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NEW YORK: Berkshire Hathaway Inc on Saturday announced a $9.8 billion writedown and 10,000 job losses at its Precision Castparts aircraft and industrial parts business, as the Covid-19 coronavirus pandemic caused widespread pain for Warren Buffett's conglomerate.
LONDON: Royal Dutch Shell avoided its first quarterly loss in recent history helped by its trading business but announced nearly US$17bil in impairment charges reflecting its lowered short-term oil and gas price outlook.
FRANKFURT: Volkswagen unveiled a first-half operating loss on Thursday after the carmaker suffered a 27% drop in vehicle deliveries due to the coronavirus pandemic, a step which forced to carmaker to slash its dividend.
LONDON: Barclays has set aside a higher than expected £1.6bil to cover a possible rise in loan losses in the second quarter of the year, as the economic impact of the coronavirus pandemic begins to bear down on its consumer business.
Pandemic may herald permanent change to consumer habits
Automaker to report its results tomorrow
KUALA LUMPUR: Kenanga Investment Bank Research is slashing its earnings forecasts on Media Chinese International Bhd (MCI) following a profit warning for the first quarter of its 2021 financial year.
BRUSSELS: Investors are snapping up Italy’s government debt with as much appetite as during previous European summers, when the high yields proved the perfect place to pick up a steady return while volatility is low.