Business

Big Tech companies reported mixed quarterly earnings on Thursday, a day after their top executives faced a tough congressional grilling over their market power and alleged monopolistic practices. All four were affected by the pandemic, although in strikingly different ways. Google and Facebook reported slowing growth in the April-June quarter due to lagging digital ad […]

The coronavirus pandemic sent the US economy plunging by a record-shattering 32.9% annual rate last quarter and is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating. The economy’s collapse in the April-June quarter, stunning in its speed and depth, came as […]

By any measure, Nissan Motor Co Ltd has had a dreadful run in India. A push to revive its lower-end Datsun brand flopped, sales have slumped 60% over the past five years and its sole plant in the country is operating way below capacity. But the amount of money and energy that Nissan – battered […]

Asian shares turned lower in a choppy session on Friday as abysmal economic data from the United States and rising global COVID-19 cases darkened the mood, despite strong US tech earnings and manufacturing recoveries in China and Japan. European shares were expected to open broadly lower across the board, with Euro Stoxx 50 futures down […]

Oil prices recovered further ground on Friday, after touching three-week lows in the previous session, responding to a record decline in US growth as the coronavirus ravaged the world’s biggest economy and oil consumer. Brent crude was up by 14 cents, or 0.3%, at $43.08 a barrel by 0358 GMT. On Thursday, Brent closed down […]

Congressional lawmakers finally got a chance Wednesday to grill the CEOs of Big Tech over their dominance and allegations of monopolistic practices that stifle competition. But it’s not clear how much they advanced their goal of bringing some of the world’s largest companies to heel. Invective flew as legislators questioned Facebook´s Mark Zuckerberg, Amazon´s Jeff […]

Boeing suffered a bigger-than-expected loss in the latest quarter, the company announced Wednesday, and signaled additional job cuts are likely as it contends with a protracted air travel downturn amid the coronavirus pandemic. The aerospace giant, which previously suspended the dividend for shareholders and announced a 10 percent staff downsizing, also said it would phase […]

Asian markets mostly edged up Thursday after the Federal Reserve pledged to provide as much support as necessary to back up the US economy but trader sentiment remained clouded by a fresh wave of virus infections that threatens to throw any global recovery off track. While the central bank did not unveil any new measures […]