Business

JPMorgan is to pay $1 billion for full ownership of its Chinese mutual fund venture, a statement on the Shanghai United Asset and Equity Exchange said on Tuesday, a price tag that analysts said was expensive.

A year ago, Federal Reserve Chair Jerome Powell warned fellow central bankers of the significant risks posed by trade policy uncertainty, and the lack of precedents for monetary policy in the face of those unknowns.

British industrial software provider Aveva Group is buying SoftBankbacked peer OSIsoft for an enterprise value of $5 billion, it said on Tuesday, as it seeks to expand its services with the Californiabased firm's PI system.

Qantas Airways Ltd said on Tuesday it planned to cut up to 2,500 jobs by outsourcing its Australian ground handling operations to lower costs as it braces for a A$10 billion ($7.17 billion) hit to revenue due to the pandemic this financial year.

Virgin Australia Holdings Ltd's unsecured creditors will receive an average return of 913% of their funds as part of U.S. private equity group Bain Capital's proposed purchase of the airline, administrator Deloitte said in a report on Tuesday.

Shares of Salesforce.com , Amgen and Honeywell International each surged over 3% in extended trade on Monday after it was announced they would join the Dow Jones Industrial Average as of Aug. 31.

The S&P 500 and the Nasdaq reached new record closing highs on Monday as optimism over potential medical advances in the war against the coronavirus pandemic pushed all three major U.S. stock indexes higher.

Benchmark U.S. crude oil for October delivery rose 28 cents to $42.62 a barrel Monday. Brent crude oil for October delivery rose 78 cents to $45.13 a barrel.

According to traders, domestic bourses followed the positive trend in global equities, with strong buying in financial stocks lifting the key indices.

Taiwan ordered Chinas Alibaba Group on Monday to dispose of its stake in a local ecommerce platform, Taobao Taiwan, citing a risk that users personal information might be transferred to the mainland.

Takeda Pharmaceutical Co has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group for 242 billion yen ($2.3 billion), Japan's largest drugmaker said on Monday.

As serial defaulters Argentina and Ecuador near the finishing line on their latest sovereign debt overhauls, foreign creditors are nervy about investing again without macroeconomic reforms and International Monetary Fund support.

Singapore's core inflation gauge fell to its lowest level since at least 2012 in July, official data showed on Monday.

The coronavirus crisis will see the world's biggest firms slash dividend payouts between 17%23% this year or what could be as much $400 billion(305.44 billion pounds), a new report has shown, although sectors such as tech are fighting the trend.

David Pecker is stepping down as CEO of the National Enquirer's parent, ending a reign that saw the company entangled in a campaignfinance scandal that sent President Donald Trump's personal lawyer to jail.

The comments come a day after the release of the minutes of the latest meeting of RBI's Monetary Policy Committee, where high inflation was cited as the prime reason for the unanimous decision to hold rates.