Exclusive: U.S. drafts rule to allow Huawei and U.S. firms to work together on 5G standards – sources
The U.S. Department of Commerce is close to signing off on a new rule that would allow U.S. companies to work with China’s Huawei Technologies on setting standards for next generation 5G networks, people familiar with the matter said.
Lyft sees rider demand rebound in late April, ‘on path to profitability’
Lyft Inc on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy.
T-Mobile beats first-quarter postpaid subscriber estimates
T-Mobile US Inc added more monthly bill paying phone subscribers than expected in the first quarter, thanks to cheaper plans compared to its rivals and a surge in demand for phone services as people work from home amid lockdowns.
Fox Corp quarterly revenue tops estimates as Super Bowl boosts viewership
Fox Corp beat Wall Street estimates for third-quarter revenue and profit on Wednesday as Super Bowl broadcast boosted television viewership, sending the company’s shares up more than 2% in extended trading.
New York Times adds record digital subscribers, posts upbeat first-quarter results
The New York Times Co crossed five million digital subscribers, adding a record number and withstanding a heavy drop in ad revenue in the first quarter that was dominated by heavy news coverage around the COVID-19 pandemic.
Surging small cap stocks offer hope of U.S. growth rebound
Big gains in small caps stocks are fueling hopes that a bounce in broader equity markets may stick, as investors ponder how quickly the U.S. economy can emerge from its coronavirus-fueled slowdown.
World shares mixed amid hopes for business pickup; oil slips
Oil prices slid and world equity markets seesawed on Wednesday as investor hopes for a pickup in business activity were dashed by downbeat economic data and a rise in U.S. crude stockpiles to three-year highs that highlighted low fuel demand.
The magic word for Detroit automakers is trucks
The coronavirus pandemic brought the U.S. auto industry to its knees, but Americans’ love affair with beefy pickup trucks is helping the Detroit automakers get on the road to recovery.
Tech leads Wall Street higher as financials fall
The benchmark S&P 500 rose modestly on Wednesday, with gains in technology shares offsetting declines in financials and defensive groups as data showing U.S. private employers laid off 20 million workers in April underscored the economic fallout of the coronavirus outbreak.
Breakout time behind plexiglass: Renault factory restarts in France
With temperature scanners on the door and tables partitioned by plexiglass shields in the breakout area, workers at one of Renault’s French plants are adjusting to new routines as carmakers try to cope with the coronavirus crisis.
