Business

Alphabet Inc's Google said on Wednesday it had banned Zoom video conferencing desktop application from its employees' work laptops, citing security concerns.

Investors are betting on stocks to remain volatile well into the year, suggesting that many expect the long-term economic and public health impact of the pandemic caused by the novel coronavirus to continue roiling markets despite a recent rally.

U.S. stock markets climbed on Wednesday as investors were encouraged by hopeful signs about the coronavirus outbreak in the United States, with health insurers getting an additional boost from the announcement that Democratic presidential candidate Bernie Sanders was suspending his campaign.

The forced closure of businesses across the United States and surge in unemployment due to the coronavirus pandemic will force U.S. growth to contract by 30% in the second quarter and 5% overall in 2020, Pacific Investment Management Co (PIMCO) wrote on Wednesday.

Nasdaq Inc is hopeful initial public offerings will pick up in the second half of 2020, but much depends on how well companies and investors emerge from the coronavirus pandemic, the head of the exchange operator said on Wednesday.

The U.S Justice Department on Wednesday recommended U.S. regulators approve Alphabet Inc unit Google's request to use part of an U.S.-Asia undersea telecommunications cable after the company warned it would face significantly higher prices to carry traffic by other means.