Intel buys Moovit transit app for $900 million to help develop robotaxis
Chipmaker Intel Corp has bought Israeli public transit app maker Moovit for about $900 million to help it develop self-driving “robotaxis” that could take to the streets in early 2022, the company said on Monday.
U.S. coronavirus tariff exemptions sought for robots, drones, elevators
Major U.S. firms and trade groups want the U.S. Trade Representative’s Office to waive tariffs on a wide range of Chinese-made products as a result of the coronavirus pandemic, including drones, robots, personal computers and 3D printers.
Wall Street snaps two-day slump on lift from tech titans
U.S. stocks ended higher on Monday as increases in large tech and internet companies and oil price gains outweighed concerns about the latest U.S.-China tensions and downbeat sentiment from the annual meeting of Warren Buffett’s Berkshire Hathaway.
Global shares fall on U.S.-Sino spat but Wall Street rebounds
The dollar rose on risk aversion and global stock markets fell on Monday as U.S.-Chinese bickering over the origin of the coronavirus outbreak sparked fear of a new trade war, but Wall Street rebounded as the lifting of lockdowns in some U.S. states bo…
AIG quarterly profit nosedives as COVID-19 claims loom
Insurer American International Group Inc on Monday posted a 93% 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.
Air France-KLM union tensions surface in bailout’s wake
Air France-KLM’s French unions on Monday criticised calls by their Dutch counterparts for KLM to be given greater autonomy, amid signs that a multibillion-euro coronavirus bailout is increasing tensions within the airline group.
U.S. SEC eases crowdfunding rules for firms due to coronavirus disruption
The U.S. Securities and Exchange Commission (SEC) on Monday said it would provide relief to smaller firms seeking to raise capital via online platforms to meet “urgent funding needs” due to the coronavirus-related disruption.
Oil up 3% as countries ease lockdowns, production falls
Oil was up 3% on Monday as more countries announced they would begin easing coronavirus lockdowns and as crude supply cuts by the world’s top producing nations and companies take hold.
France deals blow to Amazon as warehouses remain shut
France has rejected a request from e-commerce giant Amazon to tap a state-funded scheme to subsidise furloughed employees at its six closed warehouses in the country.
Stocks fall as U.S.-China tensions threaten rally
Global stock markets fell on Monday on concerns U.S.-Chinese bickering over the origin of the coronavirus outbreak will ignite a new trade war, speculation that strengthened the dollar and drove gold prices higher.
