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BUSINESS HEADLINES
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› Ford to build face shields at Brazil and Argentina car plants
Ford Motor Co said on Thursday it will make 50,000 face shields at factories in Brazil and Argentina to donate in the fight against the coronavirus pandemic. |
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› Walgreens shares fall as coronavirus pandemic hits store sales
Shares of Walgreens Boots Alliance Inc fell 6% on Thursday after the drugstore retailer reported a steep decline in U.S. same-store sales in the last week of March as customers stayed indoors due to the coronavirus outbreak. |
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› Facebook launches fact-checking service on WhatsApp in Italy to fight coronavirus hoaxes
Facebook Inc. launched a service in Italy to check the accuracy of information on coronavirus circulating on its messaging platform WhatsApp, the U.S. tech firm said on Thursday. |
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› Exclusive: Amazon to deploy masks and temperature checks for workers by next week
Amazon.com Inc plans to roll out temperature checks and face masks for staff at all its U.S. and European warehouses plus Whole Foods stores by early next week, a huge deployment for workers on the front lines of the coronavirus outbreak. |
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› Trump says oil-cut deal with Saudi, Russia to halt price rout
U.S President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how the cut would work were unclear. |
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› GE to suspend 50% of U.S. engine assembly, component manufacturing ops staff
General Electric Co said of Thursday it would temporarily lay off about half of its workers in U.S. engine assembly and component manufacturing operations. |
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› Exclusive: Trump does not plan to ask U.S. oil producers for coordinated cuts - official
The United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask U.S. domestic oil producers to chip in with their own cuts, a senior administration official told Reuters on Thursday. |
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› Fed's Kashkari says keeping workers in jobs is key to quick rebound
Keeping workers in their jobs is key to getting the economy out of what is "almost certainly" already a recession as authorities mandate businesses shut and people stay at home to slow the spread of the coronavirus, Minneapolis Federal Reserve Bank President Neel Kashkari said on Thursday. |
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› WeWork troubles deepen as SoftBank pulls $3 billion tender offer
SoftBank Group Corp said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis. |
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› Walmart puts partial sale of UK's Asda on hold due to coronavirus crisis: source
Walmart , the world's largest retailer, has put the possible sale of a majority stake in its British supermarket arm Asda on hold until the coronavirus crisis is over, said a person familiar with the situation. |
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› U.S. borrowers struggle to get coronavirus relief from big banks
U.S. borrowers seeking a reprieve from mortgage, auto or credit card payments because of coronavirus hardships are not getting the help they expected from big banks that promised assistance in recent weeks. |
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› Wall Street gains as oil surge eclipses massive jobless numbers
Wall Street bounced on Thursday as hopes of a truce between Saudi Arabia and Russia to cut oil output drove a record 22% surge in prices, outweighing the shock of over 6 million Americans filing for jobless claims due to virus-led lockdowns. |
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