Luckin Coffee Sees Unprecedented Surge in Demand

Luckin Coffee Sees Unprecedented Surge in Demand
April 7, 2020

Luckin Coffee’s app has boost rocketed to become the second hottest in China as consumers rushed to say a free drink that it has long provided for downloading, worried the chain would possibly fall after it said much of its sales in 2019 were fabricated. The coffee chain’s app often ranks between the 70th and 100th hottest free app downloads for users of Apple’s iOS operating system in China, based…

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London’s Underwriters Adapt to Work from Home as Enterprise Shifts Online

London’s Underwriters Adapt to Work from Home as Enterprise Shifts Online
March 30, 2020

Thousands of London’s underwriters took their fountain pens and stamps home last week, which they utilize to sign insurance contracts; however, they won’t need them. Working at home because of the coronavirus shutdown, they’ve deserted the conventional tools of their business and are turning to email and other digital systems to agree on terms with the brokers who put business their way. It’s a huge shift from a typical day…

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Emirates Reverses Decisosn to Cancel Passenger Flights

Emirates Reverses Decisosn to Cancel Passenger Flights
March 23, 2020

Dubai carrier Emirates reversed Sunday its decision to cancel all passenger flights, shortly after it stated it would pause operations from March 25 amid the novel coronavirus pandemic. The airline stated it “received requests from governments and customers to support the repatriation of travelers” and will proceed with operating passenger flights to 13 destinations, down from its standard 159. Emirates will continue to fly to the U.K., Switzerland, Hong Kong, Thailand,…

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Ted Baker’s 38% of RETAIL Sales Dented Due to Coronavirus Pandemic

Ted Baker’s 38% of RETAIL Sales Dented Due to Coronavirus Pandemic
March 20, 2020

Troubled vogue retailer Ted Baker stated Friday it has closed businesses that accounted for some 38% of its international retail sales in 2020 due to the coronavirus pandemic. It has shut 197 retail outlets and concessions out of 416 locations worldwide with full closure in the U.S., Canada, Spain, France, Germany, Portugal and Belgium. In other markets, the retailer stated it was going through reduced trading hours; however, it added…

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Abbot Wins FDA Approval for New Coronavirus Testing Kit

Abbot Wins FDA Approval for New Coronavirus Testing Kit
March 19, 2020

The U.S. Food and Drug Administration (FDA) Wednesday granted Abbott Laboratories approval to sell a test for the novel coronavirus, as more firms start producing much-needed diagnostics for the pathogen that has ignited a global pandemic. The tests will help meet a significant U.S. shortfall of diagnostic capabilities that has severely limited the nation’s ability to track the spread of COVID-19. The rise in U.S. cases of the novel coronavirus,…

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EnCap Withdraws Stakes in U.S. Shale as Market Situation Worsens

EnCap Withdraws Stakes in U.S. Shale as Market Situation Worsens
March 16, 2020

Energy investor EnCap Investments withdrew a stake in the U.S. shale business this month. The $2.5 billion sale of oil producer Felix Energy to competitor WPX Energy, reaching a contract at a time when energy mergers have all but dried up. EnCap’s big payday, 153 million WPX shares worth $1.6 billion-plus $900 million in cash, proved short-lived as tanking oil and stock markets shed about two-thirds off the worth of…

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TikTok Owner Zhang Yiming Set to Share Global Stage with U.S Tech Giants

TikTok Owner Zhang Yiming Set to Share Global Stage with U.S Tech Giants
March 13, 2020

The founder of China’s ByteDance, CEO of the wildly successful TikTok application, has for years aspired to make ByteDance the first Chinese agency to contest U.S. internet titans on the global stage. On Thursday, Zhang Yiming made a crucial move to achieve that. Generating new leadership positions for ByteDance’s China business, Zhang stated in a letter to employees he would now concentrate on global growth and fresh initiatives such as…

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U.S. Regulator Does Not Support Boing’s Proposal to Avoid MAX Wiring Move

U.S. Regulator Does Not Support Boing's Proposal to Avoid MAX Wiring Move
March 9, 2020

Boeing’s bid to leave wiring bundles in place on the grounded 737 MAX has not won the support of U.S. aviation regulators, a person briefed on the matter said.   In February, Boeing told the Federal Aviation Administration (FAA) it does not believe it must separate or shift wiring bundles on its grounded 737 MAX jet that governors have warned could short circuit with catastrophic consequences. The source stated the…

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U.S. Congress Assigns $8.3 Billion Emergency Funds for Coronavirus Care

U.S. Congress Assigns $8.3 Billion Emergency Funds for Coronavirus Care
March 5, 2020

Congress Wednesday approved $8.3 billion in emergency funding to respond to the spreading novel coronavirus, which has already infected 80 people across 13 states and killed nine in the U.S. alone. Over $3 billion of that investment will go to the R&D of vaccines, therapeutics and diagnostics — and some will likely go into the corporations working on technologies to fight the disease. Additional $2.2 billion will fund the Centers for…

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British Domestic Carrier Flybe Enters into Administration as it Fails to Bear Plunging Demand

British Domestic Carrier Flybe Enters into Administration as it Fails to Bear Plunging Demand
March 5, 2020

British regional airline Flybe stated early Thursday it entered into administration, as the already struggling carrier didn’t face up to the fall in travel demand caused by the coronavirus. The airline’s failure puts 2,000 jobs in danger and causes trouble for PM Boris Johnson and his plan to lift local transport links. A UK government spokesperson stated the federal government was working closely with the airline sector to reduce any disruption…

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