Category: Business

British Prime Minister Boris Johnson will pledge to end direct government support for overseas fossil fuel projects at a U.N. summit on Saturday, aiming to spur similar moves by other countries to help tackle climate change, his office said. Britain, which is co-hosting the virtual summit ahead of climate negotiations in Glasgow next year, has […]

Nasdaq said on Friday it will remove shares of four Chinese construction and manufacturing companies from indexes it maintains in response to a U.S. order restricting purchase of their shares. The securities, which are not traded on the Nasdaq exchange, will be removed from the indexes on Dec. 21. They include China Communications Construction Co, […]

Brazil’s tariff-free ethanol import quota with the United States will end on Monday as talks between the two countries on opening up their ethanol and sugar markets have broken down, a Brazilian government source said on Friday. This means tariffs on U.S. ethanol imports will go back to 20%, the rate imposed by Mercosur on […]

The S&P 500 and Nasdaq closed with modest declines on Friday, as uncertainty over fresh economic stimulus dented confidence, although strong gains from Walt Disney helped the Dow Industrials eke out a gain. The U.S. Senate, facing a midnight deadline on Friday, unanimously approved a one-week extension of federal funding to avoid a government shutdown […]

Business software maker Oracle Corp said on Friday it was moving its corporate headquarters to Austin, Texas from Redwood City, California. Oracle is the latest tech firm to exit Silicon Valley after the COVID-19 pandemic triggered a broader shift to remote work, making companies reconsider California’s higher operational costs and hefty taxes. Employees can pick […]

Apartment Investment and Management Co will be removed from the S&P 500 as of Dec. 21 to make room for the inclusion of Tesla Inc, S&P Dow Jones Indices said on Friday. Apartment Investment and Management, which is spinning off Apartment Income REIT in a deal expected to be completed post market close on Monday, […]

United Airlines Holdings Inc said on Friday average cash burn in the fourth quarter could jump up to $26 million per day, hurt by travel restrictions following a surge in COVID-19 cases over the last few weeks. The U.S. airline industry is still losing billions of dollars every month due to weak travel demand, exacerbated […]