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 and Denny's Hit Sales Slump

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.

 
Drugmaker Mallinckrodt Downsizes Debt Refinancing

Mallinckrodt said Tuesday the previous deal, which would have refinanced over $1.2 billion of its near-maturing debt, has been terminated. The pact was premised upon the pharmaceutical giant being able to raise a new term loan, but the deterioration of financial markets because of the coronavirus pandemic made it difficult for Mallinckrodt to obtain the new financing, according to people familiar with the matter.

 
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.

(END) Dow Jones Newswires

April 07, 2020 15:00 ET (19:00 GMT)

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