Pandemic Pushes Oil Giant BP to $ 6.7 Billion Net loss
UK-based BP Plc posted a $6.7 billion net loss in the second quarter of 2020 and cut its dividend in half. BP, which is one of the world's most powerful [...]
Amazon Gets Approval to Buy 16% Stake in Deliveroo
Amazon has received the green light from the Competition and Markets Authority (CMA) to buy a minority stake (16%) in U.K. food delivery start-up, Deliveroo. In 2019, just after Deliveroo [...]
Huawei Overtakes Samsung as Top Handset Maker in Q2
China's Huawei Technologies has overtaken Samsung to become the number one handset maker in Q2 2020 aftershipping 55.8 million devicesin the April-June period, trumping Samsung's 53.7 million. Reutersreports that Huawei's [...]Global Markets Briefing
Microsoft has announced it will continue with talks to explore a purchase of TikTok in the United States. In a blog post, CEO Satya Nadella said Microsoft will move quickly [...]
Fitch Revises Down Japan’s Long-Term Outlook to Negative
Ratings agency, Fitch, has revised down the outlook on Japan's long-term foreign currency debt rating tonegative from stable, citing the sharp coronavirus-induced domestic economic contraction. Furthermore, the credit ratings firm [...]Boeing Set to Stop Production of 747 Jets
Boeing has announced plans to stop the production of its 747 jets by 2022, a move that is foreseen to result into more job cuts; greater than the 16,000 the [...]Chevron and Exxon Record Losses in Q2 as Oil Demand Dips
Chevron and Exxon Mobil released their Q2 results on Friday that reveal the extent of the coronavirus pandemic on oil demand. The bloodbath witnessed in the oil sector has hurt [...]
Microsoft in Talks to Acquire TikTok US Operations
Microsoft is in talks to acquire TikTok's US operations in a move to revamp its advertising business. TikTok has come under immense pressure in the US due to security concerns [...]Boeing Posts $2.4 Billion Loss in Q2 2020
American planemaker, Boeing, posted a $2.4 billion loss in Q2 2020 (April to June), compared to a net loss of $2.942 billion during the same period last year. Revenue fell25 [...]Cost Cutting Initiatives Boost Samsung's Q2 Net Profit to $4.64 Billion
Samsung Electronics recorded a 7.3% profit increase YoY to $4.64 billion compared to $4.3 billion in Q2 2019. The company made a net profit of $4.08 billion in Q1 2020. [...]Global Markets Headlines
Global Markets; Kodak Stock Surge, Earnings Report
US Markets opened higher on Wednesday's trading session even as quarterly earnings report continue to stream with the federal reserve expected to announce its decision on interest rates. According to [...]
