News Highlights: Top Company News of the Day
04 April 2020 - 12:30AM
Dow Jones News
FTC Builds Antitrust Case Around Altria's Noncompete Pact With Juul
The Marlboro maker exited the e-cigarette market in the days
before the $12.8 billion deal, a suit says.
GM Seeks Tariff Relief for Ventilator Parts
The car maker is asking the Trump administration to drop import
tariffs on Chinese parts needed to make ventilators, saying the
levies will make it more expensive to build desperately needed
machines that can save lives.
Hallmark Cuts Staff and Pay, Seeing No End to 'Steep Declines'
Hallmark Cards will cut pay for its corporate workers and
furlough "non business-critical" employees by mid-April, as the
coronavirus pandemic cripples its already weakened greeting-card
business.
Walmart's U.S. Store Sales Jumped 20% in Past Month
Sales at the retailer rose rapidly in stores and online in
recent weeks as shoppers, worried about the spread of coronavirus,
rushed to stockpile water, face masks and canned goods before
shifting their focus to necessities for a prolonged stretch at
home.
Warehouse Hiring Surge Defies Crashing U.S. Jobs Market
Warehousing companies defied the national rush to eliminate jobs
in March, adding thousands of new hires as consumer stockpiling of
food and household goods placed heavy demand on distribution
networks.
Ernst & Young Says It First Found Accounting Issues at Luckin
The accounting firm said it uncovered the problems at China's
Luckin Coffee, which have hammered the Starbucks challenger's stock
and cast doubt over a large part of the company's sales last
year.
3M, Under White House Attack, Pushes Back
The company said it is raising domestic mask production,
importing masks from its plant in China and taking action against
price-gouging on masks that medical workers need to treat patients
infected with the new coronavirus.
JPMorgan Seeks Full Ownership of Chinese Fund-Management Venture
JPMorgan Chase said it plans to seek full ownership of its
Chinese fund-management joint venture, opening a path to becoming
the first foreign firm to do so in China's asset-management
industry.
Local TV Sees Spike in Viewers, Drop in Ads in Coronavirus Crisis
Local television stations are experiencing a rare surge in
viewership as more Americans tune in for coronavirus updates. But
the stations are unlikely to benefit financially because of a
cutback in advertising spending.
Marlboro Owner's Antitrust Case Adds to the Burn
Altria's fraught investment in e-cigarette company Juul Labs
will take even longer to redeem following a challenge by the
Federal Trade Commission.
(END) Dow Jones Newswires
April 03, 2020 19:15 ET (23:15 GMT)
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