Business

Desperation led lakhs of people living in cities to return to their villages in the initial days of the total lockdown in March and April this year, in a reverse migration, as their livelihoods had disappeared and living in the city entailed huge costs.

South African miner Gold Fields said on Wednesday booming gold prices could drive up halfyear profits by more than 300%, triggering a 10% rally in its shares.

Denmark's Copenhagen Airports is considering laying off 650 staff to cope with a global aviation sector standstill as a result of the coronavirus crisis.

Soft drinks bottler Coca Cola HBC AG on Wednesday posted a drop in firsthalf profit due to coronavirusled closures of restaurants, cinemas and other public places, while saying sales had recovered some momentum from April lows as lockdowns eased.

German insurer on Wednesday posted a 29% fall in net profit in the second quarter from a year earlier and shied away from updating its fullyear profit guidance as the coronavirus pandemic slows business and clouds the outlook.

BMW said it expected an operating profit for the full year even as coronavirus lockdowns pushed the carmaker to a secondquarter operating loss as deliveries of luxury cars fell 25% during the period.

Gold scaled a new high on Wednesday as a weaker dollar and falling bond yields burnished its safehaven appeal, while shares were mostly lower as investors baulked at the ballooning cost of the coronavirus pandemic.

Virgin Australia Holdings Ltd plans to cut a third of its workforce as part of an overhaul to focus on being a shorthaul Boeing Co 737 operator under prospective new owner Bain Capital.

Gold prices hit an alltime high on Tuesday after a top U.S. Senate Democratic leader said that Democrats and the White House were closer to an agreement on the stimulus bill to help the virushit economy.

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.

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.

Ralph Lauren Corp reported a biggerthanexpected 66% fall in quarterly revenue on Tuesday, as it struggled with the coronavirusled closures of its outlets and department stores across the world.

Argentina said on Tuesday it had reached a deal with three creditor groups to restructure $65 billion in sovereign debt, which would help it climb out of a damaging default and revive an economy stuck in recession for over two years

Casual fashion brand Uniqlo's Japanese samestore sales rose 4% year on year in July as consumers stocked up on comfortable "stay at home" clothes amid the novel coronavirus pandemic, its owner, Fast Retailing Co Ltd, said on Tuesday.

Oil prices eased on Tuesday amid concerns that a fresh wave of COVID19 infections around the world will see a pickup in fuel demand stalling amid tighter lockdowns just as major producers ramp up output.

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 due to lockdowns.