News Highlights: Top Company News of the Day
March 30 2020 - 11:30PM
Dow Jones News
Virgin Australia Seeks $863 Million Bailout From Government
Airlines around the world are seeking government assistance
after many countries closed their borders to foreign visitors,
choking off their revenue while leaving carriers with fixed costs
such as leases for planes.
Disney Chairman Iger, CEO Chapek to Take Pay Cuts
Walt Disney said Chairman and former CEO Robert Iger has agreed
to forgo most of his salary while his successor, CEO Bob Chapek,
along with several executives, will take pay cuts amid the
coronavirus pandemic.
Some Instacart and Amazon Workers Stay Home, Calling for More Pay in Coronavirus Pandemic
Some delivery and supermarket workers at Instacart and
Amazon.com are staying home to draw attention to their requests for
better pay and more protections against the risks of infection with
the new coronavirus.
GM Hustles to Pump Out Ventilators to Fight Coronavirus
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.
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.
Macy's, Gap to Furlough Most Workers
The retailers will furlough the majority of their store workers,
highlighting the limits of the $2 trillion rescue package for U.S.
businesses that have been cut off from their customers.
Blackstone's Shale Driller Gavilan Prepares for Debt Restructuring
Blackstone Group's shale driller Gavilan Resources is preparing
a potential bankruptcy filing over the plunge in commodity prices
and an unresolved dispute with Sanchez Energy, people familiar with
the matter said.
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.
BroadVision Files for Chapter 11 With a Buyer
BroadVision Inc., a publicly traded company that provides a
suite of business apps, filed for bankruptcy protection on Monday,
saying the recent shutdown of the economy had exacerbated its
liquidity problems and would continue to do so.
(END) Dow Jones Newswires
March 30, 2020 23:15 ET (03:15 GMT)
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