S&P 500 surges in strongest one-day rise since June
The S&P 500 surged on Monday in its strongest one-day gain since June as bond markets calmed after a month-long selloff, while another COVID-19 vaccine getting U.S. approval and fiscal stimulus bolstered expectations of a swift economic recovery.
U.S. factory activity scales three-year high, price pressures building
U.S. manufacturing activity increased to a three-year high in February amid a surge in new orders, but factories continued to face higher costs for raw materials and other inputs amid labor shortages at suppliers as the pandemic drags on.
GameStop surges more than 18%, other 'meme stocks' also rally
GameStop and other “meme stocks” mounted a late-day rally on Monday, with shares of the video game retailer climbing nearly 32% at one point on little apparent news.
Buffett upbeat on U.S. and Berkshire, buys back stock even as pandemic hits results
Warren Buffett’s enthusiasm for the future of America and his company Berkshire Hathaway Inc has not been dimmed by the coronavirus pandemic.
AstraZeneca has sold its stake in Moderna for more than $1 billion
AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company’s shares soared on the back of its coronavirus vaccine breakthrough, The Times reported.
Porsche to participate in fundraising of electric supercar maker Rima
Volkswagen unit Porsche is participating in a financing round of Rimac Automobili that will see the electric supercar maker raise 130 million-150 million euros ($157 million-$181 million), its owner Mate Rimac told weekly Automobilwoche.
UK's Sunak to provide 5 billion pounds of grants to pandemic hit businesses in budget
LONDON (Reuters) - British finance minister Rishi Sunak will announce 5 billion pounds ($7 billion) of additional grants to help businesses hit hard by pandemic lockdowns in his budget statement next week, the government said on Saturday.
Biden scores legislative win as House passes $1.9 trillion COVID relief plan
WASHINGTON (Reuters) - President Joe Biden scored his first legislative win as the House of Representatives passed his $1.9 trillion coronavirus relief package early Saturday, though Democrats face challenges to their hopes of using the bill to raise the minimum wage.
White House says it aims to strengthen ties with Brazil, but will speak out on concerns
WASHINGTON (Reuters) -The Biden administration is closely following developments in Brazil with regard to human rights and climate, but intends to continue strengthening U.S. economic ties and trade with the South American country, White House press secretary Jen Psaki said on Monday.
Mexican president says Pemex support should aid exploration, output
MEXICO CITY (Reuters) - Mexican national oil company Petroleos Mexicanos (Pemex) will receive new funding for its exploration and production business as part of a broader financial support plan, President Andres Manuel Lopez Obrador said on Thursday.