A record writedown on the value of its oil and gas assets because of the collapse in the global prices of oil and gas because of the coronavirus forced Royal Dutch Shell has to report a deep financial loss. For the second quarter 2020, a net loss of $18.3bn was reported by the Anglo-Dutch oil…
The world’s largest brewer has noted a bounce back in beer sales. Following three months of continuous decline in sale of beer globally because of the novel coronavirus pandemic, an increase in its global sales volume in June was reported on Thursday by Anheuser-Busch InBev. The brewer’s business had been heavily impacted by restrictions imposed…
According to sources familiar with the matter at hand, European software startup Infobip has raised more than $200 million from One Equity Partners, a private equity fund, in a series A funding round which values the company at more than $1 billion. The startup aims to channelize the additional funds to expand its footprint in…
Loss of $2.4 billion in the last three months was reported by the United States based plane maker Boeing. Analysts see this as the latest sign of troubles for the company because of the novel coronavirus pandemic which has hit the global aerospace industry particularly hard. The “prolonged impact” of the pandemic has made it…
The largest automaker of the United States – General Motors Co, said that it would be able generate enough cash by the end of the year to pay off a $16 billion loan if the US economy continues its rebound after the novel coronavirus pandemic shock and if there are no further production shutdowns for…
In a significant development, Samsung Electronics Co Ltd is weighing options vis-a-vis Bixby, its virtual assistant and Galaxy Apps Store, which includes dropping them altogether from its mobile devices as part of a new global revenue-sharing deal with Alphabet Inc’s Google. The development comes in the wake of Google trying since years to get Samsung…
On Wednesday, the European Bank for Reconstruction and Development (EBRD) disclosed that its Twitter accounts have been hacked. “This account and @EBRDgreen have been hacked,” said the EBRD on its @EBRD Twitter account. “We are trying to get back to normal and apologise to our followers.” Majority-owned by the leading G7 economic powers, the EBRD…
In a significant development, Richard Branson’s space tourism firm Virgin Galactic, revealed the interior of its space plane, displaying the cabin sporting custom seats and a “space mirror” in a virtual tour of what its passengers can expect to experience on flights to the edge of space. Passengers who sign up for such trips, costing…
On Wednesday, South Korea’s transport ministry stated, it has launched an investigation into suspected safety issues with U.S. electric vehicle maker Tesla Inc, a strong competitor to Hyundai Motor Co in the South Korean EV market. In a statement, officials from the transport ministry said, steering, braking and the Autopilot function were part of the…
A surge in demand for disinfectant and cleaning products from Dettol to Lysol, during the novel coronavirus pandemic propped up sale for the owner of the brands, Reckitt Benckiser, even though the company has admitted that it is still finding it difficult to meet up with the demand for its cleaning products in pockets some…
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