SAN FRANCISCO (Reuters) – With Facebook’s adoption of permanent remote work on Thursday, Chief Executive Mark Zuckerberg has untethered one of Silicon Valley’s biggest companies from the place that incubated it. But he also dashed a Silicon Valley dream: that tech workers would be able to take their generous salaries with them…
Oil drops 3% on China-U.S. tensions, energy demand doubts
NEW YORK (Reuters) – Oil prices tumbled about 3% on Friday on rising U.S.-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis. FILE PHOTO: A TORC Oil & Gas pump jack is seen near Granum, Alberta, Canada May 6, 2020. REUTERS/Todd Korol/File Photo Fuel demand plummeted…
Malaria Drug Taken by Trump Is Tied to Increased Risk of Heart Problems and Death in New Study
The malaria drugs hydroxychloroquine and chloroquine did not help coronavirus patients and may have done harm, according to a new study based on the records of nearly 15,000 patients who received the drugs and 81,000 who did not. Some were also given the antibiotic azithromycin, or a related medicine. Hydroxychloroquine is the…
Pompeo and Hassett Condemn China Over Hong Kong Security Law
He was the most senior Trump administration official to offer a substantial reaction to China’s drastic proposal, which brought a new focus to continuing tensions between the United States and China, whose relationship is already at its worst point in decades. Speaking on CNN Friday morning, the White House economic adviser, Kevin…
Hungary Moves to Close Border Camps After E.U. Court Ruling
BUDAPEST — The government of Hungary has moved nearly 300 asylum seekers and begun closing detention sites along its southern border after the European Union’s highest court ruled that it was holding migrants unlawfully. The migrants were shifted late Wednesday night and early Thursday morning from containers at the fenced and guarded…
Michigan Governor Whitmer further opens state economy ahead of Trump visit
DETROIT (Reuters) – Michigan’s governor announced more steps to re-open the state’s economy on Thursday, offering timelines for the resumption of some businesses and allowing some social gatherings as long as guidelines to curb the spread of the coronavirus are observed. Governor Gretchen Whitmer made the announcement ahead of a trip by…
Oil at highest since March on lower U.S. inventories, recovering demand
NEW YORK (Reuters) – Global benchmark Brent rose on Thursday to its highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions imposed on people’s movements due to the coronavirus crisis. FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February…
Trump to visit Ford plant in Michigan as political tensions flare
WASHINGTON (Reuters) – President Donald Trump travels on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid hostility with its Democratic governor over how quickly to reopen its economy during the coronavirus pandemic. FILE PHOTO: U.S. President Donald Trump holds a meeting on…
How big unions smooth the way for Amazon worker protests
WASHINGTON (Reuters) – Warehouse employees last month staged a walkout in Michigan to demand safer working conditions at their facility. So did workers in New York, Illinois and Minnesota. Former Amazon employee, Christian Smalls, stands with fellow demonstrators during a protest outside of an Amazon warehouse as the outbreak of the coronavirus…
Facebook’s Zuckerberg embraces more permanent remote work
FILE PHOTO: Facebook’s campus is seen on the edge of the San Francisco Bay in Menlo Park, California in this aerial photo taken January 13, 2017. REUTERS/Noah Berger SAN FRANCISCO (Reuters) – Facebook Inc (FB.O) will shift toward more permanently embracing remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg…
Exclusive: Baidu considers leaving the Nasdaq to boost its valuation – sources
HONG KONG/BEIJING (Reuters) – Chinese search engine giant Baidu Inc (BIDU.O) is considering delisting from the U.S. Nasdaq and moving to an exchange closer to home to boost its valuation amid rising tension between the United States and China over investments, three sources said. Baidu, one of China’s earliest U.S. listings, is…
Americans splurge at Walmart, Target as stimulus checks kick in
FILE PHOTO: Walmart shopping carts are seen on the parking lot ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski (Reuters) – The Trump Administration’s coronavirus relief payment provided a fillip to sales of major retailers in April as millions of Americans used the money to buy…
U.S. labor market struggles as layoffs spread despite businesses reopening
WASHINGTON (Reuters) – Millions more Americans filed for unemployment benefits last week, more than two months after a shutdown of the country to deal with the coronavirus crisis, pointing to a second wave of layoffs in industries not initially impacted by closures caused by the pandemic. The Labor Department’s weekly jobless claims…
Southwest to limit seats sold on each flight through July -CEO
FILE PHOTO: A Southwest Airlines Boeing 737 MAX 8 aircraft is pictured in front of United Airlines planes, including Boeing 737 MAX 9 models, at William P. Hobby Airport in Houston, Texas, U.S., March 18, 2019. REUTERS/Loren Elliott (Reuters) – Southwest Airlines Co (LUV.N) will continue to limit bookings on its flights…
U.S.-China tensions pull Wall Street lower
(Reuters) – Wall Street’s main indexes eased on Thursday from more than two-month highs hit in the previous session, as growing Sino-U.S. tensions and concerns about a rebound from a coronavirus-led economic slump hit sentiment. The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the…
Inaction That Cost Lives
Want to get The Morning by email? Here’s the sign-up. Good morning. Vaccine research is making progress. Chinese leaders have regained their swagger. And a new study shows the severe costs of delayed U.S. action on the virus. By the final days of February, many public health experts were sounding the alarm…
Fed Officials Say More Economic Aid May be Needed: Live Updates
Here’s what you need to know: Facebook is planning to let some employees work from home permanently. Image Mark Zuckerberg said that the temporary changes caused by the virus spurred Facebook to re-evaluate its requirement that employees work in a shared office. Credit…Jim Wilson/The New York Times Facebook will allow many of…