The coronavirus (COVID-19) outbreak has disrupted supply chains and international trade with more than 100 countries closing national borders to curtail the spread of the deadly virus, which has infected more than 2 million globally.
The pandemic has weighed on corporate profit margins and impacted economic growth. Notably, the UN warned that the global economy could shrink up to 1% this year with 22 million people filing for unemployment in the past month in the United States, a reversal from its earlier prediction of 2.5% growth.
Moreover, social media companies are witnessing spike in conspiracies related to coronavirus, including misleading or inaccurate claims, false testing methods and fake cures at an alarming rate.
This has prompted tech giants like Facebook FB, Twitter TWTR, Alphabet’s GOOGL Google, Microsoft MSFT and Apple AAPL to develop tools that are helping people stay connected in a secured way.
At a time when fake news
EXCLUSIVE, UPDATED, 11:15 AM: Jeffrey Katzenberg has always loved a good scrap, and the Quibi kingpin came out swinging Tuesday after being officially named a defendant in the ongoing and competing lawsuits over the mobile platform’s Turnstyle technology.
“With its amended complaint, Eko’s desperation and the weakness of their case are more transparent than ever,” said a spokesperson for the Meg Whitman-run Quibi to Deadline this morning, after we broke that Katzenberg and several Quibi staffers had been added to the Eko’s suit alleging patent infringement and now breach of contract.
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“No new facts are alleged and it seems designed only to try to score more publicity,” Quibi went on to say, with an always present eye to media perspectives and coverage.
“Eko can revise, recut and redo their tortured arguments all they want, but the shakedown won’t work,”
(Bloomberg) — U.S. technology stocks are on their hottest winning streak of the year, yet those gains aren’t necessarily translating to the same boost for their peers in Asia.
The tech benchmark Nasdaq 100 Index, heavily skewed toward the so-called FAANG stocks — Facebook Inc., Apple Inc., Amazon.com Inc., Netflix Inc., Google parent Alphabet Inc. — as well as top position Microsoft Corp., has now rallied for six straight days. It has rebounded 33% since a low in March as investors piled into technology and biotech shares seen as winners amid the social-distancing lockdowns of the coronavirus pandemic.
Read: Nasdaq’s Resilience Pushes Benchmark Dominance to 20-Year High
There’s no equivalent tech mainboard in Asia, with the MSCI Asia Pacific Information Technology Index the closest comparable. It’s up a comparatively weak 24% since mid-March, and the top stocks in the gauge, Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co., have lagged
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