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GM kicks off restart in Mexico as Lear Corp readies for return
General Motors Co said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp also geared up for production.
Categories: Reuters
SoftBank Group's sale of 5% telco unit stake to raise $2.9 billion
SoftBank Group Corp said on Friday its planned sale of 5% in its domestic telco SoftBank Corp would fetch 310.2 billion yen ($2.9 billion), as part of a programme to raise $41 billion through asset sales.
Categories: Reuters
Nvidia forecasts sales above estimates, powered by data center results
Nvidia Corp on Thursday forecast second-quarter revenue above analysts' estimates, as demand surges for its chips used in the data centers that power the shift to working remotely because of the new coronavirus outbreak.
Categories: Reuters
Asia shares set to fall as Sino-U.S. strains hit confidence
Asian shares were set for another retreat on Friday as U.S.-China tensions curbed investor risk appetite and caused global equity markets to stumble.
Categories: Reuters
Wall Street finishes down as U.S.-China tensions heighten trade deal worries
Wall Street ended lower on Thursday, a day after hitting two-month highs, on a fresh wave of China-U.S. tensions that raised doubts about the trade deal reached early this year between the world's two largest economies.
Categories: Reuters
GM starts to reopen plants in Mexico
General Motors Co said that it was on Thursday gradually restarting the transmissions and motors lines at its Mexican plants in Ramos Arizpe in the northern state of Coahuila and in the central city of Silao.
Categories: Reuters
Hewlett Packard Enterprise lays out $1 billion savings plan, pay cuts
Hewlett Packard Enterprise on Thursday unveiled a plan targeting gross savings of at least $1 billion by 2022 and cut the base salaries of top executives by 25% as the software maker seeks to weather the coronavirus crisis.
Categories: Reuters
Lear Corp asks some Mexico workers to restart activity on Friday
U.S. auto parts maker Lear Corp has asked some workers in Mexico to restart activity on Friday, including training sessions on safety, the company said in a message to employees.
Categories: Reuters
GM restarting Silao, Mexico eight-speed transmission line
General Motors Co on Thursday was restarting the eight-speed transmission line at its plant in Silao in Mexico's Guanajuato state, according to a company message sent to workers.
Categories: Reuters
Senators attempt to advance bill lengthening coronavirus business loan terms
Negotiators in the U.S. Senate reached agreement on Thursday on legislation that would double the period of time in which small businesses can use Paycheck Protection Program loans, to 16 weeks from the current eight-week limit, according to a Senate aide.
Categories: Reuters
Indiana mattress business adapts to lure customers back
Lauren Taylor is figuring out what’s required to run a mattress store in the age of a deadly pandemic.
Categories: Reuters
Hewlett Packard Enterprises lays out $1 billion savings plan, pay cuts
Hewlett Packard Enterprise on Thursday unveiled a plan targeting gross savings of at least $1 billion by 2022 and cut the base salaries of top executives by 25% as the software maker seeks to weather the coronavirus crisis.
Categories: Reuters
U.S. meat inventories tightened as virus shut slaughterhouses: USDA
U.S. frozen pork inventories fell in April, when they typically rise, and beef inventories dropped more than normal as the coronavirus pandemic shut slaughterhouses and prompted grocers to limit customers' buying, government data showed on Thursday.
Categories: Reuters
Trump visits Michigan Ford plant amid political tensions, does not wear mask
President Donald Trump traveled on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid tensions with its Democratic governor during the coronavirus pandemic, opting not to wear a protective face mask for the cameras.
Categories: Reuters
Top safety official at Waymo self-driving unit stepping down
Alphabet Inc’s Waymo self-driving unit said on Thursday that its chief safety officer, Debbie Hersman, was stepping down but would remain as a consultant to the company.
Categories: Reuters
'I've not yet signed Renault loan', says French finance minister
France's Finance Minister Bruno Le Maire said he has not signed off on a 5 billion euro ($5.47 billion) state-guaranteed loan to help Renault cope with the fallout from the coronavirus, and that discussions continued.
Categories: Reuters
Nvidia forecasts second-quarter revenue above estimates
Nvidia Corp on Thursday forecast second-quarter revenue above analysts' estimates, as demand surges for its chips used in data centers that power the shift to working remotely due to the coronavirus outbreak.
Categories: Reuters
Hewlett Packard to cut costs by $1 billion, reduces CEO pay by 25% on pandemic woes
Hewlett Packard Enterprise on Thursday unveiled a plan to cut costs by at least $1 billion by 2022 and said it would reduce the base salary of its chief executive officer by 25%, in response to the impact of the COVID-19 pandemic.
Categories: Reuters
Facebook's Zuckerberg embraces remote work outside Silicon Valley
Facebook Inc will permanently embrace remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg told employees on Thursday, accelerating the tech sector's geographic diversification away from its home in Silicon Valley.
Categories: Reuters
Stocks slip on U.S.-China tensions; oil rises to 2-1/2-month high
Global equities slid on Thursday on concerns about the long-term impact of the new coronavirus and resurgent U.S.-China tensions, though oil markets ignored those worries and marched to 2-1/2 month highs.
Categories: Reuters