News Highlights: Top Company News of the Day
May 26 2020 - 8:30PM
Dow Jones News
Amazon in Advanced Talks to Buy Self-Driving-Car Tech Company Zoox
Amazon is in advanced talks to buy Zoox, a move that would
expand its reach in autonomous-vehicle technology, people familiar
with the matter say.
Amtrak Prepares to Cut 20% of Workforce
Amtrak is preparing to cut up to 20% of its workforce in the
next fiscal year as the national railroad continues to suffer from
a huge decline in ridership as the coronavirus pandemic brought
most travel to a halt.
Facebook Executives Shut Down Efforts to Make the Site Less Divisive
The social-media giant internally studied how it polarizes users
and how it might address the resulting harms, then largely shelved
the research.
SEC Fines Ares $1 Million for Compliance Failures
Ares Management has agreed to pay $1 million to settle
allegations that it bought stock in one of its portfolio companies
while an Ares employee sat on that company's board and had access
to inside information.
France's Macron Orders Up Billions in Aid for Auto Industry
The French government is taking steps to prop up France's auto
industry amid a collapse in car purchases caused by the coronavirus
crisis.
Hertz Paid Out $16 Million in Bonuses Days Before Bankruptcy
The car-rental company paid more than $16 million in retention
bonuses to senior managers, including its new chief executive, just
days before it filed for bankruptcy Friday night.
J.Crew Allowed to Postpone Rent for Two Months in Bankruptcy
A bankruptcy judge allowed J.Crew to pause paying rent for two
months despite pleas from many large landlords to resume payments
as its stores start to reopen.
Pandemic Won't Be a Serious Detour for Auto-Parts Retail
Auto-parts retailers' sales should fare well as consumers choose
to repair their cars rather than replace them. Their steady sales
last quarter should be taken as an encouraging sign as they gear up
for the rest of this year.
Taco Bell, Walmart Among Advertisers Seeking New Deal Terms With Quibi
Streaming service Quibi is beginning to feel the pinch of its
lackluster performance since launching last month, as major
advertisers seek to defer payments and the company looks to cut
costs, according to people familiar with the situation.
High-End Apartment Owners Dodge Economic Slump
The country's largest publicly traded landlords say people in
premium apartments are still paying rent. Yet rents are likely to
decline, as landlords capitulate on price to keep apartments
occupied during the pandemic.
(END) Dow Jones Newswires
May 26, 2020 21:15 ET (01:15 GMT)
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