Aston Martin said on Thursday it plans to restart its St Athan factory in south Wales on May 5 and will also resume operations at Gaydon later, after the coronavirus-led shutdowns forced the luxury car maker to suspend production at both sites.
Sweden’s AB Volvo on Thursday warned of weakening truck demand despite reporting a smaller-than-expected fall in quarterly operating earnings helped by service sales.
Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to quell safety concerns as its users surged by 50% in the past three weeks.
Air France-KLM must scrap all of Chief Executive Ben Smith’s bonus payments for this year if it wants to secure state aid, Dutch Finance minister Wopke Hoekstra said on Thursday.
The dollar erased gains and fell against the currencies of oil producers on Thursday, as a rebound in crude prices after an unprecedented collapse helped to calm markets unnerved by the massive coronavirus-led drop in global demand.
Credit Suisse Group AG posted a 75% rise in first-quarter net profit on Thursday, even as it cautioned the global coronavirus pandemic could impact performance in coming quarters.
Shares in biopharma Immunomedics (IMMU) soared 29% in Wednesday’s after-market trading following an early FDA approval for Trodelvy (sacituzumab govitecan) in triple-negative breast cancer. The drug is approved for patients who have already received two other lines of therapy for metastatic disease.The decision had been expected on the PDUFA date of June 2nd, so the announcement took investors and analysts by surprise.Previously, in January 2019, IMMU received a CRL (complete response letter) from the FDA on its first filing attempt seeking accelerated approval for the drug.“The issues related to approvability in the CRL were exclusively focused on Chemistry, Manufacturing and …read more […]
Sweden’s AB Volvo reported a smaller-than-expected fall in quarterly operating earnings on Thursday as service sales held up in the face of tumbling sales and orders of its trucks as demand evaporated in the face of the coronavirus.
Swedish truck maker AB Volvo reported a smaller-than-expected fall in first-quarter operating earnings on Thursday but warned its net order intake of trucks had been negative since the end of March as customers canceled planned purchases due to the pandemic.
French carmaker Renault on Thursday posted a 19.2% drop in first-quarter revenue to 10.13 billion euros ($10.97 billion), and said it was still too early to assess what impact the coronavirus crisis would have on its earnings this year.
South Korea’s Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% to its lowest level for the quarter in a decade as the spreading coronavirus outbreak hit demand for cars worldwide.
South Korea’s Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% from a year earlier as the spreading coronavirus outbreak hit demand for cars worldwide.
U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as they struggle under heavy debt loads and a dual supply/demand shock in the worst crisis the oil industry has faced.
A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in U.S. history were wiped out in about a month as the novel coronavirus savages the economy.
(Bloomberg) — Some of the world’s largest companies have advised against the use of Zoom Video Communications Inc.’s conferencing app, fueling a growing backlash against a service that shot to prominence during the Covid-19 pandemic.Daimler AG, Ericsson SA, NXP Semiconductors NV and Bank of America Corp. are among a wave of companies forbidding or warning employees against using Zoom because of concerns about its security, according to people familiar with their operations. They join corporations like Tesla Inc. and government agencies from Taiwan to Singapore that have banned the app’s use. India has deemed Zoom an unsafe platform and initiated …read more […]
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