Business News Weekly ─ March 30, 2020
“Tech innovators put their minds to fighting virus” ─ from an article in the Wall Street Journal. It goes on to say Silicon Valley’s technical resources are mobilized to fight the coronavirus, trying to hack everything from disease modeling to healthcare and medical – device manufacturing.
“Apple should hold off on 5G iPhone” ─ from an article in the Wall Street Journal company has other moves, it can make as consumers will need other upgrades.
Student debt holders get some relief. The government will give student loan borrowers the option to spin payments for two months without penalty. The government also stopped charging interest on these loans indefinitely.
Amazon’s Bezos, other CEOs sold their shares just in time. Top executives at US- traded companies sold a total of $9.2 billion of shares of its own companies between the start of February and the end of last week.
Facebook use leaps, but ad sales weaken.
Twitter warns on performance. Twitter warned its financial performance would fall short this quarter as the Corona virus endemic keypresses advertising spending.
“Yum Brands CEO to forgo 2020 salary to fund general manager bonuses” ─ from CNBC. His salary will instead fund one-time $1,000 bonuses to the company’s nearly 1,200 general managers and an employee medical relief fund. Gibbs stood to make $900,000 from his salary this year, excluding any performance-based bonuses.
“J&J, U.S. government plan one billion doses of coronavirus vaccine” ─ from Reuters. Johnson & Johnson said on Monday that it and the U.S. government will invest $1 billion to create enough manufacturing capacity to make more than 1 billion doses of a vaccine it is testing to stop the new coronavirus that has killed more than 35,000 people around the world.
“Microsoft says Skype users surge amid coronavirus outbreak” ─ from Reuters. Microsoft Corp said on Monday its video calling platform Skype saw a 70% jump in usage in the last week of March from a month earlier, as more people shift to working from home amid the coronavirus pandemic. The platform is being used by 40 million people, the company said in a blog post, adding that Skype-to-Skype calling minutes jumped 220% from a month earlier.