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  • Reuters

    BP cuts dividend after record loss in Q2

    BP cut its dividend on Tuesday for the first time in a decade after reporting a record $6.7 billion loss in the second quarter as the coronavirus crisis hammered energy demand. The net loss, which was in line with analysts' expectations, was largely a result of BP's decision to wipe $6.5 billion off the value of oil and gas exploration assets after it revised sharply lower its oil and gas price forecasts. CEO Bernard Looney, who took the helm in February, avoided a dividend cut in the first quarter of the year despite worsening market conditions.

  • Swiss asset manager GAM says second-quarter outflows slow on-quarter
    Reuters

    Swiss asset manager GAM says second-quarter outflows slow on-quarter

    Outflows at GAM Holding were "materially lower" in the second quarter than in the first, the asset manager said on Tuesday, adding that its campaign to cut costs by at least 65 million Swiss francs ($70.8 million) this year was on track.

  • Reuters

    Diageo full-year organic sales fall more than expected

    Diageo Plc, the world's largest spirits maker, reported a bigger-than-expected decline in underlying net sales on Tuesday as demand for its whiskies, vodka and gin fell in all markets except North America. The Johnnie Walker whisky maker reported an 8.4% drop in organic sales for the year ended June 30, much lower than the 7.3% drop analysts had expected, according to company supplied estimates.

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