COVID-19 patients respond positively to Gilead Sciences experimental drug

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…

Large U.S. airlines revise 2020 forecasts, slash costs and flights

On Tuesday, leading U.S. airlines including Delta and American announced the suspension of their 2020 financial forecasts and took strong measures to further boost their capabilities to fight the economic impact of China’s coronavirus United announced a capital raising event and reported a first-quarter loss. The coronavirus pandemic has deeply impacted the tourism sector and…

Samsung Display working to exempt engineers from Vietnam’s 14-day quarantine program

South Korea’s Samsung Display, a supplier for Samsung Electronics and Apple Inc, has requested Vietnam to exempt 700 South Korean engineers from its mandatory quarantine requirement saying they are needed to prepare for the production of screens for new smartphones. South Korea is Vietnam’s biggest foreign investor. In an effort to contain the outbreak of…

China’s coronavirus outbreak threat to global antibiotics supply: EU Chamber of Commerce

On Tuesday, the head of a European business group in China warned that the world could face a shortage of antibiotics if the pharmaceutical industry’s supply problems posed by the outbreak of China’s coronavirus cannot soon be resolved. Joerg Wuttke, President of the EU Chamber of Commerce told a roundtable in Beijing that the synchronization…

Lessor BBAM adds 3 Boeing 737-800 freighters to service air cargo market

On Tuesday, Boeing Co stated, BBAM, a lessor, had ordered three 737-800 converted freighters to service the growing e-commerce market and the express sectors of the air cargo market. The planes, which will be converted, will come from BBAM’s existing fleet. “This agreement shows how we can serve our customers by delivering efficient and reliable…

Amazon’s in-house delivery on track to deliver 3.5 packages in 2019

In a development that marks Amazon’s growing in-house delivery business, the world’s largest online retailer stated, it was on track to deliver 3.5 billion customer packages globally this year. Amazon’s growing network of delivery trucks, planes, and vans, is considered as potentially a long-term threat to United Parcel Service Inc and FedEx Corp. FedEx has…