Business

SolarWinds hackers accessed Microsoft source code, the company says

The hacking group behind the SolarWinds compromise was able to break into Microsoft Corp and access some of its source code, Microsoft said on Thursday, something experts said sent a worrying signal about the spies’ ambition. Source code – the underlying set of instructions that run a piece of software or operating system – is […]

Business

Wall Street closes out wild pandemic year with Dow, S&P at records

U.S. stocks ended a tumultuous year with the Dow and S&P 500 at records, as the three major U.S. equity indexes notched solid-to-spectacular yearly gains despite an economy upended by the COVID-19 virus as investors looked to a post-pandemic world. In a year that marked the end of the longest bull market on record as […]

Business

Ford, Mahindra call off auto joint venture

Ford Motor Co said on Thursday it was calling off its automotive joint venture with India’s Mahindra and Mahindra Ltd due to the challenges caused by the COVID-19 pandemic. The companies said in separate statements that the decision was driven by changes in the global economy over the last 15 months, causing both to reassess […]

Business

Alphabet unit Wing blasts new U.S. drone ID rule, citing privacy

Alphabet Inc’s drone delivery unit Wing criticized Trump administration rules issued this week mandating broadcast-based remote identification of drones, saying they should be revised to allow for internet-based tracking. On Monday, the Federal Aviation Administration (FAA) issued rules that will allow small drones to fly over people and at night in the United States and […]

Business

S&P 500, Dow close at record highs, dollar gains at end of tumultuous year

Wall Street advanced on Thursday and the dollar gained ground as investors closed the book on a turbulent year of pandemic, recession and recovery. All three major indexes gained ground, with the Dow and S&P 500 picking up steam in the session’s final minutes to exit 2020 at record highs. Over the course of a […]

Business

Volatile markets end 2020 strong with vaccines, stimulus in sight

Global commodity markets ended 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the global coronavirus pandemic. Rollouts of vaccines to combat the virus and trillions of dollars’ in fiscal support are expected to boost investment and spending in 2021, spurring demand for […]

Business

Oil edges higher, but posts 20% annual drop in tumultuous 2020

Global crude prices edged higher on Thursday but lost more than a fifth of their value in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and sent oil markets reeling. Still, Brent and U.S. crude benchmarks have more than doubled from April’s nadir as producers cut output to match weaker demand. News […]