Year: 2020

The California Institute of Technology said on Wednesday that it won a $1.1 billion jury verdict in a patent case against Apple and Broadcom .

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Microsoft Corp on Wednesday reported quarterly sales and profit that beat Wall Street expectations, driven by the first acceleration of Azure cloud computing revenue growth in eight quarters amid a pitched battle with Amazon.com Inc’s cloud unit.

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British car output dropped last year at the fastest rate since the 2008-9 recession, hit by slumping exports and diesel demand, as an industry body called for an ambitious post-Brexit trade deal to protect the sector.

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Tesla Inc on Wednesday posted the second quarterly profit in a row on record vehicle deliveries and said it would deliver more than 500,000 units this year, as the electric carmaker’s shares surged to new highs.

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The ability to buy and sell foreign exchange whenever needed with minimal market impact is seen by currency traders as the biggest challenge for 2020, according to an annual client survey by JP Morgan published on Thursday.

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Samsung Electronics Co Ltd said on Thursday its operating profit fell 34% in the October-December quarter, in line with its estimate earlier this month, as the South Korean conglomerate battled a downturn in the memory chip market.

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The Tokyo Stock Exchange on Thursday suspended trading in shares of Japan Display Inc after the Nikkei business daily reported that Ichigo Asset Management would inject about 100 billion yen ($900 million) into the company.

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The outbreak of a new virus that originated in the central-Chinese city of Wuhan is likely to slow China’s economic growth at least in the near term and could hurt its trading partners around the world.

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United Parcel Service Inc said on Wednesday it was ordering 10,000 electric delivery trucks from UK-based Arrival Ltd and teaming with self-driving startup Waymo as package carriers work to cut costs and tailpipe pollution.

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Facebook Inc said on Wednesday that growth would continue to slow as its business matured and it reported a surge in quarterly expenses, disappointing Wall Street expectations that the costs of improving privacy would level off.

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The Federal Reserve will keep injecting cash into the banking system and buying billions of dollars of Treasury bills for a few more months, but it aims to start dialing back on both in the second quarter, Chair Jerome Powell said Wednesday.

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The S&P 500 ended slightly lower on Wednesday, as an initial boost from the likes of Apple, Boeing and General Electric following their quarterly results faded in the wake of a policy announcement from the Federal Reserve.

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The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with the head of the U.S. central bank pointing to continued moderate economic growth and a “strong” job market, and giving no sign of any imminent changes in borrowing costs.

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