Facebook bets on India with $5.7 billion Reliance deal
Facebook is set to spend $5.7 billion to buy a 9.99% stake in Reliance Industries’ digital arm, as it looks to roll out services for India’s grocers and small businesses by capitalizing on WhatsApp’s extensive reach in the country.
Fox’s Rupert, Lachlan Murdoch to forgo salary due to hit from coronavirus
Fox Corp Chairman Rupert Murdoch and Chief Executive Officer Lachlan Murdoch will forgo their salaries in response to the coronavirus crisis, according to an internal memo sent to employees on Wednesday.
Wall Street rises as Congress prepares more stimulus, oil prices bounce
Wall Street’s main indexes surged on Wednesday as oil prices recovered some ground and Congress looked on course to seal nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.
Iran’s oil minister says more output cuts may be needed
Oil producer countries may have to cut output more than the record amount already agreed to tackle an “unprecedented” slump in prices, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Wednesday by the ministry’s website SHANA.
Nasdaq cautious as volume spike drives first-quarter profit beat
Nasdaq Inc reported higher-than-expected first-quarter profits on Wednesday, benefiting from market volatility fueled by the coronavirus crisis, but the transatlantic exchange operator also warned of uncertainty ahead.
Delta warns of choppy coronavirus recovery, working to halve cash burn
Delta Air Lines Inc said on Wednesday it does not expect air travel to recover for two or three years and is working to halve its cash burn after posting its first quarterly loss in eight years due to the coronavirus pandemic.”We should be prepared fo…
Expedia shares fly on report of talks to sell stake for $1 billion
Shares of Expedia Group Inc rose 9% on Wednesday after a report that the online travel services company was in advanced talks to sell a stake to private-equity firms Silver Lake Partners and Apollo Global Management Inc for about $1 billion.
Chevron barred from drilling, transporting oil in Venezuela: U.S official
Chevron Corp has been banned from drilling or transporting oil in Venezuela and its assets there are “mothballed” as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official sa…
Flaw in iPhone, iPads may have allowed hackers to steal data for years
Apple Inc is planning to fix a flaw that a security firm said may have left more than half a billion iPhones vulnerable to hackers.
Sycamore Partners seeks to end Victoria’s Secret deal, L Brands shares plunge
Investment firm Sycamore Partners is seeking to end its deal to buy a stake in L Brands Inc’s lingerie brand Victoria’s Secret, citing business decisions the retailer took during the coronavirus pandemic, a court filing on Wednesday showed, sending th…
