Top executives of the Detroit Three automakers and other major Michigan employers on Wednesday condemned racism and injustice in the United States following the death last week of an unarmed black man at the hands of Minneapolis police, carefully joining a charged national debate.
Global smartphone shipments will fall nearly 12per cent to 1.2 billion units in 2020, market research firm IDC said on Wednesday, citing lower consumer spending due to the economic impact of the coronavirus crisis.
Gilead Sciences Inc's potential COVID-19 treatment, remdesivir, could bring in more than US$7 billion in annual sales by 2022, spurred by governments stockpiling the drug to guard against future outbreaks, SVB Leerink said on Wednesday.
Warner Music Group Corp's stock popped 8per cent on its Nasdaq debut on Wednesday, after the world's third-largest recording label sold shares in its US$1.9-billion initial public offering towards the higher end of its target.
CIMB Bank Singapore is backtracking on its intended mortgage floor rate hike, following pushback from incensed customers who have banded together to challenge the bank’s earlier decision.
Deutsche Bank could face enforcement action by New York regulators investigating its ties to the late U.S. financier and accused sex offender Jeffrey Epstein, two sources familiar with the investigation told Reuters on Wednesday.
French government and industry officials are negotiating a 1-billion-euro, privately led investment fund for small aerospace suppliers in which major manufacturers could invest 200 million euros, people familiar with the proposals said on Wednesday.
Fiat Chrysler is piloting a project in its historic Italian home of Turin to allow its hybrid plug-in cars to automatically switch to electric-only mode when entering congested city centres.
Airbus is looking to hold underlying jet output at 40per cent below pre-pandemic plans for two years, an approach which adds new pressure to cut thousands of jobs, industry sources said.
U.S. services industry activity pushed off an 11-year low in May, but businesses appeared in no rush to rehire workers as they reopen, supporting views the economy could take years to recover from the devastation caused by the COVID-19 crisis.
