Xerox Is Ending Hostile Takeover Bid for HP

Xerox is pulling the plug on its hostile bid to buy larger rival HP after the coronavirus pandemic undermined the copier maker's ability to pull off the debt-laden merger.

BP said it's cutting planned investments by a quarter this year and expects its oil and gas production to fall due to the coronavirus pandemic.

 
European Corporate Roundup: Pirelli Secures New Credit Line

Italy's Pirelli said it has secured a new EUR800 million credit facility that it will use to repay existing debt.

 
Dozens of Whole Foods Workers Skip Work but Stores Are Unaffected

Dozens of workers at Whole Foods Market stores across the U.S. skipped their shifts to call attention to demands for better pay and more safety measures to protect them during the coronavirus pandemic, according to a group that organized the action. Business continued as usual at the chain, which employs more than 95,000 people.

 
Bankrupt Restaurant Operator CraftWorks Fires Nearly All Its 18,000 Workers

CraftWorks Holdings, which had planned to sell itself out of bankruptcy before the pandemic's crushing impact on consumer activity, fired the bulk of its workforce on Tuesday and terminated employee-benefit plans.

 
Airlines Seeking Federal Aid Can't Share Flights

Initial rules governing airlines' access to federal aid require carriers to maintain certain levels of service and won't allow any coordination that would violate antitrust strictures.

 
Europe's Banks Urged to Cut Dividends to Shore Up Capital

European banks are shoring up capital by canceling or delaying dividend payments amid concern about their ability to absorb a potential rush of bad loans as households and companies are impacted by the coronavirus pandemic.

 
Dairy Co-Op's $433 Million Bid Wins Dean Foods Bankruptcy Auction

Milk processor Dean Foods named Dairy Farmers of America's $433 million bid as the winner at a bankruptcy auction for most of Dean's assets, a step toward potentially uniting the two dairy giants.

 
Marriott Reveals Breach That Exposed Data of Up to 5.2 Million Customers

Marriott International is investigating a data breach that exposed up to 5.2 million customers' personal information, at least the third cyber incident for the hotel giant in the past 18 months.

 
Apple Commits to Paying Contractors

The tech giant said it plans to pay its hourly contract workers after some janitors at their Silicon Valley campus were told their jobs were being suspended without pay.

(END) Dow Jones Newswires

April 01, 2020 07:15 ET (11:15 GMT)

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