Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Commodities

27 Dec 2021

Oil Surges while Investors Gauge the Effects of the Omicron

The Index Today

Oil experienced a hike while investors seek to determine the economic effects of the Omicron as reports lay emphasis on its comparatively milder symptoms and level of severity.

Brent crude oil prices rose by 0.3% while the West Texas Intermediate experienced a decline following the absence of trade due to the Christmas Eve holiday on Friday.

Meanwhile, Japan’s strategic reserves intend to make a sale of 100,000 kiloliters of crude oil as Tokyo plans to join the global oil market as a prominent seller.

Crude’s rally has experienced an upswing during the pandemic, especially during the last two months with investors’ growing preference for risk assets.

Clay pottery with table linens