Under60 Daily | 27 July 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.

[Oil & Gas] US oil production shows a slow recovery for the industry as US oil companies increase production by nearly 1.2 million barrels a day to 10.9m b/d, up from 9.7 in mid-June.

Over60: FT

[Accounting Standards] India amends its Ind AS, permitting companies to include COVID rental concessions in their P&L statement. The amendments have been made to align Ind AS with IFRS (International Financial Reporting Standards), providing much needed relief for companies.

Over60: Economic Times

[Regulation] The SEC has sent a Wells Notice to Under Armour Inc’s founder Kevin Plank and its chief financial officer in regard to the brand’s past accounting practices.

Over60: WSJ, What is a Wells Notice?

[Markets] New HK tech index struggles on debut, closing 1.3% lower on Monday, 27 July. The Hang Seng Tech index is a new index of Chinese technology stocks that trade in Hong Kong.

Over60: FT

[Currencies] The US Dollar touched a two year low amid concerns of rising coronavirus cases and dampened investor sentiment due to geopolitical factors.

Over60: FT

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