Apple Inc. (AAPL) and Alphabet Inc.’s Google (GOOGL) are planning to develop a contact-tracing software technology that will be added to their smartphones and seeks to slow down the spread of the coronavirus pandemic.The rare collaboration between the two rival tech giants will enable the use of bluetooth technology to help governments and health agencies contain the spread of the virus, while user privacy and security are preserved, the two companies said in a joint statement.More specifically, the partnership will add technology to their smartphone platforms that will alert users if they have come into contact with a COVID-19 infected individual. Once users have been alerted, they will be told to go into quarantine. For the technology to be effective, smartphone users must voluntarily opt into the system and add to their public health app if they test positive for Covid-19.The two tech giants said that the software technology, known as contact-tracing,...
General Electric Co.’s (GE) credit outlook was lowered to negative from stable by rating agency S&P Global, amid concern that the engine maker won’t be able to reduce debt leverage, should the aviation industry fail to see the start of a recovery later this year.The outlook change comes after GE disclosed that it expects adjusted 1Q EPS to be “materially below” its prior guidance on March 4, 2020 of about $0.10, according to preliminary figures and withdrew financial guidance for 2020. In March GE announced job cuts at its aviation unit, which makes engines for Boeing Co (BA) and Airbus Group SE (EADSF) aircraft.Read more: GE Shares Tumble on Analyst Downgrade, Reversing Earlier GainsFurthermore, S&P Global warned that the company’s BBB+ credit rating could be at risk of a downgrade.“We could lower our ratings if we believe the company's leverage will stay above 3.5x beyond 2021 as lower EBITDA and the...
(Bloomberg) -- The U.S. became the world’s epicenter for the coronavirus as deaths passed Italy, while more than half of the 99 new cases reported by China were passengers on a plane that flew to Shanghai from Russia.The pace of deaths slowed in Spain, France and Germany, though Italy reported the most new cases in a week. Singapore said it will immediately impose fines on people who flout social-distancing rules and Indonesia imposed tighter measures on the outskirts of Jakarta.The Pentagon is using a wartime law to fund production of N95 masks. U.S. governors sought $500 billion in federal aid to offset the economic hit from social-distancing measures. The Trump administration said it’s on track to roll out the diagnostics needed to determine when normal activities can resume.Key DevelopmentsCoronavirus Tracker: Global cases exceed 1.77 million; deaths top 108,000U.S. deaths reach 20,600China reports 99 new cases from April 11, 97 of which...
It’s another shortened week ahead but also another big week for the global financial markets. OPEC, corporate earnings, stats, and COVID-19 are in focus....
