Global airlines less hopeful on COVID-19 recovery

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Global airlines cut their coronavirus recovery forecast on Tuesday, saying it would take until 2024 - a year longer than previously expected - for passenger traffic to return to pre-crisis levels. In an update on the pandemic’s crippling…

McDonald's global sales suffer

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McDonald’s Corp on Tuesday reported a broad drop in global same-store sales and missed profit expectations, as its restaurants were shut due to the COVID-19 pandemic, limiting operations to only drive-thru and delivery. Shares of the Chicago-based…

Gold hits record

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Global equity benchmarks edged higher and gold soared to an all-time high on Monday as investors weighed expectations for another U.S. stimulus package against concerns that rising tensions between the United States and China will the slow the…

Intel's next-generation chips delayed until 2022

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Intel says the production of its next-generation chips will be set back until 2022, following years of delays getting its current-generation chips on sale. The company said it was exploring "contingency plans" such as having third-party manufacturers…

Netflix warns of slowdown after subscriber surge

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Netflix has seen a surge in sign-ups due to the coronavirus lockdown, but has warned investors that subscriber growth will slow. The streaming giant added more than 10 million subscribers in the three months to July, bringing the total of…

Putin orders full recovery of Russia's labour market in 2021

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Russian President Vladimir Putin ordered officials to fully restore the country’s labour market, hit by the coronavirus crisis and economic shutdowns, in 2021. During a federal budget meeting, Putin said around 3 million people were registered…

Nokia to add open interfaces to its telecom equipment

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Finland’s Nokia became the first major telecom equipment maker to commit to adding open interfaces in its products that will allow mobile operators to build networks that are not tied to a vendor. The new technology, dubbed Open Radio Access…

Oil down as U.S. virus spike stokes demand worries

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Oil prices fell amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude LCOc1 futures declined by 44 cents, or 1.02%, to $42.66, by 0935 GMT, after hitting…

EU sees deeper recession

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The eurozone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most due to the COVID-19 pandemic. The…

Zuckerberg: Advertisers will be back 'soon enough'

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As the ads boycott grows, Mark Zuckerberg shows no sign of backing down. "My guess is that all these advertisers will be back on the platform soon enough" the Facebook chief executive has said. Campaigners accuse the tech firm of being…

Tesla overtakes Toyota as most valuable carmaker

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Tesla has become the world's most valuable carmaker, overtaking Japan's Toyota, after its stock hit a record high. Shares in the electric carmaker touched $1,134 before falling back, leaving it with a market value of $209.47bn (£165bn). That…

Huawei's £1bn UK research centre approved

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Chinese firm Huawei's plans for a £1bn research centre in the UK have been approved. The tech giant, which is under a security review that could lead the UK government to ban use of its 5G network kit, has received backing for the site. As…

Google to pay for 'high quality' news in new deal

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Google says it will pay some news outlets for "high-quality" stories that it uses amid pressure from publishers. Part of the initiative will require Google to pay for its users to access news stories otherwise locked behind a so-called paywall…

Olympus quits camera business after 84 years

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Olympus, once one of the world's biggest camera brands, is selling off that part of its business after 84 years. The firm said that despite its best efforts, the "extremely severe digital camera market" was no longer profitable. The arrival…