Year: 2020

…read more […]

Apple Inc on Tuesday is expected to unveil new Mac computers using its own in-house processor chips, a move that could reignite a race to control the market for desktop and laptop chips and benefit players such as Qualcomm Inc. The market has been dominated by Intel Corp and Advanced Micro Devices Inc since 2006, when Apple joined most other major computer makers in using chips based on Intel’s ‘x86’ computing architecture. On Tuesday Apple is expected to start a two-year process of ending its nearly 15-year relationship with Intel by introducing Mac computers with Apple-designed chips based …read more […]

(Bloomberg) — Oil in London jumped by the most since June as Pfizer Inc. reported a potential Covid-19 vaccine breakthrough.Futures in London rose by 8.3% to $42.74 a barrel following a broad rally in equity markets, while West Texas Intermediate also jumped.The vaccine being developed by Pfizer and BioNTech SE prevented more than 90% of infections in a study of tens of thousands of volunteers, the most encouraging scientific advance so far in the battle against the coronavirus.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P. …read more […]

* 1 Canadian Medical Position by Cannabis Net Revenue & Strong International Medical Growth * Cannabis Net Revenue of $67.8 million, Adjusted Gross Margin of 48%, or 52% Excluding Nordic 1 Ramp Up Costs * Achieved Targeted SG&A; During Q1 2021NYSE | TSX: ACBEDMONTON, AB, Nov. …read more […]

…read more […]

Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19 based on initial data from a large study. …read more […]

Achieved record quarterly net revenue of $135 million Net Loss of $97 million; Adjusted EBITDA loss of $86 million, a 43% improvement versus Q2 FY20Implementing initiatives to capture $150-$200 million of savings across our cost structureIncreased market share by 200 basis points in Canadian recreational market based on our proprietary market share trackerBuilding momentum in the U. and establishing foundation for long-term leadership positionSMITHS FALLS, ON, Nov. …read more […]

Top news and what to watch in the markets on Monday, November 9, 2020. …read more […]

(Bloomberg) — U.S. equities resumed last week’s upward march, advancing as traders pressed bets that President-Elect Joe Biden will bring steadier stewardship of the American economy.Bulls picked up where they left off in the best week for U.S. share indexes since April, undaunted by some of the highest equity valuations in two decades and the resurgent coronavirus. Up four of the last five days, the S&P 500 sits 2% away from the record it set at the start of September.Contracts on the S&P 500 were up 1.5% as of 08:20 a.m. in London. The underlying index rallied 7.3% last week …read more […]

The Norwegian government will not provide additional financial support for pandemic-hit Norwegian Air the Industry Ministry and the Ministry of Transportation said on Monday, leaving the cash-strapped carrier in a precarious situation. A pioneer in low-fare transatlantic air travel, Norwegian Air’s rapid expansion left it with debt of close to $8 billion by mid-2020, making it vulnerable to the fallout from the COVID-19 pandemic. “That the government has decided to reject the request for funds is disappointing and feels like a punch in the gut for everyone at Norwegian,” Chief Executive Jacob Schram said. …read more […]

(Bloomberg) — Apple Inc. suspended new business with key supplier Pegatron Corp. after discovering labor violations at a student workers’ program, taking strong action to clean up its Chinese-focused production chain.The Cupertino, California-based technology giant said it discovered several weeks ago that the Taiwanese iPhone manufacturer misclassified student workers and allowed some to work nights and overtime in violation of Apple’s Supplier Code of Conduct. Apple has since placed its partner on probation and won’t give them new business until corrective action is completed.Pegatron is one of just a handful of partners Apple relies on globally to assemble marquee products …read more […]

Oil prices gained more than 2% on Monday, with Brent futures rising above $40 a barrel, after Joe Biden clinched the U.S. presidency and buoyed risk appetites, offsetting worries about the impact on demand from a worsening coronavirus pandemic. Oil recovered from a 4% decline on Friday, rising along with other financial markets after Biden emerged as the winner in the U.S. presidential race on Sunday. “Trading this morning has a risk-on flavour, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market …read more […]

Investors expecting an imminent COVID-19 vaccine are beginning to buy bank stocks and industrials in anticipation of a roaring return in consumer confidence, though many remain wary of risks in sectors ravaged by the pandemic. As the market hype around the U.S. election ebbs, investors are now preparing for good vaccine news, which they believe is a matter of when, not if. “It’s going to be absolutely massive,” said Stuart Oakley, head of cash currency trading at Nomura in London. …read more […]

Tesla Inc. (NASDAQ: TSLA) announced Sunday that the total number of electric vehicle Superchargers deployed by the company has crossed 20,000 globally.What Happened: Tesla describes the Supercharger network as the “world’s fastest charging network.” The Elon Musk-led company has been looking to expand it aggressively, particularly in urban settings, but has frequently fallen short of its stated targets.> 20k Superchargers and counting pic.twitter.com/urudyt9Eui> > — Tesla (@Tesla) November 8, 2020The EV maker planned to have 18,000 Superchargers in its network as of 2018-end, but the actual number of deployed units was at 12,000 by the end of the year, according …read more […]

Nov.08 — Deborah Lehr, vice chairman and executive director at Paulson Institute, discusses the relations between the U.S. and China and how they could change under a Biden presidency. She speaks on “Bloomberg Markets: China Open.” …read more […]