News Highlights: Top Company News of the Day
April 06 2020 - 1:30PM
Dow Jones News
PG&E's Settlement With California Fire Victims Is Fraying
Lawyers who brokered the $13.5 billion deal with the utility now
say they no longer support it and want changes, a stance that
threatens PG&E's effort to exit bankruptcy by summer.
Banks Stand to Lose More Than $100 Million on Loan to Chairman of China's Luckin Coffee
The development comes as the Chinese coffee chain's share price
has plunged after Luckin said much of its 2019 sales were
fabricated.
JPMorgan CEO Dimon Says He Is Expecting 'a Bad Recession'
JPMorgan Chase CEO James Dimon said his bank hasn't sought
looser regulations to help it handle the economic collapse caused
by the virus, detailing instead its ability to keep lending in even
more dire circumstances.
Car Insurers Give Millions in Coronavirus Refunds
One of the largest car-insurance companies in the country,
Allstate, and a smaller Midwestern auto insurer are refunding
hundreds of millions of dollars to their policyholders.
SeaWorld Chief Executive Sergio Rivera Resigns After Five Months
The theme-park company said its finance chief, Marc Swanson, is
serving as interim chief executive amid a string of leadership
changes at the company in the past few years.
Big Restaurant, Hotel Chains Won Exemption to Get Small-Business Loans
While the new $350 billion Paycheck Protection Program is aimed
at businesses with 500 or fewer employees, big restaurant and hotel
chains can participate regardless of how many people they
employ.
With Coronavirus Shutdowns, Airlines Learn to Manage Without Flying Many Planes
No longer operating globe-spanning flights, airlines are
consumed with new work: navigating government bailouts, negotiating
with unions, finding places to park idle planes and scrounging for
business like flying cargo.
Zoom's Runaway Success Carries a Heavy Burden
The coronavirus pandemic has made videoconferencing upstart Zoom
a household name, adding to its challenges.
Got an Airplane In Your Portfolio? Get Ready for a Long Descent
Aircraft aren't worth what they were just three months ago. This
looks like just the beginning of a long, uncomfortable landing.
Shipping Delays? Out-of-Stock Items? Amazon Isn't the Only Shop Online
Massive order volume, fueled by the global coronavirus crisis,
is causing a logistics backlog at Amazon. Retailers with
temporarily closed bricks-and-mortar spaces are rivaling, and
sometimes even beating, the e-commerce giant on shipping times.
(END) Dow Jones Newswires
April 06, 2020 13:15 ET (17:15 GMT)
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