Technology News

U.S. bank investors put on mute as shareholder meetings go virtual

(Reuters) – Often rowdy and confrontational, this year’s bank shareholder meetings have so far been brief and uneventful as the annual gatherings move online amid U.S. coronavirus lockdowns.

FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri

The shift is a welcome reprieve for the senior executives who field combative questioning or disruptive protests from shareholders and activists over business decisions. In 2018, JPMorgan Chase & Co (JPM.N) Chief Executive Jamie Dimon said the demonstrations had made the meetings a “complete waste of time.”

But the change worries advocacy groups and retail investors for whom the meetings offer a rare chance to engage with bank leadership on critical corporate governance issues such as pay, diversity and sustainability.

“It’s the once-a-year opportunity to engage with directors who are overseeing management and… to do

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China’s BYD, Toyota’s Hino partner in electric commercial vehicles

FILE PHOTO: The logo of China’s BYD, is seen on an electric bus, as part of the new fleet of electric buses for public transport in Santiago, Chile November 28, 2018. Picture taken November 28, 2018. REUTERS/Rodrigo Garrido

BEIJING/TOKYO (Reuters) – Chinese electric vehicle maker BYD (002594.SZ) said on Thursday it has partnered with Toyota-owned truck maker Hino Motors (7205.T) to develop electric commercial vehicles, as BYD deepens electric collaboration with Japan’s top automaker.

The partnership will focus on electric buses and trucks, in addition to BYD and Toyota’s (7203.T) joint development on electric passenger cars.

Shenzhen-based BYD, which is backed by U.S. investor Warren Buffett, has been building electric commercial vehicles including London’s electric double-decker buses and electric road sweepers in Beijing.

Hino has been developing battery electric trucks but so far has yet to bring a fully electric model to market.


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Germany at odds with Apple on smartphone coronavirus contact tracing

BERLIN (Reuters) – Germany has chosen a home-grown technology for smartphone-based tracing of coronavirus infections, putting it at odds with Apple which has refused on privacy grounds to support the necessary short-range communication on iPhones.

FILE PHOTO: People wearing protective face masks use a smartphone on a street amid coronavirus (COVID-19) concerns in Kiev, Ukraine March 17, 2020. REUTERS/Valentyn Ogirenko

The government has told lawmakers it has chosen a design developed for the Robert Koch Institute – the agency leading Germany’s coronavirus health response – that would hold personal data on a central server.

Countries around the world are rushing to launch digital contact tracing apps to identify who an infected person has had contact with as part of efforts to slow the spread of the pandemic.

In Europe, governments want to use Bluetooth ‘handshakes’ between devices as a way to measure the risk of infection, but approaches differ as

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Apple supplier LG Display posts wider first-quarter loss as pandemic dents demand

SEOUL (Reuters) – Apple Inc supplier LG Display Co Ltd warned of a sharp contraction in demand for TVs and smartphones as a result of the new coronavirus outbreak in the current quarter, after widening its first-quarter losses.

FILE PHOTO: A man walks out of the headquarters of LG Display in Seoul, October 20, 2011. REUTERS/Jo Yong-Hak/File Photo

The South Korean panel maker posted its fifth straight quarter of operating losses, as the coronavirus pandemic added to the problems of the industry already grappling with demand falls and a supply glut.

LG Display posted an operating loss of 362 billion won ($294.70 million), better than Refinitiv SmartEstimate’s 390 billion won loss, but nearly triple the operating loss of 132 billion won a year earlier.

Revenue fell 20% to 4.7 trillion won.

LG Display said an increase in working from home and online activities meant demand for products such as monitors,

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