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Business

Global Markets: European shares rebound from lows, euro set for best month in a decade

European shares recovered from their lowest levels in a month on Friday, as investors looked past a severe economic contraction in the euro zone and on to company earnings, while the euro reached its highest in more than two years, set for its best month in a decade.
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Business

How much has Trump helped stocks rally? Voters are split: Reuters poll

U.S. President Donald Trump may give himself credit for the performance of the U.S. stock market during his term, but only around a third of Americans agree, according to a Reuters poll.
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Business

Malaysia’s AirAsia X falls to first-quarter loss on pandemic impact

Malaysia’s AirAsia X Bhd fell to a net loss in its first quarter, a fourth straight quarterly loss as the pandemic slowed air travel demand.
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Business

FY’19 Income Tax Return Filing Deadline Extended till September 30 in View of Pandemic

This is the third extension given by the government for taxpayers to file both original and revised tax returns for 2018-19 fiscal.
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Business

GE loses less cash than expected even as pandemic pummels earnings

General Electric Co lost less cash than estimated in the second quarter even as the coronavirus pandemic pummeled demand in its aviation business, resulting in a widerthanexpected quarterly loss.
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Business

Spotlight On 4 Big Tech CEOs Testifying in Competition Probe

Their industry has transformed society, linked people around the globe, mined and commercialised users’ personal data, and infuriated critics on both the left and right over speech.
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Business

High Frequency Indicators Showing Material Improvement, Pointing at V-shaped Recovery: CII

A clutch of indicators including GST collections, railway freight traffic, petrol consumption, peak power demand, electronic toll collections, among others, have all mirrored the incipient signs of recovery, it said.
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Business

Growth Depends on Social Norms, Political Culture; Not Just Economic Policies: Ex-World Bank Economist

Basu charged that the breakdown of social cohesion is beginning to hurt India and the sharp economic slowdown started two years before the COVID-19 pandemic.
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Business

Indian Economy to See Sharp V-shaped Recovery in Q3, Q4: NK Singh

Singh said the economic expansion in 2022-23 would determine whether or not the initiatives to revive growth are sustainable.
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Business

Govt Amends Certain Indian Accounting Standards, Including Those Related to Leases amid Covid-19 Crisis

In the wake of the pandemic, many lessors have extended rent concessions to lessees. However, applying the Ind-AS 116 requirements for changes to lease payments could have posed practical difficulties in the current situation.