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…
Shares of Gilead Sciences Inc’s shares jumped by 16% following news reports that its experimental drug remdesivir is proving to be effective in U.S. trials of patients who have been severely afflicted by the COVID-19 disease caused by the coronavirus. According to a report from medical news website STAT, a University of Chicago hospital participating…
Following California’s Public Utilities Commission (CPUC) vote on Thursday, the $23 billion merger of U.S. wireless carriers T-Mobile US Inc with that of Sprint Corp saw the final approval of the deal which closed on April 1. The deal had closed without a final decision from the CPUC, which came through with an unanimous vote.…
Federal Communications Commission Chairman Ajit Pai has circulated a draft order asking the five-member panel to approve Ligado Networks’ request to deploy a low-power nationwide network to support next generation 5G wireless. Ligado Networks’ request has drawn fire from some U.S. government agencies as well as by some powerful lawmakers. Earlier this week, the chairman…
According to a senior cybersecurity official with the Federal Bureau of Investigation, foreign government hackers have managed to break into companies which are conducting research into treatments for COVID-19 – the respiratory illness caused by the coronavirus. During an online panel discussion hosted by the Aspen Institute, FBI Deputy Assistant Director Tonya Ugoretz disclosed to…
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…
In a statement, Xilinx Inc, an American semiconductor firm stated, it had won a deal to supply chips to Samsung Electronics Co Ltd for 5G networking equipment. It did not disclose the financial terms of the deal. Xilinx makes programmable chips used in telecommunications equipment including those used in base stations made by Ericsson, Nokia…
According to data from auto consultancy firm LMC Automotive, Tesla Inc’s China car registrations have shot up by 450% in March to touch 12,709 units in March, up from 2,314 in February. This is in contrast to the overall auto sales in China which has plunged by 43.4% in March, with the coronavirus pandemic continuing…
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