Citigroup Inc reported a nearly 73 per cent plunge in quarterly profit on Tuesday as the bank set aside US$5.6 billion to brace itself for a potential surge in loan defaults stemming from the coronavirus outbreak.
U.S. consumer prices rebounded in June after three straight monthly declines as businesses reopened, but the underlying trend suggested inflation would remain muted and allow the Federal Reserve to keep injecting money into the ailing economy.
Prime Minister Boris Johnson has ordered Huawei equipment to be purged completely from Britain's 5G network by 2027, risking the ire of China by signalling that the world's biggest telecoms equipment maker is no longer welcome in the West.
Prime Minister Boris Johnson's government will ban Huawei from Britain's 5G network by ordering telecoms companies to remove its equipment by 2027, Media Secretary Oliver Dowden said on Tuesday.
U.S. retail giant Walmart will lead a US$1.2 billion investment in its Indian e-commerce unit Flipkart, giving it a valuation of US$24.9 billion, Flipkart said on Tuesday.
Delta Air Lines warned on Tuesday it will be more than two years before the industry sees a sustainable recovery from the "staggering" impact of the coronavirus pandemic, with demand largely tracking the curve of infections in different places.
As the United States gears up for presidential, congressional and local elections in November, the country's economy is also on a rollercoaster ride.
India's high-tech hub of Bengaluru will go back into a coronavirus lockdown for a week on Tuesday after a surge of infections, threatening to derail government efforts to revive a stuttering economy.
Thailand's capital on Tuesday prepared to host its twice-postponed annual auto show, with organizers saying it would showcase the country's success in containing the coronavirus.
Euro zone industrial production rose in May, official estimates showed on Tuesday, but the recovery from lockdown-induced record declines March and April was lower than expected and far from offsetting past drops.
