The Americas will bear the brunt of an estimated 305 million job losses that the COVID-19 pandemic will cause worldwide between April and June, the International Labour Organization (ILO) said on Wednesday.
(Bloomberg) — At a factory near Germany’s border with the Czech Republic, Volkswagen AG’s ambitious strategy to become the global leader in electric vehicles is coming up against the reality of manufacturing during a pandemic.The Zwickau assembly lines, which produce the soon-to-be released ID.3 electric hatchback, are the centerpiece of a plan by the world’s biggest automaker to spend 33 billion euros ($36 billion) by 2024 developing and building EVs. At the site, where an East German automaker built the diminutive Trabant during the Cold War, VW eventually wants to churn out as many as 330,000 cars annually. That would …read more […]
Ryanair expects Britain to join other European nations in dropping COVID-19 quarantine plans in the coming weeks, its CEO told Reuters on Wednesday, as he reported a “big surge” in holiday bookings from the country.
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies, one day after Twitter Inc for the first time added a warning to some of his tweets prompting readers to fact check the president’s claims.
Greensill Capital said it has dropped a libel suit against Reuters over a story which said that the financing group had provided a false statement to market participants in 2018.
Oil prices fell on Wednesday after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong.
National Oilwell Varco Inc (NOV) has had a rough few years: Since 2017, the Houston company, whose drilling equipment is in major oilfields worldwide, has lost two-thirds of its value, costing shareholders a combined $9 billion.
U.S. applications for home mortgages jumped last week, in a sixth straight weekly increase, suggesting the housing market could lead the economy’s recovery from the novel coronavirus crisis even as high unemployment is expected to linger.
The greatest form of wealth can’t be inflated away.
As the folks in Washington debate who’s next on their list to get a slug of freshly printed money… and as the stock market shrugs off one of the market’s greatest interruptions ever… it’s time to measure what we have in a different way.
Last Friday, our good pal Mark Ford mused about the idea of working with friends.
It’s a bad idea, he concluded, never to be done again.
We never would have guessed it’d be a controversial topic. Mark’s piece was filled with real-life experience, wisdom and old-fashioned common sense.
But nearly as soon …read more […]
India’s antitrust body is looking into allegations that Alphabet Inc’s Google is abusing its market position to unfairly promote its mobile payments app in the country, five sources familiar with the case told Reuters.
The automaking alliance of Renault SA , Nissan Motor Co and Mitsubishi Motors Corp outlined a new strategy on Wednesday whereby the strongest partner takes the lead in areas such as new technologies and parts procurement.
Renault , Nissan Motor Co and Mitsubishi Motors Corp ruled out a merger on Wednesday and instead said they would cooperate more closely on vehicle development to slash costs and salvage their troubled alliance.
Ryanair expects Britain to join European nations in dropping COVID-19 quarantine plans in the coming weeks, Chief Executive Michael O’Leary said in an interview on Wednesday, reporting a “big surge” in holiday bookings from the country.
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