Stocks fall on Wall Street, heading for another weekly loss

New York: Stocks are falling in afternoon trading Friday, putting Wall Street on track for its third losing week in the last four. The losses came after the government said U.S.…

US employment plunges in March amid worsening coronavirus damage

Washington: As the US economy craters, crippled by coronavirus shutdowns, businesses jettisoned jobs at an alarming rate last month, government data showed Friday, and the situation will get dramatically worse. US…

Avolon cancels order for 75 Boeing 737 MAX planes

New York: Irish aircraft leasing company Avolon said Friday it was canceling an order for 75 737 MAX planes due to the massive deterioration in travel because of COVID-19. The planes…

Markets retreat as virus woes mount; bank stocks hammered

Mumbai: Equity indices spiraled lower for yet another session on Friday, pressured by heavy selling in bank stocks, as the steady rise in COVID-19 cases fuelled uncertainty over the economic…

Coronavirus: Nivea India starts manufacturing hand sanitisers; to be distributed ‘free of cost’

New Delhi: Personal grooming products maker Nivea India on Friday said it has started production of hand sanitizers from its skincare manufacturing plants in collaboration with its key partners. The company…

Siemens India commits Rs 20 cr to fight coronavirus pandemic

New Delhi: Siemens Ltd on Friday said it has committed Rs 20 crore towards providing critical medical care equipment across the country for the treatment of coronavirus-infected patients. The company will…

Bank shares tank after Moody’s changes outlook on Indian banks to negative

New Delhi: Bank shares on Friday dropped up to 15.5 per cent after Moody’s Investors Service changed the outlook for Indian banking system to negative from stable. The scrip of RBL…

Covid-19 lockdown: Smooth supply of coal by CIL to gencos despite default in payments

New Delhi: State-owned Coal India has decided to provide smooth fuel supply to power generation companies without any restrictions despite default in payments by the state generation companies (gencos), in view…

Sensex slumps 674 pts; Nifty drops below 8,100

Mumbai: Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as unabated spike in new COVID-19 cases fuelled uncertainty over the economic impact of the…

Oil dips after record rally, Asia stocks mixed as weekend looms

Hong Kong: Crude prices slipped Friday after the previous day’s record surge as traders questioned Donald Trump’s claims that Russia and Saudi Arabia were set to slash output, while Asian equities…

Rupee slips 48 paise to 76.08 against US dollar in early trade amid coronavirus scare

Mumbai: The Indian rupee fell 48 paise to 76.08 against the US dollar in opening trade on Friday, as investors braced for a prolonged period of uncertainty as coronavirus cases witnessed…

Coronavirus: S&P downgrades Tata Motors ratings, outlook stable

New Delhi: S&P Global Ratings has downgraded Tata Motors to more vulnerable to non-payment grade ‘B’ citing weaker-than-expected credit metrics owing to the disruptions and economic impact from the coronavirus pandemic.…

Sensex drops over 400 pts; Nifty tumbles below 8,200

Mumbai: Equity benchmark Sensex tumbled over 400 points in early trade on Friday led by losses in banking and auto stocks as investor sentiment continued to be weighed down by the…

Global economy could shrink by almost 1% in 2020 due to COVID-19 pandemic: UN

United Nations: The global economy could shrink by up to one per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth,…

HDFC Bank offers loan deferment option to customers

New Delhi: HDFC Bank on Wednesday offered to defer EMIs in the wake of the coronavirus pandemic. The bank in an email to its customers said the prevailing situation may pose…

Financial markets to remain closed for Ram Navami

Mumbai: The BSE, National Stock Exchange, and currency markets will remain closed on Thursday on account of Ram Navami’.  

Trump proposes USD 2 trillion infrastructure fund

Washington: US President Donald Trump has proposed a massive USD 2 trillion infrastructure plan, along with several other measures like corporate deductibility for restaurants and entertainment facilities to stimulate the American…

SpiceJet to cut up to 30 pc salary of employees in March

Mumbai: Budget carrier SpiceJet has decided to cut up to 30 per cent salary of its employees in March with Chairman Ajay Singh opting for the highest 30 per cent…

Maruti reports 47 pc in March sales

New Delhi: The country’s largest carmaker Maruti Suzuki India (MSI) on Wednesday reported a 47 per cent decline in sales at 83,792 units in March. The company had sold 1,58,076 units…

World Bank warns China growth could screech to a halt

Washington:  The coronavirus pandemic’s economic fallout could cause China’s growth to come to a virtual standstill and drive 11 million more people in East Asia into poverty, the World Bank…