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| Rolls-Royce cut jet engine related jobs |
5/21/2020 |
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Most of the cuts will take place in the civil aerospace business, where two-thirds of U.K. employees work. Negotiations are set to begin with unions.
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| China's Big Fund puts bet on its home grown SMIC |
5/20/2020 |
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has secured an investment worth $2.2 billion dollars from Chinese state investors, the company announced on Friday. The funding was revealed on the same day that the United States announced new restrictions on Chinese tech company Huawei Technologies that would further impact its ability to source chips made with American technology.
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| Walmart online sales ups 74% thanks to pandamic |
5/20/2020 |
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Online sales in the U.S. jumped 74%, fueled by a rush on canned foods, paper towels and other crucial supplies needed as people sheltered in place. Same-store sales rose 10% at U.S. Walmart stores on strong sales of food, health and wellness goods.
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| Jack Ma steps down from SoftBank's board |
5/19/2020 |
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Tokyo-based SoftBank announced Ma's resignation Monday, ahead of releasing financial results. It did not say why he was leaving. Ma, co-founder of Chinese e-commerce giant Alibaba, has been focusing on philanthropy lately, such as donating masks and test kits to help in the efforts against the new coronavirus pandemic.
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| European countries plan to reopen borders widely |
5/19/2020 |
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New infections and deaths have slowed considerably in Europe, where some countries started easing lockdowns a month ago. Many nations are preparing to open their borders next month, trying to sketch out the rules for a highly unusual summer tourist season.
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| Latest sanctions on Huawei include cut off from TSMC |
5/19/2020 |
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Huawei has few alternatives if Washington refuses to allow its suppliers to use U.S. technology. The company has developed some of its own chips but even the biggest non-U.S. manufacturers such as Taiwanese giant TSMC need American components or production equipment.
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| There will be a lot of virus vaccine tested this Summer |
5/18/2020 |
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At least four or five possible vaccines “look pretty promising” and one or two will be ready to begin large-scale testing by July with others to follow soon, NIH Director Francis Collins told The Associated Press.
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| Trump promotes : "Supply Chains out of China" |
5/18/2020 |
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President Donald Trump says the coronavirus pandemic highlights the importance of U.S. manufacturing and moving supply chains out of China, a rival he blames for not doing enough to slow the spread.
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| U.S. industrial production shrinked by 11.2% |
5/18/2020 |
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Industry was running at 64.9% of capacity last month, shattering the previous record low set in the Great Recession year 2009. Factory capacity utilization also hit a record low 61.1%.
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| India PC shipment declined by 17% |
5/15/2020 |
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This decline was registered across all product categories and can be attributed largely to the supply issues faced by the vendors due to COVID-19, which impacted the manufacturing and logistics arms of vendors in China.
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| Huawei/ZTE ban extended for a year |
5/15/2020 |
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The order invoked the International Emergency Economic Powers Act, which gives the president the authority to regulate commerce in response to a national emergency that threatens the United States. U.S. lawmakers said Trump’s 2019 order was aimed squarely at Chinese companies like Huawei Technologies Co and ZTE Corp.
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| Mexico to reopen essential industries |
5/14/2020 |
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Mexico’s top advisory body on the coronavirus pandemic said Tuesday it has issued guidelines that would allow for the re-opening of construction, mining, and car and truck manufacturing.
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| Month-to-month consumer price index fell |
5/13/2020 |
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The widespread business shutdowns, reduced travel and shrunken consumer spending that the virus has caused have likely sent the U.S. economy into a severe recession. The resulting drop in economic activity is exerting a powerful downward force on prices throughout the economy.
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