The US economy likely gained steam in the second quarter, with the pace of growth probably the second fastest in 38 years, as massive government aid and vaccinations against Covid-19 fueled spending on travel-related services.

Canadian pipeline operator TC Energy Corp could spend billions of dollars on its plans to lower emissions by switching to renewable energy to run its huge network of US and Canadian oil and gas pipelines. 

Pfizer Inc on Wednesday raised its forecast for sales of the Covid-19 vaccine that it developed with Germany’s BioNTech by 28.8% to $33.5 billion, as countries scramble to secure supply of the shots. 

US oil refiners are set to post their first quarterly profit since the Covid-19 pandemic, even though higher oil prices and weaker margins in June have tamed analysts’ optimism fostered by the rebound in fuel demand. 

Boeing Co on Wednesday posted its first quarterly profit in almost two years, as deliveries of its best-selling 737 MAX jets to airlines gained traction amid a sharp rebound in travel bookings following an increase in global Covid-19 vaccinations. 

GSK forecast a smaller drop in 2021 profit on Wednesday as the drugmaker beat second-quarter earnings expectations, buoyed by a recovery in routine visits to doctors as pandemic restrictions ease. 

Executives who run companies making everything from airplane parts to cars and steak burritos are at odds with economic policy makers on how durable the recent surge in US inflation will be and see higher prices hitting margins and profits through the remainder of this year, if not longer. 

Microsoft on Tuesday reported a jump in profits in the recently ended quarter, keeping strong momentum from accelerated gains in cloud computing during the pandemic. Profits for the fiscal fourth quarter rose 47 per cent to $16.5 billion and revenue grew 21 per cent to $46.2 billion.

British house prices fell in July after a coronavirus emergency tax break for buyers was scaled back at the end of June but demand for bigger homes as a result of the pandemic is likely to support the market, mortgage lender Nationwide said. 

The British High Court has agreed to hear a case by environmental campaigners claiming that the government’s support of North Sea oil and gas companies conflicted with its plans to slash the country’s carbon emissions by 2050. 

Beijing on Wednesday told Tencent and other tech developers to address  “harassing” pop-up windows on their apps, in the latest salvo in China’s battle against the sector.

The Biden administration is considering ways to ensure the US commercial fishing industry is paid for any losses it incurs from the planned expansion of offshore wind power in the Atlantic Ocean, according to state and federal officials involved in the matter. 

British Prime Minister Boris Johnson said Britain’s economy would show a steady recovery this year albeit with “bumps on the road” after the country posted a strong increase in the number of employees on company payrolls in June.

Oil rose to around $75 a barrel on Wednesday ahead of an industry report expected to show US crude inventories fell more than expected, bringing the focus back to a tight supply and demand balance rather than rising coronavirus infections.

Asia’s stocks fell to a fresh seven-month troughs on Tuesday led by a third straight session of heavy selling by the Chinese internet giant, while bond and money markets remained in tight range ahead of Federal Reserve policy meeting. 

Walmart Inc on Tuesday said it will pay the full cost of college tuition and books for its roughly 1.5 million full and part-time employees, effective Aug. 16.

McDonald’s BTS celebrity meals and crispy chicken sandwiches are expected to fuel a US sales increase of 24 per cent when the company reports second-quarter earnings on Wednesday, but analysts are eyeing whether labor shortages could slow growth. 

British retailers reported only a slight slowdown in July after sales growth hit its highest in almost three years in June, the first full month after non-essential shops reopened from a coronavirus shutdown, industry data showed on Tuesday.  

The International Monetary Fund on Tuesday cut this year’s economic growth forecast for emerging Asia, as a spike in coronavirus cases from new variants and slow vaccinations cloud the region’s recovery prospects.

Global economic growth prospects are holding strong for this year and next, despite a significant majority of economists in Reuters polls warning new variants of the coronavirus pose the biggest risk to that outlook.