News Highlights: Top Company News of the Day
March 31 2020 - 2:30AM
Dow Jones News
Shell Warns of Blow From Oil Price Slump
Shell said it expects to book a $400 to $800 million impairment
charge due to the recent plunge in oil prices as it warned of lower
refinery margins and continued uncertainty ahead.
European Corporate Roundup: Hermes Cuts Payout, Makes Pledge on Salaries
Hermes plans to trim its dividend payout for 2020 but pledged to
maintain the basic salary of its global workforce without
additional government support.
Treasury Urges Airlines to Apply for Payroll Grants by Friday
The Treasury Department released new details Monday night on how
it will award grants and loans for airlines affected by the
coronavirus pandemic, and urged companies to submit some
applications by Friday to begin receiving funds as soon as
possible.
GM Hustles to Pump Out Ventilators to Fight Coronavirus
When President Trump last week criticized General Motors' effort
to produce ventilators, executives were flabbergasted. GM began
collaborating with a ventilator company a couple of weeks earlier,
and has mobilized more than 1,000 employees and nearly 100 auto
suppliers for the task.
Some Instacart and Amazon Workers Stay Home, Calling for More Pay in Coronavirus Pandemic
Some delivery and supermarket workers at Instacart and
Amazon.com are staying home to draw attention to their requests for
better pay and more protections against the risks of infection with
the new coronavirus.
Macy's, Gap to Furlough Most Workers
The retailers will furlough the majority of their store workers,
highlighting the limits of the $2 trillion rescue package for U.S.
businesses that have been cut off from their customers.
Blackstone's Shale Driller Gavilan Prepares for Debt Restructuring
Blackstone Group's shale driller Gavilan Resources is preparing
a potential bankruptcy filing over the plunge in commodity prices
and an unresolved dispute with Sanchez Energy, people familiar with
the matter said.
Disney Chairman Iger, CEO Chapek to Take Pay Cuts
Walt Disney said Chairman and former CEO Robert Iger has agreed
to forgo most of his salary while his successor, CEO Bob Chapek,
along with several executives, will take pay cuts amid the
coronavirus pandemic.
Virgin Australia Seeks $863 Million Bailout From Government
Airlines around the world are seeking government assistance
after many countries closed their borders to foreign visitors,
choking off their revenue while leaving carriers with fixed costs
such as leases for planes.
Bank of New York Mellon Names Gibbons CEO, Removing Interim Tag
Bank of New York Mellon Corp. said it named Todd Gibbons as
chief executive. He has been interim CEO since last fall.
(END) Dow Jones Newswires
March 31, 2020 03:15 ET (07:15 GMT)
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