October 28, 2020 - Biz in 60

Business in 60 Seconds

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October 28, 2020 - Biz in 60

Business in 60 Seconds

Boeing to make deeper job cuts as its sales slump Boeing is deepening job cuts as the pandemic and the grounding of its 737 MAX jet continued to weigh on its finances. The US plane-maker says it will slash another 7-thousand positions by the end of next year, bringing the total number of job cuts to 30-thousand people. Meanwhile, the company has reported a 401-million- dollar loss in the three months through September. Demand for cloud services boosts Microsoft's Q1 earnings Microsoft has smashed expectations for its first quarter thanks to a global shift to working from home and online learning during the pandemic. Net income at the US software giant rose 30-percent from a year ago to 14-billion- dollars. Earnings were boosted by a surge in demand for cloud computing services and video games. French supermarket chain Carrefour's sales rise 8.4% in Q3 Europe's largest supermarket chain, Carrefour, has delivered its strongest sales growth in more than two decades, driven by better performances in France, Spain and Brazil. Sales came in at 23-point-3 billion dollars in the third quarter, marking an 8-point-4 percent increase. Carrefour also says it's on track with its previously announced cost-cutting plan.
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Boeing to make deeper job cuts as its sales slump Boeing is deepening job cuts as the pandemic and the grounding of its 737 MAX jet continued to weigh on its finances. The US plane-maker says it will slash another 7-thousand positions by the end of next year, bringing the total number of job cuts to 30-thousand people. Meanwhile, the company has reported a 401-million- dollar loss in the three months through September. Demand for cloud services boosts Microsoft's Q1 earnings Microsoft has smashed expectations for its first quarter thanks to a global shift to working from home and online learning during the pandemic. Net income at the US software giant rose 30-percent from a year ago to 14-billion- dollars. Earnings were boosted by a surge in demand for cloud computing services and video games. French supermarket chain Carrefour's sales rise 8.4% in Q3 Europe's largest supermarket chain, Carrefour, has delivered its strongest sales growth in more than two decades, driven by better performances in France, Spain and Brazil. Sales came in at 23-point-3 billion dollars in the third quarter, marking an 8-point-4 percent increase. Carrefour also says it's on track with its previously announced cost-cutting plan.
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