News stories for Reuters - Business Recorder

Reuters

Business & Finance

Dropbox to layoff 11pc of workforce, COO to step down

Shares fell nearly 6% to $22.26 after Dropbox said Chief Operating Officer Olivia Nottebohm, who joined last year from Alphabet Inc's Google, will step down on Feb. 5.
Our Virtual First policy means we require fewer resources to support our in-office environment.

Published 13 Jan, 2021 08:06pm

Markets

Raw sugar futures rise, cocoa and coffee also climb

March raw sugar was up 0.14 cents, or 0.9%, at 15.60 cents per lb.
March New York cocoa was up $25, or 1%, at $2,523 a tonne.
March arabica coffee rose 1.2 cents, or 1%, to $1.2260 per lb.

Published 13 Jan, 2021 08:05pm

World

Putin orders mass coronavirus vaccinations in Russia from next week

Russia, which has the world's fourth highest number of COVID-19 cases, started large-scale vaccinations last month.
I ask you to start mass vaccinations of the entire population as early as next week.

Published 13 Jan, 2021 08:01pm

World

Brazil services sector grows 2.6pc in Nov, sixth rise in a row

Activities such as restaurants, hotels, family services and transport ... are recovering, but the need for social distancing means the sector has not yet returned to pre-pandemic (levels).
Services account for around two-thirds of Brazilian economic activity.

Published 13 Jan, 2021 07:59pm

World

Indian farmers burn legislation in show of defiance

Tens of thousands of farmers have been camped on the outskirts of the capital, New Delhi, for almost two months.
The government led by Prime Minister Narendra Modi denies this, saying the legislation is required to reform an agricultural sector beset by waste.

Published 13 Jan, 2021 07:55pm

Business & Finance

Qualcomm eyes challenge to Apple, Intel with $1.4b deal for chip startup

The deal marks a big push by Qualcomm to reestablish a leading position in chip performance after several years of high-profile patent licensing litigation with rival Apple and regulatory authorities.
It's exciting to see Nuvia join the Qualcomm team," Panos Panay, Microsoft's chief product officer.

Published 13 Jan, 2021 07:53pm

Markets

Gold eases as dollar ticks higher; markets eye stimulus details

Spot gold was down 0.1% to $1,854.40 per ounce.
The risk is to the downside for gold. Concerns about inflation expectations and a firmer dollar have acted as a little bit of an anchor on the gold price.

Published 13 Jan, 2021 07:50pm

World

Italy to extend COVID state of emergency to end of April

The state of emergency, first introduced in January 2020, had been set to expire at the end of this month.
In the past week there has been a generalised worsening of the epidemic, we are back to an expansionary phase.

Published 13 Jan, 2021 07:45pm

Markets

US natural gas surge 2pc to 6-week high on soaring global prices

Front-month gas futures rose 6.4 cents, or 2.3%, to $2.817 per million British thermal units.
Data provider Refinitiv said output in the Lower 48 US states averaged 91.5 billion cubic feet per day (bcfd) so far in January.

Published 13 Jan, 2021 07:43pm

Markets

Azerbaijan's Absheron gas field output start-up put back to 2022

The site is being developed by SOCAR and France's Total and is part of Azeri plans to become a major gas exporter.
The field has estimated reserves of 350 billion cubic metres (bcm) of gas and 45 tonnes of gas condensate.

Published 13 Jan, 2021 07:41pm

Markets

Most major markets end higher on oil price gains

Dubai, Abu Dhabi gain for 5th straight session.
Crude prices hit highest level since Feb. 24.
CIB best performer on Egyptian benchmark.

Published 13 Jan, 2021 07:38pm

World

India wants Pfizer to do local study for approval

As of now, the pre-condition for any vaccine to be implemented in India is that you have to do a bridging trial.
Paul also said Russia's Sputnik V, a shot undergoing last-stage trials in India, will soon apply for emergency-use approval in the country.

Published 13 Jan, 2021 07:36pm

Business & Finance

Target holiday sales jump 17pc on strong online demand

Target's sales through Shipt same-day delivery service jumped more than 300% in the November-December period.
The retailer's store traffic also rose 4.3% during the holiday season as people combined their shopping trips and limited it to large retailers amid a surge in pandemic.

Published 13 Jan, 2021 07:32pm

Markets

Copper supported by low inventory and demand prospects

Benchmark copper on the London Metal Exchange (LME) traded little changed at $7,970.5 a tonne in official rings.
2021 will be a year of reflation, higher growth and strong demand for metals.

Published 13 Jan, 2021 07:28pm

Markets

Gold-backed ETFs end record 2020 with second month of outflows

Gold is traditionally used as a safe store of wealth, and investors rushed to hoard it as the pandemic swept through the global economy.
ETFs grew their holdings by 876 tonnes in 2020 - equivalent to around a quarter of the annual output of the world's gold mines.

Published 13 Jan, 2021 07:26pm

Markets

London Stock Exchange gets EU nod for $27bn takeover of Refinitiv

The European Commission, which oversees competition policy in the 27-nation European Union.
Infrastructure competition in trading services and access to financial data products on fair and equal terms is essential for the European economy and in particular for consumers and businesses.

Published 13 Jan, 2021 07:24pm

Business & Finance

Amazon takes on Netflix in India with cheaper mobile-only Prime Video plan

The Amazon Prime Video plan, meant for single users and available in standard definition quality, will cost 89 rupees ($1.22) per month initially.
Amazon said it was partnering with India's telecom major Bharti Airtel to roll out the plan to millions of its prepaid subscribers.

Published 13 Jan, 2021 07:22pm

Sports

Mathews returns to Sri Lanka squad for England tests

Batsman Dhananjaya de Silva and fast bowler Kasun Rajitha were both ruled out against England after suffering injuries in South Africa.
England blanked the hosts 3-0 in the test series on their last trip to Sri Lanka in 2018 but have key personnel missing from that touring party currently.

Published 13 Jan, 2021 07:18pm

Markets

FranceAgriMer puts 2020/21 wheat exports outside EU-27 at 7.3mn tonnes

FranceAgriMer this month adjusted its calculation of export and import data to consider Britain as a non-EU country.
Demand from China remained very strong both for soft wheat and barley, Marion Duval, deputy head of FranceAgriMer's grain unit.

Published 13 Jan, 2021 07:15pm

Markets

Russia's gold production down 6pc y/y to 288.98 tonne in Jan-Oct

The country also produced 796.11 tonnes of silver during the first ten months of the year.
The 813.20 tonnes produced over the same period in 2019.

Published 13 Jan, 2021 07:13pm

Gainers
Losers
Leaders

Stock	Price
Hala Enterpries / Jan 21 Hala Enterprises Limited(HAEL)	9.60 ▲ 2.10 (11.63%)
Premier Ins. / Jan 21 Premier Insurance Limited(PINL)	5.49 ▲ 0.74 (9.80%)
Sindh Abadgar / Jan 21 Sindh Abadgar Sugar Mills Limited(SASML)	12.50 ▲ 1.00 (8.70%)
Shaheen Ins. / Jan 21 Shaheen Insurance Company Limited(SHNI)	5.20 ▲ 0.39 (8.11%)
Fazal Cloth / Jan 21 Fazal Cloth Mills Limited(FZCM)	184.90 ▲ 26.05 (7.50%)
Island Tex. / Jan 21 Island Textile Mills Limited(ILTM)	1844.94 ▲ 128.71 (7.50%)
Khairpur / Jan 21 Khairpur Sugar Mills Limited(KPUS)	60.92 ▲ 4.25 (7.50%)
Rel.Cotton / Jan 21 Reliance Cotton Spinning Mills Limited(RCML)	150.80 ▲ 10.52 (7.50%)
Salfi Textile / Jan 21 Salfi Textile Mills Limited(SALT)	300.46 ▲ 40.46 (7.50%)
SILKBANK / Jan 21 Silkbank Limited(SILK)	1.29 ▲ 0.13 (7.50%)

Stock	Price
B.R.R. Mod. (R) / Jan 21 B.R.R. Guardian Modaraba (R)(BRRR)	2.79 ▼ 2.00 (-21.19%)
First AL-Noor Mod. / Jan 21 First Al-Noor Modaraba(FANM)	3.25 ▼ 0.50 (-13.33%)
First Equity Mod. / Jan 21 First Equity Modaraba(FEM)	3.15 ▼ 0.35 (-10.00%)
First Punjab Mod. / Jan 21 First Punjab Modaraba(FPJM)	2.57 ▼ 0.19 (-9.51%)
AKD Capital Ltd / Jan 21 AKD Capital Limited(AKDCL)	415.64 ▼ 18.68 (-7.50%)
John&Philips / Jan 21 Johnson & Phillips (Pakistan) Limited(JOPP)	44.77 ▼ 3.63 (-7.50%)
Data Agro / Jan 21 Data Agro Limited(DAAG)	17.08 ▼ 1.50 (-7.48%)
F.Treet Manuf.Mod / Jan 21 First Treet Manufacturing Modaraba(FTMM)	17.47 ▼ 2.32 (-7.47%)
Shadman Cotton / Jan 21 Shadman Cotton Mills Limited(SHCM)	19.60 ▼ 1.48 (-7.46%)
MACPAC Films / Jan 21 MACPAC Films Limited(MACFL)	24.51 ▼ 2.60 (-7.40%)

Stock	Volume
SILKBANK / Jan 21 Silkbank Limited(SILK)	42,706,000 ▼ 0.13
Unity Foods / Jan 21 Unity Foods Limited(UNITY)	41,064,248 ▼ 2.28
Hum Network / Jan 21 Hum Network Limited(HUMNL)	38,635,500 ▼ 0.51
TRG Pak. / Jan 21 TRG Pakistan Limited(TRG)	29,407,000 ▼ 7.02
Pakistan Refinery / Jan 21 Pakistan Refinery Limited(PRL)	28,848,000 ▼ 0.94
Power Cement / Jan 21 Power Cement Limited(POWER)	28,183,000 ▼ 0.49
Fauji Foods / Jan 21 Fauji Foods Limited(FFL)	22,225,500 ▼ 0.46
Lotte Chemical / Jan 21 Lotte Chemical Pakistan Limited(LOTCHEM)	21,122,000 ▼ 1.09
K-Electric Ltd / Jan 21 K-Electric Limited(KEL)	18,889,000 ▼ 0.11
Worldcall / Jan 21 Worldcall Telecom Limited(WTL)	16,950,000 ▼ 0.03

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Jan 20	160.55
USD PKR Interbank Buying / Jan 20	160.45
USD to Japanese Yen / Jan 20	103.89
USD to Swiss Franc / Jan 20	0.89
Pound Sterling to USD / Jan 20	1.36
Euro to USD / Jan 20	1.21

Stock	Volume
S&P 500 / Jan 20	3798.91
India Sensex / Jan 20	49398.29
Tokyo Nikkei / Jan 20	28633.46
Nasdaq / Jan 20	13197.18
Hang Seng / Jan 20	29642.28
FTSE 100 / Jan 20	6712.95
Dow Jones / Jan 20	30930.52
Germany DAX 30 / Jan 20	13815.06
France CAC40 / Jan 20	5598.61