Shell avoids loss with strong trading, wipes $17 billion off assets

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a pessimistic outlook for oil and gas prices. Shell had warned last month it was set to slash the value of its oil and gas […]

Unilever: Ice cream in, personal hygiene out in lockdown

People working from home have been eating more ice cream but neglecting their grooming habits, consumer goods giant Unilever has suggested. The firm said ice cream sales leapt 26% in the three months to June, but demand for shampoo and deodorant fell. It said it had seen strong “growth in home consumption of foods, ice […]

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Rio Tinto increases production and shipments of iron ore in spite of coronavirus

The mining giant continued to operate at all its locations through the pandemic Rio Tinto PLC (LON:RIO) has reported increased production and shipments of iron ore in the second quarter despite the coronavirus (COVID-19) pandemic amid a strong price environment. Overall, production volumes were up 1% year-on-year on a copper equivalent basis, with Pilbara iron ore production […]

Asos to repay furlough cash as lockdown sales rise

Asos will repay cash to the government it claimed for furloughing workers after its sales grew in lockdown. The online retailer said that group sales increased by 10% to £1bn in the four months to 30 June. The rise was driven by shoppers in international markets, with sales in the UK dipping by 1%. It […]

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Britain’s Dixons Carphone profit falls, skips final dividend

July 15 (Reuters) – Electricals retailer Dixons Carphone said on Wednesday annual group profit halved due to underperformance of its mobile unit, while coronavirus-induced restrictions hit sales at its stores even as online sales rose. The UK-based group abandoned its final dividend for the year and also did not issue an outlook after its adjusted […]

Smith & Nephew
Smith & Nephew sales decline eases in June as more elective surgeries begin

Hip and knee reconstruction, sports injuries, and ENT businesses were hit hardest by the impact of the pandemic. Smith & Nephew PLC (LON:SN.) said sales have declined progressively less in May and June as coronavirus lockdowns were eased in most countries. Having already revealed that underlying revenue declined 47% in April, the hip and knee replacement specialist said […]