Oil prices were mixed on Tuesday, with Brent pulling back from an early gain on profit-taking, while U.S. crude extended its rally amid signs that producers are cutting output as promised just as demand picks up on a resumption of economic activity.
A White House advisory panel on Tuesday will call for the government and private industry to work together to build new technological infrastructure to support future jobs and provide the underpinnings critical to a solid economic recovery from the coronavirus pandemic, an official briefed on the plans said.
Money trumped spying as the top motivator for data breaches last year, according to Verizon’s annual report on cyber crimes published on Tuesday.
(Bloomberg) — Moderna Inc. plans to raise as much as $1.3 billion through a sale of shares to fund manufacturing of a coronavirus vaccine seen as one of the frontrunners in the race for immunization against the widening pandemic. The U.S. biotechnology firm will sell 17.6 million shares priced at $76 a piece, according to a statement Tuesday. The price represents a 5% discount to Monday’s closing price.Morgan Stanley is the sole book-running manager for the offering that allows underwriters to buy an additional 2.64 million shares, the statement said. Bloomberg reported the share sale plan earlier.Shares jumped 20% on …read more […]
In Thailand, you cannot have food or water in flight and must wear a mask. In Malaysia and Indonesia, the plane needs to be half-empty. In the United States and Europe, it’s not mandatory for airlines to leave the middle seat open.
Governments, airlines and airports around the world are putting in place new measures to help protect travellers and allow for a return to the air during the global coronavirus pandemic.
Elon Musk hikes the price of Tesla’s “self-driving” option by $1,000 and says it will continue to rise. …read more […]
The move is part of a longer-term bet that CEO Ed Bastian highlighted to investors last month: that consumers’ perceptions of safety will be instrumental in reviving more routine travel, and that they will be willing to pay a premium for comfort. Specific details could still change, the people said on condition of anonymity, citing the uncertain timing of a recovery from the coronavirus crisis that has decimated air travel demand. Delta has publicly said that it will limit first class seating capacity at 50% and main cabin at 60% through June 30, and earlier announced that it …read more […]
In the eastern Chinese city of Yuyao, a group of five face-masked workers at a Geely auto plant, stood almost shoulder to shoulder behind an SUV as they conducted paint and other quality checks.
Delta Air Lines Inc will keep planes no more than 60% full through at least July, adding more flights to its schedule than demand would usually justify, people familiar with the matter said.
Asian shares jumped on Tuesday and oil extended gains on optimism the global economy would recover quickly following a successful early-stage trial of a coronavirus vaccine, while the euro hovered near a two-week top.
(Bloomberg) — Nasdaq is set to unveil new rules for initial public offerings including tougher accounting standards that will make it more difficult for some Chinese companies to list on the exchange.Under the new rules, companies from countries, including China, will need to raise at least $25 million in their IPO or alternatively at least a quarter of their post-listing market capitalization, according to Nasdaq filings seen by Bloomberg News. Many IPOs by Chinese firms are smaller than that and are thinly-traded as shares are held by a small group of insiders.“The exchange believes that the proposal to require a …read more […]
Qantas Airways Ltd could restart 40-50% of its domestic capacity in July if states relax border controls, and expects to offer low and flexible fares without social distancing measures to stimulate travel demand, its chief executive said on Tuesday.
(Bloomberg) — Sony Corp. and Microsoft Corp. have partnered to embed artificial intelligence capabilities into the Japanese company’s latest imaging chip, a big boost for a camera product the electronics giant describes as a world-first for commercial customers.The new module’s big advantage is that it has its own processor and memory built in, which allows it to analyze video using AI tech like Microsoft’s Azure, but in a self-contained system that’s faster, simpler and more secure to operate than existing methods.The two companies are appealing to retail and logistics businesses with potential uses like optimizing warehouse and factory automation, quantifying …read more […]
(Bloomberg) — Another early investor of Moderna Inc. is on the cusp of owning a stake worth at least $1 billion after the biotech firm reported encouraging early trial results for an experimental Covid-19 vaccine.The value of board member Bob Langer’s 3.2% holding, including stock options, rose to $934.3 million Monday, as the shares surged 20% to a record $80 each. Langer, a professor at the Massachusetts Institute of Technology, would be at least the third individual with Moderna holdings topping $1 billion, joining Chief Executive Officer Stephane Bancel and Harvard University professor Timothy Springer.Moderna, whose shares have more than …read more […]
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