Category: Business

Mercedes Benz to resume second shift in Brazilian factory as sales slowly recover

The Brazilian unit of Mercedes Benz (DAIGn.DE) said on Wednesday it has resumed a second shift in its factory located in Sao Bernardo do Campo, an industrial suburb of Sao Paulo, to increase social distancing among employees as sales begin to rise. The German automaker added that most of its employees working in production lines […]

Tesla becomes most valuable automaker in latest stock rally

Tesla Inc on Wednesday became the highest-valued automaker as its shares surged to record highs and the electric carmaker’s market capitalization overtook that of former front runner Toyota Motors Corp. Tesla shares gained 5% in early morning trade to a record of $1,133, boosting the company’s market cap to $209.47 billion – roughly $6 billion […]

Apple to re-close more stores in seven U.S. states, bringing total to 77

Apple Inc (AAPL.O) said it would re-close more than two dozen stores in seven states starting Thursday, including its home state of California, bringing total closures to 77 as coronavirus cases continue to rise. The stores will close in Alabama, Georgia, Idaho, Louisiana, Nevada and Oklahoma, it said on Wednesday, when additional stores had already […]

U.S. House approves extension of small business loan program

The U.S. House of Representatives on Wednesday approved an extension of a $660 billion lending program in an effort to help small businesses hit hard by the coronavirus pandemic, renewing a lifeline that had just expired. The Senate approved the extension on Tuesday. It would keep the Paycheck Protection Program (PPP), which expired at midnight […]

Facebook frustrates advertisers as boycott over hate speech kicks off

Advertisements for more than 400 brands including Coca-Cola and Starbucks vanished from Facebook on Wednesday, after the failure of last-ditch talks to stop a boycott over hate speech on the site. U.S. civil rights groups have enlisted the multinationals to help pressure the social media giant into taking concrete steps to block hate speech in […]

In Brazil, delivery drivers for Uber, Rappi and others protest amid pandemic

More than a thousand food delivery drivers on motorcycles gathered in São Paulo on Wednesday to protest their work conditions, set by Uber Technologies Inc (UBER.N) and makers of other apps, as their services remain in high demand due to coronavirus lockdowns. The drivers seek better pay and improved health measures, with Brazil now a […]

Fed deluged by letters from needy over U.S. loan program

The U.S. Federal Reserve on Wednesday released thousands of letters and emails from individuals, businesses and nonprofit groups this spring urging wider access to its Main Street Lending Program for Americans slammed financially during the pandemic. The central bank announced the Main Street program in late March, offering loans to mostly medium-sized businesses with up […]