Working from home sent shares of the connected fitness group Peloton to a record high in after-hours trading. Peloton said revenues in the three months ending June 30, its fourth fiscal quarter, grew 172 per cent from a year ago to $607.1m.
A sell-off in US stocks resumed on Thursday, as Congress failed to make progress on a new stimulus package and signs emerged that improvements in the US labour market have stalled. The S&P 500 index closed lower by 1.8 per cent, while the tech-heavy Nasdaq Composite dropped 2 per cent.
Republicans in the Senate failed in their efforts to advance new economic stimulus measures worth about $500bn, after Democrats voted to block the legislation because the package was too small to tackle the scale of the downturn still facing the US.
Northern Ireland’s devolved government has tightened coronavirus rules. Household gatherings will be curtailed throughout Belfast, the region’s capital, as well as the county Antrim town of Ballymena and some neighbouring areas. First minister Arlene Foster said the move reflects the need to “push down” on a rising curve of infections.
The number of people hospitalised in Florida with coronavirus fell below 3,000 for the first time in at least two months. Hospitalisations fell by 153, the biggest one-day drop since late August, to 2,922 as of Thursday morning, compared with 3,436 a week ago.
The UAE said it would rigorously implement fines as weak adherence to physical distancing prompts a surge in coronavirus cases. The Gulf federation recorded 930 new cases on Thursday, the highest daily tally in four months, saying 88 per cent of recent cases had been caused by gatherings.
Recovery in the US oil industry looked to have stalled on Thursday after data showed crude stocks building for the first time in almost two months. US commercial crude inventories surprised the market to grow by 2m barrels – or 0.4 per cent – in the week to September 4.
Seven people have died and hundreds injured in riots in the Colombian capital Bogotá sparked by an incident in which police used stun guns to arrest a man who was allegedly flouting coronavirus restrictions and who later died in hospital.
Singapore Airlines Group, which consists of majority state-owned Singapore Airlines, regional SilkAir and low-cost carrier Scoot, will reduce its workforce by 4,300 people, or a quarter of its staff relative to the average number across the previous financial year.
The Scottish government has tightened limits on indoor gatherings, put on hold planned reopening of theatres and live music venues, and called on people to continue working from home amid a climb in new cases.
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