U.S. regulator is reviewing Abbott’s fast COVID test after studies raise accuracy concerns
The U.S. Food and Drug Administration said on Thursday that Abbott Laboratories’ speedy coronavirus test, which can deliver results within minutes and is used at the White House, could potentially be inaccurate but can still be used to test patients.
WeWork reports slower cash burn in first quarter: CFO email
The We Company, owner of WeWork, said on Thursday that for the first time quarterly revenue surpassed $1 billion and cash burn improved 60% sequentially, but the money-losing shared office operator did not mention profitability in an email to employees…
India’s farmers gather record wheat crop, but cannot move it
Late last month, Sukrampal had to beg and borrow farmhands from nearby villages to gather his part of the country’s largest-ever wheat harvest in Haryana state near New Delhi.
Asian stocks set to rise on optimism of post-lockdown recovery, stimulus
Asian stocks were set to rise on Friday amid investor optimism about the re-opening of the U.S. economy from coronavirus lockdowns and possibly more stimulus that could fuel a recovery.
WeWork reports higher free cash flow in first quarter: CFO email
The We Company, owner of WeWork, said on Thursday that for the first time quarterly revenue surpassed $1 billion and free cash flow increased 60% sequentially, but the money-losing shared office operator did not mention profitability in an email to emp…
Nike warns of fourth-quarter hit from virus-related store closures
Nike Inc said on Thursday store closures across the globe will hurt its retail and wholesales businesses in the fourth quarter, even as it ramps up its e-commerce capabilities to address increased online orders amid the COVID-19 pandemic.
Second layoffs, backlogs wave keeps U.S. jobless claims elevated
The novel coronavirus crisis continues to pummel the U.S. labor market, with the number of Americans filing for unemployment benefits falling less than expected last week, suggesting a second wave of layoffs in industries and jobs not initially impacte…
GM self-driving unit Cruise cuts jobs as pandemic hits sector
General Motors Co’s self-driving car unit Cruise told staff on Thursday it has decided to lay off workers, the latest start-up in the nascent industry to cut jobs during the coronavirus pandemic.
Nike warns of fourth-quarter impact in North America business
Nike Inc said on Thursday store closures in North America will hurt its retail and wholesales businesses in the fourth quarter.
Trump says he doesn’t want to talk to Xi right now, could even cut China ties
U.S. President Donald Trump signaled a further deterioration of his relationship with China over the novel coronavirus, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with t…
