Volkswagen AG and Toyota Motor Corp said on Wednesday they will delay restarting U.S. production amid the coronavirus pandemic and concerns about the automotive supply network.
The coronavirus continues to exact a terrible toll on human lives around the world.
It has caused a lot of problems. And global supply chains have come to a grinding halt.
Unfortunately, we are still in the clutches of the virus here in the U.S.
But that’s no longer the case in China. Life is returning to “business as usual.”
In order to jump-start its supply chains, China is focused on 25 “super projects.”
And those projects are in none other than the renewable energy sector.
Harvesting the Wind
The first two super projects were recently announced by China’s state-owned energy giant, China Three Gorges. These will …read more […]
Qualcomm Inc on Wednesday forecast current-quarter revenue largely in line with expectations as it signed more contracts for 5G phones, which use higher-priced chips, at a time when the COVID-19 pandemic has disrupted production channels and led to a fall in demand for smartphones.
The head of the Federal Reserve on Wednesday dashed lingering hopes for a fast rebound from the coronavirus pandemic, saying the U.S. economy could feel the weight of consumer fear and social distancing for a year or more in a prolonged climb from a deepening hole.
(Bloomberg) — Facebook Inc. reported an 18% increase in first-quarter revenue, showing advertising demand was strong before the Covid-19 pandemic hit marketing budgets. The company also said business was steady in the first few weeks of April, sparking a surge in its shares.The social-networking company said sales came in at $17.7 billion in the first quarter, ahead of Wall Street estimates of $17.3 billion, according to data compiled by Bloomberg. The results include just a few weeks in March when coronavirus lockdowns began to hammer the economy.On March 24, Facebook warned that its advertising business was “weakening.” The company does …read more […]
Federal Reserve Chairman Jerome Powell called on Congress to provide further support to households and businesses as the COVID-19 shutdown continues to grip the U.S. economy. …read more […]
Austria might demand a stake in Lufthansa in exchange for granting emergency aid to the German flag carrier’s unit Austrian Airlines, the country’s conservative chancellor, Sebastian Kurz, said on Wednesday.
Microsoft Corp reported quarterly revenue above Wall Street estimates on Wednesday, boosted by higher demand for its cloud platform Azure and collaboration app Teams, and as people locked in their homes due to the pandemic played more games on Xbox consoles.
Facebook Inc beat analysts’ estimates for quarterly revenue on Wednesday and said it has seen “signs of stability” for sales in April after a plunge in March, in yet another indication that tech giants may weather the coronavirus-induced economic collapse better than other sectors.
Tesla Inc on Wednesday posted its third quarterly profit in a row, but said the novel coronavirus was hurting deliveries and lockdown restrictions made it impossible for the electric carmaker to provide guidance for the full year.
(Bloomberg) — Qualcomm Inc. gave a solid sales forecast for the current quarter and said demand is close to returning to normal levels in the biggest market for smartphones — China.Revenue will be $4.4 billion to $5.2 billion in the period ending in June, the San Diego-based company said Wednesday in a statement. Analysts, on average, estimated $4.77 billion, according to data compiled by Bloomberg. Profit, excluding some items, will be 60 cents to 80 cents a share, the company said.“You’re going to see improvements coming out of June, if China is any model,” Chief Executive Officer Steve Mollenkopf said …read more […]
Tesla surprised the Street in its first quarter earnings report, beating on both top and bottom lines, as well as posting its third straight quarterly profit. The electric carmaker was expected to report a loss of 36 cents per share, but it posted a profit of $1.24 per share (excluding items). The company did report negative free cash flow and that it will revisit new guidance for the second quarter. Yahoo Finance’s Myles Udland breaks down the car manufacturer’s earnings report. …read more […]
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