(Reuters) – As China reopens its economy after months of lockdown, Apple Inc’s (AAPL.O) iPhone factories are largely up and running. But with the coronavirus pandemic spreading across the world, the urgent question for the company is how many buyers there will be both for current models and the new slate of…
Category: News
All kinds of news.
Condom shortage looms after coronavirus lockdown shuts world’s top producer
KUALA LUMPUR (Reuters) – A global shortage of condoms is looming, the world’s biggest producer said, after a coronavirus lockdown forced it to shut down production. Malaysia’s Karex Bhd (KARE.KL) makes one in every five condoms globally. It has not produced a single condom from its three Malaysian factories for more than…
Treasury: U.S. will be ‘compensated’ for assistance to airlines
WASHINGTON (Reuters) – U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will “compensated” for providing up to $25 billion in direct grants to the airline industry. FILE PHOTO: Treasury Secretary Steve Mnuchin takes a phone call in the hall outside a meeting to wrap up work on coronavirus economic aid…
Factbox: Carmakers churn out machines, masks to help fight coronavirus
(Reuters) – Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines – everything from cloth face masks to sophisticated ventilator systems – to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia. Here is a…
GM reaches settlement over lost vehicle value from defective ignition switches
File Photo: The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio NEW YORK (Reuters) – General Motors Co has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have…
As virus threatens, U.S. embraces big government, for now
WASHINGTON, March 28 (Reuters) – It may, as House Majority Leader and Maryland Democrat Steny Hoyer said on Friday, be out of love that the United States agreed to shut down much of its economy to stop a viral epidemic and save lives. FILE PHOTO: U.S. Secretary of the Treasury Steven Mnuchin…
As Virus Spreads, China and Russia See Openings for Disinformation
WASHINGTON — China and Russia have both seized on the novel coronavirus to wage disinformation campaigns that seek to sow doubts about the United States’ handling of the crisis and deflect attention from their own struggles with the pandemic, according to American intelligence officials and diplomats. Kremlin-aligned websites aimed at Western audiences…
U.S. Cuts Health Care Aid to Yemen Despite Worries About Coronavirus
The Trump administration on Friday cut off tens of millions of dollars for health care programs and other aid in Yemen, rejecting pleas by humanitarian groups and some members of Congress to delay the decision as the coronavirus spreads across the Middle East. American officials said the move was a necessary response…
One Continent, Two Very Different Political Responses to the Pandemic
Shortly after I finished my previous Canada Letter, the country’s coronavirus count topped a symbolic 1,000 cases and 12 people had died. A week later and Ontario alone is now nearing the 1,000-case mark, while nationally confirmed cases have topped 4,000, with 39 deaths. Image A hockey rink in Ottawa that is…
Amazon, Flipkart operations in India disrupted by lockdown: sources
NEW DELHI (Reuters) – E-commerce companies including Amazon and Flipkart are facing disruption in India just three days into a lockdown to fight the coronavirus pandemic, despite government assurances they would not, sources familiar with the matter said on Friday. FILE PHOTO: The logo of Amazon is seen at the company logistics…
Singapore Airlines latest to get massive rescue amid coronavirus crisis
SINGAPORE/SYDNEY (Reuters) – Singapore Airlines Ltd (SIAL.SI) said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return. FILE PHOTO: A Singapore Airlines plane sits on the tarmac at Singapore’s…
Alitalia seeks to place 2,900 more staff in layoff scheme: document
FILE PHOTO: Alitalia plane is seen on the tarmac after landing at Ben Gurion International airport in Lod, near Tel Aviv, Israel February 27, 2020. REUTERS/Amir Cohen/File Photo MILAN (Reuters) – Alitalia’s administrator has asked Italy’s government to raise to nearly 7,000 the number of its employees under a temporary lay-off scheme,…
European stocks sink as investors take stock of spreading virus
LONDON (Reuters) – European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact. The pan-European STOXX 600 index was down almost 3.6% by midday in…
U.S. not bailing out airlines, Boeing not using federal money: Treasury Secretary
FILE PHOTO: Treasury Secretary Steve Mnuchin takes a phone call in the hall outside a meeting to wrap up work on coronavirus economic aid legislation to prevent the spread of coronavirus disease (COVID-19) in Washington, U.S., March 21, 2020. REUTERS/Mary F. Calvert/File Photo WASHINGTON (Reuters) – U.S. Treasury Secretary Steve Mnuchin said…
Britain’s Next shuts online operation to protect workers
(Reuters) – Leading British fashion chain Next (NXT.L) has bowed to pressure from workers worried about their health and shut its online business, cutting off its remaining source of revenue during the coronavirus outbreak. FILE PHOTO: Shoppers walk past a Next store on Oxford Street in London, Britain December 17, 2018. REUTERS/Simon…
Oil falls as demands fears outweigh stimulus efforts
LONDON (Reuters) – Oil prices fell on Friday as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world and the United States faced the prospect of becoming the next global epicenter of the pandemic. FILE PHOTO: A pump jack operates in front of a drilling rig at…
U.S. consumer spending rises moderately in February
FILE PHOTO: Shoppers carry bags of purchased merchandise at the King of Prussia Mall, United States’ largest retail shopping space, in King of Prussia, Pennsylvania, U.S., December 8, 2018. REUTERS/Mark Makela WASHINGTON (Reuters) – U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months,…