Coronavirus: Cadillac halts debut of all-electric Lyriq over fears of coronavirus

Coronavirus: Cadillac halts debut of all-electric Lyriq over fears of coronavirus

- The global spread of the coronavirus has compelled General Motors to halt the release of the Cadillac SUV known as the Lyriq

- The car was expected to be released on April 2, 2020 at Los Angeles in the United States of America

- According to General Motors, the decision was taken because it was concerned about the health and safety of stakeholders

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Car manufacturing company, General Motors, has stopped plans for the release of its all-electric mid-sized Cadillac SUV known as Lyriq on April 2, 2020 in Los Angeles, United States of America (USA).

The coronavirus, since its outbreak, has affected a wide range of business activities all over the world.

Information available shows that it is also led to the cancellation of a number of important events all over the world.

READ ALSO: Apple to delay the release of 5G iPhones over fears of coronavirus

Per a report by techcrunch, General Motors announced that it has decided to cancel the event out of the abundance of caution.

It indicated that the coronavirus has led to a state of emergency in several states in the USA as the number of cases continues to rise.

General Motors went on to say that it is currently evaluating plans for the future and would soon release an update on its decision.

It also noted that its top priority has always been keeping its media guests and employees safe and in that regard, it is working with GM Medical and Security to monitor the situation closely.

The company also stated that it has also been following the recommendations for the U.S. Centers for Disease Control and the World Health Organization.

In other news, the Coalition of Aggrieved Customers have called on the government to ensure that their deposits are released in a maximum of two weeks.

According to them, they would have no option than to embark on a demonstration if their demands are not met.

READ ALSO: Oil prices fall as coronavirus forces Saudi Arabia to start a price war

The group indicated that the government has refused to implement measures to ensure the payment of deposits to their customers following the financial sector clean-up.

In an address to the media, the coalition’s public relations officer, Charles Nyame, stated that the government has till Tuesday, March 24, 2020, to settle all outstanding payments.

In 2019, the Securities and Exchange Commission (SEC), revoked the licenses of 53 fund management companies.

This, per a citibusinessnews.com report, was as a result of a series of regulatory breaches discovered with regard to their operations.

Information available shows that the companies affected by SEC's decision were managing over GHC8 billion in assets.

It has been established that some of the collapsed fund management companies had locked up funds in savings and loans, as well as other financial institutions that were shut down by the Bank of Ghana (BoG).

As a result, they were therefore not in the position to meet demands for funds by investors.

READ ALSO: Jeff Bezoz loses $18 billion as fears of coronavirus causes economic meltdown

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