In a recent interview with the South China Morning Post, the founder of Chinese telecoms giant Huawei said he was inspired by the political system and business governance he saw in the United States when he started the company. Ren Zhengfei also spoke about how the world’s largest telecommunications equipment supplier, and China’s biggest smartphone maker, is dealing with US sanctions. ...
(Bloomberg) -- The auto industry -- already fretting lengthy factory shutdowns and depressed new-vehicle demand -- is starting to sound the alarm about a potential used-car price collapse that could have far-reaching consequences for manufacturers, lenders and rental companies.Used-vehicle auctions are for now virtually paralyzed, much like the rest of the economy. The grave concern market watchers have is that vehicles already are starting to pile up at places where buyers and sellers make and take bids on cars and trucks -- and that this imbalance will last for months.If that fear is realized and prices plummet, it will be detrimental to automakers and their in-house lending units, which likely will have to write down the value of lease contracts that had assumed vehicles would retain greater value. Rental-car companies also will get less money from selling down their fleet of vehicles, which are sitting idle amid a global pandemic that’s...
23 countries reach a historic deal to cut oil output, airlines find aid terms hard to swallow and millions of Christians celebrate Easter in isolation. WSJ’s Shelby Holliday has the latest on the pandemic. Photo: Chung Sung-Jun/Getty Image...
(Bloomberg) -- Seventy coronavirus vaccines are in development globally, with three already being tested in human trials, the World Health Organization said. Spain reported the fewest number of new cases since March 20.Parts of the U.S. may be ready to ease emergency measures in May, said Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases. U.K. Prime Minister Boris Johnson praised doctors for saving his life during his week-long hospitalization for Covid-19 treatment.Futures on the three main U.S. equity indexes all dropped, while stocks fell in Asia’s main financial centers. Markets across Europe were closed for the Easter holiday.Key DevelopmentsCoronavirus Tracker: Global cases reach 1.85 million; deaths top 114,00070 coronavirus vaccines in development globallyChina’s Harbin tightens measuresPork producer warns of meat shortagesCruise passengers spend Easter on “ghost ship”The Virus Should Wake Up the West: Micklethwait and WooldridgeErdogan Gets Over Lockdown Chaos Without Losing Cabinet Member (5:53 p.m. HK)Turkish...
