News Highlights: Top Company News of the Day
April 03 2020 - 1:15PM
Dow Jones News
Ernst & Young Says It First Found Accounting Issues at Luckin
The accounting firm said it uncovered the problems at China's
Luckin Coffee, which have hammered the Starbucks challenger's stock
and cast doubt over a large part of the company's sales last
year.
3M, Under Attack From White House, Pushes Back
The company said it would work with the U.S. to implement the
Defense Production Act and responded to criticisms that it was
favoring other, higher-paying countries with the distribution of
its masks.
JPMorgan Seeks Full Ownership of Chinese Fund-Management Venture
JPMorgan Chase said it plans to seek full ownership of its
Chinese fund-management joint venture, opening a path to becoming
the first foreign firm to do so in China's asset-management
industry.
Local TV Sees Spike in Viewers, Drop in Ads in Coronavirus Crisis
Local television stations are experiencing a rare surge in
viewership as more Americans tune in for coronavirus updates. But
the stations are unlikely to benefit financially because of a
cutback in advertising spending.
Marlboro Owner's Antitrust Case Adds to the Burn
Altria's fraught investment in e-cigarette company Juul Labs
will take even longer to redeem following a challenge by the
Federal Trade Commission.
Google Offers User Location Data to Health Officials Tackling Coronavirus
Google will help public health officials use its vast storage of
data to track people's movements amid the coronavirus pandemic, in
what the company called an effort to assist in "unprecedented
times."
European Insurers Hit After Regulator Asks for Dividend Halt
The EU's insurance regulator has asked insurers and reinsurers
in the region to temporarily suspend dividends and consider a
postponement of bonuses amid the coronavirus pandemic, knocking
stocks across the sector.
GE to Furlough Thousands of U.S. Aviation Workers Due to Air Travel Slump
General Electric Co. is furloughing half of the U.S.
manufacturing workers in its jet-engine business for four weeks,
citing growing pressure on the global aviation industry from the
coronavirus pandemic.
Industrial Suppliers Under Pressure As Coronavirus-Driven Demand Surges
Manufacturers and distributors of masks, gloves and sanitary
supplies say they're making difficult choices about where to ship
limited inventories as unprecedented demand stemming from the
coronavirus pandemic overwhelms their supply chains.
Disney to Furlough Employees Across All U.S. Divisions
Walt Disney Co. is furloughing employees across all divisions in
its domestic operations, as the world's largest entertainment
company struggles with continued fallout from the spread of the
novel coronavirus.
(END) Dow Jones Newswires
April 03, 2020 13:00 ET (17:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.