Business & Finance News
Security experts at Alphabet Inc’s Google have identified more than a dozen government-backed hacking groups using the COVID-19 pandemic as cover for phishing and malware attempts.
Facebook is set to spend $5.7 billion to buy a 9.99% stake in Reliance Industries’ digital arm, as it looks to roll out services for India’s grocers and small businesses by capitalizing on WhatsApp’s extensive reach in the country.
Fox Corp Chairman Rupert Murdoch and Chief Executive Officer Lachlan Murdoch will forgo their salaries in response to the coronavirus crisis, according to an internal memo sent to employees on Wednesday.
Facebook will spend $5.7 billion to take just under 10% of Reliance Industries’ digital unit, seeking to roll out services for India’s grocers and other small businesses by capitalising upon WhatsApp’s extensive reach within the country.
Wall Street’s main indexes surged on Wednesday as oil prices recovered some ground and Congress looked on course to seal nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.
Some blood tests being marketed to tell people if they have had the new coronavirus are a “disaster”, Roche Chief Executive Severin Schwan said on Wednesday as he prepares to launch the drugmaker’s own antibody test next month.
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative discussions of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some anticipated.
Oklahoma’s energy regulator on Wednesday ruled in favor of an oil company’s emergency application to classify unprofitable production as economic waste, enabling producers to maintain leases when output is halted due to low prices.
Shares of Expedia Group Inc rose 9% on Wednesday after a report that the online travel services company was in advanced talks to sell a stake to private-equity firms Silver Lake Partners and Apollo Global Management Inc for about $1 billion.
Chevron’s assets in Venezuela have been mothballed and the company is not allowed to drill, transport or barter oil there as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said.
Apple Inc is planning to fix a flaw that a security firm said may have left more than half a billion iPhones vulnerable to hackers.
Investment firm Sycamore Partners is seeking to end its deal to buy a stake in L Brands Inc’s lingerie brand Victoria’s Secret, citing business decisions the retailer took during the coronavirus pandemic, a court filing on Wednesday showed, sending the company’s shares down over 20%.
Shares of American Eagle Outfitters Inc dropped 14% on Wednesday after the apparel retailer withdrew its full-year forecast and said current-quarter results would be significantly hit by coronavirus-related store closures.
Delta Air Lines Inc has taken steps to halve its cash burn to $50 million per day through June after posting its first quarterly loss in eight years, and is bracing for a two to three year recovery from the coronavirus pandemic.”We should be prepared for a choppy, sluggish recovery even after the virus is contained,” Chief Executive Ed Bastian said in an employee memo on Wednesday.
IKEA, the world’s biggest furniture brand, opened three of its six stores in Israel on Wednesday after the government started to gradually ease its coronavirus lockdown.
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