Danish ‘meme stock’ Orphazyme plunges after drug setback
Orphazyme (ORPHA.CO) slashed its financial forecasts on Friday after U.S. health regulators rejected its key drug candidate, sending shares in Denmark’s first so-called meme stock tumbling 75% in early trading.
BOJ to launch new scheme for fighting climate change, keeps policy steady
The Bank of Japan surprised markets on Friday by unveiling a plan to boost funding for fighting climate change, joining a growing number of central banks stepping up efforts to address its economic and financial fallout.
Tesco’s UK sales growth slows as pandemic restrictions ease
Tesco’s (TSCO.L) sales growth has slowed sharply since the easing of the latest coronavirus lockdown as people start to visit pubs and restaurants again, Britain’s biggest retailer said on Friday.
What you need to know about the coronavirus right now
Here’s what you need to know about the coronavirus right now.
Asian shares up but set for weekly loss after hawkish Fed
Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023.
COVID deals new blow to foreign carmakers’ Indian dream
Foreign automakers’ hopes of a booming Indian car market are fading fast as a brutal second wave of COVID-19 infections and limited government room for more stimulus spending suggest a recovery could lag far behind China and the United States.
Yellen tells Mexican counterpart G20 countries should back global minimum tax
U.S. Treasury Secretary Janet Yellen met with Mexican finance minister Arturo Herrera on Thursday, stressing the importance of securing support from the Group of 20 major economies for a proposed global minimum tax, the Treasury said in a statement.
U.S. labor market healing despite unexpected rise in weekly jobless claims
The number of Americans filing new claims for unemployment benefits increased last week for the first time in 1-1/2 months, but layoffs are easing amid a reopening economy and a shortage of people willing to work.
EXCLUSIVE Chinese apps could face subpoenas or bans under Biden order -sources
President Joe Biden’s executive order aimed at safeguarding Americans’ sensitive data would force some Chinese apps to take tougher measures to protect private information if they want to remain in the U.S. market, according to people familiar with the matter.
Nasdaq closes up on tech stocks strength, as hawkish Fed limits S&P
Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&P nursing a very minor loss.
