Taiwan’s export orders grew by more than expected in June and the government said the outlook for the island’s tech goods remains strong on demand for high-end chips.

World Business Watch: Taiwan export orders expand for 16th month

In India, wholesale auto despatches saw a sharp jump across segments in June compared to the same month last year as well as the preceding months. The reason for the sharp turnaround in June this year is because dealerships resumed stocking after lockdowns, which started April onwards.

World Business Watch: Auto sales in India sees sharp jump in June

Most of the countries negotiating a global overhaul of cross-border taxation of multinationals have backed plans for new rules where companies are taxed and a tax rate of at least 15%.

World Business Watch: 130 countries back global minimum corporate tax of 15%

In UK, fraud and error from a loan scheme to help businesses cope with the COVID-19 pandemic launched during COVID-19 pandemic it could cost British taxpayers up to 37 billion on top of some 60 billion dollars annually which is lost to criminals and mistakes a report has said.

World Business Watch: COVID loan fraud and error will cost UK taxpayers of billions pounds

The International Monetary Fund (IMF) has approved a 2.5 billion dollars loan for Sudan. Watch this report to know more.

World Business Watch: Sudan approved for debt relief, $2.5 billion funding by IMF

United Airlines confirmed its largest ever order for Boeing and Airbus jets. Watch this report to know more.

World Business Watch: Largest-ever order for boeing, airbus jets

Britain's financial regulator has said Binance, one of the world's largest cryptocurrency exchanges, cannot conduct any regulated activity and issued a warning to consumers about the platform, which is coming under growing scrutiny globally.

World Business Watch: Britain bans Binance's UK operations in latest cryptocurrency crackdown

United Kingdom will begin negotiations to join a trans-Pacific trade deal that it sees as crucial to its post-Brexit pivot away from Europe and towards geographically more distant but faster-growing economies.

United Kingdom begins negotiations to join trans-Pacific trade deal

At a time Indian economy is facing unprecedented challenges due to COVID-19 pandemic, Industry Federation CII has demanded Rs 3 trillion package additional stimulus. Watch this report to know more.

CII pitches for Rs 3 trillion fiscal stimulus

Brazil posted a trade surplus of $9.3 billion in May as record exports for that month helped fuel the second largest overall surplus ever. It is the second-highest on record following April's $10.3 billion surpluses.

World Business Watch: Brazil posts May trade surplus of $9.3 billion as exports hit historic high

Residential property markets in major economies will soar on monetary and fiscal support this year, and amid a recovery from the pandemic, according to Reuters polls, which showed upside risks to prices.

World Business Watch | Poll: Residential property markets will soar this year in major economies

The Ministry of Trade and Industry said that Singapore's economy grew by 1.3% in the first quarter of 2021 compared to a year earlier. This is the highest growth rate in Singapore since the fourth quarter of 2019.

World Business Watch: Singapore economy expanded more than expected in it's Q1

Bitcoin dipped 11.33% to $33,250 at 16:00 GMT on Sunday, losing $4,248.98 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is down 48% from the year's high of $64,895.22 on April 14.

Ether, the coin linked to the ethereum blockchain network, dropped 16.59 % to $1,915.34 on Sunday, losing $380.97 from its previous close.

Bitcoin markets operate 24/7, setting the stage for price swings at unpredictable hours.

"Many point to Bitcoin’s volatility as untenable," wrote RBC Capital Markets' Amy Wu Silverman in a research note published on Saturday. "Indeed, Bitcoin makes severe and dizzying swings."

Bitcoin had been under pressure after a series of tweets last week by billionaire Tesla Chief Executive and cryptocurrency backer Elon Musk, chiefly his reversal on Tesla accepting bitcoin as payment.

In addition, on Friday China cracked down on mining and trading of the largest cryptocurrency as part of ongoing efforts to prevent speculative and financial risks.

China's Financial Stability and Development Committee, chaired by Vice Premier Liu He, singled out bitcoin as the asset it needs to regulate more.

The statement, which came days after three Chinese industry bodies tightened a ban on banks and payment companies providing crypto-related services, was a sharp escalation of the country's push to stamp out speculation and fraud in virtual currencies.

China's latest campaign against crypto came after the U.S. Treasury Department on Thursday called for new rules that would require large cryptocurrency transfers to be reported to the Internal Revenue Service, and the Federal Reserve flagged the risks cryptocurrencies posed to financial stability.

Bitcoin dipped 11.33% to $33,250 at 16:00 GMT on Sunday, losing $4,248.98 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is down 48% from the year's high of $64,895.

Bitcoin dipped 11.33% to $33,250 at 16:00 GMT on Sunday, losing $4,248.98 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is down 48% from the year's high of $64,895.22 on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 16.59 % to $1,915.34 on Sunday, losing $380.97 from its previous close. Bitcoin markets operate 24/7, setting the stage for price swings at unpredictable hours. "Many point to Bitcoin’s volatility as untenable," wrote RBC Capital Markets' Amy Wu Silverman in a research note published on Saturday. "Indeed, Bitcoin makes severe and dizzying swings." Bitcoin had been under pressure after a series of tweets last week by billionaire Tesla Chief Executive and cryptocurrency backer Elon Musk, chiefly his reversal on Tesla accepting bitcoin as payment. In addition, on Friday China cracked down on mining and trading of the largest cryptocurrency as part of ongoing efforts to prevent speculative and financial risks. China's Financial Stability and Development Committee, chaired by Vice Premier Liu He, singled out bitcoin as the asset it needs to regulate more. The statement, which came days after three Chinese industry bodies tightened a ban on banks and payment companies providing crypto-related services, was a sharp escalation of the country's push to stamp out speculation and fraud in virtual currencies. China's latest campaign against crypto came after the U.S. Treasury Department on Thursday called for new rules that would require large cryptocurrency transfers to be reported to the Internal Revenue Service, and the Federal Reserve flagged the risks cryptocurrencies posed to financial stability.

Bitcoin falls 11.3 per cent to USD 33,250, ether down 16.6 per cent

The finance ministry said on Sunday that India challenged an international arbitration tribunal asking it to refund $ 1.2 billion to UK's Cairn Energy plc on grounds, as it never agreed to arbitrate over a "national tax dispute".

World Business Watch: India challenges international arbitration tribunal amidst dispute with Cairn

Britain's main opposition Labour Party said it would push for a vote in parliament on Monday over the support of United States' plans to introduce a global minimum corporation tax rate.

World Business Watch: UK's opposition pushes for vote in support of US minimum corporation tax plan

Bitcoin regained some lost ground to trade near $40,000 on Thursday, a day after a brutal selloff on concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world.

The biggest and most popular cryptocurrency rose 9% to a touch below $40,000, after plunging 14% on Wednesday to its lowest since late January. Smaller rival ether was up 11% at $2,700 at 0829 GMT, after its 28% tumble.

Its bounce came after prominent crypto backers such Ark Invest's Cathie Wood and carmaker Tesla's Elon Musk indicated their support on Wednesday. Wood said in an interview with Bloomberg that she was still sticking to her $500,000 forecast.

Musk reiterated that Tesla was holding on to its bitcoin investments.

"People consider this as a 'buy the dip' moment, and many consider this as 'the last chance to buy bitcoin cheap'," said Ruud Feltkamp, chief executive at crypto trading bot Cryptohopper. "The next few months will show if the bull market will continue or if it's the start of the end of its run."

Wednesday's declines in both digital assets were one of their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were outperforming traditional markets such as stocks and bonds.

The latest catalyst was a statement by Chinese financial industry bodies banning the use of cryptocurrencies in payment and settlement, and prohibiting institutions from providing crypto-related products or exchange services between cryptocurrencies and the yuan or foreign currencies.

But bitcoin had already been under pressure for almost a week after a series of tweets from Musk, a major cryptocurrency backer, chiefly his reversal on Tesla accepting bitcoin as payment.

Analysts said the upheaval was far from over.

"It's too early to say if the rebound we’ve seen off the lows in crypto has legs," said Chris Weston, head of research at brokerage Pepperstone in Melbourne.

"I question if we will get a chance to catch our breath or is there more volatility in store?" he said.

Weston pointed to how $9.13 billion of cryptocurrency positions had been liquidated across exchanges over 24 hours, and $532 billion in total volume transacted.

The slide forced some investors to close out leveraged positions in cryptocurrency derivatives, which caused prices to fall further and knocked digital assets down into a lower trading range, traders said.

Coming off a six-fold jump on the back of rising usage in non-fungible tokens on digital art platforms, ether's selloff was far more damaging with the digital currency trading 39% below record highs.

James Quinn, managing director at Q9 Capital, a Hong Kong-based cryptocurrency private wealth manager, said the selling reflected huge crowded positions in ether.

"Sometimes a market event is looking for a cause. I think this is about positioning. Over the long term, maybe it’s positive because a very crowded trade from a lot of new entrants means there are a lot of new entrants," Quinn added.

Still, ether is up more than 270% so far this year and bitcoin's year-to-date gains stand at 37%.

While some retail traders saw missed opportunities in the slide, others saw the rout as a chance to pick up digital assets on the cheap.

Milko Markov, an independent London-based trader, said he had been buying ether.

"Those with a bit more experience in the crypto market know two cardinal rules: don't leverage and dollar cost average," he said. (Graphic: Bitcoin slumped 14% on May 19 - worst selloff since March 2020.

Bitcoin regained some lost ground to trade near $40,000 on Thursday, a day after a brutal selloff on concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world.

Bitcoin regained some lost ground to trade near $40,000 on Thursday, a day after a brutal selloff on concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world. The biggest and most popular cryptocurrency rose 9% to a touch below $40,000, after plunging 14% on Wednesday to its lowest since late January. Smaller rival ether was up 11% at $2,700 at 0829 GMT, after its 28% tumble. Its bounce came after prominent crypto backers such Ark Invest's Cathie Wood and carmaker Tesla's Elon Musk indicated their support on Wednesday. Wood said in an interview with Bloomberg that she was still sticking to her $500,000 forecast. Musk reiterated that Tesla was holding on to its bitcoin investments. "People consider this as a 'buy the dip' moment, and many consider this as 'the last chance to buy bitcoin cheap'," said Ruud Feltkamp, chief executive at crypto trading bot Cryptohopper. "The next few months will show if the bull market will continue or if it's the start of the end of its run." Wednesday's declines in both digital assets were one of their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were outperforming traditional markets such as stocks and bonds. The latest catalyst was a statement by Chinese financial industry bodies banning the use of cryptocurrencies in payment and settlement, and prohibiting institutions from providing crypto-related products or exchange services between cryptocurrencies and the yuan or foreign currencies. But bitcoin had already been under pressure for almost a week after a series of tweets from Musk, a major cryptocurrency backer, chiefly his reversal on Tesla accepting bitcoin as payment. Analysts said the upheaval was far from over. "It's too early to say if the rebound we’ve seen off the lows in crypto has legs," said Chris Weston, head of research at brokerage Pepperstone in Melbourne. "I question if we will get a chance to catch our breath or is there more volatility in store?" he said. Weston pointed to how $9.13 billion of cryptocurrency positions had been liquidated across exchanges over 24 hours, and $532 billion in total volume transacted. The slide forced some investors to close out leveraged positions in cryptocurrency derivatives, which caused prices to fall further and knocked digital assets down into a lower trading range, traders said. Coming off a six-fold jump on the back of rising usage in non-fungible tokens on digital art platforms, ether's selloff was far more damaging with the digital currency trading 39% below record highs. James Quinn, managing director at Q9 Capital, a Hong Kong-based cryptocurrency private wealth manager, said the selling reflected huge crowded positions in ether. "Sometimes a market event is looking for a cause. I think this is about positioning. Over the long term, maybe it’s positive because a very crowded trade from a lot of new entrants means there are a lot of new entrants," Quinn added. Still, ether is up more than 270% so far this year and bitcoin's year-to-date gains stand at 37%. While some retail traders saw missed opportunities in the slide, others saw the rout as a chance to pick up digital assets on the cheap. Milko Markov, an independent London-based trader, said he had been buying ether. "Those with a bit more experience in the crypto market know two cardinal rules: don't leverage and dollar cost average," he said. (Graphic: Bitcoin slumped 14% on May 19 - worst selloff since March 2020.

Bitcoin's star backers, dip buyers help cryptos recover

British telecoms giant Vodafone said Tuesday it had rebounded into annual profit, as it cut debt after the flotation of its European phone mast division.

Profit after tax hit 112 million euros ($136 million) in the 12 months to the end of March, Vodafone said in a results statement that also revealed plans for more investment.

The group had suffered a net loss of 920 million euros in 2019/20, when its performance was skewed by a vast legal charge in India.

In 2020/21, Vodafone cut its huge debt pile to 40.5 billion euros, thanks to the initial public offering of the phone mast unit Vantage Towers.

However, sales dipped 2.6 percent to 43.8 billion euros as the coronavirus pandemic slammed demand for global travel and weighed on roaming revenues.

Vodafone meanwhile vowed to refocus on new generation connectivity and digital services in Europe and Africa, in the wake of the Covid-19 crisis.

"The world has changed. The pandemic has shown how critical connectivity and digital services are to society," said chief executive Nick Read.

"Vodafone is strongly positioned and through increased investment, we are taking action now to ensure we play a leadership role and capture the opportunities that these changes create."

The firm's share price slid 5.8 percent to 133.44 pence in midday deals on London's rising FTSE 100.

"These are not results to shoot the lights out, but there are signs of measured progress within an extremely competitive sector," said Interactive Investor analyst Richard Hunter.

Vodafone floated Vantage Towers in Frankfurt in March, valuing the division at around 12 billion euros.

Vodafone raised 2.3 billion euros in the IPO, although it remains a majority shareholder.

Vantage Towers' portfolio includes 82,000 macro sites -- towers, masts and rooftops -- across 10 European countries. 
&nbsp;

British telecoms giant Vodafone said Tuesday it had rebounded into annual profit, as it cut debt after the flotation of its European phone mast division. Profit after tax hit 112 million euros ($136 million) in the 12 months to the end of March, Vodafone said in a results statement that also revealed plans for more investment.

British telecoms giant Vodafone said Tuesday it had rebounded into annual profit, as it cut debt after the flotation of its European phone mast division. Profit after tax hit 112 million euros ($136 million) in the 12 months to the end of March, Vodafone said in a results statement that also revealed plans for more investment. The group had suffered a net loss of 920 million euros in 2019/20, when its performance was skewed by a vast legal charge in India. In 2020/21, Vodafone cut its huge debt pile to 40.5 billion euros, thanks to the initial public offering of the phone mast unit Vantage Towers. However, sales dipped 2.6 percent to 43.8 billion euros as the coronavirus pandemic slammed demand for global travel and weighed on roaming revenues. Vodafone meanwhile vowed to refocus on new generation connectivity and digital services in Europe and Africa, in the wake of the Covid-19 crisis. "The world has changed. The pandemic has shown how critical connectivity and digital services are to society," said chief executive Nick Read. "Vodafone is strongly positioned and through increased investment, we are taking action now to ensure we play a leadership role and capture the opportunities that these changes create." The firm's share price slid 5.8 percent to 133.44 pence in midday deals on London's rising FTSE 100. "These are not results to shoot the lights out, but there are signs of measured progress within an extremely competitive sector," said Interactive Investor analyst Richard Hunter. Vodafone floated Vantage Towers in Frankfurt in March, valuing the division at around 12 billion euros. Vodafone raised 2.3 billion euros in the IPO, although it remains a majority shareholder. Vantage Towers' portfolio includes 82,000 macro sites -- towers, masts and rooftops -- across 10 European countries.

Vodafone edges back into annual profit

Billionaire investor Warren Buffett has confirmed that the vice-chairman of his Berkshire Hathaway investment conglomerate, Greg Abel, will succeed him as chief executive of the company.

World Business News: Warren Buffett names Greg Abel as next CEO of Berkshire Hathaway

Walmart-owned Flipkart said on Thursday that it will acquire Cleartrip, one of India's oldest online travel technology companies. Flipkart will acquire 100 per cent of Cleartrip's shareholding, it said in a statement.

Cleartrip will continue to operate as a separate brand. However, its operations will be acquired by Flipkart. All employees of Cleartrip will be retained.

The value of the deal has not been disclosed.

"The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we diversify and look at new areas of growth, this investment will help strengthen our wide range of offerings for customers," Flipkart Group CEO Kalyan Krishnamurthy said.

Also Read | <a href="https://www.wionews.com/technology/over-20-chinese-tech-giants-make-public-pact-to-abide-by-anti-monopoly-guidelines-377734">Over 20 Chinese tech giants make public pact to abide by anti-monopoly guidelines</a>

He added that the Cleartrip team, with its deep industry knowledge and technology capabilities, will help Flipkart Group provide deeper value and travel experiences for customers.

Stuart Crighton, CEO and co-founder of Cleartrip, said the company has been a pioneer in capitalising on technology to simplify the travel experience for our customers.

"This product-driven focus has enabled us to become the preferred travel partner of choice for consumers in a wide range of markets in the region," he added.

The deal closing will be subject to applicable regulatory approvals.

(With inputs from agencies)

Walmart-owned Flipkart said on Thursday that it will acquire Cleartrip, one of India's oldest online travel technology companies. Flipkart will acquire 100 per cent of Cleartrip's shareholding, it said in a statement.

Walmart-owned Flipkart said on Thursday that it will acquire Cleartrip, one of India's oldest online travel technology companies. Flipkart will acquire 100 per cent of Cleartrip's shareholding, it said in a statement. Cleartrip will continue to operate as a separate brand. However, its operations will be acquired by Flipkart. All employees of Cleartrip will be retained. The value of the deal has not been disclosed. "The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we diversify and look at new areas of growth, this investment will help strengthen our wide range of offerings for customers," Flipkart Group CEO Kalyan Krishnamurthy said. Also Read | Over 20 Chinese tech giants make public pact to abide by anti-monopoly guidelines He added that the Cleartrip team, with its deep industry knowledge and technology capabilities, will help Flipkart Group provide deeper value and travel experiences for customers. Stuart Crighton, CEO and co-founder of Cleartrip, said the company has been a pioneer in capitalising on technology to simplify the travel experience for our customers. "This product-driven focus has enabled us to become the preferred travel partner of choice for consumers in a wide range of markets in the region," he added. The deal closing will be subject to applicable regulatory approvals. (With inputs from agencies)

Walmart-owned Flipkart to acquire Cleartrip

TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said on Thursday it had raised $280 million from new and existing investors, including Google and New Enterprise Associates.

The company, which did not disclose its latest valuation, was valued at $2.6 billion after raising funds in May 2019, according to data platform PitchBook. Including the latest funding, TAE has raised $880 million till date.

The fresh capital will mostly be deployed to commercialize TAE`s power management technology, which is used for electrical grid applications and faster charging of electric vehicles, the company said.

Founded in 1998 and formerly known as Tri Alpha Energy, TAE Technologies kept a low profile for years and operated in stealth mode. Over the years, it has drawn the interest of investors including Venrock, brokerage Charles Schwab and the Kuwait Investment Authority.

The company is also working on producing baseload power from the Hydrogen-Boron fuel cycle, which is an environment-friendly fuel source. Baseload power refers to the minimum amount of power that needs to be supplied to an electrical grid at any given point in time.

Prior to the latest funding round, TAE had raised about $130 million earlier this year.

TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said on Thursday it had raised $280 million from new and existing investors, including Google and New Enterprise Associates.

TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said on Thursday it had raised $280 million from new and existing investors, including Google and New Enterprise Associates. The company, which did not disclose its latest valuation, was valued at $2.6 billion after raising funds in May 2019, according to data platform PitchBook. Including the latest funding, TAE has raised $880 million till date. The fresh capital will mostly be deployed to commercialize TAE`s power management technology, which is used for electrical grid applications and faster charging of electric vehicles, the company said. Founded in 1998 and formerly known as Tri Alpha Energy, TAE Technologies kept a low profile for years and operated in stealth mode. Over the years, it has drawn the interest of investors including Venrock, brokerage Charles Schwab and the Kuwait Investment Authority. The company is also working on producing baseload power from the Hydrogen-Boron fuel cycle, which is an environment-friendly fuel source. Baseload power refers to the minimum amount of power that needs to be supplied to an electrical grid at any given point in time. Prior to the latest funding round, TAE had raised about $130 million earlier this year.

Google-backed nuclear energy firm TAE Technologies raises USD 280 million

The S&amp;P 500 and the Dow hit record highs on Friday as economy-linked stocks including banks and industrials gained on optimism around strong U.S. economic growth.

Financial stocks rose 0.6%, more than any other S&amp;P sector, with Bank of America Corp, Citigroup Inc and JPMorgan Chase &amp; Co rising between 0.5% and 0.9%.

The banks will kick off the first-quarter earnings season next week, and analysts expect profits for S&amp;P 500 firms to have jumped about 25% year on year, the strongest performance for the quarter since 2018, according to Refinitiv IBES data.

"We have had a tremendous run recently and there's some excitement about how strong corporate America's earnings will be," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.

"It is a chance to justify the rallies that we have seen recently to new highs."

Data on Friday showed U.S. producer prices increased more than expected in March, resulting in the largest annual gain in nine-and-a-half years, likely marking the start of higher inflation.

However, the Federal Reserve's officials have maintained that rising prices would be transitory because of the labor market's slack and the U.S. central bank plans to keep interest rates lower for a substantial period.

"Historically, the reaction to PPI (producer prices index) number like that would have had markets selling off but clearly we are being made to understand that the Fed's inflation target is truly asymmetric," said Art Hogan, chief market strategist at National Securities in New York.

"If the Fed is willing to ignore high inflation in the near term, investors should likely do the same."

U.S. President Joe Biden asked Congress to sharply increase spending to combat climate change and gun violence in a budget that marks a sharp departure from his predecessor, Donald Trump.

At 11:27 a.m. ET, the Dow Jones Industrial Average rose 76.22 points, or 0.23%, to 33,579.79, the S&amp;P 500 gained 4.60 points, or 0.11%, to 4,101.77 and the Nasdaq Composite lost 20.53 points, or 0.15%, to 13,808.78.

The communication services index, which houses high-flying names, inched lower.

Still, the Russell 1000 growth index, which comprises mainly technology-related stocks, is set to outperform its value counterpart, made up of mostly financials and energy names, for a second consecutive week following the recent pullback in longer-dated Treasury yields.

Bank of America's weekly fund flow figures showed investors have pumped more money into equities over the past five months than in the last 12 years.

Honeywell gained about 2% as Jefferies and J.P. Morgan raised their price targets on the U.S. aero parts maker's shares.

Advancing issues outnumbered decliners by a 1-to-1 ratio on the NYSE and declining issues outnumbered advancers by a 1.5-to-1 ratio on the Nasdaq.

The S&amp;P 500 posted 37 new 52-week highs and no new lows, while the Nasdaq recorded 124 new highs and 31 new lows.

The S&P 500 and the Dow hit record highs on Friday as economy-linked stocks including banks and industrials gained on optimism around strong U.S. economic growth.

The S&P 500 and the Dow hit record highs on Friday as economy-linked stocks including banks and industrials gained on optimism around strong U.S. economic growth. Financial stocks rose 0.6%, more than any other S&P sector, with Bank of America Corp, Citigroup Inc and JPMorgan Chase & Co rising between 0.5% and 0.9%. The banks will kick off the first-quarter earnings season next week, and analysts expect profits for S&P 500 firms to have jumped about 25% year on year, the strongest performance for the quarter since 2018, according to Refinitiv IBES data. "We have had a tremendous run recently and there's some excitement about how strong corporate America's earnings will be," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina. "It is a chance to justify the rallies that we have seen recently to new highs." Data on Friday showed U.S. producer prices increased more than expected in March, resulting in the largest annual gain in nine-and-a-half years, likely marking the start of higher inflation. However, the Federal Reserve's officials have maintained that rising prices would be transitory because of the labor market's slack and the U.S. central bank plans to keep interest rates lower for a substantial period. "Historically, the reaction to PPI (producer prices index) number like that would have had markets selling off but clearly we are being made to understand that the Fed's inflation target is truly asymmetric," said Art Hogan, chief market strategist at National Securities in New York. "If the Fed is willing to ignore high inflation in the near term, investors should likely do the same." U.S. President Joe Biden asked Congress to sharply increase spending to combat climate change and gun violence in a budget that marks a sharp departure from his predecessor, Donald Trump. At 11:27 a.m. ET, the Dow Jones Industrial Average rose 76.22 points, or 0.23%, to 33,579.79, the S&P 500 gained 4.60 points, or 0.11%, to 4,101.77 and the Nasdaq Composite lost 20.53 points, or 0.15%, to 13,808.78. The communication services index, which houses high-flying names, inched lower. Still, the Russell 1000 growth index, which comprises mainly technology-related stocks, is set to outperform its value counterpart, made up of mostly financials and energy names, for a second consecutive week following the recent pullback in longer-dated Treasury yields. Bank of America's weekly fund flow figures showed investors have pumped more money into equities over the past five months than in the last 12 years. Honeywell gained about 2% as Jefferies and J.P. Morgan raised their price targets on the U.S. aero parts maker's shares. Advancing issues outnumbered decliners by a 1-to-1 ratio on the NYSE and declining issues outnumbered advancers by a 1.5-to-1 ratio on the Nasdaq. The S&P 500 posted 37 new 52-week highs and no new lows, while the Nasdaq recorded 124 new highs and 31 new lows.

S&P 500, Dow at all-time high as banks, industrial rise

Automobile companies posted exponential growth in their year-on-year wholesale numbers in March mainly because of the low base effect due to COVID-related disruptions last year.

World Business Watch: Base-effect drives March auto sales to new highs in India

A measure of US manufacturing activity soared to its highest level in more than 37 years in March, driven by strong growth in new orders, the clearest sign yet that a much anticipated economic boom was probably underway.

World Business Watch: US manufacturing sector index races to 37-year high in March

Japanese big manufacturers’ sentiment improved to pre-pandemic levels in the first quarter as companies planned to increase capital expenditure this year.

World Business Watch: Japan business sentiments improves to pre-pandemic levels

Crude prices rose on Thursday, recouping some of the previous session's losses on expectations that a meeting of OPEC and its allies later on Thursday (April 01) would yield output constraint in the face of resurgent COVID-19 infections in some regions.

World Business Watch: Oil gains ahead of OPEC+ meet on output policy

The banking industry is not just limited to parking deposits and availing loans, it has expanded its scope in a much bigger way. AU Small Finance Bank's Group Head, Rishi Dhariwal tells you more on this.

Rishi Dhariwal: Modern banks cover entire gamut of financial services

Underscoring the fragile nature of the economy's recovery from last year's slump, Japanese retail sales fell for the third straight month in February as households kept a lid on expenditure amid the coronavirus emergency.

World Business Watch: Japan's retail sales fall for third straight month

Hyundai of South Korea plans to temporarily suspend production at Ulsan No.1 plant due to chip shortage between April 5 and April 13. The affected Ulsan factory produces 311,000 vehicles annually including the Kona Electric and Ioniq 5.

World Business Watch: Hyundai to suspend production in South Korea due to chip shortage

China is planning to establish a joint venture with its tech giants. It is to oversee the data that is collected from hundreds of millions of consumers.

World Business Watch: China plans to control tech firms' data

The number of Americans filing new claims for unemployment benefits dropped to a one-year low, providing a powerful boost to an economy on the verge of stronger growth.

World Business Watch: United States weekly jobless claims drop to one-year low

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World Business Watch: Taiwan export orders expand for 16th month

World Business Watch: Auto sales in India sees sharp jump in June

World Business Watch: 130 countries back global minimum corporate tax of 15%

World Business Watch: COVID loan fraud and error will cost UK taxpayers of billions pounds

World Business Watch: Sudan approved for debt relief, $2.5 billion funding by IMF

World Business Watch: Largest-ever order for boeing, airbus jets

World Business Watch: Britain bans Binance's UK operations in latest cryptocurrency crackdown

United Kingdom begins negotiations to join trans-Pacific trade deal

CII pitches for Rs 3 trillion fiscal stimulus

World Business Watch: Brazil posts May trade surplus of $9.3 billion as exports hit historic high

World Business Watch | Poll: Residential property markets will soar this year in major economies

World Business Watch: Singapore economy expanded more than expected in it's Q1

Bitcoin falls 11.3 per cent to USD 33,250, ether down 16.6 per cent

World Business Watch: India challenges international arbitration tribunal amidst dispute with Cairn

World Business Watch: UK's opposition pushes for vote in support of US minimum corporation tax plan

Bitcoin's star backers, dip buyers help cryptos recover

Vodafone edges back into annual profit

World Business News: Warren Buffett names Greg Abel as next CEO of Berkshire Hathaway

Walmart-owned Flipkart to acquire Cleartrip

Google-backed nuclear energy firm TAE Technologies raises USD 280 million

S&P 500, Dow at all-time high as banks, industrial rise

World Business Watch: Base-effect drives March auto sales to new highs in India

World Business Watch: US manufacturing sector index races to 37-year high in March

World Business Watch: Japan business sentiments improves to pre-pandemic levels

World Business Watch: Japan business sentiments improves to pre-pandemic levels

World Business Watch: Oil gains ahead of OPEC+ meet on output policy