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Telenor cuts FY outlook as underlying revenues turn lower in Q2
2020-07-16 09:19:00| Telecompaper Headlines
(Telecompaper) Telenor has lowered its outlook for full-year results, after the Covid-19 outbreak led to a slowdown in the second quarter. Organic growth in subscription and traffic revenues turned negative in the quarter, down 3.6 percent, and Telenor now expects a low single-digit decline over the full year. Cost reductions helped the company lift EBITDA in the quarter, and Telenor targets a stable result in the full year.
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turn
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underlying
OPEC+ Set to Ease Record Oil Production Cuts from August
2020-07-15 15:00:00| OGI
OPEC and its allies, including Russia, have been cutting output since May by 9.7 million bbl/d, or 10% of global supply, after the virus destroyed a third of global demand.
Tags: set
august
record
production
Shale Producer Diamondback Energy Cuts 2020 Production Forecast
2020-07-15 11:10:00| OGI
Diamondback Energy, which operates in the Permian Basin, said it had suspended almost all completion activity and cut about 5% of production in the second quarter.
Tags: production
energy
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cuts
Firms start price cuts as 4bn VAT boost begins
2020-07-15 01:24:28| BBC News | Business | UK Edition
Starbucks and McDonald's are the latest firms to cut some prices, but not all businesses can afford to do so.
Tags: price
start
begins
firms
Coronavirus: UK faces tax rises or spending cuts, OBR warns
2020-07-14 11:47:40| BBC News | Business | UK Edition
The Office for Budget Responsibility warns of more austerity as the economy is set to shrink 12.4% in 2020.
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