News stories for Reuters - Business Recorder

Reuters

Markets

Wall St ends down after Mnuchin dims stimulus hopes

Goldman Sachs rises as profit nearly doubles.
Wells Fargo, Bank of America drop after results.
Indexes: Dow -0.58%, S&P 500 -0.66%, Nasdaq -0.80%.

Published 15 Oct, 2020 02:12am

Business

Morocco expects economy to grow 4.8pc, fiscal deficit at 6.5pc in 2021

The draft budget was approved at a ministerial council chaired by King Mohammed VI and it will now be sent to parliament for approval.
The 2021 draft budget provides for increasing public investments to 230 billion dirhams ($25 billion) from 182 billion dirhams in 2020,

Published 15 Oct, 2020 02:10am

World

NY Fed's Logan: Fed moved quickly to address market dislocations in spring

From the experience we had at the time and the data we've been able to assess, it's clear that a wide range of investor types were really selling.
The Fed's purchases of Treasury securities and its commitment to do more if necessary, helped to keep money flowing through key markets, Logan said.

Published 15 Oct, 2020 02:07am

Business

United Airlines third-quarter revenue drops 78pc

The airline's daily cash burn fell to $25 million on an average in the quarter ended September.
United said its quarterly adjusted loss was $2.37 billion, or $8.16 per share, compared with adjusted net income of $1 billion.

Published 15 Oct, 2020 02:05am

Markets

Latam's oil-linked currencies rise, Brazilian real abandons gains

Mexican, Colombian pesos rise as oil prices firm.
Brazil's real trades lower, joins Chilean peso in the red.
Argentina refuses to devalue currency or seize bank deposits.

Published 15 Oct, 2020 02:02am

World

US names coordinator on Tibet amid tensions with China

Destro "will lead US efforts to promote dialogue between the People's Republic of China and the Dalai Lama or his representatives.
China has consistently refused to deal with the US coordinator, seeing it as interference in its internal affairs.

Published 15 Oct, 2020 01:55am

Business

Walmart, Best Buy extend Black Friday deals as spending habits change

Black Friday, held the day after the Thanksgiving public holiday, has long been one of the biggest shopping days of the year in the United States.
Amazon's Prime Day (in October) marks the earliest start of the full assortment holiday shopping season in 50 years.

Updated 15 Oct, 2020 01:54am

Markets

Copper drifts higher on Chile labour talks and US stimulus hopes

Three-month copper on the London Metal Exchange (LME) added 0.3% to $6,712 a tonne.
The second wave of the virus will force central banks to continue to inject huge amounts of liquidity in the markets and we've seen a drawdown of copper out of China.

Published 15 Oct, 2020 12:58am

Markets

Algeria buys an estimated 600,000 tonnes milling wheat

It was purchased at about $263.50 a tonne C&F, traders said. One trader put the price at between $263.50 and $264 a tonne C&F.
The tender had been the first from the OAIC in which wheat from Russia and other Black Sea suppliers could be offered.

Published 15 Oct, 2020 12:56am

World

G20 vows to do 'whatever it takes' to support global economy

G20 agrees in principle on debt restructuring framework.
Extends official debt payments freeze for six months.
World Bank leader sees rising risk of disorderly defaults.
IMF chief says more global cooperation needed on vaccine.

Published 15 Oct, 2020 12:53am

Business

BoE's Haldane confident that UK recovery will persist

Of course there are risks on the horizon that we all know about. But one of my key learnings from this year has really been just how flexible.
Households have been in the face of very considerable adversity. And that gives me confidence for the future.

Published 15 Oct, 2020 12:51am

Markets

EU wheat at new highs after Algeria shuns Black Sea wheat

Benchmark December milling wheat on Paris-based Euronext, closed 0.75 euro higher at 203.50 euros ($239.1) a tonne.
Russian wheat is too expensive and the quality criteria will make it more difficult for them.

Published 15 Oct, 2020 12:48am

Markets

Colombia's 2020 coffee harvest to hit record value $2.33bn

The projected value represents a 23.3% increase on the year before, when the harvest generated 7.3 trillion pesos.
Colombian coffee closed at $1.10 per pound on the New York market on Tuesday.

Published 15 Oct, 2020 12:46am

World

WHO fears spike in deaths after global COVID-19 surge

As ICUs see more patients, deaths may follow
'Herd immunity' only possible with a vaccine, WHO says
Young people might have to wait until 2022 for jab

Published 15 Oct, 2020 12:44am

Business

Microsoft in deal with Equinor for Norway CO2 storage project

Our goal is not only to contribute our technology and know-how, but explore how new solutions like the Northern Lights project can help us meet our own carbon negative goals by 2030.
The Northern Lights project is a partnership with Shell and Total.

Published 15 Oct, 2020 12:42am

Business

Colombia banks' client growth highest in nearly 7 years with govt COVID aid

Some 1.62 million new clients joined the financial system between January and June, taking the total number of banked Colombians to 31 million,
More than 920,000 Colombians have tested positive for coronavirus and over 28,000 have died as a result.

Published 15 Oct, 2020 12:39am

Business

YouTube bans coronavirus vaccine misinformation

YouTube said in an email that this would include removing claims that the vaccine will kill people or cause infertility.
Conspiracy theories and misinformation about the new coronavirus vaccines have proliferated on social media during the pandemic.

Published 15 Oct, 2020 12:37am

Business

ECB policymakers set out wish list for strategic rethink

The ECB has undershot its goal of keeping price growth "below but close to" 2% for nearly a decade.
This would be a variation on the Federal Reserve's new goal, which is a 2% inflation rate on average over an unspecified period.

Published 15 Oct, 2020 12:35am

Business

US court agrees to expedite government TikTok app store ban appeal

A US appeals court in Washington said all briefs are due by Nov. 12 with oral arguments to follow.
Key terms of the deal - including who will have majority ownership - are in dispute. ByteDance has also said any deal will need to be approved by China.

Published 15 Oct, 2020 12:30am

World

US CDC reports 215,194 deaths from coronavirus

The CDC reported its tally of cases of the respiratory illness known as COVID-19, caused by the new coronavirus.
The CDC figures do not necessarily reflect cases reported by individual states.

Published 15 Oct, 2020 12:28am

Gainers
Losers
Leaders

Stock	Price
Saritow Sp. / Oct 31 Saritow Spinning Mills Limited(SSML)	4.6000 ▲ 0.89 (23.99%)
Drekkar Kingsway / Oct 31 Drekkar Kingsway Limited(DKL)	6.7000 ▲ 0.70 (11.67%)
Hira Tex. / Oct 31 Hira Textile Mills Limited(HIRAT)	3.0500 ▲ 0.30 (9.12%)
Shabbir Tiles / Oct 31 Shabbir Tiles & Ceramics Limited(STCL)	16.1400 ▲ 1.44 (8.84%)
Summit Bank / Oct 31 Summit Bank Limited(SMBL)	1.9000 ▲ 0.15 (8.57%)
Olympia Mills / Oct 31 Olympia Mills Limited(OML)	11.9000 ▲ 0.90 (8.18%)
Kohinoor Ind. / Oct 31 Kohinoor Industries Limited(KOIL)	8.0000 ▲ 0.50 (6.67%)
Dewan Farooq. Spin. / Oct 31 Dewan Farooque Spinning Mills Limited(DFSM)	2.0000 ▲ 0.11 (5.82%)
D.S. Ind. Ltd. / Oct 31 D.S. Industries Limited(DSIL)	2.2900 ▲ 0.09 (4.09%)
Gharibwal Cem. / Oct 31 Gharibwal Cement Limited(GWLC)	31.2000 ▲ 1.18 (3.63%)

Stock	Price
Crescent Star / Oct 31 Crescent Star Insurance Limited(CSIL)	2.7000 ▼ 0.05 (-1.85%)
Pak Rein. / Oct 31 Pakistan Reinsurance Company Limited(PAKRI)	26.2500 ▼ 0.25 (-0.95%)
Ghani Val. Glass / Oct 31 Ghani Value Glass Limited(GVGL)	42.2500 ▼ 1.25 (-0.73%)
Hum Network / Oct 31 Hum Network Limited(HUMNL)	7.4000 ▼ 0.09 (-0.68%)
Descon Oxy. / Oct 31 Descon Oxychem Limited(DOL)	32.0833 ▼ 0.28 (-0.57%)
Cherat Packaging / Oct 31 Cherat Packaging Limited(CPPL)	204.7500 ▼ 1.75 (-0.49%)
Flying Cement Ltd / Oct 31 Flying Cement Company Limited(FLYNG)	10.2400 ▼ 0.09 (-0.49%)
Azgard Nine / Oct 31 Azgard Nine Limited(ANL)	21.0525 ▼ 0.15 (-0.48%)
Habib Bank Ltd. / Oct 31 Habib Bank Limited.(HBL)	131.2000 ▼ 0.95 (-0.40%)
Pak Oxygen / Oct 31 Pakistan Oxygen Limited(PAKOXY)	151.0000 ▼ 0.45 (-0.28%)

Stock	Volume
Unity Foods / Oct 31 Unity Foods Limited(UNITY)	36,191,000 ▼ 0.39
Pak Int.Bulk Ter / Oct 31 Pakistan International Bulk Terminal Limited(PIBTL)	19,376,500 ▼ 0.14
Hascol Petroleum / Oct 31 Hascol Petroleum Limited(HASCOL)	14,087,709 ▼ 0.10
Maple Leaf / Oct 31 Maple Leaf Cement Factory Limited(MLCF)	13,342,354 ▼ 0.58
Shabbir Tiles / Oct 31 Shabbir Tiles & Ceramics Limited(STCL)	12,744,000 ▼ 1.44
Power Cement / Oct 31 Power Cement Limited(POWER)	10,596,500 ▼ 0.08
Pakistan Refinery / Oct 31 Pakistan Refinery Limited(PRL)	8,876,500 ▼ 0.09
TRG Pak. / Oct 31 TRG Pakistan Limited(TRG)	8,275,000 ▼ 0.56
Fauji Cem. / Oct 31 Fauji Cement Company Limited(FCCL)	6,258,500 ▼ 0.20
Kot Addu / Oct 31 Kot Addu Power Company Limited(KAPCO)	5,871,000 ▼ 0.33

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Oct 30	160.25
USD PKR Interbank Buying / Oct 30	160.20
USD to Japanese Yen / Oct 30	104.63
USD to Swiss Franc / Oct 30	0.92
Pound Sterling to USD / Oct 30	1.29
Euro to USD / Oct 30	1.17

Stock	Volume
S&P 500 / Oct 30	3310.11
India Sensex / Oct 30	39749.85
Tokyo Nikkei / Oct 30	23331.94
Nasdaq / Oct 30	11185.59
Hang Seng / Oct 30	24586.60
FTSE 100 / Oct 30	5581.75
Dow Jones / Oct 30	26659.11
Germany DAX 30 / Oct 30	11598.07
France CAC40 / Oct 30	4569.67

Indicator	Value
Weekly Foreign Reserves / Oct 29	19301.60
GDPGROWTH / Oct 29	5.40
Foreign Debt (PKR billions) / Oct 29	15087.50
Per Capita Income USD (CPI) / Oct 29	1516.00
Average CPI % / Oct 29	11.11
UK LIBOR % / Oct 30	0.08