Business

Suzuki Motor Corp on Monday saw its operating profit nearly wiped out during the first quarter because of plunging car demand in India, its biggest market which has one of the world's highest novel coronavirus infection rates.

HSBC Holdings PLC warned of rising bad debt charges and a falling core capital ratio after posting a higherthanexpected 65% tumble in firsthalf pretax profit as the coronavirus pandemic hit the bank's business worldwide.

Oil prices fell on Monday on oversupply concerns as OPEC and its allies wind back production cuts in August and a rise in worldwide COVID19 cases points to a slower pickup in fuel demand.

U.S. online prescription drug price marketplace GoodRx Inc has submitted paperwork with the U.S. Securities and Exchange Commission for a potential initial public offering, according to people familiar with the matter.

Asian share markets turned mixed on Monday as U.S. lawmakers struggled to hammer out a new stimulus plan amid a global surge of new coronavirus cases, though a squeeze on crowded short positions gave the dollar a rare bounce.

Brazil has chosen Andre Brandao, head of global banking and markets for the Americas at HSBC in the country, as the new chief executive of statecontrolled lender Banco do Brasil SA, a government source said on Saturday.

As part of the 'Aatmanirbhar Bharat Abhiyan' package, the finance minister in May had announced that there will be a maximum of four public sector companies in strategic sectors, and state-owned firms in other segments will eventually be privatised.

Caterpillar Inc on Friday predicted no improvement in equipment sales, an outlook that sent its shares down after secondquarter earnings sank during a crippling recession sparked by the coronavirus pandemic, which made customers wary of big purchases.

U.S. consumer spending increased for a second straight month in June, setting up consumption for a rebound in the third quarter, though the recovery could be limited by a resurgence in COVID19 cases and the end of expanded unemployment benefits.

Caterpillar Inc on Friday reported a betterthanfeared 70% fall in secondquarter earnings as the pandemic made customers wary of big purchases.

Rajan said that because of the slide in the growth over the last few years, India entered the current crisis in a more "debilitated" state as compared to its peers.

Stock markets, oil prices and the dollar slid on Thursday after President Donald Trump raised the possibility of delaying the U.S. presidential election scheduled for November, an unprecedented move that unnerved investors.

DuPont reported a bigger secondquarter loss on Thursday and wrote down the value of its automotive business by $2.5 billion, one of its biggest markets that has been hard hit by the COVID19 pandemic.

Johnson & Johnson on Thursday kicked off U.S. human safety trials for its COVID19 vaccine after releasing details of a study in monkeys that showed its bestperforming vaccine candidate offered strong protection in a single dose.

China will ensure policy support for the economy in the second half, in the face of a "severe and complex" economic situation, a top decisionmaking body of the ruling Communist Party body said on Thursday.

Malaysia's AirAsia X Bhd fell to a net loss in its first quarter as the pandemic slowed air travel demand and continues to face severe liquidity constraints, it said in a bourse filing late Thursday.