News Highlights: Top Company News of the Day
April 14 2020 - 7:30AM
Dow Jones News
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.
Roku Adds 3 Million Accounts as Coronavirus Forces Shelter-in-Place
The maker of streaming-media devices said that collective
streaming hours for the first three months of the year were up
49%.
Renault Halts Passenger Car Sales in China
Renault said it will stop selling its own-brand passenger cars
in China after withdrawing from a joint venture with Dongfeng and
will instead focus on light commercial and electric vehicles.
European Corporate Roundup: Valeo's Chinese Plants Operating Again
Valeo is the latest firm to withdraw guidance due to widespread
coronavirus disruption, but the French car parts supplier said it
expects Chinese sales to return to normal in the coming months.
Ad Giant Publicis Warns of Spending Pullback Amid Coronavirus
The head of one of the world's largest ad-agency conglomerates
warned the industry is facing a far more severe pullback in ad
spending than the one that buffeted Madison Avenue in the wake of
the financial crisis.
(END) Dow Jones Newswires
April 14, 2020 07:15 ET (11:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.