New coronavirus cases in Italy fall to 25-day low, deaths rise by 604
Deaths from the COVID-19 epidemic in Italy rose by 604 on Tuesday, a lower daily tally than the 636 seen the day before, while the number of new cases posted the smallest increase since March 13.
Exxon’s $10 Billion Spending Cut Won’t Stop Shale Oil’s Growth
Exxon Mobil Corp. is slashing $10 billion in spending — more than any other supermajor oil explorer has cut to weather an unprecedented market collapse — and yet its production in North America’s biggest shale region is still forecast to rise.
Coronavirus spread may be leveling off in New York, New Jersey; vigilance urged
The governors of New York and New Jersey pointed to tentative signs on Monday that the coronavirus outbreak was starting to plateau but warned against complacency as the nationwide death toll topped 10,000 and the number of known U.S. infections surpassed 350,000.
The social distancing of America
Large sections of public life came to a standstill over the month of March as the novel coronavirus – which causes the potentially lethal respiratory illness COVID-19 – spread across the United States. State and local governments shut down schools, ordered restaurants and other businesses to close and issued stay-at-home orders for millions. But the […]
Foxconn Assures Investors 5G iPhone Can Still Launch This Fall
Apple Inc.’s most important manufacturing partner has reassured investors it can still get the latest 5G-enabled iPhones ready for an autumn launch despite global Covid-19 upheaval.
Amazon and Microsoft actually ended the first quarter higher as most of the market tanked
Shares of Microsoft and Amazon closed the year’s first quarter in the black, while its tech peers followed the broader market sell-off due to impacts from COVID-19.
Coronavirus Is Expediting iPhone Makers’ Plans to Move Beyond China
Wistron Corp., one of Apple’s manufacturing partners, said this week half its capacity could reside outside China within a year. The declaration underscored how the Asian assemblers that keep the world supplied with iPhones and other gadgets are shifting to a higher gear after the coronavirus showed the folly of staking everything on one country.
Goldman sees 15% jobless rate and 34% GDP decline, followed by the fastest recovery in history
Goldman Sachs has revised its view on how the coronavirus will impact the U.S. economy, seeing a sharper downturn than originally thought followed by an even bigger upturn. Among its expectations are that the unemployment rate will peak at around 15% later this year, well above original expectations for 9%. Gross domestic product is forecast […]
Bend it like the Bay Area: Doctors see flatter curve after 2 weeks of social isolation
State leaders and doctors are cautiously optimistic that the Bay Area’s early moves to lock down residents two weeks ago have prevented surges of coronavirus patients from overwhelming the region’s health care capacity thus far.
Larry Fink says economy will recover from coronavirus, ‘tremendous opportunities’ in markets
Larry Fink, CEO of the world’s biggest asset manager BlackRock, told shareholders that the economy will recover from the coronavirus pandemic, and when it does, there will be “tremendous opportunities” to be had. “In my 44 years in finance, I have never experienced anything like this,” Fink said in an annual letter to shareholders, citing […]