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$1.5 Billion To Be Invested In Microsoft In Italy In Cloud Business

The United States based software giant Microsoft Corp. said that it plans to invest $1.5 billion in expansion of its data centres all around the world and as a part of that expansion plan, a data centre region in Italy will be developed by it which will be its first in the country,   Last...

Coronavirus Drug Maker Gilead Was Recently Targeted By Iran Linked Hackers

According to a report by the global news agency Reuters, staff at United States based drug maker Gilead Sciences Inc was targeted in recent weeks by hackers with links to Iran even as the company is moving towards development of a treatment for the novel coronavirus. The report was based on...

BMW Expects Pandemic Woes To Last The Whole Year, Reduces Outlook

The coronavirus pandemic is expected to hit its business in terms of demand and earning throughout out the year according to the luxury car maker BMW. This expectation prompted the German automaker to slash its forecast for profitability for its passenger cars after the fall in deliveries for the...

Coronavirus Hit To Disney’s Business At $1.4 Billion, Shanghai Park To Reopen

Walt Disney has predicted that the containment measures imposed by various governments to control the novel coronavirus pandemic will cut its profits by $1.4 billion. The loss to revenues and hence profits were primarily because of its closed down theme parks.   The company however said that...

Israeli Moovit Transit App Acquired By Intel For $900 Million

United States based chip maker Intel anncouend that it has purchased the Israel based public transit app maker Moovit in a deal worth about $900 million. The chip maker said that the this deal will help in the development of self-driving "robotaxis" that could be rolled out by the company on to the...

Pandemic Hit To Business To Get Worse Before Recovering, Expects Hugo Boss

While reporting a 17 per cent drop in sale in the first quarter, the German fashion house Hugo Boss said that it expects the economic and business impact of the novel coronavirus pandemic to get worse before businesses are able to revive. The company however added that signals of e rebound in...

US FDA Gives Emergency Use Approval To Roche’s Covid-19 Antibody Test

An antibody test for the detection of whether people were every infected with the coronavirus from Roche Holding AG was given emergency use approval from the United States Food and Drug Administration (FDA).     Such blood tests are currently in demand from governments, businesses and...

Amazon Forecast Possible Loss In Current Quarter Due To $4 Billion Expenses Related To Coronavirus

Despite a surge in revenues, Amazon.com Inc could post a quarterly loss for the latest completed quarter which would be the first in five years, the largest e-commerce company of the world said. The company explained the loss because of expenditure of at least $4 billion by it for measures against...

Exxon And Chevron Reduces Production Of Shale Due To Price And Demand Drop

The steep plunge in global crude prices as well as demand because of the global lockdowns to fight the coronavirus pandemic have forced  Exxon Mobil Corp and Chevron Corp to temporarily reduce production of shale oil in the United States.    Both the companies announced their plans...

Demand For Disinfectant Propels Clorox’s Quarter Revenues To Highest In A Decade

The increase in demand for bleach and other disinfectants during the novel coronavirus pandemic ravaging across the world has propelled the sale revenues of Clorox for its third first quarter to its highest in a decade. This prompted the company to raise its forecast for the entire year on Friday....

Worse Yet To Come Due To Coronavirus Pandemic, Says Carlsberg

After announcing a 7 per cent drop in its sales for the first quarter, beer maker Carlsberg said that the worse because of the coronavirus pandemic is yet to be seen. The company reported that the increased demand and sale of beer in the supermarkets could not offset the impact to the business...

Coronavirus Hit To Annual Profits Could Be $623 Millionm Says Britain’s Sainsbury’s

One of the largest supermarket retail chains of Britain - Sainsbury’s, issued a stark warning for profits for the current year and said that corornavirus pandemic could hit the company by more than 500 million pounds ($623 million). The company also announced deferment of any dividend payment...
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