Business

South African retailer Woolworths said on Friday its profits for the 52weeks to June 28 could plunge by as much as 70% due to the impact of the coronavirus crisis, high tax rate, and adoption of IFRS 16 accounting standards.

Malaysia's economy plunged into its first contraction since the 2009 global financial crisis in the second quarter as the coronavirus pandemic ravaged business activity, prompting the central bank to sharply cut its GDP forecast for this year.

Restaurant chain Ootoya Holdings, a target of a hostile bid by its largest shareholder, Colowide Co, said on Friday it had allied with online grocery delivery company Oisix Ra Daichi Inc.

KUALA LUMPUR Reuters) - Malaysia's economy shrank by 17.1% in the second quarter from a year earlier, its worst contraction in over two decades, as strict coronavirus measures at home and abroad slammed consumer spending and exports, the central bank said...

CureVac BV raised $213 million in its initial public offering on Thursday, a person familiar with the matter said, setting the stage for the first stock market debut of a company developing a promising vaccine to combat the novel coronavirus.

Stocks that moved heavily or traded substantially Thursday:

Stocks ticked down from 6month highs on Thursday on concern over a stalled U.S. economic relief deal, while oil fell and the euro edged up against the U.S. dollar.

Business events and economic reports scheduled for the coming week.

Hiring at small businesses, shifts worked across a range of industries, credit card spending and even gasoline demand that typically grows through the summer remained flat and mired far below the levels a year ago.

Oil prices eased on Thursday after the International Energy Agency lowered its 2020 oil demand forecast following unprecedented travel restrictions, but resilience in equities markets and a weak dollar limited losses.

The U.S. push to fire up its economy in the middle of a pandemic remained stalled last week with signs the lapse of emergency unemployment benefits and business grants may have begun taking a toll.

You dont have to make another federal student loan payment in 2020. Now is the time, though, to decide what to do before your bill arrives in January 2021.

British trade secretary Liz Truss said she would step up talks with her counterpart in the United states to urge Washington to drop tariffs on single malt Scotch whisky after the U.S. decided to retain the levy.

TUI, the world's largest tourism company, sunk to a 1.1 billion euro loss in its third quarter as the COVID19 pandemic stopped it providing holidays, and said it had made progress with a cost cutting programme.

The Central Board of Direct Taxes (CBDT) has carried out several major tax reforms in direct taxes in the recent years, a government statement pointed out.

Deutsche Telekom reported jumps in quarterly revenue and profit on Thursday following U.S. unit TMobile's $23 billion takeover of Sprint, while its underlying performance beat market expectations.