Year: 2020

“This is an important agreement for the future of connectivity in one of the world’s largest telecoms markets and solidifies our position in India,” Nokia Chief Executive Officer Rajeev Suri said in a statement. Nokia said the Indian firm’s rollout, which will also lay the foundation for providing 5G connectivity in the future, will see some 300,000 radio network units deployed across nine circles in India, but did not give any financial details of the deal. Nokia said the deal includes Nokia’s Single Radio Access Network solution, AirScale Radio Access, Baseband, related Services, and it will be completed …read more […]

The world’s largest wealth manager, UBS, reported a 40% increase in first-quarter net profit on Tuesday, as clients upped trading activity during market turmoil sparked by the coronavirus outbreak and as it extended more loans to its wealthy clients. The bank had previously said it expected to report first-quarter net profit of around $1.5 billion, with strong operating performance across all its business divisions, even after accounting for the risk of higher defaults as a result of the virus. It reported net profit of $1.595 billion on Tuesday. …read more […]

(Bloomberg) — U.S. stocks may be able to look through a dismal earnings season or two, and the deepest economic contraction in modern history, according to analysis by Goldman Sachs Group Inc.That’s based on historical analysis that suggests equities price in macroeconomic performance over a two-year horizon. As long as projections are — as they indeed are now — for the economy to rebound after the current and coming period of pain, then stocks don’t need to fall, the Wall Street bank concluded.“Investors usually discount at least the next two years of macroeconomic performance, suggesting markets may continue to look …read more […]

(Bloomberg) — Gold fell for a third day as a drumbeat of moves toward reopening economies plus gains in stocks eroded appetite for havens, with prices sinking below $1,700 an ounce ahead of policy announcements from two of the world’s leading central banks.The precious metal eased after U.S. equities hit the highest in almost seven weeks as states including Florida took steps toward easing restrictions. Italy, one of the countries hit hardest, prepared to begin reopening, although the World Health Organization warned the coronavirus pandemic is far from over.While bullion is still near the highest in more than seven years …read more […]

The company’s shares have slumped this month since it revealed $310m in fabricated transactions. …read more […]

Oil prices slumped on Tuesday, extending the previous session’s slide, on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly as coronavirus pandemic restrictions are gradually eased. U.S. West Texas Intermediate (WTI) crude futures skidded by as much as 16% and were off 14.7%, or $1.88 cents, at $10.90 a barrel as of 0158 GMT. Brent crude futures fell to a low of $18.97 and were last down 4.1%, or 82 cents, at $19.17 a barrel. …read more […]

American will begin handing out masks to passengers next month but won’t require that they be worn. JetBlue is mandating masks but won’t be giving them out. …read more […]

Earnings season kicks into high gear Tuesday. A slew of big names will deliver quarterly results, but the spotlight will be on Alphabet, Starbucks and Advanced Micro Devices after the closing bell. …read more […]