China's Huawei has overtaken Samsung to become the number-one smartphone seller worldwide in the second quarter on the back of strong domestic demand, industry tracker Canalys said Thursday.

Amazon, Apple, Google and Facebook are too powerful and will likely emerge from the coronavirus pandemic even stronger, the head of a U.S. congressional antitrust committee said Wednesday.

Leaders of the world's four most powerful companies will defend the Internet giants, painting them as US success stories in a fiercely competitive world during a major antitrust hearing Wednesday.

Facing the second recession in just over a decade and with Congress locked in debate over a new emergency spending package, the Federal Reserve on Wednesday will seek a way to put some guardrails on the U.S. economy.

General Motors reported a smaller-than-expected loss Wednesday as strong pricing for some newer auto models partially mitigated the hit from much lower sales amid the coronavirus pandemic.

The big US automaker lost $758 million in the second quarter, compared with a $2.4 billion profit in the year-ago period. 

Moroccan farmer Hamid had pinned his hopes on selling his sheep for the Eid al-Adha feast, to make up for a year of drought and the economic paralysis linked to the novel coronavirus pandemic.

A U.S. magistrate judge improperly denied release to a father and son wanted by Japan on charges that they helped sneak former Nissan Motor Co. Chairman Carlos Ghosn out of that country, their attorneys have said.

Lawyers for Michael and Peter Taylor urged U.S. District Judge Indira Talwani to immediately free the men on bail. Their lawyers insisted the Taylors have no plans to flee the U.S. as they fight their extradition to Japan, noting that the men returned to Massachusetts from Lebanon earlier this year, even though they knew Japan was seeking their arrest.

Deutsche Bank reported a net loss of 77 million euros ($90 million) for the second quarter of 2020 on Wednesday, as the fallout from the coronavirus forcing it to more than quadruple its risk provisions.

The net loss attributable to shareholders was partly down to the group setting aside 761 million euros to meet potential credit losses risks -- more than four times more than during the same period last year.

Gold chalked up another record Tuesday as the dollar extended losses and traders rushed into safe havens as fears about the coronavirus pandemic mounted, while equity markets rose on hopes for a fresh US stimulus package and more Federal Reserve largesse.

With worrying new spikes in COVID-19 in Asia and Europe -- on top of the already high new US cases -- forcing governments to impose strict containment measures, the global economic outlook remains clouded, putting the brakes on a months-long stocks rally.

The price of gold surged to a record above $1,926 per ounce on Monday as investors moved money into an asset seen as a safe haven amid jitters about U.S.-Chinese tension and the recovery from the coronavirus pandemic.