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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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| Trump orders Chevron to back out of Venezuela oil market |
4/23/2020 |
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The Trump administration on Tuesday ordered Chevron Corp. to “wind down” operations in Venezuela by Dec. 1, barring the California-based oil giant in the meantime from drilling or exporting, as the U.S. increases pressure on President Nicolás Maduro to give up power.
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| As Congress set to pass $483 billion relief biill |
4/23/2020 |
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Most of the funding, $331 billion, would go to boost a small-business payroll loan program that ran out of money last week. There would be $100 billion for health care, with $75 billion to hospitals and $25 billion to boost testing for the virus, a key step in building the confidence required to reopen state economies. There is $60 billion for a small-business loans and grants.
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| Virgin Orbit set to launche satellites from airlines |
4/23/2020 |
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Virgin sees these the ability to launch satellites from the air, via a reusable 747 from Branson’s Virgin Atlantic fleet, as easier, less expensive, and more resilient to weather conditions than ground-based launches.
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| furlough to furlough 17,000 current employees. |
4/22/2020 |
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The furloughs began on Monday and are expected to continue through June 21 of this year. During that time, furloughed employees will not receive salaries, but will continue to receive health care benefits. Coca-Cola Consolidated said the company will pay 100 percent of premiums applicable to impacted employees
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