Bloomberg Elon Musk lashed out at the California county blocking Tesla Inc. from reopening its only US car plant, threatening to immediately relocate operations to other states and cease manufacturing at the factory. Hours after the chief executive officer tweeted that Tesla would sue Alameda County, which didn’t allow the facility to resume operations, the electric-car maker filed a complaint ...

Bloomberg The US health-care industry wasn’t immune to the devastating job losses caused by the coronavirus last month. Even as health-care workers battled Covid-19 in emergency rooms and intensive-care units across the country, the industry saw 1.4 million jobs vanish in April, the Labor Department reported on. That equates to about one of every 12 health-care jobs. The largest declines ...

Bloomberg Shares of car-parts suppliers rallied after stronger-than-expected results suggest the companies may be doing better than feared amid the challenges posed by coronavirus. American Axle, Lear and Tenneco were among biggest gainers in the sector after all three reported Q1 results that impressed investors and analysts, though concerns about the second quarter persist. Shares also received a boost on ...

Bloomberg Plant-based protein companies have been trying to sway consumers away from beef for years. Now, meat shortages caused by Covid-19 pandemic are making their job easier. Faux meat producers have a once-in-a-lifetime opportunity as supplies of beef tighten in the US. Wendy’s Co. has been running out of hamburgers at some locations, while Kroger Co. and Costco Wholesale Corp. ...

Bloomberg In their latest feat of levitation, US stocks are about to pull off their biggest earnings-season rally in six years. Impressive — or ridiculous, depending on your view — considering it happened as American companies were reporting a 16% profit drop that was the worst since the financial crisis. Since firms started disclosing results, the S&P 500 has jumped ...

Bloomberg The Swiss National Bank’s (SNB) US equity portfolio declined in value for the first time in more than a year, reflecting the market rout caused by the coronavirus outbreak. The central bank, which has amassed vast holdings of foreign currency due to interventions to weaken the franc, had $94 billion invested in US stocks at the end of March, ...

Bloomberg After weeks of wondering how corporate Canada fared in the early days of the Covid-19 pandemic, investors finally got a proper look under the hood. Senior executives spoke about the impact. Some described the future as too hard to predict. Others tried to identify parallels and differences with the financial crisis. By withdrawing their 2020 forecasts, many Canadian companies ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, ordered payment of all costs related to treatment of critical cases of coronavirus through stem cell therapy. The initiative of His Highness Sheikh Mohamed bin Zayed Al Nahyan comes after the Abu Dhabi Stem ...

Bloomberg Oil notched its first back-to-back weekly gain since February amid optimism around production cuts beginning to eat into a massive supply glut. Futures in New York climbed 25% this week. Explorers are cutting production in response to crude oil trading in the $20-a-barrel range. EOG Resources Inc. is cutting about a quarter of its oil production for May in ...

Dubai / Emirates Business In the era of distance learning capability brought in by the Covid-19 pandemic, a line-up of ministers and decision makers in the education sector highlighted why it is critical to develop a sound implementation strategy to ensure the continuity of higher education and learning, during a session titled, ‘Life After Covid-19: Higher Education’. The virtual session ...