AT&T Boss Retires With $274,000 A Month For Life
Not everyone gets personally insulted by the president of the United States when they announce their retirement. But when you’re walking away with a pension plan big enough to buy…
Disney To Increase Shanghai Park Attendance By 5,000 Per Week, According To CEO
Disney plans to increase capacity at its Shanghai park by 5,000 people each week until it reaches the limited capacity figure set by Chinese government, CEO Bob Chapek told CNBC…
Paving Way For U.S. Auto Industry, Michigan Factories To End Coronavirus Lockdown
Factories in Michigan can resume production on Monday, enabling North American automakers to bring thousands of idled employees in the state back to work more than six weeks after locking…
Johnson & Johnson Aims To Produce 1 Billion Coronavirus Vaccines For Next Year
Healthcare giant Johnson & Johnson is looking to produce a billion coronavirus vaccines for next year, according to Dr. Paul Stoffels, the company’s chief scientific officer. “We start clinical trials…
Emirates Airline Reports 21% Increase In Full-Year Profit
DUBAI, United Arab Emirates — Dubai state carrier Emirates Airline reported a 21% increase in its full-year profit in the 12 months to March 31, it reported Sunday. The airline,…
Musk Says Tesla Is Prepared To Move Out of California Amid Fight Over Factory Shutdown
CEO Elon Musk said on Twitter Saturday that the company is preparing to file a lawsuit against Alameda County, and will move its headquarters and future operations out of California.…
Tesla Secures $565 Million Loan For Shanghai Factory
Electric carmaker Tesla Inc has entered into an agreement for a working capital loan of up to 4 billion yuan ($565.51 million) with a lender from China for its Shanghai…
Google Announces Company Holiday On May 22 To Stem Work-From-Home Burnout
Alphabet Inc’s Google said on Friday it has asked employees to take a day off on May 22, to address work-from-home-related burnout during the coronavirus pandemic. Chief Executive Officer Sundar…
California County Says Tesla Not Cleared To Reopen Vehicle Factory After Musk Asked Workers To Resume
Tesla Inc “must not reopen” its vehicle factory in the San Francisco Bay area as local lockdown measures to curb the spread of the coronavirus remain in effect, the local…
Pfizer To Outsource Some Drug Production, Focus On Coronavirus Vaccine
Pfizer Inc (PFE.N) said on Friday it is in talks to shift more of its medicine production to outside contractors as it prepares for large-scale production of an experimental vaccine…
Uber Says ‘No Sacred Cows’ Amid Coronavirus Crisis
Uber has warned it may scale back parts of the business as it tries to navigate through the coronavirus crisis. “There are no sacred cows,” said the taxi-hailing app’s chief…
Walmart And Other U.S Superstores Are Still Hiring As Other Industries Purge Workers
Amid the carnage of the U.S. employment report for April was one bright spot: superstores led by Walmart Inc (WMT.N), the world’s largest retailer, added more than 90,000 jobs. Overall,…
J.C. Penney To File For Bankruptcy As Soon As Next Week
J.C. Penney Co Inc (JCP.N) is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores,…
Tesla Aims To Restart Fremont Plant On Friday
Tesla Inc is aiming to restart production in its U.S. car plant in Fremont, California on Friday afternoon, according to an email sent by Chief Executive Officer Elon Musk to…
Africa’s Wealthiest City Says 1 Million People Need Food Aid
Almost one million people in Johannesburg, South Africa’s commercial hub, are in need of food aid due to movement restrictions imposed to curb the coronavirus pandemic, according to its mayor.…
Wave of U.S. Bankruptcies Builds Toward Worst Run in Many Years
First, J. Crew. Now Neiman Marcus. Flashing red: J.C. Penney, Hertz and many more. Get ready for what could be the most jarring stretch of corporate bankruptcies in memory. The…
Facebook Will Allow Most Employees To Work From Home Through End Of 2020
Facebook CEO Mark Zuckerberg will announce Thursday that most of its employees will be allowed to continue to work from home through the end of 2020, a company spokeswoman told…
Uber Posts $2.9 billion Loss, But Sees Encouraging Signs In Reopening Markets
Uber Technologies Inc (UBER.N) said on Thursday it saw encouraging signs in markets hit by the coronavirus epidemic as it posted a 14% rise in revenue growth, supported by its…
Dropbox Quarterly Revenue Beats Estimates
Dropbox Inc’s (DBX.O) quarterly revenue beat Wall Street estimates on Thursday, as the file-hosting company signed up more paying customers on its platform with people shifting to remote work due…
Nintendo Profits Soar 41%, Mainly From ‘Animal Crossing’
The success of the Nintendo Switch during the coronavirus pandemic propelled the Japanese video company to a banner year. Nintendo (NTDOF) said on Thursday that it made 352 billion yen…
Virgin Media And O2 Agree On $39 Billion Merger To Create A New UK Telecom Giant
Liberty Global and Telefonica have agreed to combine their U.K. operations in a deal that will create a new giant in the country’s telecommunications industry. Liberty Global’s cable operator Virgin…
Lyft Sees Rider Demand Improve In Late April, ‘On Path To Profitability’
Lyft Inc (LYFT.O) on Wednesday posted higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable, saying ridership hit by the coronavirus pandemic had improved in late…
T-Mobile Beats Phone Subscriber Estimates As Lockdown Creates Demand Surge
T-Mobile US Inc (TMUS.O) added more monthly bill paying phone subscribers than expected in the first quarter, thanks to a surge in demand for cheaper phone services as people work…
General Motors Posts $294 Million Profit In The First Quarter Despite Crippling Production And Sales From Coronavirus
General Motors said Wednesday it eked out a $294 million profit for the first quarter despite the fallout from the coronavirus pandemic that has shuttered factories and devastated sales. That…
GM To Practice Social Distancing At Car Factories Once They Reopen
GM’s factories in North America will reopen for the business of making cars on May 18, the automaker revealed in its first quarter earnings release on Wednesday. But to pull…
Where’s The beef? Wendy’s Turns To Chicken To Prop Up Sales
Wendy’s Co (WEN.O) said on Wednesday it would focus on marketing its chicken products as it grapples with beef supply shortages in the United States that forced the burger chain…
Qatar Airways Expects To Re-Open Routes This Month
Qatar Airways said on Wednesday it would this month start to rebuild its network, in anticipation countries will ease air travel restrictions and based on monitoring of passenger trends. State-owned…
Samsung Heir Lee Apologises Over Succession, Won’t Hand Control To Children
Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession plans and said he will not hand over management rights…
Disney Earnings Plummet More Than 90% As Coronavirus Wipes Out More Than $1 Billion
Walt Disney Co. profit dove more than 90% in the second quarter, an example of the drastic effects on the company from the COVID-19 pandemic, which executives said cost the…
California Sues Uber, Lyft Over Misclassifying Drivers As Contractors
California and three of its largest cities on Tuesday sued Uber Technologies Inc (UBER.N) and Lyft Inc (LYFT.O), accusing them of classifying their drivers improperly as independent contractors instead of…