United Airlines revenue tops estimates as travel rebounds, sees 3rd-quarter turning point
United Airlines (UAL.O) reported its sixth consecutive quarterly loss on Tuesday due to the coronavirus pandemic, though revenue quadrupled from a year ago and topped estimates with a strong domestic travel rebound.
Netflix growth plan tops Wall St watchlist as lockdown love fades
Netflix Inc’s (NFLX.O) plans to revive its slowing subscriber growth will be in focus when it reports second-quarter results on Tuesday, as lockdown binge-watching subsides and competition from Disney+ and HBO Max ramps up.
U.S. housing starts accelerate, building permits skid to eight-month low
U.S. homebuilding increased more than expected in June, but permits for future home construction fell to an eight-month low, likely reflecting hesitancy caused by expensive building materials as well as shortages of labor and land.
Wall Street reverses losing streak on renewed hopes of economic revival
Wall Street rebounded on Tuesday, snapping a multi-day losing streak as a string of upbeat earnings and revived economic optimism fueled a risk-on rally.
AB Volvo warns chip woes to linger after narrow profit miss
Sweden’s AB Volvo (VOLVb.ST) warned on Tuesday of more production disruptions and stoppages this year after chip shortages prevented the truck maker from fully capitalising on strong demand for its vehicles in the second quarter.
UBS profit leaps 63% in Q2 amid wealth management boom
UBS (UBSG.S) on Tuesday posted a 63% jump in second-quarter net profit, easily beating expectations as buoyant markets continued to help the world’s largest wealth manager generate higher earnings from managing money for the rich.
Stocks falter as virus outbreaks fan global recovery fears
Asian stocks were down early on Tuesday as growing fears the spreading Delta variant of the coronavirus would harm the global economic recovery sent riskier assets, including oil, skidding sharply.
Insights from eCom Scotland into making flexible working work
These days – thanks, in part at least, to the effects of the coronavirus pandemic – people in all sectors of the economy are learning to cope with such concepts as remote work, home office, teleworking, hybrid and flexible work arrangements. Consequently, organisations now need to develop strategies and systems to support this workforce, including providing appropriate technology and redesigning work processes.
Australian central bank’s policy optimism tested by lockdowns
Australia’s central bank was counting on the economy to keep surprising with its strength when trimming stimulus earlier this month, but might now be forced to reconsider as coronavirus lockdowns spread across the country.
U.S. recession ended in April 2020, making it shortest on record
The U.S. recession touched off by the coronavirus lasted only two months, ending with a low point reached in April 2020 after thestart of a sharp drop in economic activity in March of that year, the U.S. Business Cycle Dating Committee announced Monday.
