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US retail sales decline further as COVID-19, lack of additional fiscal stimulus weigh

WASHINGTON :U.S. retail sales fell more than expected in November, likely weighed down by raging new COVID-19 infections and decreasing household income, adding to growing signs of a slowdown in the economy's recovery from the pandemic recession.

Markets

US Congress nears US$900 billion COVID-19 deal with direct checks but no local aid, liability shield -Politico

U.S. congressional negotiators neared a US$900 billion deal to address COVID-19, including direct payments to Americans but no financial aid for states and cities and no liability protections for businesses, Politico reported on Wednesday.

Markets

Bitcoin breaks above US$20,000 for first time

Bitcoin smashed through US$20,000 for the first time on Wednesday, its highest ever.

Markets

EU to help banks to jettison loans soured by COVID

The European Union set out plans on Wednesday to help banks to jettison soured loans more easily and continue lending to households and business hit by the COVID-19 pandemic.

Markets

Companies may face 2per cent fine for breaching EU cybersecurity rules

Large energy, transport and financial companies as well as digital providers and makers of medical and computer devices could be fined up to 2per cent of their global turnover for breaching EU cybersecurity rules under a European Commission proposal.

Markets

Facebook to test relaunched Instagram Lite in India

Facebook Inc said on Wednesday it is testing a new, less data-intensive version of its photo and video sharing app Instagram in India, a key growth market for the U.S. social media giant.

Markets

Futures rise on growing stimulus bets

U.S. stock index futures rose on Wednesday tracking further progress toward a bumper coronavirus stimulus package, while markets hoped for an affirmation of continued easy monetary policy from the Federal Reserve's last meeting for the year.

Markets

Deutsche Bank wins court case on Postbank takeover

Deutsche Bank does not have to pay former investors in its retail subsidiary Postbank a higher compensation than offered in its 2010 tender offer, a German court ruled on Wednesday.

Markets

BP takes majority stake in US carbon offset firm Finite Carbon

BP has acquired a majority stake in the largest U.S. carbon offset developer, Finite Carbon, the oil major said on Wednesday, as part of its climate goals and to develop a new revenue stream.

Markets

Japan beauty firm DHC under fire after CEO uses racial slur for Koreans

TOKYO: A major Japanese cosmetics firm faced online boycott calls on Wednesday (Dec 16) after its CEO used a racial slur for Koreans, and boasted his firm was "pure Japanese". DHC's Yoshiaki Yoshida made the comments in a message on the company's website in which he attacked rival Suntory,...

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