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Construction

Geberit’s sales drop on crisis

ZURICH: Swiss plumbing supplies company Geberit has reported a 15.9% drop in second-quarter sales and did not provide an annual outlook as construction activity declined during the coronavirus pandemic.

Business

Oyo slashing footprint and headcount in Japan

TOKYO: Oyo Hotels, one of the largest startups in SoftBank Group Corp’s portfolio, is dramatically shrinking its footprint and headcount in Japan as bookings in the country plunge due to travel restrictions.

Economy

Germany’s mild goods rebound

BERLIN: Orders for German industrial goods rose by 10.4% in May, rebounding from their biggest drop since records began in 1991 the previous month, data showed yesterday, as demand picked up after lockdown measures to fight the coronavirus were lifted.