Business

Oil jumps 4% on fears Suez Canal blockage may last weeks

Oil prices rose more than 4% on Friday on worries global supplies of crude and refined products could be disrupted for weeks as workers try to dislodge a giant container ship blocking the Suez Canal. It was a rebound from a sharp decline the previous session on concerns that fresh coronavirus lockdowns in Europe would […]

Business

Sensex Tanks Over 400 Pts in Early Trade; Nifty Drops Below 14,800

Equity benchmark Sensex tumbled over 400 points in early trade on Monday, dragged by losses in index majors HDFC twins, ICICI Bank and Reliance Industries despite a positive trend in global markets. The 30-share BSE index was trading 434.90 points or 0.87 per cent lower at 49,594.93, and the broader NSE Nifty dropped 109.35 points […]

Business

Suez Canal Authority restarts tugging attempts to free stranded ship

Egypt’s Suez Canal Authority said on Friday that efforts by tug boats to free the stranded container ship had restarted after dredging operations were complete. “The tugging operations require the availability of a number of supporting factors including wind direction and tides, which makes it a complex technical process,” the authority said.

Business

Baidu, Tencent in U.S. extend slide after SEC actions amid U.S.-China tension

U.S.-listed shares of China based Baidu Inc and Tencent Music Entertainment group plunged this week, dropping as much as 33.5% and 48.5%, respectively, from Tuesday’s closing levels. They initially fell in tandem with a broad sell-off of tech and tech-related shares on Wednesday, when the Nasdaq shed more than 2%. They extended losses on Thursday […]

Business

GameStop up 13% more as ‘Reddit army’ bets on sales turnaround

“Meme” stock-in-chief GameStop jumped another 13% in value on Friday, building on a surge since results earlier this week that showed online sales improving and a much-hyped management reshuffle gathering pace. The video-game retailer, whose shares rose as high as $483 in a battle with short-sellers in January, has now risen more than five times […]

Business

GameStop swings between gains and losses, capping volatile week

“Meme” stock-in-chief GameStop swung between gains and losses on Friday, with the shares reversing course after rising 19% earlier in the session. Shares of the video game retailer were last down 4.1% at $176.18 in late afternoon trading. The stock, which had hit a record high of $483 in January, tumbled 34% the day after […]

Business

Allfunds, Europe’s largest IPO in 2021, set for Amsterdam exchange

Madrid-based Investment platform Allfunds confirmed on Wednesday that its initial public offering will happen on Euronext in Amsterdam. According to the company, the IPO in Amsterdam will take place within the next few weeks and at least a quarter of Allfunds’ existing shares will be sold, ANP reported. According to people close to the matter, […]