News Highlights: Top Company News of the Day
April 08 2020 - 1:15PM
Dow Jones News
Tesla Cuts Salaries, Furloughs Workers Amid Coronavirus Crisis
The electric-car maker is furloughing workers and cutting
salaried employees' pay more than two weeks after it was forced to
shut down production of its lone U.S. car-assembly plant.
McDonald's Warns Of Difficult Decisions Ahead
The hamburger chain said sales for its existing base of
restaurants globally fell 22% last month as the coronavirus spread
and economies around the world shut down.
Fed Eases Wells Fargo's Asset Cap to Lend to Small Businesses Harmed by Coronavirus
The Federal Reserve said it would temporarily ease its asset cap
on Wells Fargo to encourage the bank to lend to small businesses
harmed by the outbreak of coronavirus.
Container Ship Operators Idle Ships in Droves on Falling Trade Demand
Container ship operators have idled a record 13% of their
capacity over the past month as carriers at the foundation of
global supply chains buckle down while restrictions under the
coronavirus pandemic batter trade demand.
GM to Make 30,000 Ventilators for National Stockpile
The car maker is making 30,000 ventilators for the national
stockpile in a $489.4 million contract with the Department of
Health and Human Services, as surging coronavirus cases have tested
medical capacities across the U.S.
Instagram Draws Surge in Offers of Masks With Potential Risks
Thousands of accounts are hawking medical face masks that could
be fraudulent, according to a research report, a sign that Facebook
is struggling to prevent users from taking advantage of the
pandemic.
CFOs Look to Ramp Up Automation Investments Amid Pandemic
Finance chiefs are considering hastening investments in
automation initiatives to better manage their companies' finances
and operations despite facing revenue declines stemming from the
coronavirus pandemic.
Digital-Media Upstarts Cut Costs as Coronavirus Wipes Out Advertising
Many digital-media companies began 2020 predicting this would be
the year they would cross the goal line of profitability. Then the
new coronavirus struck.
Some Retail Chains Fight for Survival
With debt payments looming and access to loans uncertain during
the coronavirus crisis, retailers are running out of time.
Physician Practice Managers Brace for Impact of Coronavirus Slowdown
Private-equity firms poured billions of dollars into physician
practice management companies in recent years. But as the
coronavirus pandemic continues, many of those providers face
declining patient visits, if not outright closures, putting even
more pressure on their often debt-laden balance sheets.
(END) Dow Jones Newswires
April 08, 2020 13:00 ET (17:00 GMT)
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