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Gold Dips As Dollar Becomes Preferred Safe-haven

Gold eased on Thursday as investors opted for the relative shelter of the U.S. dollar from waning riskon sentiment and after the U.S. Federal Reserve expressed worries over the slow pace of economic recovery.
UK Court Says Abraaj Founder Can Be Extradited To U.S.

A London court ruled on Thursday the founder of collapsed Dubaibased private equity company Abraaj Group could be extradited to the United States, where he is wanted on fraud charges, but said the government should make the final decision.
UK Opens Formal Investigation Of Facebook's Giphy Takeover

The U.K.'s competition watchdog launched a formal investigation on Thursday into Facebook's purchase of Giphy over concerns it will stifle competition for animated images.
Mastercard Beats Profit Estimates As Customers Spend More

Payments processor Mastercard Inc on Thursday beat Wall Street estimates for fourthquarter profit, as growth in overall transactions partially offset the impact of a decline in crossborder volumes.
Inspired By GameStop, Malaysian Retail Investors Look To Prop Up Medical Glove Shares

Malaysian retail investors are looking to buy stocks of medical glove makers to drive up their share prices and squeeze out short sellers, drawing inspiration from the recent rally at U.S. firm GameStop Corp.
Pandemic Pushes Southwest To First Full-year Loss Since 1972

Southwest Airlines Co. said Thursday it lost $3.1 billion in 2020, its first fullyear loss since its early days in 1972, and said bookings for early this year have stalled in the face of high numbers of new reported cases of COVID19 in the United States.
Marlboro Maker Altria Sees 2021 Profit Below Estimates

Marlboro maker Altria Group Inc forecast 2021 profit below estimates on Thursday, saying it would spend more on developing and marketing noncombustible tobacco products this year, including those that can be heated. The company forecast 2021 adjusted profit between $4.49 and $4.62 per share, lower than the Refinitiv IBES estimate of $4.63, but higher than the $4.36 adjusted pershare profit it posted last year. Altria also said it recorded a noncash pretax unrealized gain of $100 million as a result of an increase in fair value of its investment in Juul, after taking several writedowns on its $12.8 billion investment in the ecigarette maker.
U.S. Economy Contracts In 2020; Worst Performance Since 1946

The U.S. economy contracted at its sharpest pace since World War Two in 2020 as COVID19 ravaged services businesses like restaurants and airlines, throwing millions of Americans out of work and into poverty.
India Needs Bold, Multifaceted Policy Response to Secure Robust Economic Recovery: IMF

The IMF said India must ensure that the pandemic is well contained and the rollout of vaccines are well managed if it wants to achieve a double-digit growth rate.
American Airlines Posts Record Annual Loss On Pandemic Pain

American Airlines Group Inc reported an $8.9 billion annual loss on Thursday, its biggest on record, as travel restrictions and lockdowns due to the COVID19 pandemic ravaged the aviation industry in 2020.