Novartis Chief Executive Vas Narasimhan said on Tuesday that the “extremely disruptive environment” posed by the coronavirus pandemic had dimmed the Swiss drugmaker’s 2020 revenue outlook, after reporting a drop in quarterly sales and profit. ZURICH: Novartis Chief Executive Vas Narasimhan said on Tuesday that the “extremely disruptive environment” posed […]
Business
BEIJING: Chinese Starbucks customers can order the coffee chain’s drinks on Alibaba’s Taobao marketplace and mobile map app Amap, the companies said on Tuesday (Jul 21), expanding a partnership signed in 2018. Starbucks’ mobile pre-order and in-store pick up feature, Starbucks Now, previously only available on the coffee giant’s own […]
BRUSSELS: European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies at a pre-dawn meeting on Tuesday (Jul 21) after a fractious summit that went through the night and into its fifth day. Summit chairman Charles Michel tweeted “Deal” shortly after the 27 leaders reached […]
SINGAPORE: Southeast Asian low-cost carriers, a key growth engine for planemakers and leasing companies for a decade before the pandemic, are faltering financially as demand plunges, raising questions over whether they can replace and double their fleets. Auditors for Malaysia’s AirAsia Group and Vietnam’s VietJet Aviation are concerned about cashflows […]
The shock of the pandemic has spared no one, but the costs have not been evenly distributed. REUTERS: The shock of the pandemic has spared no one, but the costs have not been evenly distributed. Office workers who can telecommute have generally been able to retain their income, while many […]
SINGAPORE: Temasek Holdings reported a 2.2 per cent drop in annual net portfolio value in a pandemic-hit year as it unveiled preliminary performance and said it was ready to invest in opportunities arising from volatile market conditions. For the year ended Mar 31, Temasek’s net portfolio value fell to S$306 […]
SYDNEY: Australia will extend record stimulus spending into next year, the government announced on Tuesday (Jul 21), outlining multi-billion-dollar measures to shield the labour market from the ravages of the rolling coronavirus crisis. Prime Minister Scott Morrison said that supplements both to the unemployed and businesses struggling to retain staff […]
FORT LAUDERDALE, Florida: A federal judge has dismissed a lawsuit accusing Burger King of deceiving vegan, vegetarian and other customers into thinking it cooked the plant-based patties for its “Impossible Whopper” on different grills than those used to cook beef and chicken. In a decision on Monday (Jul 20), US […]
Logitech International reported a more than 75per cent increase in non-GAAP operating income in its first quarter as rise in homeworking boosted demand for its webcams, video conferencing products and headsets during the coronavirus lockdowns. REUTERS: Logitech International reported a more than 75per cent increase in non-GAAP operating income in […]
Oil prices were little changed on Tuesday, trapped in the narrow trading band of the past three weeks as investors gauged hopes for a recovery in oil demand against fears of new lockdowns due to a growing number of coronavirus cases. TOKYO: Oil prices were little changed on Tuesday, trapped […]