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| 33 million in the U.S. has sought unemployment help |
5/8/2020 |
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Roughly 33.5 million people have now filed for jobless aid in the seven weeks since the coronavirus began forcing millions of companies to close their doors and slash their workforces. That is the equivalent of one in five Americans who had been employed back in February, when the unemployment rate had reached a 50-year low of just 3.5%.
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| LG chemical leak at India plant killed 11 |
5/8/2020 |
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The synthetic chemical styrene leaked from the LG Polymers plant in a city on India's eastern coast while workers were preparing to restart the facility after a coronavirus lockdown was eased, state official Vinay Chand said. A fire that broke out before the gas leak was extinguished, and police said the gas leak was later halted and the air had cleared.
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| Elon Musk awarded $730 million Tesla stock options |
5/8/2020 |
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The electric car maker ended Wednesday with an average market value of $100.4 billion for the past six months, according to data drawn from FactSet Research. That was the final hurdle that Tesla needed to clear for Musk to receive nearly 1.69 million stock options priced at $350.02. Tesla's stock closed at $782.58 Wednesday, translating into a pre-tax gain of about $730 million.
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| China plans to complete space station by 2022 |
5/7/2020 |
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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.
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| BMW told shareholders to brace for profit loss |
5/7/2020 |
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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.”
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| State of California : Uber and Lyft mis-classified their drivers as independent contractors |
5/7/2020 |
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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.
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| General Motors quarterly profit down 88% |
5/7/2020 |
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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.
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| World wild server shipment to rebounce |
5/6/2020 |
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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.
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| DRAM contract prices rose 18% m-o-m |
5/6/2020 |
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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.
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| World leaders pledged $8 billion for vaccine research |
5/6/2020 |
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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.
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| Intel offers $1 billion for Israeli public transit app developer Moovit |
5/5/2020 |
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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.
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| SpaceX urged launch spectators to stay home |
5/5/2020 |
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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.
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| PMI sinks to 41.5 - the worst ever recorded |
5/5/2020 |
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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.
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| April unemployment could hit 20% |
5/4/2020 |
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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.
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| Due to Covid-19, old Clunker automobiles may soon flood the market |
5/4/2020 |
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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.
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| SpaceX received contract to develope Lunar Lander |
5/4/2020 |
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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.
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| Intel see increased demand on laptop chips |
5/1/2020 |
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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.
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| Experimental drug has proven effective against coronavirus in a major study |
5/1/2020 |
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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.
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