News Highlights: Top Company News of the Day
March 18 2020 - 3:30AM
Dow Jones News
European Corporate Roundup: Fresh Warnings Add to Market Woes
Sodexo warned it faced a EUR2 billion revenue hit this year from
the coronavirus, while Renault and MAN said they would suspend or
cut some production activities.
Sheriff Quashes Elon Musk's Aim to Keep Tesla Production Humming
The sheriff's office in the county home of Tesla's California
car factory said the auto maker must halt production, putting a
brake on CEO Elon Musk's plans to work despite statewide efforts to
mitigate the coronavirus pandemic.
Boeing Asks for $60 Billion in Aid for U.S. Aerospace Industry
Boeing said it was seeking at least $60 billion to aid the U.S.
aerospace industry as the plane maker, its suppliers and airline
customers face fallout from the coronavirus crisis.
Hotels Seek $150 Billion in Aid as Travel Plummets
The U.S. hotel industry asked the Trump administration for a
$150 billion bailout Tuesday, joining the growing ranks of
businesses appealing to the federal government to stave off
insolvency after getting hammered by the fallout of the
coronavirus.
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.
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.
Najafi and Trinity Offer to Buy Tegna
The private-equity firm and the faith-based broadcaster have
offered cash consideration of $20 a share, adding to a crowded
field of suitors.
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.
United Airlines Announces Cancellation of More Flights
United Airlines said is cutting more flights than it had planned
a few days ago, due to the sharp decline in travel demand.
New FDA Test Policy Could Boost Availability, But Reduce Reliability
A federal agency's decision to allow lab companies to release
coronavirus tests without prior government approval should help
ease the shortage of test kits, but at the potential cost of
compromised results, medical experts said.
(END) Dow Jones Newswires
March 18, 2020 03:15 ET (07:15 GMT)
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