News Highlights: Top Company News of the Day
May 28 2020 - 3:30AM
Dow Jones News
Trump Draft Order Could Seek to Limit Protections for Social-Media Companies
The draft executive order would make it easier for federal
regulators to hold companies such as Twitter and Facebook liable
for curbing users' speech, for example by suspending their accounts
or deleting their posts.
American Airlines to Cut 30% of Management and Administrative Staff
The carrier is among those seeing demand pick up after being
decimated by the coronavirus pandemic, but the modest gains won't
be enough to save thousands of industry jobs.
Apple Lands Martin Scorsese Movie Starring Leonardo DiCaprio and Robert DeNiro
Apple has nabbed director Martin Scorsese's next film, "Killers
of the Flower Moon," starring Leonardo DiCaprio and Robert De Niro,
according to people familiar with the matter.
Hertz Fleet Losing Value by the Day, Hindering Restructuring Efforts
The roughly 700,000 rental cars that are the lifeblood of
Hertz's business are losing value rapidly, posing a challenge to
bondholders' repayment and to the bankrupt company's chances of
weathering the Covid-19 pandemic.
Boeing Details Plans for Mass Job Cuts
Boeing plans to shed more than 13,000 employees, including the
first round of compulsory cuts as part of previously announced
plans triggered by the coronavirus-driven collapse in global air
travel.
EasyJet to Cut Jobs by a Third
EasyJet said it plans to cut staff numbers by 30% as it seeks to
reduce costs to prepare for a prolonged period of weaker demand due
to the fallout of the coronavirus pandemic.
SAS in Talks Over More Funding
SAS said it's in talks with shareholders on a recapitalization
plan as the airline seeks further funding to weather the halt in
demand from Covid-19 travel restrictions.
Norwegian Air Unsure of Recovery Timing
Norwegian Air said it was still unclear when it or the airline
industry generally would recover to baseline levels, after it
reported a first-quarter loss of NOK3.28 billion.
Marathon Partners to Launch Proxy Fight With e.l.f. Beauty
Marathon Partners is planning to nominate three directors to
e.l.f. Beauty's board, a rare instance of an activist investor
launching a proxy fight since the coronavirus shook American
corporations.
HBO Max Is Left Out of Amazon's, Roku's Platforms
HBO Max was absent from the nation's two largest streaming
players when it launched Wednesday, the result of increasingly
frequent clashes between streaming services and distributors.
(END) Dow Jones Newswires
May 28, 2020 03:15 ET (07:15 GMT)
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