Insurer American International Group Inc on Monday posted a 93per cent drop in quarterly adjusted profit, as it set aside money to cover claims related to the COVID-19 outbreak, which it called the single largest catastrophe loss the industry has ever seen.
Investors are treating the U.S. equity market’s blistering rally with a dose of caution, socking away cash, staying on the sidelines or buying insurance against a reversal even as markets scream higher in the midst of the coronavirus pandemic.
Apple Inc and Alphabet Inc's Google on Monday said they would ban the use of location tracking in apps that use a new contact tracing system the two are building to slow the spread of the novel coronavirus.
The first U.S. Supreme Court arguments conducted by teleconference - a break from tradition due to the coronavirus pandemic - played out smoothly on Monday in a case involving hotel reservation website Booking.com, with even the typically silent Justice Clarence Thomas joining the fray.
Chipmaker Intel Corp has bought Israeli public transit app maker Moovit for about US$900 million to help it develop self-driving "robotaxis" that could take to the streets in early 2022, the company said on Monday.
LONDON: The COVID-19 smartphone app being developed by Britain will be able to give serious insights into the virus by virtue of using centralised matching, despite its offering less privacy than rival apps, the head of the programme said. Countries are rushing to develop apps which, along with a...
Luxury sports car maker Ferrari still expects to make more than US$1 billion in core profit this year, providing a relative beacon of stability in an auto industry ravaged by the coronavirus crisis.
SINGAPORE: About six years ago, Ramalingam Kulanthivel turned to driving a taxi after he was laid off from his job in the manufacturing line. Being a cabby suits him, he said, as he appreciates the freedom that came with being able to drive when he wanted. “You’re like your own boss,” the...
SINGAPORE: Singapore’s factory activity shrank for the third consecutive month in April amid a “circuit breaker” period to curb the spread of COVID-19, making it the lowest reading since November 2008. The Purchasing Managers’ Index (PMI) for April came in at 44.7, down 0.7 point from the previous ......
Like the myriad approaches governments are taking to tackle the coronavirus crisis, the way the world's top banks are calculating their potential losses also differs widely, with puzzling outcomes for investors.
