Emirates Group plans to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, reducing employees by about 30% from more than 105,000 at the end of March, Bloomberg News reported, citing people familiar with the matter.
Tesla Inc. (TSLA) is said to have been given a green light by health officials to resume production at its main Fremont auto plant ending a stand-off between the electric automaker and Alameda County.Tesla informed employees it received approval to resume operations at its factory after Alameda County’s interim health officer had approved its Fremont work plan and safety measures, according to an email seen by Bloomberg.“We have local support to get back to full production at the factory starting this upcoming week,” Laurie Shelby, Tesla’s vice president for environmental, health, and safety told employees.The Alameda decision comes after Tesla’s …read more […]
Indian conglomerate Reliance Industries said on Sunday U.S. fund General Atlantic will buy 1.34% of its Jio Platforms digital unit for 65.98 billion rupees ($870 million).
There’s a growing realization that the COVID-19 crisis has unleashed an era of activist government that’s likely to remain a central feature of economic policy for years to come. …read more […]
Indian conglomerate Reliance Industries said on Sunday equity firm General Atlantic will buy 1.34% of its digital unit for 65.98 billion rupees ($870.25 million).
The investors in Aurora Cannabis Inc.’s (TSE:ACB) will be rubbing their hands together with glee today, after the… …read more […]
U.S. President Donald Trump is accusing Alphabet Inc.’s Google (GOOGL), Facebook Inc. (FB), Twitter Inc. (TWTR) and Instagram of being involved in an “illegal situation”.“The Radical Left is in total command & control of Facebook, Instagram, Twitter and Google,” Trump said in a Twitter post. “The Administration is working to remedy this illegal situation.”Trump’s comment was triggered by a video showing part of a speech decrying tech censorship by Michelle Markin, a conservative commentator who has been criticised for backing white nationalist activists and who has previously questioned the number of Holocaust victims.The tweets come amid a report by the …read more […]
Last week, you might have seen that Applied Materials, Inc. (NASDAQ:AMAT) released its second-quarter result to the… …read more […]
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) has dramatically ramped up its holdings of US stocks in the first quarter of the year, a new filing has revealed.The $325 billion fund, which is chaired by Crown Prince Mohammed bin Salman, made the most of the coronavirus-related stock market selloff by taking its US holdings from a total value of $2.1 billion to $9.78 billion in just three months.Sizable new positions include an $828M stake in BP Plc (BP), and a $714M stake in Boeing (BA).PIF also made significant investments in Citigroup (C), Facebook ($521M) (FB), Marriott (MAR), …read more […]
The United States is expected to revise its aid program for small businesses to cope with the economic fallout of the coronavirus outbreak, the Wall Street Journal reported on Sunday.
Temporary unemployment schemes operating across Europe could struggle to save the jobs of leisure and travel sector workers facing drawn-out or partial recoveries from the COVID-19 pandemic, even if they help industries that rebound quickly.
A month after sellers had to pay nearly $40 a barrel to get rid of U.S. oil futures, the next watershed moment looms with the expiry of the June contract on Tuesday – and so far there is little sign of a repeat of the historic plunge.
British Cabinet Office minister Michael Gove said on Sunday that there was a post-Brexit trade deal to be done with the European Union providing the bloc compromised its stance, days after both sides said talks were making little progress.
Refinancing can be smart for homeowners who have a high interest rate on their current mortgage, many years left to pay it off, or both, experts say. …read more […]
China’s commerce ministry said on Sunday it is firmly opposed to the latest rules by the United States against Huawei and will take all necessary measures to safeguard Chinese firms rights and interests.
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