Business

New York, Aug 3 (AP/PTI) New York landmark retailer Lord & Taylor has filed for bankruptcy, joining a growing list of retailers flummoxed by the pandemic.

The company, which was sold to the French rental clothing company Le Tote Inc. last year, filed Sunday for bankruptcy protection in the Eastern Court of Virginia.

New Delhi, Aug 2 (PTI) MSME Minister Nitin Gadkari has approved an employment generation programme proposed by Khadi and Village Industries Commission to make India self-reliant in agarbatti production.

The programme named 'Khadi Agarbatti Aatmanirbhar Mission' aims at creating employment for unemployed and migrant workers in different parts of the country while increasing domestic agarbatti production substantially, the MSME Ministry said.

New Delhi, Aug 3 (PTI) The Raksha Bandhan festivities in the national capital were little subdued this year owing to the coronavirus pandemic, with siblings having to rely on technology to wish each other.

New Delhi, Aug 3 (PTI) The Drugs Controller General of India (DCGI) has given nod to the Serum Institute of India (SII) for conducting phase 2 and 3 human clinical trials of the Oxford University developed COVID-19 vaccine candidate in the country

Government officials told PTI that the approval for conducting phase 2 and 3 clinical trials by the SII was granted by DCGI Dr V G Somani late Sunday night after a thorough evaluation based on the recommendations of the Subject Expert Committee (SEC) on COVID-19

02 Aug 2020; MEMO: Kuwait has banned until further notice commercial flights to 31 countries it said that it regarded as high risk due to the spread of the coronavirus, the Directorate General of Civil Aviation said on Saturday.

02 Aug 2020; MEMO: Egypt said on Saturday that part of a seismic survey planned by Turkey in the eastern Mediterranean potentially encroached on waters where Cairo claims exclusive rights, according to report by Reuters.

An advisory issued last month by Turkey for the survey overlaps with Egypt’s exclusive economic zone (EEZ), constituting “a violation and an attack on Egypt’s sovereign rights”, the Egyptian foreign ministry said in a statement.

02 Aug 2020; MEMO: The United Arab Emirates has begun start-up operations in the initial unit of its first nuclear power plant, Reuters reported the Emirates Nuclear Energy Corporation (ENEC) as saying on Saturday.

NEW YORK (Reuters) - Investors are preparing their portfolios for a potentially rocky patch in U.S. stocks, worried that a dramatic rebound in equities may stall amid dimming economic data and rising political uncertainty.

Most money managers are wary of cutting equity exposure too drastically in a market that has rallied more than 40% since late March and stands near all-time highs despite widespread economic devastation and a global coronavirus pandemic.

WASHINGTON (Reuters) - The United States intensified its economic pressure on China’s Xinjiang province on Friday, imposing sanctions on a powerful Chinese company and two officials for what it said were human rights abuses against Uighurs and other ethnic minorities.

The move, the latest blow to U.S.-China relations, came a week after U.S. President Donald Trump closed the Chinese consulate in Houston, prompting Beijing to shutter the U.S. consulate in Chengdu.

(AP) News Corp founder Rupert Murdoch’s son James is resigning from the family-controlled publisher’s board over content appearing in its newspapers, which include the Wall Street Journal and the New York Post.

“My resignation is due to disagreements over certain editorial content published by the Company’s news outlets and certain other strategic decisions,” James Murdoch wrote Friday in a brief letter to News Corp’s board that the company made public. The resignation was effective Friday.