Month: April 2020

Finance 

General Electric Q1 earnings 2020: Revenue down 8%

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General Electric on Wednesday reported a steep decline in first-quarter revenue as the industrial giant took a hit from the coronavirus pandemic. 

The company posted revenue of $20.524 billion, which represents a year-over-year decline of 8%. On an adjusted per-share basis, the company earned 5 cents. That was below a Refinitiv estimate of 8 cents per share. GE also suffered a $1 billion blow to its cash flow during the quarter. 

“The impact from COVID-19 materially challenged our first-quarter results, especially in Aviation, where we saw a dramatic decline in commercial aerospace as the virus spread globally in March,” CEO

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Economy 

Invitae acquire Clear Genetics for $50 Million

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Invitae acquire Clear Genetics for $50 Million

Clear Genetics equips patients with actionable information throughout the genetic testing process and provides guidance on understanding test results

U.S medical genetics company Invitae Corporation today announced that it has entered into a definitive agreement to acquire Clear Genetics, founded by Israelis Moran and Guy Snir, for $50 million.

Under the definitive agreement, Invitae will acquire Clear Genetics for aggregate consideration of approximately $50 million, approximately $25 million in cash and the remainder in shares of Invitae common stock.

Clear Genetics, a Y Combinator company, equips patients with actionable information throughout the genetic

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Biz News 

Singapore’s DBS bank posts 29% fall in first-quarter net profit

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The logo of DBS, Singapore’s largest bank.

Roslan Rahman | AFP | Getty Images

Southeast Asia’s largest bank, DBS, on Thursday said it set aside 1.09 billion Singapore dollars ($772.5 million) to cover potential losses from the coronavirus pandemic — which resulted in a 29% year-over-year fall in net profit in the first quarter. 

The Singaporean bank’s net profit fell to 1.17 billion Singapore dollars ($829.2 million) in January-March this year, down from 1.65 billion Singapore dollars ($1.17 billion) in the same period last year.

Unlike many banks around the world which have held back dividend payouts, DBS said

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Finance 

White House Unveils Plan to Reopen American Businesses

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Each state’s Governor, with guidelines from the POTUS, has a plan to reopen for business following the coronavirus pandemic response.

The reopening will happen in phases. The kick start will take place more quickly in places where COVID-19 cases appear to be under control.

Plan to Reopen American Businesses

What does that mean for your small business?

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The national plan puts the final responsibility in the hands of each state’s Governor. A national plan could not be applied with a broad brush. The 18-page plan is a guideline for Governors.

Each Governor will reopen the

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Economy 

Coronavirus sweeps Swiss cryptocurrency paradise

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Image by Pixabay

In the last decade, we have seen how countries around the world have tried to articulate large technological hubs that attract millions of euros in investment and jobs. The idea, to create a ‘hub’ that could be baptized as the ‘Silicon Valley’, although it was far from being considered as the great capital of world innovation. In the case of Switzerland, these efforts crystallized in what came to be called Crypto Valley, a kind of private institution, straddling the ‘lobby’ and the professional guild, which was born a few years ago to turn that country

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Biz News 

Black Michigan Healthcare Worker Dies After Being Denied Coronavirus Test Four Times

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COVID-19, or novel coronavirus, has overwhelmed most hospitals and treatment centers around the country. Now, one family is taking issue with a hospital’s negligence that led to the untimely death of their loved one who, they say, was denied testing.

Deborah Gatewood was a Michigan healthcare worker who recently died from coronavirus after being refused a test four different times at the Beaumont Hospital, Farmington Hills, where she worked for over 30 years.

Her daughter, Kaila Corrothers, told NBC News that the thing that bothered her the most about the entire situation was that her employer, Beaumont Hospital,

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Finance 

What The Future Might Hold For The Housing Market In 2020

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With the UK in lockdown until at least the end of the first week of May, and rumours that social distancing will need to be in place for the rest of the year, it’s difficult to know how the property market will be affected.

Prior to the outbreak of COVID-19, the UK property market was looking strong. Boris Johnson’s resounding victory in the December election is reported to have increased buyer appetite, and confidence in the London market was higher than ever. However, with the handbrake firmly on, how is the market expected to perform in 2020, and what does

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