McDonald’s profit misses estimates as restaurants limit services
McDonald's Corp missed Wall Street estimates for quarterly profit on Thursday as most of its restaurants limited their services to delivery, drive-thru...
Global smartphone output to plunge by record 16.5pc in June quarter
Global smartphone production is expected to slump a record 16.5pc to 287 million phones in the June quarter from a year earlier...
Shell cuts dividend for first time since 1940s as oil demand collapses
Royal Dutch Shell cut its dividend for the first time in 80 years and suspended the next tranche of its share buyback...
US Federal Reserve warns coronavirus poses considerable risks
The Federal Reserve said Wednesday the coronavirus pandemic has already caused “tremendous” health and economic hardship, and warned the damage to the...
Oil rebounds above $14 after massive sell-off
US oil prices rebounded above $14 a barrel Wednesday, a day after a sell-off sparked by a major fund selling its short-term...
Development bank to allocate $15bn to tackle virus fallout
MOSCOW: The New Development Bank will allocate up to $15 billion for loans to help the so-called BRICS nations - Brazil, Russia,...
Oil majors, govts haggle over sharing pain of deepest cuts yet
LONDON/MOSCOW: From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep...
Merck sees $2.1bn coronavirus hit to 2020 sales
Merck & Co Inc said on Tuesday it expects the coronavirus pandemic to reduce 2020 sales by more than $2 billion (1.60...
Virus lockdowns: PepsiCo’s organic revenue, profits to suffer in second quarter
PepsiCo Inc warned on Tuesday organic revenue and operating profits would suffer in the second quarter as major buyers of its sodas,...
China’s biggest banks post profit growth amid pandemic, but margins shrink
BEIJING/SHANGHAI: China’s biggest listed banks posted higher profits in the first quarter despite the wider impact of the coronavirus pandemic on the...
US oil falls below $11 as fund sells off holdings
US oil nosedived below $11 a barrel Tuesday after a major exchange-traded fund started selling its short-term contracts of the commodity, and...
US imposes new rules on exports to China to keep them from its military
The United States said on Monday it will impose new restrictions on exports to China to keep semiconductor production equipment and other...
Stocks rally as govts plan to ease virus lockdowns
Stocks around the world rose Monday as governments prepare to gradually lift restrictions they imposed on businesses to slow the sweep of...
General Motors suspends dividend, share buybacks as coronavirus hits sales
General Motors Co said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks...
Indian govt brushes off tax officers’ proposal for coronavirus tax on super rich
MUMBAI: A group of Indian Revenue Service officers have recommended taxing the super rich, and foreign companies, to help pay for the...