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Ford to update financial impact of global chip shortage next month

Ford said, while announcing the latest North American production cuts at seven plants due to the global chip shortage, that it would provide an update on April 28 to the expected hit to 2021 profit

Archegos fallout wipes $9 bn from market value of Credit Suisse, Nomura

Investors tallied the fallout from Archegos Capital's dramatic meltdown, with Nomura and Credit Suisse shares losing a collective $9 billion while heightened scrutiny of the hedge fund industry loomed

Biden says $2 trillion jobs plan rivals the space race in its ambition

Biden called for a sweeping use of government power to reshape the world's largest economy and counter China's rise in a $2 trillion-plus proposal that was met with swift Republican resistance

Explained: What's in Joe Biden's $2.3 trillion infrastructure plan?

The infrastructure plan US President Joe Biden will roll out in Pittsburgh on Wednesday includes $2.3 trillion in investments

Biden proposes $2 trillion 'once-in-a-generation' investment in US economy

"It's a once-in-a-generation investment in America, unlike anything we've seen or done," Biden said in Pittsburgh

Oil prices mixed as US crude inventory draw supports, OPEC+ concerns weigh

By Laila Kearney

Pakistan resumes trade with India, lifts ban on cotton and sugar imports

Pakistani buyers have already started making inquiries about buying Indian sugar and cotton, which is being offered at lower prices than supplies from other countries, five dealers said

Biden kicks off effort to reshape US economy with infrastructure package

He also aims to put corporate America on the hook for the tab, which is expected to grow to a combined $4 trillion once he rolls out the second part of his economic plan in April

S&P 500 hits record high ahead of Joe Biden's spending plan outline

The size and scale of the proposal, as well as the question of how it would be paid for is likely to set the stage for the next partisan clash in Congress.

Coronavirus pandemic to shave 3% off global output in medium term: IMF

The Covid-19 shock could also have a bigger impact on the labor market over the medium- and longer term

Govt to borrow Rs 7.24 trillion from market in six months: Finance Ministry

The net borrowings during the next fiscal year will be about Rs 9.37 trillion

Wall Street opens higher on optimism over Joe Biden spending plan

Tech stocks lifted all three major indexes on Wednesday as investors awaited details on US President Joe Biden's massive infrastructure plan, while Wall Street eyed its fourth straight quarterly gain

Amazon-backed Deliveroo shares dive 30% as debut of the decade turns torrid

Within minutes of the market opening on Wednesday, it lost 2.28 billion pounds of its value, which equity capital markets bankers said could undermine the market for some IPOs in Britain and Europe

Chinese phone, car, home appliance firms join semiconductor rush

By Josh Horwitz

Top Pak economic body allows import of cotton and yarn from India: Report

Pakistan's Economic Coordination Council, a top decision-making body, on Wednesday allowed the import of cotton and yarn from India

Britain's economy grew more than thought at end of miserable 2020

UK's Covid-hit economy grew more quickly than previously thought in the final three months of last year but still shrank by the most in more than three centuries in 2020 as a whole

Hitachi to buy US software developer GlobalLogic for $9.6 billion

Hitachi Ltd said on Wednesday it will buy US software company GlobalLogic Inc for $9.6 billion, as the Japanese industrial conglomerate aims to expand from electronics hardware to digital services

Database reveals secrets of China's loans to developing nations, says study

The terms of China's loan deals with developing countries are unusually secretive and require borrowers to prioritise repayment of Chinese state-owned banks ahead of other creditors, a study showed

Just 1 in 5 of world's biggest listed firms disclosed data about workforce

Just one in five of world's biggest listed companies disclosed data about their workforce in a survey run by a $7 trillion investor coalition, as they respond slowly to pressure to be transparent

US trade war pushing China to steal technology, talent, Taiwan says

The China-US trade war is pushing Beijing to step up its efforts to steal technology and poach talent from Taiwan to boost China's semiconductor industry's self-sufficiency, Taiwan said