A historic collapse in oil demand because of the coronavirus pandemic as well as oil prices hitting historic lows wiped out profits for the Royal Dutch Shell, forcing the company to slashed its dividend for the first time since World War I. The company will be cutting down its quarterly dividend to 16 cents per…

The United States administration has placed on its blacklist five foreign websites of the online retail giant Amazon. The list, which is called a “notorious markets” register, saw the entry of the e-commerce platforms of Amazon in the United Kingdom, Germany, France, India and Canada. The sale of counterfeit and pirated products have been facilitated…

Amid the coronavirus pandemic, flexible working is set to become the new normal to keep the workforce healthy amid, predicts the chief executives of Barclays and WPP, as they view that there will no longer be crowded city centre offices and rush hours. A more de-centralised approach to staff working, which could include the chances…

Reserves for bad loans were increased by almost $1 billion by Standard Chartered in the first quarter, the bank said on Wednesday. Standard Chartered was the latest major bank to make huge increases in their provisions in the wake of the coronavirus pandemic hitting economies around the world. A day ago an announcement of increasing…

European plane making giant Airbus reported a 49 per cent drop in operating profit in the first quarter, at 281 million euros ($304.7m), against a revenue drop of 15 per cent, at   10.631 billion euros ($11.56bn). The current situation was the “gravest crisis the aerospace industry has ever known”, said Airbus Chief Executive Guillaume Faury.…

After reporting a massive loss in the first quarter, United States based airplane maker Boeing said that it will cut down on its staff and slash production. The coronavirus pandemic has virtually eliminated demand for air travel across the world and Boeing is yet to get out of the economic impact of the global grounding…

According to analysts, while the novel coronavirus pandemic will impact Microsoft Corp’s businesses such as revenues from advertisements on its LinkedIn social network, and a few other areas, the company is also expected to have offset that drop in business by a growth in its cloud computing services and collaboration tools such as the Teams…

The announced cuts in about 35,000 jobs at HSBC which was announced by the lender in February as a part of massive restructuring program undertaken by it to reduce costs, has been paused for the time being. Making the latest announcement, the bank has said that it does not want the staff to leave right…

According to one of the biggest manufacturers of grocery brands of the world, “lasting changes” in shopping behavior will be triggered by the time the novel coronavirus pandemic come to an end. The growth of online food shopping will be accelerated worldwide because of the health crisis, said Unilever’s chief executive, Alan Jope. And the…

Zoom, the video conferencing app that grew exponentially during the novel coronavirus pandemic as people were forced to stay back home and work from home on lockdown orders, is being taken on by the social media giant Facebook which has a long history of incorporating new features on to the platform to mimic what the…