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Facebook, Google entered illegal deals to undermine competition: US lawsuit

Facebook and Google used a series of deals to consolidate their market power illegally, Texas and nine other states alleged in a lawsuit against Google

US, EU must cooperate to oppose China subsidies for aircraft industry: USTR

The US and Europe should agree to cooperate in opposing any future "hurtful" subsidies used by China to build up its commercial aircraft industry, US Trade Representative Robert Lighthizer said

US retail sales fall more than expected in Nov dragged by Covid-19 surge

US retail sales fell more than expected in November, likely weighed down by raging new Covid-19 infections and decreasing household income

Boeing hires pilots for airlines to help relaunch 737 MAX: Report

The new "Global Engagement Pilots" will act as instructors or cockpit observers on 35-day assignments at an equivalent annual salary that could reach $200,000, for a total potential cost of $32 mn

US Congress closes in on $900 bn Covid-19 aid bill as Friday deadline looms

Negotiators were looking for a way to shift the approach to aiding hard-hit state and local governments, which has been a key Democratic priority but opposed by Republicans

Fed vows to maintain bond-buying until 'substantial progress' in recovery

It was the more incremental step of the options the Fed was weighing, taken as policymakers boosted their outlook for economic growth next year to 4.2 per cent from 4 per cent at the median

China regulator says should consider digital data tax for tech firms

"Some third-party platform-like enterprises hold a large amount of users data, just like holding precious mineral mines," science and technology supervision bureau chief said

US puts India on currency watch list, labels Switzerland as manipulator

Others on the list include China, Japan, Korea, Germany, Italy, Singapore and Malaysia

Fed extends pandemic-related dollar 'swap' lines for 9 other central banks

The ability to trade foreign currency for dollars at the US central bank is permanently available to the European Central Bank and a handful of other major central banks

S&P 500, Nasdaq open marginally higher on 'bumper' stimulus hopes

The S&P 500 opened higher by 1.63 points, or 0.04 per cent, at 3,696.25

Global litigation financiers plan India entry to target company disputes

The concept of litigation finance is widely prevalent in Australia, the United Kingdom and the United States

Huge first day IPO gains evoke 'bubble' risk in India, other Asian markets

The huge price pops have taken place across regional stock markets, including in Hong Kong, China, and India

Australia ups ante in China trade row with appeal to WTO on barley tariffs

The appeal to the independent trade body threatens to further stoke bilateral tensions that have already seen China impose tariffs on a range of Australian commodities

Oil prices slip on surprise gain in US inventory, demand squeeze worries

Oil prices dropped on a surprise gain in crude oil inventories in the US and as investors continued to worry about demand for fuel being squeezed amid Covid-19 lockdowns

Europe to get Covid vaccine before new year, nod likely in Christmas week

Europeans are set to start getting Covid-19 vaccines before the new year after the regional drug regulator accelerated approval process following the launch of immunisation campaigns in the US and UK

US Fed joins international group of central banks in climate change fight

The US Federal Reserve has joined an international group of central banks focused on climate change risk, a signal that it could move to incorporate the impacts of global warming into regulatory writ

Bank of Japan to buy $6 billion in cash to combat potential market turmoil

The Bank of Japan has decided to tap $6 billion in cash from a government account in a rare arrangement to ensure it has enough ammunition to combat any market disruptions

Japan exports fall in Nov for 24th straight month in record decline stretch

Japan's exports fell in November, dashing expectations for an end to the two-year run of declines, largely due to weaker US- and China-bound shipments and suggesting a slower pace of recovery

Amazon asks US judge to toss out $10 bn cloud contract award to Microsoft

Amazon urged a US judge to toss out the $10 billion JEDI cloud computing contract award after a court-ordered re-evaluation determined Microsoft's proposal still represented the best value

US Federal Reserve joins global club of peers in climate change fight

The Fed's membership in the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) comes after a yearlong collaboration, the Fed said