Walt Disney has predicted that the containment measures imposed by various governments to control the novel coronavirus pandemic will cut its profits by $1.4 billion. The loss to revenues and hence profits were primarily because of its closed down theme parks.   The company however said that...

United States based chip maker Intel anncouend that it has purchased the Israel based public transit app maker Moovit in a deal worth about $900 million. The chip maker said that the this deal will help in the development of self-driving "robotaxis" that could be rolled out by the company on to the...

While reporting a 17 per cent drop in sale in the first quarter, the German fashion house Hugo Boss said that it expects the economic and business impact of the novel coronavirus pandemic to get worse before businesses are able to revive. The company however added that signals of e rebound in...

An antibody test for the detection of whether people were every infected with the coronavirus from Roche Holding AG was given emergency use approval from the United States Food and Drug Administration (FDA).     Such blood tests are currently in demand from governments, businesses and...

Despite a surge in revenues, Amazon.com Inc could post a quarterly loss for the latest completed quarter which would be the first in five years, the largest e-commerce company of the world said. The company explained the loss because of expenditure of at least $4 billion by it for measures against...

The steep plunge in global crude prices as well as demand because of the global lockdowns to fight the coronavirus pandemic have forced  Exxon Mobil Corp and Chevron Corp to temporarily reduce production of shale oil in the United States.    Both the companies announced their plans...

The increase in demand for bleach and other disinfectants during the novel coronavirus pandemic ravaging across the world has propelled the sale revenues of Clorox for its third first quarter to its highest in a decade. This prompted the company to raise its forecast for the entire year on Friday....

After announcing a 7 per cent drop in its sales for the first quarter, beer maker Carlsberg said that the worse because of the coronavirus pandemic is yet to be seen. The company reported that the increased demand and sale of beer in the supermarkets could not offset the impact to the business...

One of the largest supermarket retail chains of Britain - Sainsbury’s, issued a stark warning for profits for the current year and said that corornavirus pandemic could hit the company by more than 500 million pounds ($623 million). The company also announced deferment of any dividend payment...

The sweeping stay-at-home restrictions imposed in the United States in order to prevent the spread of the coronavirus pandemic was called "fascist" by the outspoken CEO of Tesla Inc Elon Musk even as the electric vehicle maker posted its third consecutive quarter of profits.   Those comments...

While claiming that there is currently no liquidity problem at the European plane maker Airbus, the company’s Chief Executive Guillaume Faury gas has said that the company is in talks with the French state about any potential support for aircraft deliveries.   “In crises of such importance,...