According to a source with direct knowledge of the matter at hand, Taiwan’s Foxconn aims to gradually restart operations at its factories in China and could resume full production within 3 weeks. Foxconn has filed requests to reopen factories with Chinese authorities, said the source while adding that a full resumption is likely towards the…
In a statement, Governor Lael Brainard of the U.S. Federal Reserve stated, the central bank is looking at a broad range of issues surrounding digital currencies and payments, including design, policy and legal considerations around potentially issuing its own digital currency. The development underscores an openness in the possibility of the Federal Reserve issuing its…
The flagship digital industries business of Germany’s Siemens was hit by a downturn in the manufacturing sector while its power unit also suffered losses which brought down the company’s first quarter earnings and profits of the company well below the expectations of the market. There was a huge (30 per cent) dip in the industrial…
Tweets that contain “manipulated media” which aim to mislead people would soon be labeled by the company, Twitter said on Wednesday, and added that is would also initiate measures that will include removing tweets that it deems to contain that that has the potential to endanger public safety or cause voter supression. Twitter also announced…
On Wednesday, Huawei Technologies stated, it aims to hold events around the forthcoming Mobile World Congress despite the coronavirus outbreak. The telecoms industry event draws more than 100,000 visitors to Barcelona. “We are keeping a close eye on matters and having to internally adjust accordingly and responsibly,” said Huawei’s spokesman after South Korea’s LG Electronics…
On Wednesday, Sky News reported, a leading British scientist has made a significant breakthrough in the race for a coronavirus vaccine. As a result the normal development time of “two to three years [has been reduced] to just 14 days”, reported Sky news. According to Robin Shattock, head of mucosal infection and immunity at Imperial…
The U.S. Food and Drug Administration (FDA) has granted emergency use approval to state public health laboratories to start testing for China’s coronavirus using kits developed by the Centers for Disease Control and Prevention (CDC). The approval will help speed up testing for the coronavirus, which has infected 11 people in the country as of…
The U.S. Department of Health and Human Services has partnered with Regeneron Pharmaceuticals Inc to develop a treatment for the coronavirus whose outbreak in China has killed hundreds of people in China alone. The drugmaker collaboration with the U.S. Department of Health and Human Services is the latest to join the race to develop a…
Google owner Alphabet beat analysts’ expectations for profits for the fourth quarter as well as for the entire of 2019 while missing out on estimates of revenue. And despite the company announcing the results after the closure of the markets, its shares were down 4 per cent in after-hours trading. Alphabet reported expansions in revenue…
The spread and impact of the new coronavirus in China threats all of its forecasts and results, warned the Japanese electronics and entertainment company Sony Corp. warned on Tuesday. This warning was issued by the company while the company also reported a decline in its earnings in the company’s fiscal third quarter primarily because of…
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