Bloomberg International Business Machines Corp. (IBM) reported a drop in first-quarter revenue and pulled its profit forecast for the year, signalling that the Covid-19 pandemic has become another hurdle for the company in its transition to cloud computing. Sales declined 3.4% to $17.6 billion in the period that ended March 31, the Armonk, New York-based company said in a statement. ...

Bloomberg UK jobless claims increased last month as the coronavirus pandemic began to have an impact on the labour market. Claims rose 12,200 compared with a 5,900 gain in February, the Office for National Statistics said on Tuesday. The claimant count rate rose to 3.5%, the highest since the start of 2014. Unemployment is sure to keep rising after the ...

Bloomberg French automaker PSA Group posted a 16 percent slump in first-quarter sales and forecast the European market will shrink by a quarter this year as the coronavirus pandemic slams the car industry. The company has secured liquidity and cut costs, Chief Financial Officer Philippe de Rovira said in the statement on Tuesday, adding that it is preparing for a ...