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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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| Daimler AG: Shift to electric cars are inevitable |
4/30/2020 |
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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.
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| GDP shrank 4.8% |
4/30/2020 |
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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.
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| Bangladesh ordered reopen of garment factories |
4/29/2020 |
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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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| Even Airbus has "survival in doubt" |
4/29/2020 |
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Airbus slashed aircraft production and furloughed thousands of workers in response to the pandemic, which ground air travel to a near-standstill. But the letter warned that the company continues “bleeding cash at an unprecedented speed.”
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| Tesla made another advance towards autonomous driving |
4/29/2020 |
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In a note sent to a group of Tesla owners who were picked to test the stop light and sign recognition feature, the company said it can be used with the Traffic Aware Cruise Control or Autosteer systems. The feature will slow the car whenever it detects a traffic light, including those that are green or blinking yellow. It will notify the driver of its intent to slow down and stop.
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| Boeing terminated $4 billion agreement with Embraer |
4/28/2020 |
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Over the past few months, the companies had “productive but ultimately unsuccessful negotiations” about the unsatisfied conditions, which was “deeply disappointing,” Marc Allen, Boeing's president of Embraer partnership and group operations, said in a news release.
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