Page 1224 - Reuters/workspace/business Standard Web/video

US President-elect Joe Biden unveils plan to speed Covid-19 vaccine rollout

According to a document released by his transition team, Biden would invoke the Defense Production Act to increase production of equipment needed to distribute the vaccines

Outgoing Trump admin mulls industry-wide biofuel waiver for oil refiners

The proposal for a general waiver could open the door to a contentious debate between the oil and biofuel industries just as Trump leaves the White House

Oil prices drop over 2% on China lockdowns, US stimulus concerns

Brent fell $1.32, or 2.3%, to settle at $55.10 a barrel

WhatsApp to delay launch of new business features after privacy backlash

The delay is a setback for WhatsApp's plan to generate revenue by facilitating commercial exchanges on the messaging app, which Facebook acquired for $19 billion in 2014 but has been slow to monetize

Amazon faces class-action lawsuit over eBook pricing, says report

The lawsuit comes a day after Connecticut said it was investigating Amazon for potential anti-competitive behaviour in its business selling digital books

Global temperatures in 2020 among highest on record, says WMO report

WMO said the differences in average global tempe­ratures among the three warmest years, 2016, 2019 and 2020, were indisting­uishably small

Joe Biden's $1.9-trillion plan offers bridge for hard-hit economy

The incoming Democratic administration's proposed package provides targeted aid that economists say delivers the most effective economic boost

Walmart head of US online business, Marc Lore, to step down by Jan-end

His exit comes at a time when the COVID-19 pandemic has heated up the online shopping business, as customers turn to websites and apps to avoid the risks of visiting stores

Trump's China tech war backfires on automakers as chips run short

Automakers around the world are shutting assembly lines because of a global shortage of semiconductors that has been exacerbated by the US actions against key Chinese chip factories, officials said

Signal experiencing technical difficulties, working to restore service

Signal has seen a rise in downloads following a controversial change in rival messaging app WhatsApp's privacy terms

Oil drops over 2% on China lockdowns due to outbreak, US unemployment data

Both benchmarks, which hit their highest in nearly a year earlier in the week, were are heading for their first weekly declines in three weeks

BMW aims to double electric vehicle sales in 2021, take fight to Tesla

BMW also said that including plug-in hybrids, it aims for a 50% increase in sales of electrified vehicles versus 2020

US imposes fresh sanctions on Iran in final days of Trump presidency

Washington blacklisted seven entities and two individuals in sanctions related to the Islamic Republic of Iran Shipping Lines and Iranian shipping entities

Higher costs, weak revenue cloud Citigroup's quarterly profit beat

Citi's profit fell 7% even as its peers JPMorgan and Wells Fargo & Co posted profit growth in the fourth quarter.

Wells Fargo records rare profit beat helped by stabilising credit costs

Wells has operated under a dark cloud since 2016, when details emerged about millions of phony accounts employees had created in customers' names

Wall Street opens lower after Biden's stimulus plan raises tax concerns

The Dow Jones Industrial Average fell 64.7 points

Citigroup quarterly profit beats estimates as loan loss provisions slow

Citigroup Inc reported a 7% decline in fourth-quarter profit on Friday but easily beat Wall Street expectations

JPMorgan profit jumps 42% on reserve release, investment banking strength

The big US lenders spent 2020 grappling with the economic fallout of the Covid-19 pandemic, setting aside billions to cover expected loan losses

China's fight against new wave of Covid infections clouds economic recovery

New cases in China are at 10-month highs

GE alleges Siemens Energy used stolen trade secrets to rig contract bids

The litigation is the latest legal battle involving the corporate rivals, which have squared off in lawsuits over patent infringement as recently as last year