The Facebook stock surged to a new all-time high of $230.75 on Wednesday after the company launches a new feature called Shops, a virtual mall designed to help businesses suffering during COVID-19. “This is the biggest step we have taken yet to enable commerce across our apps,” Facebook CEO Mark Zuckerberg said.
On Monday, FedEx (FDX) and Microsoft (MSFT) announced a multi-year collaboration that will combine FedEx’s logistics capabilities with Microsoft’s cloud technology. The shares of FedEx jumped 10.85% on Monday after the announcement.
Moderna, Inc. (NASDAQ: MRNA), an American biotechnology company, working on developing a vaccine, announced on Monday that the early results from the vaccine were promising from its first human trial. The company said it is launching a large clinical trial in July to determine whether the vaccine works.
After seven weeks of lockdown UK gradually lifts lockdown & returns to work. As of Wednesday, the UK recorded 33,186 deaths from COVID-19. Recently a new antibody test has been approved in the UK – the government expects this could be the key to easing the complete lockdown. On Wednesday, the UK government announced 600 million pounds ($735 million) in funding to stop coronavirus infections in nursing homes.
UK economy contracted its biggest fall since the 2008 financial crisis in the January-March period, with March GDP falling by a record pace due to the coronavirus pandemic. The GDP dropped 5.8% in March, the biggest monthly fall since the series began in 1997. While quarterly GDP beat projections, falling by 2% instead of the expected contraction of 2.5%.