Tuesday 19 May 2020

Volkswagen pays 9 million euros to end proceedings against chairman, CEO

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Volkswagen pays 9 million euros to end proceedings against chairman, CEO

Volkswagen AG has agreed to pay 9 million euros ($9.9 million) in a deal with a German court to end legal proceedings against its chairman and chief executive, who were accused of holding back market-moving information on rigged emissions tests.

Early data on Moderna's COVID-19 vaccine insufficient: Stat News

Data from a small, early-stage safety trial testing Moderna Inc's experimental COVID-19 vaccine does not provide critical data to assess its effectiveness, Stat News reported on Tuesday, citing experts.

Trump administration signs up new company to make COVID-19 drugs in U.S.

U.S. President Donald Trump's administration awarded a contract worth up to $812 million for a new U.S. company to manufacture drugs and drug ingredients to fight COVID-19 on American soil, aiming to end dependence on other countries.

Spotify new home for Joe Rogan's podcast, shares jump

Spotify Technology SA said on Tuesday comedian Joe Rogan's podcast will be available on the music streaming platform starting Sept. 1 and will become an exclusive later this year, sending shares 8% higher.

S&P stumbles as Moderna sinks on report questioning trial results

The S&P 500 closed lower on Tuesday, as investors focused on a report questioning Moderna's recent coronavirus vaccine early-stage trial results, wiping out modest gains on the benchmark index in the last hour of trading.

Mnuchin defends U.S. fiscal response to pandemic, seeks payroll loan extension

U.S. Treasury Secretary Steven Mnuchin on Tuesday defended the Trump administration's fiscal response to the coronavirus pandemic and told senators he was willing to consider extending and modifying a payroll loan program for small businesses.

Visa extends work-from-home for majority of employees through 2020

Visa Inc will allow a majority of its workforce to work from home through 2020, according to Chief Executive Officer Alfred Kelly Jr., mirroring similar moves from other fintech companies earlier in the week.

Elderly home turns to wearables for contact tracing, sidestepping Apple-Google limits

When a senior living facility in Amarillo, Texas suspected a nurse may have caught the novel coronavirus this month, it had a list within five minutes of staff and residents the nurse could have infected.

Trump floats halt to U.S. cattle imports as pandemic hurts ranchers

President Donald Trump said on Tuesday the United States should consider terminating trade deals under which it imports cattle as the federal government moves to help farmers hard hit by the coronavirus outbreak.

Trump wants payroll tax holiday to mitigate coronavirus economic pain: Kudlow

White House economic adviser Larry Kudlow said on Tuesday that President Donald Trump wants a payroll tax holiday for U.S. workers in the hopes of staunching economic pain caused by the coronavirus pandemic.

Ford requires visitors to wear masks but unclear if Trump will comply

Ford Motor Co on Tuesday reiterated its policy that all visitors to its manufacturing plants must wear a mask but said the White House will ultimately decide if U.S. President Donald Trump will comply during a planned visit this week.

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