U.S. President-elect Joe Biden is expected to tap former Federal Reserve Chair Janet Yellen as U.S. Treasury Secretary, according to two Democratic allies.
U.S. President-elect Joe Biden plans to nominate former Federal Reserve Chairwoman Janet Yellen to become the next Treasury secretary, the Wall Street Journal reported on Monday, citing people familiar with the decision.
The head of NATO and a top European Union official on Monday invited U.S. President-elect Joe Biden to rebuild transatlantic ties and meet with Washington's European allies next year.
Stocks brushed against last week's record high on Monday before trading little changed and an index of commodity prices touched its highest since March as more vaccine-positive news gave investors hope economic activity could resume globally at a faster clip than has been thought.
Months of EU deliberation to decide which business activities can be marketed as green investments have produced a set of draft standards some finance officials and NGOs say are lax for the polluting shipping sector and challenging for buildings.
General Motors said on Monday it was reversing course and will no longer back the Trump administration's effort to bar California from setting its own emissions rules in an ongoing court fight.
General Motors Co will recall 5.9 million vehicles with potentially dangerous Takata air bag inflators after a U.S. safety agency said Monday it had rejected the Detroit automaker's petition to avoid the callback.
Tesla shares rose 6% on Monday, approaching a $500 billion market value and extending gains to 27% since news a week ago that the electric car maker will debut in the S&P 500 in December, forcing index funds to buy billions of dollars of its stock.
U.S. stocks rose in a choppy session on Monday as hopes for a COVID-19 vaccine boosted economically sensitive sectors such as energy and industrials, but a pullback in megacap shares held gains in check.
Euro zone business activity contracted sharply this month as renewed lockdowns forced many firms in the bloc's dominant service industry to close temporarily, although news of possible vaccines boosted hopes for 2021, surveys showed on Monday. Ciara Lee reports
Cineworld, owner of the U.S. Regal cinema chain, secured an additional $750 million in funding on Monday to cushion itself against the impact of the coronavirus as it aims to reopen next year. Francis Maguire reports.
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