News Highlights: Top Company News of the Day
France's Macron Orders Up Billions in Aid for Auto Industry
The French government is taking steps to prop up France's auto
industry amid a collapse in car purchases caused by the coronavirus
Hertz Paid Out $16 Million in Bonuses Days Before Bankruptcy
The car-rental company paid more than $16 million in retention
bonuses to senior managers, including its new chief executive, just
days before it filed for bankruptcy Friday night.
J.Crew Allowed to Postpone Rent for Two Months in Bankruptcy
A bankruptcy judge allowed J.Crew to pause paying rent for two
months despite pleas from many large landlords to resume payments
as its stores start to reopen.
High-End Apartment Owners Dodge Economic Slump
The country's largest publicly traded landlords say people in
premium apartments are still paying rent. Yet rents are likely to
decline, as landlords capitulate on price to keep apartments
occupied during the pandemic.
Pandemic Won't Be a Serious Detour for Auto-Parts Retail
Auto-parts retailers' sales should fare well as consumers choose
to repair their cars rather than replace them. Their steady sales
last quarter should be taken as an encouraging sign as they gear up
for the rest of this year.
Taco Bell, Walmart Among Advertisers Seeking New Deal Terms With Quibi
Streaming service Quibi is beginning to feel the pinch of its
lackluster performance since launching last month, as major
advertisers seek to defer payments and the company looks to cut
costs, according to people familiar with the situation.
Warner Music Sets IPO Plan
Warner Music said it would proceed with plans to sell shares to
the public despite market setbacks due to the coronavirus
Novavax Coronavirus Vaccine Begins Human Testing
Novavax's experimental coronavirus vaccine becomes one of at
least 10 now being tested in people globally for Covid-19.
Boeing, Airbus Study Coronavirus on Flights
The airplane makers are researching the coronavirus's behavior
inside jetliners, part of the industry's effort to curb risks that
have brought air traffic to a near standstill.
Aston Martin Replaces CEO With Daimler Executive in Bid for Survival
The British sports-car company made famous by James Bond ousted
its chief executive in a fresh bid to resuscitate a storied brand
that has been on life support.
(END) Dow Jones Newswires
May 26, 2020 17:15 ET (21:15 GMT)
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