News Highlights: Top Company News of the Day
Fed Names Banks in $600 Billion Main Street Lending Program
The Fed published a partial list of banks and credit unions
participating in its Main Street Lending Program in a bid to drum
up interest among small and midsize companies trying to weather the
GM's Suit Against Rival Fiat Chrysler Quashed by Federal Judge
In a lawsuit GM had accused its rival auto maker of bribing
union officials to gain an advantage on its labor costs.
United Warns It May Cut Almost Half Its U.S. Workforce
United Airlines said it could be forced to shed almost half its
U.S. workforce, telling 36,000 employees that they could be
furloughed from Oct. 1 because of the pandemic-driven slump in
YRC Lenders Agree to Extend Trucker's Debt Terms
YRC Worldwide's lenders gave the troubled trucker a
three-and-a-half year reprieve on its heavy debt load as the
company prepares for a $700 million federal bailout package.
Dan Gilbert Will Keep Voting Control at Quicken Loans Parent After IPO
Detroit businessman and Cleveland Cavaliers owner Dan Gilbert
spent the past 35 years building Quicken Loans into a mortgage
lending giant and an extension of his personal brand. That won't
stop when the company goes public.
Disney World Set to Reopen With Capacity Limits, Strict Rules
Walt Disney is counting on die-hard fans to weigh the risks of
traveling amid the pandemic and head to its flagship theme park in
Orlando. It will begin opening Walt Disney World in phases starting
Thursday, in the most crucial test yet of its ability to resume
operations while keeping consumers safe.
Wirecard Under Criminal Scrutiny in Probe of Alleged Bank Fraud
The Justice Department is examining whether scandal-plagued
German payment company Wirecard played a critical role in an
alleged $100 million bank-fraud conspiracy connected to an online
marijuana marketplace, according to people familiar with the
Earnings Forecasts Are Too Dire, but Still Proceed With Caution
There is a tendency for analysts to set a low bar for earnings
even in normal times. In the second quarter that tendency may have
gone into hyperdrive.
Alcoa Counters Weak Demand With Cost Cuts
The aluminum company said job cuts and other cost reductions
helped trim losses stemming from weak product prices as the
coronavirus pandemic weighed on the industrial economy.
Allstate to Buy Rival Insurer National General for $4 Billion
Allstate said the all-cash deal will help boost its business in
the personal property-liability sector.
(END) Dow Jones Newswires
July 08, 2020 17:00 ET (21:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.