacturing just as they once backed Toyota Motor Corp, which defined the auto industry's last era

Migrant workers from India, Nepal 'totally hopeless' as UAE economy buckles

The treatment of migrant workers in the Gulf has come under greater scrutiny, with human rights groups saying conditions have deteriorated because of the coronavirus.

Gold sprints to nine-year peak on softer dollar, stimulus expectations

Spot gold was up 0.9% at $1,857.86 per ounce by 0232 GMT, after hitting its highest since September 2011 at $1,865.35 earlier in the session

Expectations worsen for Europe's Q2 earnings season over recession fears

Expectations for second-quarter corporate profits have deteriorated in Europe, according to Refinitiv data, as fears grow over the extent of the recession triggered by the coronavirus pandemic

Oil prices fall on US inventory build, increasing coronavirus fears

Industry group American Petroleum Institute (API) reported US crude inventories rose last week by 7.5 million barrels compared with expectations for a draw of 2.1 million

Profit or not? Analysts divided ahead of Tesla's second-quarter results

Analysts' estimates for Tesla's second quarter range from an adjusted loss as steep as $2.53 a share to a $1.41 per share profit

US wants to build coalition to counter China's 'disgraceful' menace: Pompeo

US President Donald Trump identifies China as the United States' main rival, and has accused President Xi Jinping of taking advantage over trade and not telling the truth over the novel Covid outbreak

Walmart to spend another $428 mn on employee bonuses amid Covid-19 crisis

The United States' largest employer said the new spending brings the total expenditure on employee bonuses to $1.1 billion this year.

Oil prices jump 3% on coronavirus vaccine hopes, EU stimulus deal

West Texas Intermediate jumped $1.36, or 3.3%, to $42.17 a barrel

Wall Street opens higher on upbeat corporate earnings, stimulus hopes

The Dow Jones Industrial Average rose 152.27 points, or 0.57%, at the open to 26,833.14, and the S&P 500 opened higher by 16.68 points, or 0.51%, at 3,268.52.

Game changer? How $858 bn Covid-19 recovery fund will shake up EU bond mkts

The EU currently has around 54 billion euros in outstanding debt, having borrowed nothing last year and just 5 billion euros in 2018

Apple aims to remove carbon emissions from supply chain, products by 2030

Apple said it aims to achieve 75% of the goal by reducing emissions, with the remaining 25% coming from carbon removal or offset projects such as planting trees and restoring habitats

India, US closing in on a trade deal after two years of negotiations: Goyal

Both New Delhi and Washington should also look at a preferential trade pact with 50 to 100 products and move to a free trade pact in the long term, Goyal said

Gold firms near nine-year high on increased stimulus bets, silver soars

Spot gold was up 0.2% at $1,818.23 per ounce by 0510 GMT after hitting its highest since September 2011 on Monday. US gold futures rose 0.2% to $1,821.10

What EU leaders agreed on the post-coronavirus recovery package

European Commission will borrow massively on the market and then grant much of the cash, rather than lend it, to countries most in need of economic stimulus

Glenmark defends pricing of Covid-19 drug FabiFlu, says it is economical

Glenmark also denies making any claims that "favipiravir alone" is effective in treatment of mild-to-moderate Covid-19 patients