Wells Fargo Profit Falls 89% Amid Coronavirus Crisis

The bank's first-quarter profit sank 89% and it set aside billions of dollars to cover potential losses on loans to borrowers hurt by the coronavirus pandemic.

 
JPMorgan Profit Sinks Nearly 70% As It Braces For Loan Defaults

New York-based JPMorgan, the largest U.S. lender by assets, reported first-quarter earnings that showed the growing toll of the new coronavirus on the nation's economy and banking system.

 
Johnson & Johnson's Profit Rises on Higher Consumer-Products Sales

Demand for Tylenol over-the-counter medicine rose as people sought to use the painkiller to reduce fever and relieve pain associated with Covid-19.

 
A One-Way Trip for Norwegian Air

Forgoing cheap flights from Boston to Rome will be tough for Norwegian Air Shuttle's customers, but necessary for its investors.

 
Renault Is Closing Its Main China Business

Renault, which was already struggling in China before the coronavirus epidemic hit, will stop making gas-powered cars for domestic sale and wind up its main joint venture with a state-run auto maker.

 
Grubhub Can Thrive Only if Restaurants Survive

Grubhub's pledge of support shows restaurants' sinking pulse amid closures.

 
Tesla Seeks Rent Savings Amid Coronavirus Crunch

The Silicon Valley electric-car maker, which operates its own stores and service centers, told its landlords it would like to discuss options "so we can continue to partner and work together to ensure a continued and mutually beneficial relationship."

 
Amazon to Ease Curbs on Nonessential Items

The e-commerce giant will begin allowing third-party sellers on its platform to ship so-called nonessential items, as Amazon continues to add staff to meet demand fueled by the pandemic.

 
SoftBank Needs a New Strategy

Japanese technology investor SoftBank has thrown money at startups like WeWork and Uber, but that approach is fast running out of road.

 
True Religion Files for Bankruptcy as Coronavirus Outbreak Slams Retail

The jeans maker filed for bankruptcy for the second time in less than three years, saying it was the only option to preserve value as government stay-at-home edicts shut down nonessential stores nationwide.

(END) Dow Jones Newswires

April 14, 2020 09:00 ET (13:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.