-
Tech companies are finding themselves at the center of the falling out between the US and China as the two nations spar over the Communist Party’s handling of the coronavirus pandemic. Quarterly earnings reports are due out this week from Google, Facebook, Apple, Amazon and Microsoft, which will offer a first look at just how …
-
Swiss food giant Nestle reported its best quarterly sales growth in nearly five years on Friday as consumers stockpiled such items as Purina pet food, Nescafe coffee and frozen meals in preparation for coronavirus lockdowns. Sales in North America and Europe were particularly strong in March, helping to drive an overall rise of 4.3 percent …
-
Telecom giant AT&T said Wednesday warned that job cuts are likely on the horizon as its first-quarter results took a $430 million hit from the coronavirus. AT&T Chief Executive Officer Randall Stephenson told investors that “the economic effects of the pandemic and resulting societal changes are currently not predictable,” and that the firm has “withdrawn …
-
Snapchat parent Snap Inc. on Tuesday reported revenue that demolished Wall Street’s expectations as millions of hunkered-down users stared at its app amid the coronavirus pandemic. The social network famous for its disappearing photos and messages said that it saw usage jump toward the end of March as people turned to it to communicate with …
-
Netflix’s subscriber base is exploding as people holed up at home to avoid the coronavirus become video-bingeing couch potatoes. The Los Gatos, Calif.-based video-streaming giant added a record 15.8 million paying streaming customers in the first quarter of 2020 — more than twice the 7 million it had forecast in January before the coronavirus pandemic …
-
Huawei’s explosive growth has nearly come to a halt as the coronavirus crisis and a confrontation between the US and the Chinese Communist Party weighs on the Chinese tech giant. Huawei’s revenue climbed just 1.4 percent to 182.2 billion yuan (about $25.7 billion) in the first quarter, the company said Tuesday — a meager increase …
-
Coca-Cola’s sales volumes have plunged 25 percent this month as the coronavirus crisis sucks up commercial demand for soft drinks, the company said Tuesday. Almost all of that global decline has come from places such as restaurants, bars and movie theaters, which have been closed across the world to contain the bug, the beverage maker …
-
Morgan Stanley boss James Gorman said he’s “been fortunate” despite getting sick with the coronavirus last month, and that his recent decision not to lay off employees amid a looming recession was a no-brainer. The crisis took a personal turn at Morgan Stanley last week when Gorman, the bank’s 61-year-old chief executive, disclosed to employees …
-
Goldman Sachs chief executive David Solomon signaled on Wednesday he’s working on the “assumption” that the coronavirus-driven recession will continue at least through the end of this year. After seeing the $80 billion bank’s first-quarter profit nearly cut in half by the pandemic, CEO Solomon kicked off Goldman’s earnings call on a somber tone, making …
-
Jamie Dimon is preparing America’s biggest bank for some very rainy days ahead. The chief executive of JPMorgan Chase said he sees the economy worse before they get better on Tuesday after his bank reported its profits fell nearly 70 percent in the first quarter of 2020 as the coronavirus ravaged the US economy, forcing …
Tech companies are finding themselves at the center of the falling out between the US and China as the two nations spar over the Communist Party’s handling of the coronavirus pandemic. Quarterly earnings reports are due out this week from Google, Facebook, Apple, Amazon and Microsoft, which will offer a first look at just how …
