Tata Motors Ltd said on Friday it would spin off its passenger vehicles arm as a separate unit within the company, at a time when the coronavirus has disrupted auto production.
(Bloomberg) — Wistron Corp., one of Apple’s manufacturing partners, said this week half its capacity could reside outside China within a year. The declaration underscored how the Asian assemblers that keep the world supplied with iPhones and other gadgets are shifting to a higher gear after the coronavirus showed the folly of staking everything on one country.The move in production out of China has been underway since the trade war between Washington and Beijing reached its zenith last year. Now, Covid-19 is expediting that. Decisions by companies like Wistron and other Apple Inc. partners including Hon Hai Precision Industry Co., …read more […]
India’s government had assured e-commerce companies that their operations would not be disrupted amid a nationwide lockdown to fight the coronavirus, but most are facing crippling disruptions after just three days, sources familiar with the matter said on Friday.
Just one of the world’s biggest multi-strategy funds available to retail investors is in the black for the year after coronavirus panic saw markets fall across the board, data from Morningstar showed.
Britain’s Royal Mail on Friday became the latest company to say the coronavirus had delayed plans for a radical turnaround and also canceled its dividend and suspended financial forecasts for the next year.
Oil prices were mixed on Friday as the market weighed the potential benefits of stimulus efforts by policymakers around the world against demand destruction caused by fallout from the rapid spread of the coronavirus.
Volkswagen may have to cut jobs if the coronavirus pandemic is not brought under control as the carmaker is still spending about 2 billion euros ($2.2 billion) a week, Chief Executive Herbert Diess told German TV channel ZDF.
Top news and what to watch in the markets on Friday, March 27, 2020. …read more […]
(Bloomberg) — With so many workers videoconferencing from home — while their children stream videos and play Fortnite — the internet is creaking at the seams, according to Nokia Oyj.The junctions between different internet networks are close to being overwhelmed, the Finnish telecom equipment company said in a weekly report seen by Bloomberg News.“Globally, service providers are starting to see the increased strain and are approaching the capacity on some peering links and edge routers,” Nokia said.But don’t panic yet: Operators can sidestep major jams and outages by rapidly upgrading equipment and adding components at these bottlenecks, according to the …read more […]
Alitalia’s administrator has asked the Italian government to increase the number of employees under temporary lay-off scheme to nearly 7,000, a document showed, to help mitigate the impact the coronavirus outbreak had on the airline and the wider sector.
European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.
China’s auto industry has gone from zero to sixty in its post-pandemic campaign drive, with manufacturers and dealers quick to woo back lockdown-weary consumers through campaigns as unusual as a makeup-promoting personality touting car leasing.
Luxury carmaker Ferrari said on Friday it would extend the shutdown of its two Italian plants and reopen on April 14, provided it had supplies, and update 2020 forecasts in May when it releases its first-quarter earnings.
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