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Traffic to be reduced by Netflix in the coming years

Netflix has said that the streaming giant is going to deploy a way of reducing its traffic on the networks particularly in Spain and Italy by 25% on this Saturday has said that it is going to be doing the same in the other areas of Europe in the coming two days. Netflix is going to be removing the highest stream of bandwidth in the resolution categories for the coming one month in Europe where the users are going to be experiencing a little decrease in the video quality within every category.

The company has said that the goal is simple for maintaining quality of service for the members while they have been supporting the ISPs who have been facing the strain on networks which is not seen before as the company has been saying so.

Netflix has said that it is going to be adhering to the normal procedures for the other networks unless and until they experience their own issues.

The largest service for media streaming in the world has been on Thursday saying that it is going to be reducing the bit rates all over the streams in the regions of Europe and in effect curtailing the traffic on the networks in Europe by 25% for the preservation of smoother functioning of the internet in the times of the coronavirus crisis.

While the partners in region of Latin America are trying to reduce their bandwidth, the others want to go on with business as usual. Netflix has said this as they have close to 42 million subscribers in the region of Africa, Middle East and Europe for the first quarter of the year 2019.

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The price war has been plunging again as there is a price war

The prices of oil have again plunged as there is a price war which has been going on between Russia and Saudi Arabia while the stock market losses had been accelerated after the governor of New York had ordered the workforce of the state to stay home. This was done to prevent the pandemic of coronavirus from spreading and the conditions worsening in the city which has already been hit severely.

The Dow Jones had been falling by close to 2.2% which was close to the 500 points on this Friday, while S&P 500 had dropped the 2.5 % and Nasdaq Composite which had lost the 2%.

The Dow had fallen by over 17% in the week. This is the worst week which has been there since the year 2008 crisis of the financial crisis and even worse than sell off of the last week while the S&P 500 had lost more than 13% and the NASDAQ more than the 10%

The Dow has currently is sitting at the level of 19,174 below levels where it had been when Trump had inaugurated it at 19,827. This means that each of the stock market gains in the presidency of Trump which has been touted by him as a result of the leadership have been wiped of completely.

It has indeed been a week which is unprecedented for the volatility of the market with the massive swings daily in both of the directions. The index has been gauging the fear on the Wall Street which has been posting their highest close ever.

There were slight gains when the market opened on this Friday as the stocks fell after the slate of the news, there was a statewide order of stay at home.

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Testing increases in United States which leads to more cases

The cases of coronavirus have been spreading in the United States as the coronavirus has infected over 300,000 people all over the world. A lot of people have been instructed to stay home by state orders and avoid each other to prevent the spread of the coronavirus as the lawmakers and administration at the White House comes up with the stimulus packages which is now expected to be reaching $2 trillion. This has come as the stock markets have crashed continuously and its intensity has been increasing with S&P 500 and Dow Jones suffering the worst of their weekly losses since the year 2008. There are many companies which include the strongest ones which have come to a screeching halt.

 The cases of coronavirus have surged in the United States by 5403 cases to a level of 24,786. This is up from the level of 2,830 on the 14th of March and 401 on the 7th of March as the deaths have climbed to 290 in the United States.

 A large part of the rise has been confirmed for the cases is due to the testing increase in people.

Testing is going to be continuing to be ramped up in many coming weeks as the private labs and the tests surge. On Saturday, the FDA gave an approval to the Cepheid Test which is able to produce the results in only 45 minutes. These tests go on running over 23,000 machines which include close to 5,000 in the Danher unit of Cepheid. New York itself has over 11,600 cases with most of them being in the New York City. The developments have been positive in the Washington State.

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Mismatch in demand and supply as per Uber

There is a major mismatch when it comes to the overall supply and demand and has asked everyone to alleviate the financial strains of every person.

What has been driving the news is the CEO of Uber, Dara Khosrowshahi who has told his investors that the business of ride hailing where it is an international giant had seen a drop by as much as 60-70 % in the region of Seattle in the year so far in comparison to the same period in the year 2019. Earlier in the month, Uber had said that it is going to be compensating its drivers for close to 14 days in case they are diagnosed with the Coronavirus or if they ask for self-isolation or quarantine since they do not have the paid time off as they are considered to be independent contractors. There are similar compensations which are offered by Lyft, Instacart and a few others.

This has left many of the drivers very worried and also extremely frustrated as they are going to have to work for the generation of income and fulfill the demand for consumers in spite of being at a risk of getting infected by these passengers. Lyft has announced that it is going to be offering the on-demand delivery of the medical supplies and the meals to seniors for providing a lot more work for these drivers. This is because the transactions are contract less and they will be safer somehow

There are other firms which are making similar attempts to balance their act as they see a surge in the demand as people are staying home and away from any restaurants or other places.