Mastercard's Revenue Falls, Hurt by Pandemic
Company's revenue in the second quarter tumbled nearly 20% to $3.34 billion as the Covid-19 pandemic continued to weigh on business.
Fannie Mae Earnings Improve as Credit Expenses Decline
Fannie's latest results were buoyed by a decline in credit-related expenses, which had ballooned in the first quarter as the company braced for a wave of homeowners requesting forbearance on their mortgage payments.
Coronavirus-Related Drop in Advertising Weighs on Comcast's Revenue
Comcast's second-quarter revenue fell 12% from a year earlier, as the impact of the pandemic on its advertising-dependent businesses more than offset the cable giant's continued success in signing up more broadband customers.
British Banks Have Worries Beyond Coronavirus
The coronavirus pandemic pummeled British banks in the second quarter as many companies struggled to reopen and individuals reduced spending and deferred payments on loans. The industry is also grappling with Brexit and the increasing likelihood of negative interest rates.
Auto Giants Swing to Loss Amid Coronavirus-Driven Downturn
Volkswagen slashed its proposed dividend Thursday after swinging to a net loss in the second quarter, but the world's biggest car maker by sales also said there were signs a recovery was under way in markets from Western Europe to the U.S.
Procter & Gamble Posts Biggest Yearly Sales Gain Since 2006
Procter & Gamble, maker of household staples from Tide detergent to Charmin toilet paper, posted its strongest annual sales gain since 2006 as the pandemic kept consumers at home and vigilant about cleaning.
Tyson Foods Creates Chief Medical Officer Position as Part of Covid-19 Monitoring Program
The meatpacking giant said its program involves screening employees daily as they arrive at work and testing for Covid-19, including those without symptoms.
Apollo's Earnings Recover as Value of Investments Rises
Apollo Global Management's second-quarter earnings rose as the value of its investments climbed with the broader market.
Kraft Heinz Records $2.9 Billion in 2Q Write-Downs
Kraft Heinz wrote down the value of its Oscar Mayer cold cuts and Maxwell House coffee brands, and several other businesses, reflecting challenges for the food maker.
Yum! Brands Reports 12% Slip in Worldwide System Sales
Yum! Brands reported a 12% decline in worldwide system sales in the latest quarter from a year earlier as the company contends with the effects of the Covid-19 pandemic.
