European plane making giant Airbus reported a 49 per cent drop in operating profit in the first quarter, at 281 million euros ($304.7m), against a revenue drop of 15 per cent, at 10.631 billion euros ($11.56bn). The current situation was the “gravest crisis the aerospace industry has ever known”, said Airbus Chief Executive Guillaume Faury.…
After reporting a massive loss in the first quarter, United States based airplane maker Boeing said that it will cut down on its staff and slash production. The coronavirus pandemic has virtually eliminated demand for air travel across the world and Boeing is yet to get out of the economic impact of the global grounding…
According to analysts, while the novel coronavirus pandemic will impact Microsoft Corp’s businesses such as revenues from advertisements on its LinkedIn social network, and a few other areas, the company is also expected to have offset that drop in business by a growth in its cloud computing services and collaboration tools such as the Teams…
The announced cuts in about 35,000 jobs at HSBC which was announced by the lender in February as a part of massive restructuring program undertaken by it to reduce costs, has been paused for the time being. Making the latest announcement, the bank has said that it does not want the staff to leave right…
On Tuesday, Nokia stated it has won a multi-year contract with Bharti Airtel, India’s third-largest telecom, to provide equipment and services. Nokia’s deal will essentially lay the foundation for providing 5G connectivity in the future for India, will see Nokia install and deploy nearly 300,000 radio network units across 9 circles in India. “This is…
On Monday, Silk EV, a little-known U.S.-based engineering and design firm disclosed it plans on investing $1.41 billion (10 billion yuan) in order to make sports cars with China’s FAW Group under the Hongqi brand, the brand of choice for China’s late revolutionary leader Chairman Mao Zedong. Silk EV has signed a memorandum of understanding…
According to one of the biggest manufacturers of grocery brands of the world, “lasting changes” in shopping behavior will be triggered by the time the novel coronavirus pandemic come to an end. The growth of online food shopping will be accelerated worldwide because of the health crisis, said Unilever’s chief executive, Alan Jope. And the…
Zoom, the video conferencing app that grew exponentially during the novel coronavirus pandemic as people were forced to stay back home and work from home on lockdown orders, is being taken on by the social media giant Facebook which has a long history of incorporating new features on to the platform to mimic what the…
Britain is set to start trials to see whether plasma from coronavirus survivors could help in the recovery of those who have been severely affected with the COVID-19 disease. According to a statement on Saturday from British health department, up to 5,000 severely ill patients with COVID-19 could soon be treated each week with plasma…
In a statement, the Federal Communications Commission (FCC) stated, it is mulling options which include the shutting down the U.S. operations of three state-controlled Chinese telecommunications companies, due to potential national security risks. To this end, the FCC has issued show cause orders to China Unicom Americas, China Telecom Americas, and Pacific Networks Corp along…
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