Nissan plans $2.8 billion in cuts as part of restructuring plan: Bloomberg

spike

FILE PHOTO: A Nissan logo is pictured at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su

TOKYO (Reuters) – Nissan Motor Co (7201.T) plans to cut $2.8 billion in annual fixed costs as part of its restructuring plan, Bloomberg News reported on Wednesday, as it braces for a drop in sales that could complicate its recovery from years of poor profitability.

Following a three-year spell of tumbling profits, Nissan will announce its restructuring plan on May 28, its latest attempt to slash costs after a strategy of aggressive selling to chase market share has

Read More

Mike Bloomberg is developing mobile apps to help New York state trace coronavirus cases

spike

Former New York City Mayor Michael Bloomberg is developing three smartphone apps to help New York state trace every person who comes into contact with someone infected with Covid-19 cases to help control the spread of the virus. 

Contact tracing requires scores of people to interview coronavirus patients and track down all of their contacts over the past 14 days so those people can be notified, tested and quarantined. 

The team, led by Bloomberg, is partnering with the health-care nonprofit Vital Strategies to develop the three new smartphone apps. The first app will help contact tracers find information and data

Read More

Tesla is calling some workers back to California factory: Bloomberg News

spike

FILE PHOTO: The view of Tesla Inc’s U.S. vehicle factory which was open for business on March 18, despite an order by the Alameda county’s sheriff’s office to comply with a three-week lockdown in the San Francisco Bay Area, in order to rein in the spread of coronavirus disease (COVID), in Fremont, California, U.S., March 18, 2020. REUTERS/Shannon Stapleton

(Reuters) – Tesla Inc (TSLA.O) is calling some workers back to its San Francisco Bay Area vehicle-assembly plant next week, Bloomberg News reported on Saturday.

Tesla had suspended production at its Fremont, California plant on March 24. The company

Read More

U.S.’s Mnuchin considers lending program for struggling oil companies: Bloomberg News

spike

FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin answers questions during the daily coronavirus task force briefing at the White House in Washington, U.S., April 21, 2020. REUTERS/Jonathan Ernst

(Reuters) – Treasury Secretary Steven Mnuchin said he is considering a government lending program for U.S. oil companies looking for federal aid as they cope with a devastating plunge in prices, Bloomberg News reported on Thursday.

Oil prices have crashed as demand has shrunk due to lockdowns during the coronavirus pandemic.

“One of the components we’re looking at is providing a lending facility for the industry. We’re looking at a lot of

Read More