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Tesla becomes highest-valued automaker as shares surge, overtakes Toyota

Tesla shares gained 5% in early morning trade to a record of $1,133, boosting the company's market cap to $209.47 billion

S&P, Nasdaq higher on Covid-19 vaccine hopes, improving economic data

A Covid-19 vaccine developed by Pfizer Inc and German biotech firm BioNTech showed promise and was found to be well tolerated in early-stage human trials

US charges generic drug firm Glenmark with conspiracy in price-fixing

Company says it strongly disagreed with the charge, has 'overwhelming evidence' to support its innocence.

Bharti backs bid for SoftBank's collapsed satellite operator OneWeb: Report

OneWeb filed for Chapter 11 bankruptcy at the end of March after its biggest investor SoftBank Group Corp pulled funding, with an auction for the startup due to start on Thursday.

India's unemployment rate fell to 11% in June from 23.5% in May: CMIE

The fall in jobless rate came as economic activities resumed after government eased pandemic lockdown restrictions

Fujifilm to partner Dr Reddy's to sell Avigan as coronavirus treatment

Japan's Fujifilm Holdings Corp said it was partnering with Dr Reddy's Labs to sell the anti-flu drug Avigan in India and elsewhere to treat Covid-19, the respiratory disease caused by the coronavirus.

Boeing kept FAA in the dark on key 737 MAX design changes, says report

The IG's report is the latest of reports faulting the plane's approval, while the Justice Department has an ongoing criminal investigation

India's factory activity contracts for third straight month in June

While the Nikkei Manufacturing Purchasing Managers' Index increased to 47.2 last month from 30.8 in May it was still below the 50-mark separating growth from contraction

Oil rises after sharp fall in US crude inventories indicating demand rise

Oil prices rose after an industry report showed crude inventories in the US fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world.

Wanted for graft, ex-Pemex boss to be extradited to Mexico from Spain

The former chief executive of Mexican state oil company Petroleos Mexicanos, Emilio Lozoya, has agreed to be extradited from Spain to Mexico to stand trial on corruption charges

California accuses Cisco of caste discrimination against Indian employee

Like other large Silicon Valley employers, Cisco's workforce includes thousands of Indian immigrants, most of whom were born Brahmins or other high castes

US could see 100,000 cases a day, no guarantee of effective vaccine: Fauci

'Clearly we are not in total control right now,' the country's top infectious diseases expert

UK's Johnson toughens Huawei rhetoric: Talks of 'hostile state vendors'

Huawei, considered a "high risk vendor" by Britain, was granted a limited role in building the country's 5G networks in January, after the government said it could manage the risks.

Uber Technologies eyes Postmates in $2.6-billion deal, plans expansion

Postmates is alternatively exploring various paths to go public

Essar group places bid for Brazil's Petrobras refinery in Bahia: Report

In a recent note to clients, analysts from Bradesco BBI valued the RLAM refinery, based in the northeastern Brazilian state of Bahia, at $2.5 billion

India's Chinese app ban seen jolting $1 billion expansion of ByteDance

TikTok was removed from Google and Apple app stores in India after New Delhi said on Monday night it was among the 59 apps which it believed posed a "threat to sovereignty and integrity"

OPEC, Russia seen easing oil production cuts from August: Report

OPEC+ have agreed to cut production by a record 9.7 million barrels per day

India sees above average monsoon rainfall in June, accelerating crop sowing

India saw 18% more rainfall than average in June as the monsoon covered the entire country nearly two weeks earlier than usual

Nasdaq's $1.2 trillion biotech index draws Europe's Covid-19 drug hunters

Spain's Pharma Mar is looking at listing on New York's Nasdaq market, joining a flurry of biotech companies aiming to tap investors' voracious appetite for the sector

USFDA to release guidance on Covid-19 vaccine approval: Report

Experts have suggested that it could take a minimum of 12 to 18 months to guarantee a safe and effective vaccine through clinical trials