News Highlights: Top Company News of the Day
April 02 2020 - 3:30AM
Dow Jones News
European Corporate Roundup: Bouygues, Bunzl Latest to Withdraw Guidance
Bouygues and Bunzl are the latest European firms to withdraw
their 2020 guidance and cancel dividends due to the effects of the
coronavirus pandemic on their businesses.
SoftBank Group Abandons Tender Offer for WeWork Shares
SoftBank Group Corp. has terminated a tender offer to buy up to
$3 billion worth of WeWork shares held by other major shareholders
because certain conditions weren't met.
Boeing to Offer Early Retirement, Buyouts as Coronavirus Takes Toll
Boeing is expected to begin offering early retirement and buyout
packages to its workforce as the plane comes to grips with the
coronavirus pandemic's toll on the global aviation industry.
U.S. Sues to Unwind Altria's $12.8 Billion Investment in Juul
The Federal Trade Commission is suing Altria Group to unwind its
$12.8 billion investment in Juul Labs, accusing the Marlboro maker
of violating federal antitrust laws when it took a stake in the
e-cigarette maker.
Treasury Department Selects Wall Street Banks to Advise on Airline Aid
The Treasury Department plans to hire three Wall Street banks
for advice on doling out tens of billions of dollars in aid to the
airline industry, which is hemorrhaging cash as a result of the
coronavirus pandemic.
Toshiba Is Ready to Weather the Covid-19 Storm After Makeover, CEO Says
EXCLUSIVE: Toshiba's underlying earnings nearly doubled, due
largely to a portfolio makeover and cost-cutting that will also
help it weather economic shocks caused by the coronavirus pandemic,
its chief executive said.
RBNZ Tells New Zealand Banks to Suspend Dividends
The Reserve Bank of New Zealand has told the country's largely
Australian-owned banks to suspend dividends, aiming to maintain
high capital levels as the economy reels from the coronavirus
pandemic.
Coronavirus Puts Private-Equity-Backed Restaurants and Their Workers in Limbo
Private-equity firms flush with cash bought up a number of
restaurant chains over the past decade. Now, these investments are
coming under pressure as states across the country order the
closures of dine-in restaurants to contain the spread of the
coronavirus.
Booming Interest in Zoom Cocktail Hour Comes With Corporate Hangover
Zoom Video Communications' newfound popularity amid the
coronavirus pandemic is proving both a boon and a burden.
AT&T Names Former Hulu Boss as WarnerMedia CEO
Jason Kilar will take the helm at the unit housing HBO and CNN
when it is on the verge of launching a new streaming service.
(END) Dow Jones Newswires
April 02, 2020 03:15 ET (07:15 GMT)
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