Technology

Siemens is preparing for a prolonged economic trough triggered by the COVID-19 pandemic, Chief Executive Joe Kaeser told CNBC on Friday after releasing fiscal second-quarter results.

Siemens Chief Financial Officer Ralf Thomas said the moderate sales decline expected by the German industrial company for its 2020 business year would mean a decline of up to 5%.

German industrial company Siemens is accelerating its cost-savings programme to deal with the impact of the coronavirus pandemic, Deputy Chief Executive Roland Busch said on Friday.

India's Reliance Industries Ltd on Friday announced a $1.5 billion stake sale in digital unit Jio Platforms, a third deal in a little over two weeks that will inject a combined $8 billion in the telecoms-to-energy group to help it pare debt.

Siemens on Friday said it expected "even stronger impacts" from the coronavirus pandemic in the weeks ahead as it ditched its 2020 guidance and posted an 18% drop in industrial profit during its second quarter.

Samsung Group heir Jay Y. Lee's vow to end dynastic succession at South Korea's biggest conglomerate following three generations of family control sparked skepticism in some quarters and worry in others for the future of the country's corporate champions.

Lyft will require both passengers and drivers to wear masks and complete a health certification program, including confirming before each ride that they are not displaying symptoms associated with the novel coronavirus, the company said on Thursday.

Zoom Video Communications Inc pushed forward on Thursday in its effort to revamp its security, striking a deal with the New York attorney general's office to protect users' privacy and purchasing secure messaging startup Keybase.

Uber Technologies Inc's ride service bookings slowly recovered in recent weeks as the company expects a coronavirus-related slowdown will delay the goal of becoming profitable by a matter of quarters, not years, Chief Executive Dara Khosrowshahi said on Thursday.

Roku Inc said it expects 2020 ad sales to grow at a slower pace and recorded higher cancellations in the first quarter as advertisers save cash amid the COVID-19 pandemic, sending its shares down 10% in extended trading on Thursday.

California has set rules to allow state manufacturers to begin reopening on Friday from a coronavirus lockdown, Governor Gavin Newsom said, drawing an enthusiastic "Yeah!!" on Twitter from Tesla Inc Chief Executive Elon Musk.

Uber Technologies Inc's ride service bookings rose last week and the company expects a coronavirus-related slowdown will delay the goal of becoming profitable by a matter of quarters, not years, Chief Executive Dara Khosrowshahi said on Thursday.

Alphabet's Sidewalk Labs has pulled the plug on its Toronto "smart city" project, citing "unprecedented economic uncertainty" in a setback for the city's long-planned waterfront revitalization.

Roku Inc posted a bigger net loss in the first quarter on Thursday, as the video streaming device maker spent more to attract subscribers to its free ad-supported channel, sending its shares down 7% in extended trading.

Tesla Inc Chief Executive Elon Musk said in a podcast interview released on Thursday that the company's planned Roadster sports car would take a backseat to the development of other vehicle models.

Dropbox Inc's quarterly revenue and profit beat Wall Street estimates on Thursday, as the file-hosting company signed up more paying customers on its platform with people shifting to remote work due to the COVID-19 pandemic.

Amazon plans to extend the closure of its French warehouses until May 13 included, the e-commerce giant said on Thursday.

A European coalition is forming around an approach to using smartphone technology to trace coronavirus infections that, its backers hope, could help to reopen borders without unleashing a second wave of the pandemic.

Alphabet's Sidewalk Labs has pulled out of its Toronto "smart city" project due to economic uncertainty, the subsidiary's chief executive officer said on Thursday.

Dido Harding, the former chief executive of internet provider TalkTalk, has been appointed by the British government to head its coronavirus test and trace programme with responsibility for overseeing contact tracing.