Business

Chevron Corp on Friday reported an $8.3 billion loss in the second quarter on asset writedowns from plummeting fuel prices, a forced exit from Venezuela and expenses tied to thousands of jobs cuts.

The Board has appointed Urjit Patel as an Additional and Independent Director of the Company for a term of 5 years w.e.f. August 1.

Diamond mining giant De Beers is likely to have to cut jobs, its chief executive said on Thursday, as it outlined plans for an overhaul of its business after the coronavirus hit jewellery demand.

DuPont reported a bigger secondquarter loss on Thursday and wrote down the value of its automotive business by $2.5 billion, one of its biggest markets that has been hard hit by the COVID19 pandemic.

Shares of Eastman Kodak Co jumped more than 20% in premarket trading on Thursday after ballooning nearly 16 times in value this week, following a $765 million loan from the U.S. government to produce pharmaceutical ingredients.

Yum Brands Inc on Thursday beat Wall Street expectations for quarterly samerestaurant sales and profit, as consumers ordered more comfort foods such as pizzas and tacos online while under coronavirus lockdowns, sending its shares about 2% higher.

The Luxembourg-headquartered integrated steel and mining company follows January-December fiscal year. Sales in April-June quarter were USD 11.0 billion, as compared to USD 19.3 billion in the corresponding period in 2019, the company said.

World Trade Organization members are likely to refrain from appointing an interim directorgeneral to succeed Roberto Azevedo when he steps down at the end of August, two sources following the process said on Wednesday, after Washington's insistence on a U...

The Federal Reserve may shift more of its buying to the long end of the yield curve, analysts say, as the Treasury market braces for a surge in supply to finance relief efforts in the wake of the coronavirus pandemic.

Italian fashion group Prada said on Wednesday sales had recovered sharply in Asia since June after the fallout from the coronavirus pandemic triggered a 40% decline for comparable revenues globally in the first half of the year.

European shares rose on Wednesday, but a resurgence of COVID19 cases kept investors cautious as they awaited news from the U.S. Federal Reserve's latest policy meeting.

With India now the third-worst-hit country by number of infections after the United States and Brazil, the risk of renewed lockdowns after a nationwide shutdown in March-May has risen.

The U.S. Federal Reserve said on Tuesday it will extend several of its lending facilities through the end of the year, in a sign the economic impact of the novel coronavirus pandemic has been more prolonged than expected.

After starting off the session on a positive note, the BSE Sensex got caught in a downward spiral and slumped over 500 points from the day's peak.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.51 per cent to 93.95..

Gems and Jewellery Export Promotion Council officials said with China imposing the national security law on Hong Kong, the USA has given indication of raising duty on goods from there to 7.5% from 3.3%.