Credit Suisse Posts Jump in Profit, Shakes Up Investment Banking
Swiss bank Credit Suisse said a surge in fees from stock and bond sales helped push net profit 24% higher in the second quarter, as its new chief executive put his stamp on the bank with a plan to simplify its structure.
Airbus to Keep Production Rates Down Until 2022
The world's biggest plane maker said it doesn't expect to start increasing aircraft production again until around 2022 as the crisis hitting the aviation sector deepens.
Volkswagen Cuts Dividend 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.
Budweiser Brewer Takes $2.5 Billion Write-Down in Africa Over Covid-19
Anheuser-Busch InBev reported a sharp drop in sales as beer consumption across much of the world dropped and took a $2.5 billion write-down on its business in South Africa, where alcohol sales have been banned.
Shell Profit Slumps on Impairments
Royal Dutch Shell posted an adjusted profit of $638 million, down 82% on the previous year, after the oil giant booked impairmant charges of $16.8 billion.
Standard Chartered Profit Slides as Impairments Surge
's second-quarter underlying profit fell 40% as credit impairments jumped to $611 million amid the prolonged coronavirus pandemic.
Total Takes $8 Billion Write-Down on Weak Oil Outlook
The French energy giant is reducing the value of its Canadian oil-sand assets and LNG assets in Australia, citing higher costs and lower demand.
Samsung Posts Second-Quarter Net Profit of $4.67 Billion
Samsung Electronics reported a significant boost in its second-quarter net profits, aided by a one-time gain in its display business and the continuing coronavirus-fueled bump in memory chip demand.
Qualcomm Inks Deal With Huawei Despite U.S., China Tensions
U.S. mobile phone chip giant Qualcomm said it resolved a licensing dispute with Huawei Technologies and inked a long-term deal with the smartphone maker despite heightened tensions between the U.S. and China.
Amazon Continues to Probe Employee Use of Third-Party Vendor Data, Jeff Bezos Says
Amazon.com Inc. Chief Executive Jeff Bezos said the company continues to investigate the allegations behind a Wall Street Journal article in April that detailed how Amazon employees used individual third-party seller data to develop Amazon-branded products.
