Business

A slew of companies are expected to launch restructuring processes in coming months, as the world emerges from the COVID19 crisis and government support measures are eased.

Perry Porikos sat in the street outside one of his five businesses, in a makeshift patio area that didnt exist before the COVID19 pandemic sent his best customers University of Michigan students back home in midMarch.

Axis Bank was the top gainer in the Sensex pack, surging around 4 per cent, followed by IndusInd Bank, ICICI Bank, L&T, Tata Steel, Sun Pharma and ONGC. On the other hand, HCL Tech, Kotak Bank, Asian Paints, Infosys and HDFC Bank were among the laggards.

Longerdated Treasury yields and the dollar rose in Asia on Friday after the U.S. Federal Reserve shifted its policy framework to place more emphasis on boosting economic growth and less on worries about letting inflation run too high.

China's ByteDance told engineers of its popular shortvideo app TikTok this week to make contingencies should it need to shut down its U.S. operations, even as it works toward divesting them, people familiar with the matter said on Thursday.

British coffee and sandwich chain Pret A Manger is cutting 2,800 jobs as it completes restructuring of its UK business following a hit to customer demand from the coronavirus crisis, it said on Thursday.

U.S. average rates on longterm mortgages fell this week, with historically low levels continuing to fuel demand for homes.

Central banks must explain their actions clearly to the people they serve to preserve public confidence amid a flood of misinformation during the coronavirus crisis, the head of the Bank of Canada said on Thursday.

The World Bank Group said on Thursday it was pausing publication of its 'Doing Business' report to probe data collection irregularities in the closely watched annual ranking of countries' business and investment climates.

Wall Street's main indexes rose on Thursday as Federal Reserve Chair Jerome Powell rolled out the U.S. central bank's aggressive new strategy to restore the United States to full employment and lift inflation back to healthier levels.

More Americans signed contracts to buy homes in July, suggesting the current hot housing market could continue in the fall.

Indian rice export prices rose for a third straight week with buyers turning to cheaper grain from the top hub, which continued to grapple with monsoon floods and a worsening pandemic, while concerns over low rainfall buoyed Thai rates.

Top Australian grocer Woolworths Group Ltd said on Thursday annual profit dipped as coronavirusinduced shutdowns wiped out sales of its pubs unit, but an extended upsurge in supermarket sales boosted its shares.

The U.S. economy has bounced back "noticeably" from the depths of the coronavirus recession, Federal Reserve Governor Michelle Bowman said on Wednesday, but it is still far from back to normal and will take some time to get there.

U.S. Secretary of State Mike Pompeo on Wednesday renewed criticism of British bank HSBC for its reported treatment of customers linked with the prodemocracy movement in Hong Kong, saying China was "bullying" the United Kingdom.

Gold prices rose on Wednesday on the eve of a speech from Federal Reserve Chairman Jerome Powell, bouncing off a twoweek low hit early in the session as investors bet on further economic stimulus to mitigate the impact of the coronavirus pandemic.