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Under60 Daily | 10 August 2020

Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.

[Economy] Bank of England estimates that the British economy will take at least until the end of 2021 to make up ground lost during the pandemic, after an estimate that it shrunk by around 20% in Q2 2020, compared to 9.5% in the US and 12% for the Eurozone.

Over60: WSJ, The Guardian

[Markets - Defense] Shares of Indian defense equipment manufacturers and suppliers rose 11% on Monday after the Ministry of Defense announced a ban on the import of 101 defense items.

Over60: Business Standard

[Earnings] Saudi Aramco posts Q2 profit of $6.57 billion, a 73% plunge compared to the same time last year.

Over60: ET

[Markets - Pharmaceuticals] Shares of India's Cipla Limited shot up 11.7% to a record high of INR 814.45 after strong quarterly results, driven by a 20% growth in profit before tax and a 9% growth in revenues.

Over60: Business Standard

[Misconduct] McDonald's sues former CEO Steve Easterbrook to recover tens of millions of dollars in severance pay after an investigation found that he had lied about having affairs with employees.

Over60: WSJ, CNN

[Government Lending] Kodak's heavily scrutinized $765 million loans from the US Government will not move forward until a review of wrongdoing allegations are cleared. Kodak shares dropped 40% on the news.

Over60: CNN

[Economy] Morgan Stanley warns of higher US inflation as an outcome to

aggressive monetary and fiscal policies that the Federal Reserve has undertaken

in response to COVID-19.

Over60: FT




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Under60 Daily | 27 November 2020

Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute. [Int

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