A drastic drop in global demand for oil and growing shortage of storage facilities has pushed the price of US to a level not seen since 1999. As on Monday, there was a 19.3 per cent drop in the price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, to touch…
The coronavirus outbreak has caused a plunge in vehicle sales and production, which, according to the estimates by Ford Motor Co, will result in a loss of about $2 billion for the first quarter. This has strained the cash reserves of the company prompting it to raise $8 billion from corporate debt investors to augment…
So far no evidence has been found that can confirm that serological tests can objectively indicate that an individual has acquired immunity from the novel coronavirus or can no longer be at risk of being reinfected with the virus, warned the World Health Organization on Friday. “These antibody tests will be able to measure that…
There has been a surge in the personal wealth of Amazon CEO and entrepreneur, Jeff Bezos, by about $24 billion so far during the coronavirus pandemic which was about a 20 per cent growth in his fortunes over the last four months. His personal wealth is now believed to be about $138 billion. With an…
A 32 per cent drop in first quarter profits was reported by the lender Morgan Stanley amid the coronavirus pandemic months which caused a complete stalling in deal making. The bank also warned of further hit to its operations and consequently profits because of the pandemic in the next few months too. The results of…
British Members of Parliament (MPs) summoned a leading UK-based company to seek answers over security issues surrounding the activities of the company. Concerns in the UK have recently emerged over the renewed efforts by the Chinese owner of Imagination Technologies to transfer ownership of sensitive security software to companies controlled by China. According to the…
Government data published recently showed that the United States giant Apple Inc shipped about 2.5 million iPhones to China in the month of March which was a slight improvement of the sale of the company in its largest market outside of its home market after recording the worst months ever in terms of sale in…
A collapse in the value of its flagship tech investments will cause a huge loss to be posted by SoftBank, the Japanese investment conglomerate warned on Monday. In the fiscal year through March 31, 2020, it expected an operating loss of 1.35 trillion yen ($12.5 billion), the Japanese company said. in the previous year, the…
An executive from the largest retailer of the world – Walmart, has been roped in by the online retailer eBay for its new chief executive role. In a new release, eBay said on Monday that role of the chief executive of the company will now be executed by Jamie Iannone, who currently is in charge…
Its own coronavirus testing lab will be made by the retail giant Amazon in order to effectively monitor the health of its staff, the largest e-commerce company of the world said. More than 50 facilities of Amazon throughout the United States have reported confirmed cases of Covid-19, the disease caused by the novel coronavirus, with…
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