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Tuesday, 16 March 2021

Oil drops as COVID-19 vaccine halt threatens demand

Oil drops as COVID-19 vaccine halt threatens demand

Oil prices fell for a third day on Tuesday, as Germany, France and other European states suspended the use of a major coronavirus vaccine, threatening the recovery of fuel demand.

Google to cut app store fee by half on developers' first $1 million in sales

Alphabet Inc's Google will cut the service fee it charges developers on its app store by half on the first $1 million they earn in revenue in a year, after a similar move by rival Apple Inc last year.

S&P 500 ends lower as investors eye Fed meeting

The S&P 500 ended lower on Tuesday, weighed down by energy and industrial stocks as investors awaited the result of the Federal Reserve's two-day policy meeting.

Global stocks steady ahead of Fed meeting

Wall Street's S&P 500 index ended lower on Tuesday and a gauge of global equities was close to flat as investors awaited the Federal Reserve and other central banks meetings this week, where regulators will indicate if they will retain policies supporting a post-pandemic recovery.

Retail investors accelerate Volkswagen's U.S. share spike

U.S. retail investors are buying the American depositary receipts of German automaker Volkswagen AG, some market participants said, accelerating a rally spurred by well-received VW announcements on its efforts to overtake Tesla Inc in the electric vehicles market.

Lennar rides U.S. housing boom to post more than two-fold surge in profit

Lennar Corp on Tuesday posted a more than two-fold jump in quarterly profit as historically low mortgage rates and a COVID-19 pandemic-induced shift to suburban living encouraged more Americans to buy homes.

Exchange leaders say GameStop saga highlights regulatory challenges

The recent trading frenzy around GameStop Corp and other so-called "meme" stocks highlights shortcomings and challenges in the U.S. markets as retail investors become a bigger presence, exchange leaders said on Tuesday.

UAW criticizes Ford plan to build new vehicle in Mexico, not Ohio

The United Auto Workers union criticized Ford Motor Co's plan to build a new vehicle in Mexico rather than at an Ohio plant, suggesting it might be in violation of the automaker's contractual commitments.

JPMorgan to host summer interns in NY, London offices

JPMorgan Chase & Co is planning to have its summer interns working from offices in London and New York City, a person familiar with the matter said on Tuesday.

Italy's Atlantia extends talks on unit sale to March 27

Atlantia agreed to extend talks with a consortium led by state lender CDP over the sale of its 88% stake in motorway unit Autostrade per l'Italia to March 27, the Italian infrastructure group said on Tuesday.

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