News Highlights: Top Company News of the Day
|08/06/2020 | 05:16am|
Lufthansa Posts EUR1.5B Loss
Lufthansa reported a second-quarter loss of EUR1.5 billion but said it will gradually ramp up capacity during the last six months of the year to around 55% on short and medium-haul flights and 50% on long-haul.
Siemens Industrial Profit Beats Hopes
Siemens posted an above-forecast rise in industrial profit to EUR1.79 billion in the third-quarter, but said it expects a moderate decline in comparable revenue for the fiscal year.
Adidas Swings to Loss But Sees Recovery Under Way
Adidas said it expects revenue to recover as the sports-gear group's stores continue to reopen and digital sales thrive after the coronavirus lockdowns pushed the company into a net loss in the second quarter.
Glencore Scraps Dividend as Profit Tumbles
Glencore posted a sharp drop in first half underlying earnings to $4.83 billion after it booked significant impairments related to lower prices, and said it won't pay a dividend for 2020.
ING Profit Misses Consensus
ING reported a lower-than-expected net profit of EUR299 million for the second quarter after the Dutch bank booked a coronavirus-related impairment charge of EUR300 million.
AXA Earnings Drop; Confirms Full-Year Hit
AXA reported a sharp drop in first half underlying earnings to EUR1.89 billion and confirmed it faces a EUR1.5 billion coronavirus-related hit in 2020.
UniCredit Confirms Outlook as 2Q Tops Estimates
UniCredit reported a better-than-forecast second quarter net profit of EUR420 million, despite provisions rising by almost a third, and confirmed its guidance for 2021.
Credit Agricole Profit Drops 22%
Credit Agricole posted a better-than-expected second-quarter net profit of EUR954 million despite provisions for soured loans more than doubling to EUR842 million.
Toyota's Profit Falls 74% as Pandemic Hurts Sales
Toyota Motor's first-quarter net profit slumped 74% to $1.50 billion, as the coronavirus pandemic hit sales around the world
Facebook, Twitter Take Down Trump Video
Facebook and Twitter removed a video posted by President Trump in which he said children are "almost immune" from Covid-19, a claim that the companies said ran afoul their rules against harmful misinformation about coronavirus.