May.17 — The Trump administration moved to prevent chipmakers using U.S. technology from supplying Huawei Technologies Co. Tom Mackenzie reports on “Bloomberg Daybreak: Australia.” …read more […]
General Motors Co is tentatively planning to restart operations at its auto assembly plant in the Mexican city of Silao on May 20, according to a message to workers seen by Reuters on Sunday, as the car industry prepares to exit the coronavirus lockdown.
The United States needs to quickly revise its coronavirus aid program for small businesses to extend the eight-week period in which the law currently requires companies to spend the money, a key U.S. senator said on Sunday.
Stocks ended a volatile week on a high note, despite more ugly data. …read more […]
General Motors Co signaled that it was tentatively planning to restart operations at its auto assembly plant in the Mexican city of Silao on May 20 after the coronavirus outbreak stalled production, according to a message to workers seen by Reuters.
(Bloomberg) — Royal Caribbean Cruises Ltd. was in a quandary.The company needed to raise money while its ships were docked amid the Covid-19 pandemic, and the bond market was open if Royal Caribbean was willing to mortgage ships as collateral. Similar deals had worked for rivals like Viking Cruises and Norwegian Cruise Line Holdings Ltd.Royal Caribbean had plenty of ships to offer. The problem? S&P Global Ratings had slashed its credit grade to junk, and the cruise company was expecting Moody’s Investors Service to follow. With those downgrades came steep restrictions on how much of its assets could be pledged …read more […]
(Bloomberg) — U.S. coronavirus cases rose 1.5% in the past 24 hours, the third straight daily decline. New York’s western region and the area around Albany are poised to reopen. The Trump administration stepped up attacks on China, accusing the nation — without evidence — of sending airline passengers to spread the virus. A Walt Disney mall in Florida will begin to open this week.The U.K. will be first in line to get an AstraZeneca vaccine. Tesla received permission to reopen its California factory after first defying local officials.Key Developments:Virus Tracker: Cases top 4.6 million; deaths exceed 314,000Pandemic shatters world …read more […]
German ailing conglomerate Thyssenkrupp is in talks with international peers about consolidating its loss-making steel business, a person familiar with the matter said.
Microsoft Corp. (MSFT) has signed a definitive agreement to buy virtualized network software provider Metaswitch Networks to help boost its exposure to 5G and increase its offerings for the telecommunications industry.Terms of the deal weren’t disclosed. Private equity-backed Metaswitch offers cloud-based voice, data and communications solutions for telecommunications operators.“The convergence of cloud and communication networks presents a unique opportunity for Microsoft to serve operators globally via continued investment in Azure, adding additional depth to our hyperscale cloud infrastructure,” Yousef Khalidi, Corporate Vice President at Microsoft said in a blog post. “Metaswitch’s complementary portfolio of ultra-high-performance, cloud-native communications software will expand …read more […]
U.S. Senator Amy Klobuchar on Sunday blasted merger talks between ride-hailing firm Uber Technologies Inc and online food delivery company Grubhub Inc, calling any deal bad for competition and consumers.
U.S. Senator Amy Klobuchar on Sunday blasted merger talks between ride-hailing firm Uber Technologies Inc and online food delivery company Grubhub Inc , calling any deal bad for competition and consumers.
A merger would give Uber Eats’ money-losing food delivery service a leg up on market leader DoorDash at a time when the coronavirus pandemic has upended Uber’s business of shuttling people from place to place. “If Uber takes over Grubhub it isn’t good for competition and it isn’t good for you,” the Democrat from Minnesota tweeted. Klobuchar is a senior member of the Senate’s antitrust committee, which oversees competition enforcement. …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
