(Bloomberg) -- ViacomCBS Inc. shares rose as much as 16% on a surge in streaming subscriptions among homebound viewers during the coronavirus pandemic, along with a new distribution deal with YouTube.The increase at ViacomCBS echoes the huge recent gains at Netflix Inc. and Walt Disney Co.’s Disney+. The New York company said its two paid services, CBS All Access and Showtime OTT, delivered record subscribers, sign-ups and consumption, with subscribers surpassing 13.5 million, up 50% year-over-year. Its free streaming service, Pluto TV, saw monthly active users grow to 24 million.The shares gained as much as $2.38 to $17.26 in New York trading. They were down 65% this year through Wednesday.On an earnings call, ViacomCBS Chief Executive Officer Bob Bakish said the company is accelerating plans to roll out an expanded streaming service that will combine Viacom and CBS programming, citing “major changes coming this summer.”ViacomCBS faces a crowded field in streaming,...
(Bloomberg) -- Regulators are moving to let U.S. companies participate in technology standards-setting bodies alongside Huawei Technologies Co., despite the Chinese firm being blacklisted in the U.S. over security concerns.The Commerce Department is writing a regulation to make clear that restrictions on dealing with Huawei don’t bar involvement in international processes in which the Shenzhen-based maker of telecommunications equipment also is taking part, said two people briefed on the matter.The rule could be released within days for a review by other agencies and may not be final for some time, said the people who asked not to be identified because the change hasn’t been made public.The Commerce Department declined to comment.The Trump administration last year said it would cut off Huawei’s access to crucial American components, and has waged a campaign to get allies to shun the company’s telecom equipment because it is a security risk. Huawei has denied it is...
Tesla Inc (NASDAQ: TSLA), which is betting big on China to fuel growth, is apparently facing a setback in the country, according to a report in Bloomberg.Following a one-month-long closure forced by the coronavirus scare, the Shanghai Gigafactory resumed operations in full swing only in late February.Tesla has shuttered operations at its Gigafactory located at the outskirts of Shanghai once again, Bloomberg reported Thursday, citing people familiar with the matter.The workers, who were due to return to work Wednesday following a five-day Labor Day holiday, were asked to take a break until May 9, the report said.Component shortage is blamed for the suspension, Bloomberg said, citing Chinese technology news site 36Kr."While Tesla's only car factory outside the U.S. is seeing delays in receiving parts for its Model 3 in the future, it's also facing problems with a crucial piece of manufacturing equipment that's being fixed, according to the people," the report...
