The UK's jobless rate has unexpectedly declined in the three months to January this year. It's a change that partly reflected people giving up their job hunt as lockdown measures tightened at the start of the main jobless rate.

World Business Watch: UK jobless rate down to 5% till January

A group of New York City business leaders has urged officials to refrain from raising taxes as it could jeopardize the state’s recovery from the pandemic and pressure companies to relocate their operations, triggering major economic losses.

World Business Watch: NYC business leaders warn new taxes could cripple city's recovery

Tesla Inc’s use of in-car cameras to record and transmit video footage of passengers to develop self-driving technology. Now it has raised privacy concerns around the world.

World Business Watch: Tesla's in-car cameras pose privacy concerns

US Federal Reserve said the world's largest economy is heading for its strongest growth in nearly 40 years and Central Bank policymakers are pledging to keep their foot on the gas despite an expected surge of inflation.

World Business Watch: US Fed expects growth surge, inflation jump expects in 2021

Argentina's industrial output should grow more than 6% this year versus last year. Argentina's economy as a whole is expected to expand 5% to 6% during the year, based on initial data and depending on how the novel coronavirus evolves.

World Business Watch: Argentina's industrial growth economy contracted

British airline Virgin Atlantic, which has been hammered by the COVID-19 pandemic like much of the sector, is set to raise $222.75 million in new financing.

World Business Watch: Virgin Atlantic set to raise $222.75 Million in new financing

United Kingdom businesses are more likely to expect a rebound in activity this year than their counterparts abroad, and expectations of a pick-up in growth are stronger than at any point since 2015, a survey has shown that.

World Business Watch: UK firms see sharper 2021 rebound, faster than counterparts abroad

German carmaker Volkswagen plans to cut up to 4,000 jobs at its plants in Germany by offering early or partial retirement to older employees. It's a move that could cost several hundred million dollars to German auto major.

World Business Watch: German carmaker Volkswagen to cut up to 4,000 jobs via early retirement

Renault's current stake is worth over $1.41 Billion and Renault Group has announced that it plans to sell off its entire stake in Germany's Daimler AG to drive forward the deleveraging of its automotive business.

World Business Watch: Renault To Sell Stake In Germany's Daimler

Italy plans to launch a fund worth up to $47.8 billion this month to help its companies hit by the COVID-19 crisis raise capital and strengthen their balance sheets.

World Business Watch: Italy set to launch fund for virus-hit firms

OPEC has said a recovery in oil prices and demand will be focused on the second half of the year as the impact of the COVID-19 lingers as a headwind for a group and its allies in supporting the market.

World Business Watch: 2021 oil demand recovery in second half

Industry group Make UK said that three out of every four British manufacturers have experienced Brexit-linked delays during the past three months and the government must sort out problems that are still affecting ports.

World Business Watch: Three-quarters of UK manufacturers hit by Brexit delays

A decision by OPEC+ to continue with an output cut would undermine consumption-led recovery and hurt consumers in oil buying nations, Indian oil minister Dharmendra Pradhan told Reuters on Friday.

India says OPEC+ decision to hit consumption-led recovery, hurt customers

A group of major oil producers has agreed to extend production cuts for another month despite a recent price surge. OPEC and its allied producers said that they would largely roll over production cuts during the month of April.

World Business Watch: Oil prices surge as OPEC and its allies extend production cuts

Standard Chartered PLC (StanChart) on Thursday posted a 57% fall in annual profit, missing analyst estimates, on higher credit impairments due to the COVID-19 pandemic.

StanChart, which earns the bulk of its revenue in Asia, posted a pretax profit of $1.61 billion. That compared with $3.71 billion in 2019 and the $1.85 billion average of analyst forecasts compiled by the bank.

Credit impairments last year more than doubled compared with a year earlier to $2.3 billion because of the pandemic, the bank said, but noted the majority of these took place in the first half of the year.

The London-headquartered lender said it would return capital to investors via a 9 cents per share dividend and $254 million buyback, with the total payout being the maximum permitted under temporary 'guardrails' set by the Bank of England.

The central bank last year told Britain's largest lenders to suspend dividend payments and share buybacks for 2020 to help them maintain capital buffers against an expected hit to loan books from the pandemic.

"Having now resumed it, we expect to be able to increase the full-year dividend per share over time as we execute our strategy and progress towards a 10% return on tangible equity," Jose Vinals, Standard Chartered's chairman, said in the exchange filing.

The bank said its return on tangible equity, a key profit metric, would climb from 3% to 7% by 2023.

It also said overall income in 2021 is likely to be similar to 2020's because of the impact of global interest rate cuts.

Standard Chartered PLC (StanChart) on Thursday posted a 57% fall in annual profit, missing analyst estimates, on higher credit impairments due to the COVID-19 pandemic.

Standard Chartered PLC (StanChart) on Thursday posted a 57% fall in annual profit, missing analyst estimates, on higher credit impairments due to the COVID-19 pandemic. StanChart, which earns the bulk of its revenue in Asia, posted a pretax profit of $1.61 billion. That compared with $3.71 billion in 2019 and the $1.85 billion average of analyst forecasts compiled by the bank. Credit impairments last year more than doubled compared with a year earlier to $2.3 billion because of the pandemic, the bank said, but noted the majority of these took place in the first half of the year. The London-headquartered lender said it would return capital to investors via a 9 cents per share dividend and $254 million buyback, with the total payout being the maximum permitted under temporary 'guardrails' set by the Bank of England. The central bank last year told Britain's largest lenders to suspend dividend payments and share buybacks for 2020 to help them maintain capital buffers against an expected hit to loan books from the pandemic. "Having now resumed it, we expect to be able to increase the full-year dividend per share over time as we execute our strategy and progress towards a 10% return on tangible equity," Jose Vinals, Standard Chartered's chairman, said in the exchange filing. The bank said its return on tangible equity, a key profit metric, would climb from 3% to 7% by 2023. It also said overall income in 2021 is likely to be similar to 2020's because of the impact of global interest rate cuts.

Standard Chartered profit falls 57 per cent as COVID inflates bad loans

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today.

It was&nbsp;around the same time last year that&nbsp;nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic. And within a year, the stock markets have more than doubled in some regions including India.

On the first day of the third week of February, the stock markets today are once again at record high levels.

Global shares rose for the 11th day in a row to reach a peak with Japan's Nikkei touching 30,000 mark for the first time in more than three decades while India's Sensex also crossed 52,000 mark for the first time closing at 52,154.13 registering gains of 609.83 while Nifty 50 also gained 1% to end at 15,314.70. Backing the markets across the globe is the optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington.

The UK has already issued a first COVID-19 vaccine dose to more than 15 million people across its priority groups and the inoculation is being done in many parts of the world at a faster pace.

However, China, Taiwan and Hong Kong markets are closed for the Lunar New Year holiday today and US stock markets are also shut for the Presidents'&nbsp;Day holiday. So, this rally could be visible there once they open tomorrow.

Receiving a positive cue from their Asia-Pacific peers, the European stocks have opened in positive territory with backing from the successful vaccine rollouts that are fueling hopes of a global economic recovery.

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today. It was around the same time last year that nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic.

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today. It was around the same time last year that nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic. And within a year, the stock markets have more than doubled in some regions including India. On the first day of the third week of February, the stock markets today are once again at record high levels. Global shares rose for the 11th day in a row to reach a peak with Japan's Nikkei touching 30,000 mark for the first time in more than three decades while India's Sensex also crossed 52,000 mark for the first time closing at 52,154.13 registering gains of 609.83 while Nifty 50 also gained 1% to end at 15,314.70. Backing the markets across the globe is the optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington. The UK has already issued a first COVID-19 vaccine dose to more than 15 million people across its priority groups and the inoculation is being done in many parts of the world at a faster pace. However, China, Taiwan and Hong Kong markets are closed for the Lunar New Year holiday today and US stock markets are also shut for the Presidents' Day holiday. So, this rally could be visible there once they open tomorrow. Receiving a positive cue from their Asia-Pacific peers, the European stocks have opened in positive territory with backing from the successful vaccine rollouts that are fueling hopes of a global economic recovery.

Surging global stock markets mark fading of economic pessimism

Tokyo's benchmark Nikkei index jumped nearly two percent Monday on hopes for business recovery, closing above the psychologically important 30,000 mark for the first time in more than three decades.

The Nikkei 225 index rose 1.91 percent, or 564.08 points, to 30,084.15, the highest close since 1990.

The broader Topix index advanced 1.04 percent, or 20.06 points, to 1,953.94.

"The 30,000 mark is symbolic but it's still a waypoint," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

"Market sentiment has been supported by hopes for business recovery ahead of the nation's first vaccination," Horiuchi told AFP.

The coronavirus vaccine rollout is scheduled to start as early as Wednesday in Japan for healthcare professionals.

"Hopes for stimulus and monetary easing are also high, which helped bolster positive sentiment, but profit-taking could emerge at this level as the market is overheating," he added.

Masayuki Kubota, chief strategist at Rakuten Securities, said: "The Nikkei index is climbing as central banks in Japan, the United States and Europe keep their massive monetary easing policies in place because of the pandemic."

Ahead of the opening bell, the government said Japan's economy shrank in 2020 for the first time in more than a decade as it was battered by the coronavirus but the contraction was less than expected.

"The market largely shrugged off the GDP figures, which were already factored in," Horiuchi said.

The dollar fetched 105.02 yen in Asian afternoon trade, against 104.91 yen in New York late Friday.

Investors were paying attention to the impact of a 7.3-magnitude earthquake, which hit northeastern Japan late Saturday as news reports said more than 150 people were injured and shinkansen bullet train services were suspended.

"There was a chilling moment after the powerful quake in the Tohoku region this weekend, but the impact on the market seems to be limited," Okasan Online Securities said.

In Tokyo trading, SoftBank Group surged 2.12 percent to 10,005 yen after releasing strong earnings last week, while Uniqlo casual wear chain operator Fast Retailing jumped 4.09 percent to 99,460 yen.

Nissan plunged 2.83 percent to 609.9 yen following a news report that Apple had approached it in recent months about self-driving cars, which did not move forward. Nissan denied it was in talks with the US tech giant.

Toyota rose 0.51 percent to 8,456 yen with Honda up 1.09 percent at 3,052 yen.

Online mall giant and mobile carrier Rakuten plunged 6.48 percent to 1,110 yen after it reported a massive annual loss last week.

Tokyo's benchmark Nikkei index jumped nearly two percent Monday on hopes for business recovery, closing above the psychologically important 30,000 mark for the first time in more than three decades.

Tokyo's benchmark Nikkei index jumped nearly two percent Monday on hopes for business recovery, closing above the psychologically important 30,000 mark for the first time in more than three decades. The Nikkei 225 index rose 1.91 percent, or 564.08 points, to 30,084.15, the highest close since 1990. The broader Topix index advanced 1.04 percent, or 20.06 points, to 1,953.94. "The 30,000 mark is symbolic but it's still a waypoint," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities. "Market sentiment has been supported by hopes for business recovery ahead of the nation's first vaccination," Horiuchi told AFP. The coronavirus vaccine rollout is scheduled to start as early as Wednesday in Japan for healthcare professionals. "Hopes for stimulus and monetary easing are also high, which helped bolster positive sentiment, but profit-taking could emerge at this level as the market is overheating," he added. Masayuki Kubota, chief strategist at Rakuten Securities, said: "The Nikkei index is climbing as central banks in Japan, the United States and Europe keep their massive monetary easing policies in place because of the pandemic." Ahead of the opening bell, the government said Japan's economy shrank in 2020 for the first time in more than a decade as it was battered by the coronavirus but the contraction was less than expected. "The market largely shrugged off the GDP figures, which were already factored in," Horiuchi said. The dollar fetched 105.02 yen in Asian afternoon trade, against 104.91 yen in New York late Friday. Investors were paying attention to the impact of a 7.3-magnitude earthquake, which hit northeastern Japan late Saturday as news reports said more than 150 people were injured and shinkansen bullet train services were suspended. "There was a chilling moment after the powerful quake in the Tohoku region this weekend, but the impact on the market seems to be limited," Okasan Online Securities said. In Tokyo trading, SoftBank Group surged 2.12 percent to 10,005 yen after releasing strong earnings last week, while Uniqlo casual wear chain operator Fast Retailing jumped 4.09 percent to 99,460 yen. Nissan plunged 2.83 percent to 609.9 yen following a news report that Apple had approached it in recent months about self-driving cars, which did not move forward. Nissan denied it was in talks with the US tech giant. Toyota rose 0.51 percent to 8,456 yen with Honda up 1.09 percent at 3,052 yen. Online mall giant and mobile carrier Rakuten plunged 6.48 percent to 1,110 yen after it reported a massive annual loss last week.

Tokyo's Nikkei closes above 30,000, first time since 1990

India will go ahead with a complete ban on investment in cryptocurrencies, while providing existing investors a transition period to exit their holdings.&nbsp;

Cryptocurrency isn’t fiat currency backed by the Reserve Bank of India and its usage in all forms will be banned through the new law that will be introduced in Parliament.

This would include a ban on transacting directly via foreign exchanges.

Seven million investors hold cryptocurrencies in India worth more than one billion dollars.&nbsp;The ban won’t be enforced overnight and cryptocurrency investors will be given a transition period of three-to-six months after the implementation of the new law to liquidate their investments. The proposed ban --- is part of a comprehensive bill on crypto and digital currencies. It may be introduced in the ongoing budget session of parliament.

Does this mean the end of the road for cryptocurrencies in India?&nbsp;

Not really, the bill may include certain exceptions. They could allow the promotion of the underlying technology. Like block chain, the decentralized digital ledger.

Also Read | <a href="https://www.wionews.com/world/archaeologists-unearth-worlds-oldest-beer-brewery-in-egypt-363522">Archaeologists unearth 'world's oldest' beer brewery in Egypt</a>

That drives — all types of cryptocurrencies.

An exception like this could provide the legal framework for the reserve bank of India to launch its official digital currency. China has a similar regulatory regime. It effectively banned trading and usage of cryptocurrencies in 2017.

Crypto exchanges were shut down. Last year; Beijing began testing its own digital currency in four cities. India’s move to regulate digital cash comes at a time — when the world is increasingly adopting it.&nbsp;

MasterCard and Visa have opened their payments network for some cryptocurrencies.&nbsp;

Customers using these platforms can now pay or accept money through crypto. Recently, auto giant Tesla made a big bet on bitcoin.

The company bought more 1.5 billion dollars worth of bitcoin.

It also allowed customers to pay through bitcoin for its products. Cryptocurrencies are now part of the mainstream global financial system.

India cannot afford to ignore this shift but it needs a legal framework first.

(With inputs from agencies)

India will go ahead with a complete ban on investment in cryptocurrencies, while providing existing investors a transition period to exit their holdings. Cryptocurrency isn’t fiat currency backed by the Reserve Bank of India and its usage in all forms will be banned through the new law that will be introduced in Parliament.

India will go ahead with a complete ban on investment in cryptocurrencies, while providing existing investors a transition period to exit their holdings. Cryptocurrency isn’t fiat currency backed by the Reserve Bank of India and its usage in all forms will be banned through the new law that will be introduced in Parliament. This would include a ban on transacting directly via foreign exchanges. Seven million investors hold cryptocurrencies in India worth more than one billion dollars. The ban won’t be enforced overnight and cryptocurrency investors will be given a transition period of three-to-six months after the implementation of the new law to liquidate their investments. The proposed ban --- is part of a comprehensive bill on crypto and digital currencies. It may be introduced in the ongoing budget session of parliament. Does this mean the end of the road for cryptocurrencies in India? Not really, the bill may include certain exceptions. They could allow the promotion of the underlying technology. Like block chain, the decentralized digital ledger. Also Read | Archaeologists unearth 'world's oldest' beer brewery in Egypt That drives — all types of cryptocurrencies. An exception like this could provide the legal framework for the reserve bank of India to launch its official digital currency. China has a similar regulatory regime. It effectively banned trading and usage of cryptocurrencies in 2017. Crypto exchanges were shut down. Last year; Beijing began testing its own digital currency in four cities. India’s move to regulate digital cash comes at a time — when the world is increasingly adopting it. MasterCard and Visa have opened their payments network for some cryptocurrencies. Customers using these platforms can now pay or accept money through crypto. Recently, auto giant Tesla made a big bet on bitcoin. The company bought more 1.5 billion dollars worth of bitcoin. It also allowed customers to pay through bitcoin for its products. Cryptocurrencies are now part of the mainstream global financial system. India cannot afford to ignore this shift but it needs a legal framework first. (With inputs from agencies)

India mulls Bitcoin ban, existing investors to get transition period

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves.

Falling infection rates, growing vaccination programmes and the prospects of a huge spending splurge by the US government within months continue to keep the mood on trading floors upbeat.

However, there remain worries that prices may have gone a little too far, which analysts said was capping any surge for now.

Declines in new cases, deaths and hospitalisation in major economies including the United States, Britain and Europe are fanning expectations they can begin opening up soon.

There is also apparently little concern about the emergence of new strains in parts of the world that some have warned could be more resistant to the vaccines.

"There is no evidence that new strains compromise protection against severe illness, and positive signs that consensus is shifting to re-opening once the most vulnerable are protected," said Stephen Innes at Axi.

Hong Kong led Wednesday's rally, piling on 1.8 percent above 30,000 thanks to a surge in Tencent and NetEase following news Chinese authorities had given the green light to their most eagerly awaited video games.

Shanghai also rose more than one percent as investors welcomed data showing China's factory gate prices rose for the first time in a year in January, indicating the economy was on a recovery track.

Gains in Tokyo were capped by news the Japanese government will keep containment measures in place for the time being.

Sydney, Seoul, Manila, Jakarta and Bangkok also rose but Mumbai, Singapore and Wellington fell slightly.

"Activity in Asia suggests that regional investors are not taking positioning off the boards ahead of the Lunar New Year holidays. If anything, it is precisely the opposite with Asian markets performing well" on Wednesday, said OANDA's Jeffrey Halley.

Investors brushed off a slight pullback in New York, where the Dow and S&amp;P 500 came off all-time highs, though the Nasdaq continued to another record.

Eyes on Biden stimulus push

But Mona Mahajan, at Allianz Global Investors, said some selling would be welcomed. "A pullback here could give tactical opportunities to those who were looking to get involved," she told Bloomberg TV.

"It seems like right now the story is just getting started, and the momentum is building behind it, and that story includes the reopening, vaccines, the downward trend now in some of the virus cases we've been seeing, supported by the stimulus talks and the Fed still on the sidelines."

Markets remain upbeat about the chances of Joe Biden pushing through his $1.9 trillion economic rescue package, and while there are warnings that the move -- along with an expected economic recovery -- will fan inflation, Federal Reserve officials were confident it would not be a long-term problem.

Biden said he was "optimistic" a bipartisan agreement could be passed and met top executives from leading companies including Walmart and JPMorgan Chase to shore up support.

However, with Republicans and some Democrats baulking at some parts of the proposal, including more than doubling the minimum wage, the final figure could be slightly lower -- some observers suggesting around $1.4 trillion.

Oil prices were flat, having risen for more than a week to 13-month highs thanks to bets that demand will surge as the world starts to look more normal. 
A drop in US inventories added to evidence that the commodity market is well on the road to recovery.

But Innes added: "That print will not dissuade oil prices from heating up further as Brent goes 'up, up and away', pushing through $61 and keeps climbing, floated higher by vaccine and stimulus balloons. Although I continue to view oil in overbought territory at these current levels and ripe for profit-taking."&nbsp;

Bitcoin was also struggling to push past $50,000 after this week's rally that came on the back of news that Elon Musk's electric carmaker Tesla had invested $1.5 billion in the cryptocurrency. 
The unit was hovering around $46,570, having topped out at $48,215 on Tuesday.

Key figures around 0710 GMT

Tokyo - Nikkei 225: UP 0.2 percent at 29,562.93 (close) 
Hong Kong - Hang Seng: UP 1.8 percent at 30,004.62 
Shanghai - Composite: UP 1.4 percent at 3,655.09 (close) 
Pound/dollar: UP at $1.3820 from $1.3813 at 2230 GMT 
Euro/dollar: UP at $1.2124 from $1.2116 
Euro/pound: UP at 87.73 pence from 87.71 pence 
Dollar/yen: UP at 104.59 yen from 104.58 yen&nbsp; 
Brent North Sea crude: FLAT at $61.11 per barrel 
West Texas Intermediate: DOWN 0.2 percent at $61.00 per barrel 
New York - Dow: DOWN 0.2 percent at $58.24 per barrel 
London - FTSE 100: UP 0.1 percent at 6,531.56 (close) 
&nbsp;

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves.

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves. Falling infection rates, growing vaccination programmes and the prospects of a huge spending splurge by the US government within months continue to keep the mood on trading floors upbeat. However, there remain worries that prices may have gone a little too far, which analysts said was capping any surge for now. Declines in new cases, deaths and hospitalisation in major economies including the United States, Britain and Europe are fanning expectations they can begin opening up soon. There is also apparently little concern about the emergence of new strains in parts of the world that some have warned could be more resistant to the vaccines. "There is no evidence that new strains compromise protection against severe illness, and positive signs that consensus is shifting to re-opening once the most vulnerable are protected," said Stephen Innes at Axi. Hong Kong led Wednesday's rally, piling on 1.8 percent above 30,000 thanks to a surge in Tencent and NetEase following news Chinese authorities had given the green light to their most eagerly awaited video games. Shanghai also rose more than one percent as investors welcomed data showing China's factory gate prices rose for the first time in a year in January, indicating the economy was on a recovery track. Gains in Tokyo were capped by news the Japanese government will keep containment measures in place for the time being. Sydney, Seoul, Manila, Jakarta and Bangkok also rose but Mumbai, Singapore and Wellington fell slightly. "Activity in Asia suggests that regional investors are not taking positioning off the boards ahead of the Lunar New Year holidays. If anything, it is precisely the opposite with Asian markets performing well" on Wednesday, said OANDA's Jeffrey Halley. Investors brushed off a slight pullback in New York, where the Dow and S&P 500 came off all-time highs, though the Nasdaq continued to another record. Eyes on Biden stimulus push But Mona Mahajan, at Allianz Global Investors, said some selling would be welcomed. "A pullback here could give tactical opportunities to those who were looking to get involved," she told Bloomberg TV. "It seems like right now the story is just getting started, and the momentum is building behind it, and that story includes the reopening, vaccines, the downward trend now in some of the virus cases we've been seeing, supported by the stimulus talks and the Fed still on the sidelines." Markets remain upbeat about the chances of Joe Biden pushing through his $1.9 trillion economic rescue package, and while there are warnings that the move -- along with an expected economic recovery -- will fan inflation, Federal Reserve officials were confident it would not be a long-term problem. Biden said he was "optimistic" a bipartisan agreement could be passed and met top executives from leading companies including Walmart and JPMorgan Chase to shore up support. However, with Republicans and some Democrats baulking at some parts of the proposal, including more than doubling the minimum wage, the final figure could be slightly lower -- some observers suggesting around $1.4 trillion. Oil prices were flat, having risen for more than a week to 13-month highs thanks to bets that demand will surge as the world starts to look more normal. A drop in US inventories added to evidence that the commodity market is well on the road to recovery. But Innes added: "That print will not dissuade oil prices from heating up further as Brent goes 'up, up and away', pushing through $61 and keeps climbing, floated higher by vaccine and stimulus balloons. Although I continue to view oil in overbought territory at these current levels and ripe for profit-taking." Bitcoin was also struggling to push past $50,000 after this week's rally that came on the back of news that Elon Musk's electric carmaker Tesla had invested $1.5 billion in the cryptocurrency. The unit was hovering around $46,570, having topped out at $48,215 on Tuesday. Key figures around 0710 GMT Tokyo - Nikkei 225: UP 0.2 percent at 29,562.93 (close) Hong Kong - Hang Seng: UP 1.8 percent at 30,004.62 Shanghai - Composite: UP 1.4 percent at 3,655.09 (close) Pound/dollar: UP at $1.3820 from $1.3813 at 2230 GMT Euro/dollar: UP at $1.2124 from $1.2116 Euro/pound: UP at 87.73 pence from 87.71 pence Dollar/yen: UP at 104.59 yen from 104.58 yen Brent North Sea crude: FLAT at $61.11 per barrel West Texas Intermediate: DOWN 0.2 percent at $61.00 per barrel New York - Dow: DOWN 0.2 percent at $58.24 per barrel London - FTSE 100: UP 0.1 percent at 6,531.56 (close)

Asian markets push higher as traders focus on recovery outlook

Wall Street in the US reached all-time closing highs on Monday as investor optimism was stoked by prospects of a speedier economic recovery from the global health crisis, it was driven by increased stimulus and an accelerated vaccine rollout as well.

World Business Watch: Wall Street sets record closing highs on stimulus hopes

Chinese government officials have met representatives from US electric carmaker Tesla over reports from consumers about battery fires, unexpected acceleration and failures in over-the-air software updates.

World Business Watch: Tesla faces China regulators over consumer complaints

The European Commission’s Vice President for the economy Valdis Dombrovskis said that Europe’s economy is likely to rally in the second quarter as an acceleration in Coronavirus vaccine roll-out allows governments to gradually lift lockdown restrictions.

World Business Watch: EU economy to rally in second-quarter as vaccine roll-out accelerates

Popular cryptocurrency Bitcoin has jumped more than 10% to a record high, this after Tesla said it had invested $1.5billion Bitcoin last month.

World Business Watch: Tesla sends bitcoin to record high with $1.5bn investment

Britain's Rolls-Royce said on Sunday that it is proposing a two-week closure of operations of its civil aerospace unit over the summer as it manages costs due to the impact of the COVID-19 epidemic.

World Business Watch: Rolls-Royce Aerospace plans 2-week civil shutdown

Royal Dutch Shell's profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company's retail network and trading business helped cushion the blow.

Shell's profit slumps in 2020 as the pandemic bites

There is a container shortage across the world that has resulted from China's massive export. It is now threatening industries and businesses worldwide, from India's sugar and the auto industry to America's agricultural exports.

World Business Watch: Global shipping-container shortage is hampering exports

Oil prices were up two per cent (2%) on Tuesday (February 02) after major producers showed that they were reining in output roughly in line with their commitments.

World Business Watch: Oil prices hit highest in a year as producers limit supply

Japan's services sector shrank at the fastest pace in five months, as a heavy blow to demand from a resurgence in coronavirus infections and a state of emergency in parts of the country greatly hurt new business orders.

World Business Watch: Japan's service sector slump deepens as COVID-19 emergency hits business

The Euro Zone economy contracted less than expected in the fourth quarter of 2020 amid pandemic-induced lockdowns, initial EU estimates showed that it is also heading for another, steeper decline in the first quarter of this year.

World Business Watch: Euro Zone fourth-quarter GDP falls less than expected

Bitcoin slumped 10% on Thursday to the lowest point in last 10 day. The cryptocurrency has retreated further from record highs as traders increasingly cite fears of tighter US regulation. The world's most popular cryptocurrency Bitcoin was last down 7.5% at $32,779 after falling as low as $31,977. It has lost nearly a quarter since touching a record $42,000 on Jan. 8.

The fall has come amid growing concerns that bitcoin was one of financial market price bubbles. In addition to this, there have been fears that US President Joe Biden's administration could try to regulate cryptocurrency.

During a Senate hearing on Tuesday Janet Yellen, Biden's pick to head the U.S. Treasury, expressed concerns that cryptocurrencies could be used to finance illegal activities.

"I think many are used, at least in a transactions sense, mainly for illicit financing, and I think we really need to examine ways in which we can curtail their use and make sure that money laundering does not occur through these channels," said the former chair of the U.S. Federal Reserve.

Also Read | <a href="https://www.wionews.com/business-economy/sensex-crosses-historic-50000-mark-358239">Sensex crosses historic 50,000-mark</a>

Joseph Edwards of cryptocurrency broker Enigma Securities said these comments had a substantial impact.

"The action over the last 36 hours or so has largely been rippling outwards from the Janet Yellen comments on crypto," he said, adding that it was still unclear exactly what, if any, moves the Biden administration would take.

"We do think it's probably still just a lapse in momentum rather than a sea change, though," he said.

(With Reuters inputs)

Bitcoin slumped 10% on Thursday to the lowest point in last 10 day. The cryptocurrency has retreated further from record highs as traders increasingly cite fears of tighter US regulation.

Bitcoin slumped 10% on Thursday to the lowest point in last 10 day. The cryptocurrency has retreated further from record highs as traders increasingly cite fears of tighter US regulation. The world's most popular cryptocurrency Bitcoin was last down 7.5% at $32,779 after falling as low as $31,977. It has lost nearly a quarter since touching a record $42,000 on Jan. 8. The fall has come amid growing concerns that bitcoin was one of financial market price bubbles. In addition to this, there have been fears that US President Joe Biden's administration could try to regulate cryptocurrency. During a Senate hearing on Tuesday Janet Yellen, Biden's pick to head the U.S. Treasury, expressed concerns that cryptocurrencies could be used to finance illegal activities. "I think many are used, at least in a transactions sense, mainly for illicit financing, and I think we really need to examine ways in which we can curtail their use and make sure that money laundering does not occur through these channels," said the former chair of the U.S. Federal Reserve. Also Read | Sensex crosses historic 50,000-mark Joseph Edwards of cryptocurrency broker Enigma Securities said these comments had a substantial impact. "The action over the last 36 hours or so has largely been rippling outwards from the Janet Yellen comments on crypto," he said, adding that it was still unclear exactly what, if any, moves the Biden administration would take. "We do think it's probably still just a lapse in momentum rather than a sea change, though," he said. (With Reuters inputs)

Bitcoin falls 10 per cent to a 10-day low

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