Zoom boosts encryption to quell safety concerns as users top 300 million
Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to quell safety concerns as its users surged by 50% in the past three weeks.
Air France-KLM CEO bonus incompatible with state aid: Dutch Finance minister
Air France-KLM must scrap all of Chief Executive Ben Smith’s bonus payments for this year if it wants to secure state aid, Dutch Finance minister Wopke Hoekstra said on Thursday.
Dollar gives up gains against commodity currencies as oil recovers
The dollar erased gains and fell against the currencies of oil producers on Thursday, as a rebound in crude prices after an unprecedented collapse helped to calm markets unnerved by the massive coronavirus-led drop in global demand.
Credit Suisse warns over coronavirus uncertainties after first-quarter earnings beat
Credit Suisse has bulked up on provisions for expected credit losses and cautioned over uncertainty during the coronavirus outbreak, even as it posted a 75% rise in first-quarter net profit on Thursday, far outpacing expectations.
Truck maker Volvo profit falls less than expected amid pandemic pain
Sweden’s AB Volvo reported a smaller-than-expected fall in quarterly operating earnings on Thursday as service sales held up in the face of tumbling sales and orders of its trucks as demand evaporated in the face of the coronavirus.
Truck maker Volvo first-quarter profit falls less than expected
Swedish truck maker AB Volvo reported a smaller-than-expected fall in first-quarter operating earnings on Thursday but warned its net order intake of trucks had been negative since the end of March as customers canceled planned purchases due to the pa…
Renault’s first-quarter sales fall, outlook still unclear
French carmaker Renault on Thursday posted a 19.2% drop in first-quarter revenue to 10.13 billion euros ($10.97 billion), and said it was still too early to assess what impact the coronavirus crisis would have on its earnings this year.
Hyundai first-quarter profit tumbles 44%, far short of estimates, as coronavirus slams car demand
South Korea’s Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% to its lowest level for the quarter in a decade as the spreading coronavirus outbreak hit demand for cars worldwide.
Bankruptcy looms over U.S. energy industry, from oil fields to pipelines
U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as they struggle under heavy debt loads and a dual supply/demand shock in the worst crisis the oil industry has faced.
Record U.S. jobless claims wipe out post-Great Recession employment gains
A record 26 million Americans sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in U.S. history were wiped out in about a month as the novel coronavirus savages the economy.
