International Companies
UBS sees first-quarter profits surge but warns of tougher times ahead
UBS reported a jump in quarterly profits on Tuesday but conceded that lower asset prices and reduced client activity during the Covid-19 pandemic was likely to dent income going forward.
Covid-19 vaccine may be possible before end of 2020, CEPI says
A vaccine against the Covid-19 coronavirus might be possible before the end of 2020, a leading research group said.
Air France-KLM to get $12bn in state aid but fears of partnership split arise
Airline Air France-KLM is set to receive up to $12bn in state aid from the French and Dutch governments to mitigate the effects of the coronavirus pandemic but fears of a possible split in the partnership have surfaced as a result.
General Motors pulls dividend, suspends share buyback
General Motors said on Monday that it was pulling its dividend and suspending its share buyback programme to preserve cash amid the Covid-19 pandemic.
Whatsapp's forwarding limit cuts viral messages by 70%
Whatsapp’s latest rule to limit the times a message can be forwarded cut down viral texts by 70% on the platform.
Volkswagen re-opens largest European factory after lockdown
European carmaker Volkswagen re-opened Wolfsburg factory on Monday following its shutdown due to the coronavirus pandemic.
Deutsche Bank to beat Q1 profit expectations; capital targets under review
Deutsche Bank is to review its 2020 capital targets following the coronavirus outbreak, the German lender confirmed on Sunday, as it announced first-quarter results would significantly beat expectations.
Prices for Tesla Model 3 made in China rise after subsidies cut
US electric vehicle maker Tesla raised its prices for two China-made model 3 cars after the country's authorities moved to cut subsidies for electric vehicles.
Covid-19 hits profits at Target, despite online surge
US retailer Target warned on Thursday that the Covid-19 outbreak had ramped up costs and would dent first-quarter profits, despite record growth in online sales.
Covid-19 boost helps Eli Lilly beat forecasts
Covid-19 helped bolster Eli Lilly’s first-quarter revenues by $250m, the US drugs giant said on Thursday.
Apple set to sell Macs using own chips starting in 2021
Apple plans to start selling Mac computers that use its own chip processors starting from 2021.
UK approves Takeaway's merger with Just Eat
Takeaway. com's £6. 2bn merger with Just Eat has been approved by the UK's competition regulator after a three-month inquiry.
Coca-Cola and Pepsi not doing enough to offeset plastic waste
Coca-Cola and Pepsi are among the big companies not doing enough to reduce their plastic waste footprint globally despite pledges to the contrary.
Facebook invests $5.7bn in India's Jio Platforms
Facebook has taken a stake worth $5. 7bn in the digital branch of Indian company Jio Platforms as it tries to move into the Indian market.
Roche gets FDA approval to expand use of HPV test
Roche said on Tuesday that it had received approval from the US Food and Drug Administration (FDA) for the ‘cobas’ human papillomavirus (HPV) test, for use on the fully automated, high-throughput cobas 6800/8800 systems.
Huawei Q1 sales hit by Covid-19 and sanctions
Huawei’s revenues came in at $25. 8bn for Q1, up just 1. 4% from the previous year, marking a sharp slowdown in growth amid US sanctions and the ongoing pandemic.
Coca-Cola warns of coronavirus hit to second quarter
Coca-Cola has warned of a “material” impact to the second quarter after coronavirus and the introduction of increasingly stringent lockdown measures caused volumes to slump.
Philip Morris withdraws FY guidance despite Q1 earnings beat
Tobacco giant Philip Morris saw first-quarter profits and sales come in higher year-on-year, but withdrew its 2020 full-year guidance on Tuesday all the same as a result of the Covid-19 pandemic.
Historic rout in WTI futures amid fire sale ahead of expiry
US crude oil futures crashed at the start of the week with the price of West Texas Intermediate falling below zero for the first time ever.
Research into Covid-19 antibody therapy gaining ground - report
Antibody therapy for Covid-19 may be available by the autumn, according to a report on biotechnology firms carrying out research.