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.

Coffee prices surged this week to multi-year peaks, extending stellar gains this year after frost damaged crops in the world's biggest producer Brazil, AFP reports.

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.

UK major Heathrow Airport announced losses related to Covid-19 travel restrictions that amount to four billion dollars, Reuters reported. The airport further urged the UK cabinet to waive travel restrictions on vaccinated passengers.

Swiss bank Credit Suisse announced it had reached an agreement to end a spying scandal that involved its former employee Iqbal Khan. The allegations of spying had led to the resignation of the Chief Executive Tidjane Thiam, Reuters reported quoting a spokesperson for the bank. "Everybody involved has agreed to settle and this matter is now closed," Simone Meier said, confirming a report in Swiss newspaper NZZ am Sonntag said.

Electric cars, key to reducing emissions and meeting climate change goals, have boosted their market share in Europe, data showed on Friday, as the region prepares to abandon petrol and diesel, dpa reported. Battery electric vehicles more than doubled their share of new car sales in Europe in the second quarter, according to the European Automobile Manufacturers' Association (ACEA) which groups together major car firms.

Iran Thursday began exporting its new $2 billion exports terminal by loading 300,000 barrels on an oil tanker off the Sea of Oman, enabling the sanction-hit country to bypass the Strait of Hormuz for oil exports.

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.

NASA's Perseverance rover is preparing to collect its first Martian rock sample, the US space agency said Wednesday, DPA reports.