Business

Ralph Lauren Corp said on Tuesday its quarterly revenue plunged by nearly $1 billion, as it struggled with coronavirusled store closures and a slowdown in demand for luxury goods across the world.

Typically a boon for emerging markets, this year's plunge in the U.S. dollar may fail to boost the developing world's prospects as the raging pandemic hits economic activity, increases poverty and exposes weak policymaking.

Diageo Plc, the world's largest spirits maker, took a 1.3 billion pound writedown as it reported a bigger than expected decline in underlying net sales on Tuesday as demand for its whisky, vodka and gin fell in nearly all markets.

Recessionhit Argentina said on Tuesday it had reached a deal with three creditor groups to restructure $65 billion in defaulted sovereign debt.

Mitsubishi UFJ Financial Group Inc (MUFG), Japan's largest lender by assets, said on Tuesday its firstquarter net profit more than halved as creditrelated costs ballooned due to the coronavirus pandemic.

Japan's Sony Corp on Tuesday reported a 1.1% drop in firstquarter operating profit, bracing for the lowest annual profit in four years as the coronavirus outbreak continues to dampen various business segments.

German fashion house Hugo Boss said on Tuesday it had returned to strong growth in China in June and online sales jumped 74% in the second quarter even as it reported an overall 59% fall in sales for the period on Tuesday due to lockdowns.

German fashion house Hugo Boss said on Tuesday it had returned to strong growth in China in June and online sales jumped 74% in the second quarter even as it reported an overall 59% fall in sales for the period on Tuesday due to lockdowns.

Subaru Corp on Tuesday forecast its annual operating profit would drop to a nineyear low this year as it expects to take a sales hit in the United States, its largest market where the number of coronavirus infections continues to climb.

Subaru Corp on Tuesday forecast its annual operating profit would drop to a nineyear low this year as it expects to take a sales hit in the United States, its largest market where the number of coronavirus infections continues to climb.

The U.S. Federal Aviation Administration said on Monday it is proposing requiring four key Boeing Co 737 MAX design and operating changes to address safety issues seen in two fatal crashes that led to the plane's grounding in March 2019.

U.S. President Donald Trump said on Monday he does not mind if Microsoft Corp buys the Chineseowned shortvideo app TikTok, but any purchase by an American company would have to be done by a Sept. 15 deadline.

The German body in charge of regulating auditors is examining the work of EY, the auditor that approved the books of collapsed payment services firm Wirecard , the German Economy Ministry said on Monday.

Warren Buffett's favourite holding period forever has few fans these days, with the average length of time shares spend in a portfolio hitting record lows this year as investors surf wild market swings for quick gains.

Oil prices fell on Monday on oversupply worries as OPEC and its allies are set to wind back output cuts in August and a rise in worldwide COVID19 cases points to a slower pickup in demand.

China's factory activity expanded at the fastest pace in nearly a decade in July as domestic demand continued to improve after the coronavirus crisis, though export orders and employment remained weak, a private business survey showed on Monday.