Business

Oil dipped to around $45 a barrel on Friday on worries that a demand recovery would slow due to a resurgence of coronavirus cases, although a pledge from OPEC member Iraq to cut oil output further in August lent support.

Hikma Pharmaceuticals Plc raised the annual sales outlook for two of its biggest divisions on Friday and reported higher firsthalf profit, as hospitals and distributors stocked up on critical medicines during the COVID19 pandemic.

China's soybean imports rose 18% this year through July versus a year ago, as large volumes of soybeans bought cheaply from top supplier Brazil arrived in the country, according to data from the General Administration of Customs.

President Donald Trump on Thursday moved to reimpose 10% tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups.

The number of Americans seeking jobless benefits fell last week, but a staggering 31.3 million people were receiving unemployment checks in midJuly, suggesting the labor market was stalling as the country battles a resurgence in new COVID19 cases that is...

Lufthansa put German workers on notice of compulsory layoffs on Thursday, saying tumbling air travel and slow progress in union negotiations meant cuts were unavoidable after it lost 1.7 billion euros ($2 billion) in a single quarter.

Over half of European companies in China's financial hub of Shanghai still have foreign staff who are unable to return after coronavirus border restrictions were imposed in March, a survey indicated on Thursday.

Deutsche Bank said on Thursday it had revised up its GDP forecasts for 2020, noting that recovery from the coronavirusinduced plunge in economic activity was progressing faster than it had earlier expected.

Glencore said on Thursday it was scrapping its dividend to focus on lowering debt as the COVID19 pandemic forced it to book a $3.2 billion impairment charge.

French insurer AXA said on Thursday the planned 1 billion euro ($1.2 billion) sale of its AXA Life Europe unit to Cinven had collapsed, and that it would make no fourthquarter shareholder payouts after net income fell 40% in the first half.

The number of new housing starts in the United Kingdom could be down as much as 40% this year because of the impact of the COVID19 pandemic, British Housing Secretary Robert Jenrick said on Thursday.

German sportswear firm Adidas said on Thursday it expects a rebound in profits in the third quarter after it plunged to a big loss in the second quarter when the majority of its stores were closed due to coronavirus lockdowns.

Siemens posted betterthanexpected industrial profit for its third quarter as the German engineering group weathered the effects of the coronavirus pandemic.

Zynga Inc raised its fullyear bookings forecast after topping quarterly estimates on Wednesday, encouraged by strong engagement from stuckathome players and its recent acquisition of Turkish mobilegame maker Peak.

A meeting of ministers from a transPacific trade bloc will discuss measures aimed at reviving economic growth after the coronavirus pandemic, the Mexican government, which is chairing the virtual conference, said on Wednesday.

Siemens announced changes to its managing board on Wednesday as the German engineering giant prepares for life after Chief Executive Joe Kaeser.