Farm, tech shares lead strong rally

COVID-19 recovery hopes, sustained economic confidence lift sentiment Share prices in Chinese mainland bourses rose on Tuesday on rising COVID-19 recovery hopes and increased confidence about the domestic economy, with agricultural and technology firms in the limelight. The benchmark Shanghai…

Smartphone makers unfazed by rising international challenges

Chinese smartphone makers may face short-term challenges due to the novel coronavirus lockdowns but demand for their cutting-edge devices remains robust globally over the long term, industry experts said on Tuesday. Wang Xiang, president of Xiaomi Corp, said the company’s…

QR codes becoming ubiquitous amid epidemic

What’s in a QR code? Lots of things: a link to an advertisement, your digital wallet or maybe access to a doctor’s appointment. But the two-dimensional digital square ubiquitous to Chinese internet users is also playing a growing role in…

China’s foreign exchange reserves fall 1.5% to $3.06 trillion in March

China’s foreign exchange reserves fell for the second consecutive month in March to $3.06 trillion, as the value of reserves in other currencies fell due to the global financial market turmoil and decline in oil prices amid the novel coronavirus…

‘Pharma Bro’ Shkreli wants out of prison to research coronavirus

Convicted former drug company CEO Martin Shkreli, known as “Pharma Bro,” wants to get out of prison so he can help research a treatment for the coronavirus, his lawyer said Tuesday. Defense attorney Ben Brafman said that he will file…

Pulp friction: Border jams delay supply of toilet paper’s only ingredient

LONDON/BENGALURU (Reuters) – As several European borders limit travel to stop the spread of COVID-19, two of the world’s biggest pulp makers say transportation logjams are delaying shipments of the raw material – the only ingredient in the toilet paper…

Wobbly U.S. fiscal response could deepen coronavirus recession

WASHINGTON (Reuters) – The U.S. government’s massive effort to nurse the economy through the coronavirus crisis was billed as a send-money-and-don’t-sweat-the-details flood of cash to people and businesses in a $22 trillion system that has ground to a halt. So…

Australia’s Treasury Wine, to cope with virus, weighs Penfolds demerger, U.S. cutback

SYDNEY (Reuters) – Australia’s Treasury Wine Estates Ltd (TWE.AX) said it may spin off the prestigious Penfolds label and shrink its low-end “commercial” division in the United States as it seeks ways to grow profit amid upheaval brought by the…

Tesla to furlough workers, cut employee salaries due to coronavirus

(Reuters) – Tesla Inc (TSLA.O) told employees on Tuesday it would furlough all non-essential workers and implement salary cuts during a shut down of its U.S. production facilities because of the coronavirus outbreak. Tesla said it planned to resume normal…

Right-wing media suggests coronavirus death toll is inflated, despite experts saying the opposite

New York (CNN Business)A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Some of the biggest names in right-wing media are questioning the official Covid-19 death toll. Indeed, they’re…