News Highlights: Top Company News of the Day
March 30 2020 - 1:30PM
Dow Jones News
Bank of New York Mellon Names Gibbons CEO, Removing Interim Tag
Bank of New York Mellon Corp. said it named Todd Gibbons as
chief executive. He has been interim CEO since last fall.
GM Hustles to Pump Out Ventilators to Fight Coronavirus Amid Trump Barbs
When President Trump last week criticized General Motors' effort
to produce ventilators, executives were flabbergasted. GM began
collaborating with a ventilator company a couple of weeks earlier,
and has mobilized more than 1,000 employees and nearly 100 auto
suppliers for the task.
Macy's to Furlough Most Workers
The retailer will furlough the majority of its employees
beginning this week as sales have evaporated while its stores
remain closed due to the coronavirus.
Johnson & Johnson to Begin Human Trials of Covid-19 Vaccine by September
Johnson & Johnson said that it had made progress on a
vaccine to prevent Covid-19 and that the product could be ready in
early 2021.
Pier 1 Imports Cancels Bankruptcy Auction as Coronavirus Chills Potential Bids
Pier 1 Imports has canceled an auction to sell itself out of
chapter 11 as senior lenders opted to take ownership of home-goods
retailer, the latest corporate bankruptcy to be upended by the
coronavirus pandemic.
Pressure Mounts on Insurance Companies to Pay Out for Coronavirus
Lawmakers and regulators are pressuring insurers to go beyond
the legal language of policies to get cash to Americans amid the
mounting cost of shutdowns from the coronavirus pandemic.
Medtronic Publishes Design Specs for Ventilator to Combat Coronavirus
Medtronic Plc said it would publicly share the design
specifications for a ventilator product to allow other companies to
explore producing it rapidly to help meet demand driven by the new
coronavirus.
Exor Nears $200 Million Investment in Ride-Share Company Via
Exor, the holding company of Italy's Agnelli family, is nearing
an investment in New York ride-sharing company Via Transportation
that would mark its first big foray into the technology sector.
Facebook Pledges $100 Million for News Outlets Hit by Coronavirus Outbreak
The tech giant is pledging $100 million in grant money and
promised ad spending to help struggling news outlets weather the
financial blow of the coronavirus outbreak.
Loss of Live Sports Changes ESPN's Marketing Plans
Walt Disney Co.'s ESPN has had to significantly revamp its
programming with the loss of live sports during the coronavirus
pandemic, and now it's altering its marketing as well.
(END) Dow Jones Newswires
March 30, 2020 13:15 ET (17:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.