Business & Finance News
German industrial company Siemens is accelerating its cost-savings programme to deal with the impact of the coronavirus pandemic, Deputy Chief Executive Roland Busch said on Friday.
News Corp Executive Chairman Rupert Murdoch is forgoing his cash bonus for the year after the media company posted a $1 billion quarterly loss due to a write-down in the value of its Australian pay TV unit and the impact of the COVID-19 pandemic on its businesses.
Siemens on Friday said it expected “even stronger impacts” from the coronavirus pandemic in the weeks ahead as it ditched its 2020 guidance and posted an 18% drop in industrial profit during its second quarter.
The U.S. economy is expected to have shed 22 million jobs in April, tripling the nationwide unemployment rate to 16%, when new government data is published Friday morning.
The U.S. economy likely lost a staggering 22 million jobs in April, in what would be the steepest plunge in payrolls since the Great Depression and the starkest sign yet of how the novel coronavirus pandemic is battering the world’s biggest economy.
Asian shares rose on Friday as investors focused on talks between U.S. and Chinese trade officials and solid corporate earnings rather than the looming release of data expected to show the worst U.S. unemployment rate in more than 70 years.
ANA Holdings Inc , the operator of Japan’s top airline, said on Friday it would suspend its recruitment process at its 37 group companies due to an uncertain business climate caused by the coronavirus pandemic.
Samsung Group heir Jay Y. Lee’s vow to end dynastic succession at South Korea’s biggest conglomerate following three generations of family control sparked skepticism in some quarters and worry in others for the future of the country’s corporate champions.
Top U.S. and Chinese trade representatives discussed their Phase 1 trade deal on Friday with China saying they agreed to improve the atmosphere for its implementation and the United States saying both sides expected obligations to be met.
Chinese Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and United States Trade Representative Robert Lighthizer held a phone call late on Thursday in which they spoke about U.S.-China trade, the U.S. government said in a statement.
News Corp Executive Chairman Rupert Murdoch will forgo his cash bonus for the current fiscal year due to the impact of COVID-19 pandemic on business, the company said on Thursday.
Payments giant Fiserv Inc said Thursday that Frank Bisignano would become the company’s chief executive on July 1, with long-time head Jeffery Yabuki remaining on as executive chairman until the end of the year.
Lyft will require both passengers and drivers to wear masks and complete a health certification program, including confirming before each ride that they are not displaying symptoms associated with the novel coronavirus, the company said on Thursday.
Japan’s Nintendo Co Ltd said on Thursday its fourth-quarter profit soared 200% due to surging demand for its Switch games console, and that title Animal Crossing: New Horizons shifted a record 13.4 million units in its first six weeks.
The runaway success of Nintendo Co Ltd’s island life simulator Animal Crossing: New Horizons has overshadowed an uncomfortable fact for fans of the Switch console – it lacks upcoming titles.
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