News Highlights: Top Company News of the Day
April 07 2020 - 1:30PM
Dow Jones News
Companies Offer FEMA Critical Supplies the Government Can't Buy
More than 1,000 companies have responded to the federal agency's
call for much-needed resources in fighting the pandemic, but only
three have items FEMA can obtain, according to a person familiar
with the matter.
Darden, Denny's Say Sales Fall Sharply
Darden Restaurants and Denny's said their sales have plummeted
in recent weeks as their dining rooms remain closed amid the
coronavirus crisis.
WeWork Directors Sue SoftBank Over Terminated $3 Billion Share Offer
A special committee of WeWork's directors said pulling the offer
was a breach of contract that would harm hundreds of current and
former employees.
Exxon Cuts Capital Spending by 30% in Response to Coronavirus
The largest portion of the $10 billion in cuts will be in the
Permian Basin, the largest U.S. oil field. Exxon said it would
evaluate how the cuts would affect production.
Companies Cite New Government Benefits in Cutting Workers
A number of companies are citing the federal government's
beefed-up unemployment benefits as they furlough or lay off staff,
with the stimulus package allowing them to cut payroll costs
without feeling they are abandoning their employees.
Nissan, Honda Trigger Furloughs for More Than 24,000 U.S. Workers
The Japanese car makers said those affected won't get paid wages
but will retain benefits, as most of the U.S. auto industry remains
shut down because of the pandemic.
Facebook's WhatsApp Battles Coronavirus Misinformation
Users' ability to forward content on its encrypted messaging
platform is being limited, as misinformation about the coronavirus
pandemic proliferates on the service in its biggest market,
India.
Working at Home Is Helping Samsung-for Now
Samsung, the world's largest memory-chip maker, has likely
benefited from strong demand for cloud computing, but the boost may
not survive an economic downturn.
Medical Technology Stocks Face a Coronavirus Swoon
Hospital operations have been thrown for a loop recently. Health
care should be prepared for major disruption as a result.
Real-Estate Investors Eye Distressed Sales
Coronavirus has caused widespread stress in property assets such
as hotels, retail properties and mortgage-backed securities.
(END) Dow Jones Newswires
April 07, 2020 13:15 ET (17:15 GMT)
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