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Wednesday, August 12, 2020

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China plans to complete space station by 2022 5/7/2020
China earlier launched an experimental space station that later crashed back through the atmosphere, and plans to build a larger facility with multiple modules to rival the scale of the International Space Station.
BMW told shareholders to brace for profit loss 5/7/2020
The company said it expected earnings to deteriorate during the first half of this year due to the coronavirus lockdowns and predicted the entire auto industry would be held back by the outbreak “for quite some time to come.”
State of California : Uber and Lyft mis-classified their drivers as independent contractors 5/7/2020
Attorney General Xavier Becerra and the city attorneys of Los Angeles, San Diego and San Francisco announced the lawsuit Tuesday. The labor law, known as AB5 and considered the nation's strictest test, took effect Jan. 1 and makes it harder for companies to classify workers as independent contractors instead of employees who are entitled to minimum wage and benefits such as workers compensation.
General Motors quarterly profit down 88% 5/7/2020
U.S. automakers suspended production in much of the world in late March. For GM, that clipped revenue for the quarter by 6%, to $32.7 billion, but that's not as bad as industry analysts had been expecting. Shares jumped 6.3% Wednesday.
INdia's software growth to drop 4.5% due to Covid-19 pandemic 5/6/2020
(IDC) forecasts that India domestic IT spending (Hardware, Software, and Services) is expected to drop to -4.5% in 2020 as compared to 2019 growth rate of +9.1%, as per IDC ’s Worldwide Black Book Live Edition, March 2020.
World wild server shipment to rebounce 5/6/2020
Server shipments are expected to see a 15.8% rebound in the second quarter as orders for servers continue picking up thanks to deferred orders from the first quarter and rising demand for cloud computing services partly driven by remote work and learning needs, Digitimes Research's figures show.
DRAM contract prices rose 18% m-o-m 5/6/2020
PC demand was solid on higher demand for telecommuting and online education services. Digitimes is estimating that 2Q20 global notebook PC demand will climb 40% q-o-q.
World leaders pledged $8 billion for vaccine research 5/6/2020
The funds, pledged at a video-conference summit hosted by the European Union, fell marginally short of the 7.5 billion euros being sought, but more money could arrive in coming days. Notably absent from the event was the United States, where more than 67,000 people have died, and Russia.
Omdia to slash its market forecast despite soaring demand for chips from the medical sector 5/5/2020
The worldwide semiconductor market now is expected to decline by 5% in 2020, excluding memory ICs, according to Omdia. With memory included, global revenue for the overall market will total US$439.3 billion in 2020, up 2.5% from US$428.5 billion in 2019. This is a significant reduction from the previous Omdia forecast of 5.5% growth for this year.
Intel offers $1 billion for Israeli public transit app developer Moovit 5/5/2020
Moovit’s free mobile navigation app provides transit information to more than 750 million users in 100 countries. The technology transforms vehicle fleets into an on-demand service to get essential employees safely to work and has been implemented in a number of cities by large corporations.
SpaceX urged launch spectators to stay home 5/5/2020
It will be the first launch of astronauts from NASA’s Kennedy Space Center in nine years — ever since the last space shuttle flight in 2011. It also will be the first attempt by a private company to fly astronauts to orbit.
PMI sinks to 41.5 - the worst ever recorded 5/5/2020
The Institute for Supply Management, an association of purchasing managers, reported Friday that its manufacturing index dropped to 41.5 last month from 49.1 in March. Anything below 50 signals contraction.

The news was bad across the board: Production, new orders, hiring and export orders all fell faster in April than they did in March.

April unemployment could hit 20% 5/4/2020
More than 3.8 million laid-off workers applied for unemployment benefits last week as the U.S. economy slid further into a crisis that is becoming the most devastating since the 1930s.
Korean SK Innovation to build second battery plant in the U.S. 5/4/2020
According to Reuters, the South Korean company will spend $727 million to build the plant in Georgia. Construction will begin in July; production could start in 2023.
Due to Covid-19, old Clunker automobiles may soon flood the market 5/4/2020
In 2009, that action was “Cash for Clunkers,” a program that allowed consumers to trade in, basically, any old piece of junk vehicle for a maximum $4,500 credit towards the purchase of a new vehicle. According to Motor Trend, we could see a similar policy enacted again soon and it could be even bigger than the first ‘Clunkers’ effort, which stimulated about $14 billion in auto purchases.
SpaceX received contract to develope Lunar Lander 5/4/2020
The companies are SpaceX in Hawthorne, California, led by Elon Musk; Blue Origin in Kent, Washington, founded by Amazon’s Jeff Bezos; and Dynetics, a Huntsville, Alabama, subsidiary of Leidos. Altogether, the contracts for the initial 10-month period total $967 million.
China's ChangXin Memory Technologies (CXMT) signed patent license agreement with Rambus 5/1/2020
"In order to achieve sustainable growth and gain competitiveness in the market, we are committed to continuously building upon our technology and IP assets through independent R&D efforts combined with global cooperation."
Intel see increased demand on laptop chips 5/1/2020
Intel saw a major spurt in demand for laptop processors unlike anything the chipmaker had seen in the previous 12 months thanks in large part to the abrupt shift of people working from home prompted by the coronavirus pandemic.
Experimental drug has proven effective against coronavirus in a major study 5/1/2020
The study, run by the National Institutes of Health, tested remdesivir versus usual care in 1,063 hospitalized coronavirus patients around the world. At the White House, NIH's Dr. Anthony Fauci said the drug reduced the time it takes patients to recover by 31% — 11 days on average versus 15 days for those just given usual care.
Five of Amazon’s overseas operations listed of “notorious markets’’ 5/1/2020
USTR cited complaints from U.S. businesses that consumers can’t easily tell who is selling items on the Amazon platforms and that the e-commerce company’s procedures for removing counterfeit goods “can be lengthy and burdensome.’’
Memory sales surprisingly strong during virus pandamic 4/30/2020
DRAM and NAND flash prices have been rising despite the virus hitting hard demand for smartphones and other consumer electronics devices.
Daimler AG: Shift to electric cars are inevitable 4/30/2020
The company's CEO said Wednesday the Stuttgart-based automaker was now engaging in a gradual re-start of production — and would continue its investment in electric cars and digitalization. He called the shift to new technologies “non-negotiable” despite the severe disruption from the virus outbreak.
GDP shrank 4.8% 4/30/2020
Drop in the January-March quarter will be only a precursor of a far grimmer report to come on the current April-June period, with business shutdowns and layoffs striking with devastating force. With much of the economy paralyzed, the Congressional Budget Office has estimated that economic activity will plunge this quarter at a 40% annual rate.
Ford Motor Co. posted a $2 billion first-quarter net loss 4/30/2020
The automaker said Tuesday that its revenue from January through March fell nearly 15% to $34.3 billion as most of its factories were shut down for the final week of the quarter.
Bangladesh ordered reopen of garment factories 4/29/2020
Rubana Huq, president of the Bangladesh Garment Manufacturers and Exporters Association, or BGMEA, said she was under pressure to reopen factories after the pandemic cost the industry more than $3 billion in orders that were cancelled or suspended.
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