A jump in the price of oil and the promise of more government stimulus to ease the economic pain inflicted by the coronavirus pandemic helped calm global equity markets Wednesday, prompting investors to edge out of perceived safe havens like U.S. Treasuries.
PARIS, Reuters – Air France-KLM AIRF.PA is moving towards a 10 billion-euro ($10.9 billion) government-backed rescue deal, sources said, after France agreed to higher guarantees on loans designed to tide the airline group through the coronavirus crisis.
U.S. stock markets opened higher after a two-day selloff on Wednesday as upbeat quarterly earnings reports lifted sentiment following a record crash in oil prices, although companies warned of more pain in the coming months.
Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to better safeguard meeting data and offer protection against tampering. The new version of the app, Zoom 5.0, will release within the week, the company said in a statement.
Collapsing oil prices may be a warning sign of what is yet to come for the economy, says one energy expert. …read more […]
U.S. Treasury Secretary Steven Mnuchin said on Wednesday most, if not all, of the U.S. economy should be reopened by later in the summer after a devastating shutdown to try to stem the spread of the coronavirus.
The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus pandemic lockdowns end, including social distancing in airports and planes, the EU’s transport chief said on Wednesday.
Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to better protect meeting data and offer resistance to tampering. The new version of the app, Zoom 5.0, will release within the week, the company said in a statement.
Zoom, which has soared to 200 million daily users from 10 million in less than three months, had faced backlash from users after security researchers found bugs in its codes and the company failing to disclose that its service was not end-to-end encrypted. Zoom said it has made several changes to its user interface, including offering password protection and giving more controls to meeting hosts to check unruly participants. To account for criticism that the company had routed some data through Chinese servers, Zoom said an account admin can now choose data center regions for their meetings. …read more […]
The U.S. House of Representatives will pass Congress’ latest coronavirus aid bill on Thursday, House Speaker Nancy Pelosi said, paving the way for nearly $500 billion more in economic relief amid the pandemic.
White House economic adviser Larry Kudlow on Wednesday said the Trump administration would try to fairly distribute the next round of aid for small businesses hurt by the coronavirus outbreak, saying demand for the first round of funding was “overwhelming.”
Biogen (BIIB) has kicked off first quarter biotech earnings with a top- and bottom-line beat. However, the company surprised investors by announcing a significant delay to the aducanumab BLA (biologics license application) filing, which is now set for 3Q instead of early 2020. Aducanumab is a human monoclonal antibody designed to treat early Alzheimer’s disease.“Among the new disclosures are a pre-BLA meeting this summer and additional “formal interactions” with the FDA (such as Type C meetings); these were not previously communicated and may raise questions on how receptive FDA is to this BLA” comments JP Morgan analyst Cory Kasimov.As a …read more […]
Exelixis (NASDAQ:EXEL) shares have had a really impressive month, gaining 60%, after some slippage. And the full year… …read more […]
Brent crude oil rose on Wednesday after slumping below $16 a barrel to its lowest since 1999, supported by voluntary as well as the prospect of forced production cuts to tackle a glut caused by the coronavirus crisis.
The U.S. government is planning to fund domestic rare earths projects in an attempt to reduce its reliance on China, the global leader of the specialized sector.
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