News Highlights: Top Company News of the Day
17 March 2020 - 11:30PM
Dow Jones News
SoftBank Backs Away From Part of Planned WeWork Bailout
SoftBank Group is backing away from part of its planned bailout
of WeWork, people familiar with the matter said, privately citing
several regulatory investigations of the office-sharing
company.
FedEx Pulls Guidance, Will Reduce Capacity as Coronavirus Slows Economy
FedEx Corp. pulled its financial forecasts and said it would
continue to reduce its delivery capacity, as the coronavirus
pandemic disrupts global trade patterns and economic activity.
Fox Corp. to Buy Streaming Service Tubi
The company has struck a deal to acquire the streaming service
in a deal worth as much as $490 million.
HSBC Appoints Noel Quinn as Permanent CEO
HSBC Holdings appointed Noel Quinn as its permanent chief
executive, seven months after he assumed the leadership position on
an interim basis.
UAW Presses Auto Makers to Close U.S. Plants Amid Pandemic
The United Auto Workers union is pressing the Detroit car
companies for a two-week shutdown of U.S. factories over
coronavirus concerns.
Vitamin Retailer GNC Says It Might Default on Debt Due This Year
GNC Holdings said it might not be able to repay a loan that is
coming due in May and that it will delay filing its annual earnings
report.
Costco Buys Logistics Firm From Sears Owner for $1 Billion
Costco acquired logistics company Innovel Solutions from
Transform Holdco, the operator of Sears and Kmart stores, for $1
billion in cash.
Facebook Gives Employees Extra $1,000 and Good Reviews Amid Coronavirus
Facebook will give all of its full-time employees an additional
$1,000 in their next paycheck and will give everyone the same
"exceeds expectations" performance review for the first half of the
year.
Coronavirus Fallout Reaches Some of the World's Remotest Mines
Mining companies are reducing operations as the pandemic's
impact extends beyond the sector's share prices to some of its
most-isolated mines.
Marriott Starting to Furlough Tens of Thousands of Employees
The company began shutting down some of its managed properties
last week, a Marriott spokeswoman said. The coronavirus outbreak
has led to widespread travel cancellations and government-ordered
travel restrictions around the world.
(END) Dow Jones Newswires
March 17, 2020 19:15 ET (23:15 GMT)
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