Apple announced that the global semiconductor chip shortage has weighed down on its revenues from sales of Macs and iPads and is further expected to slow the production of iPhones. Executives of the conglomerate confirmed that revenue for the current fiscal fourth quarter will grow but would still be below the 36.4% rate in the previous quarter. Growth will also slow in Apple's closely watched services business, Reuters elaborated.

The budget carrier Wizz Air announced it was very close to reaching its pre-pandemic levels of business as most European countries eased their travel restrictions which were imposed to curb the spread of pandemic. Wizz Air said it expected to post a 118.7m euros loss but summer bookings will drag up the business activity to 90-100% percent of the capacity levels envisaged before the pandemic, Reuters elaborated.

The UK Baclays announced it would give out more than one billion dollars to investors following a strong rebound in its financial results. The earmarked sum will be disbursed in the form of dividents and stocks buybacks, Reuters elaborated. The investment bank easily beat all forecasts related to its performance in the first half of 2021.

The German insurer Allianz announced it expected claims related to damages from the storm Bernd to top 500 million euros. The storm caused deadly floods in many parts of western Germany earlier in July, Reuters reported.

US maker of electric cars Tesla announced record profits for the second quarter of this year, exceeding analysts' estimates. The surge in profits is attributed to accelerating sales of cheaper models and cost cutting, Reuters elaborated. Tesla CEO Elon Musk noted that the global semiconductor chip shortage that led to temporary factory shutdowns for the automaker, still is a serious challenge but offered no details on the timing of its Cybertruck and next-generation batteries.

US weapons maker Lockheed Martin reported a total revenue of 17 billion dollars in the second quarter of 2021, almost in line with expectations. However its space business boosted the revenues but a classified aeronautics development programme undermined the firm's results, Reuters elaborated. Lockheed's second quarter earnings report comes a year after the global pandemic first hit the industry and further damaged the supply chain, causing shutdowns, shortages and months of delays.

The popular fashion group Giorgio Armani reported a robust growth in sales by 34% in the first half of 2021 but noted that the pre-pandemic levels will hardly be reached shortly. Still the conglomerate eyes full recovery sometime in 2022, Reuters reported.

The budget carrier Ryanair announced mounting financial losses as new Covid-19 variants provoked the enforcement of new travel restrictions and raised concerns among international tourists. The Irish carrier said it still hoped to break even from the downturn sometime by the end of 2021, CNBC reported.

Daimler AG's flagship Mercedes-Benz brand on Thursday unveiled steps to accelerate its transition to all-electric vehicles, announcing plans to build battery-cell factories and saying it would be ready to go fully electric by 2030, where market conditions allow, AP reports.

The yearslong effort by state and local governments in the US to force the pharmaceutical industry to help pay to fix a nationwide opioid addiction and overdose crisis took a major step forward Tuesday when lawyers for local governments announced they were on the verge of a $26 billion settlement with the nation’s three biggest drug distribution companies and the drugmaker Johnson & Johnson, AP reports.