BMW Confirms Outlook After 2Q Loss
BMW reported an operating loss of EUR666 million in the second quarter and confirmed its guidance for the year, warning however, that pre-tax before is expected to be "significantly lower than in 2019."
Commerzbank Forecasts Loss For 2020
Commerzbank said it expects to report a loss this year after it posted a 21% fall in second-quarter profit to EUR220 million, hit by sharply higher provisions.
Allianz Confident on Outlook
Allianz reported a fall in second quarter operating profit to EUR2.57 billion following weakness at its property-casualty business, but said it expected "a solid financial performance" for the rest of 2020.
Continental Warns of Significantly Lower Profit
Continental reported an underlying loss of EUR829.1 million in the second quarter and warned that it expects full-year sales volume, revenue and adjusted EBIT to be "significantly" below 2019.
Microsoft CEO Wades Into U.S.-China Tensions in TikTok Pursuit
Merger deals are rarely simple. But Satya Nadella now is attempting to ink a takeover agreement that satisfies not only both the companies and their shareholders, but two governments in bitter competition for technological clout.
TikTok Standoff Raises Fear of Retaliation Against U.S. App Developers
Digital companies making inroads in China could face heat should Beijing respond in kind to U.S. tactics.
SEC Probing Kodak Loan Disclosure, Stock Surge
The Securities and Exchange Commission is investigating the circumstances around Eastman Kodak's announcement of a $765 million government loan to make drugs at its U.S. factories, according to people familiar with the matter.
Justice Department Seeks as Much as $18.1 Billion From Purdue Pharma
The Justice Department is seeking as much as $18.1 billion from bankrupt opioid maker Purdue Pharma, new filings show, a demand that could disrupt the company's monthslong effort to reach a settlement with states and local communities that accuse it of helping fuel the opioid crisis.
Walmart Health-Care Executive to Depart
Sean Slovenski, who leads Walmart's health-care ambitions, is leaving the company, people familiar with the matter said, as the retail behemoth navigates the operational complexity of the coronavirus pandemic.
Insurers Report Mixed Results From Covid-19
Two giant sellers of insurance to consumers-Allstate and Prudential Financial-reported results that reflected the far-ranging impact of Covid-19.