Exclusive: Argentina says new debt revamp proposal in right direction, still falls short
Argentina’s economy minister said on Friday that a newly received debt restructuring proposal from two creditor groups was a step in the right direction, but still fell short of what the country needed to strike a deal.
Sainsbury’s new boss Roberts faces unexpected in-tray
When Sainsbury’s new boss Simon Roberts hosts a virtual focus group with supermarket shoppers on his first day in charge on Monday, the conversation will be radically different from the one he might have imagined when he got the job.
Costco profit falls on coronavirus-related costs
Costco Wholesale Corp reported a 7.5% fall in quarterly profit on Thursday, as it spent more on wages and sanitizing its warehouse clubs and halted sales of some high-margin products due to the COVID-19 pandemic.
Salesforce cuts annual estimates on COVID-19 hit
Salesforce.com Inc cut its annual revenue and profit forecasts on Thursday, as the cloud-based business software maker allowed clients to defer payments and provided its sales team one-time commissions amid the COVID-19 pandemic.
GM to increase North America vehicle production
General Motors said on Thursday it would start increasing vehicle production in North America from next week to meet rising demand.
Trump move could scrap or weaken law that protects social media companies
President Donald Trump said he will introduce legislation that may scrap or weaken a law that has protected internet companies, including Twitter and Facebook, in an extraordinary attempt to regulate social media platforms where he has been criticized….
UPS adds ‘peak’ surcharge amid coronavirus fueled delivery spike
United Parcel Service Inc on May 31 will slap surcharges on U.S. e-commerce companies that have flooded its delivery network with shipments of everything from packaged food to patio furniture since the coronavirus took hold in March.
ViacomCBS slashes up to 400 jobs as part of merger restructuring: source
ViacomCBS Inc is cutting up to 400 employees across CBS as part of its plan to save $750 million from its merger with CBS, a source familiar with the matter said on Thursday.
U.S. major airlines roll out more options to avoid staff layoffs
The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company m…
Nordstrom sales plunge nearly 40% on pandemic-led store closures
Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40% slump in quarterly sales, as lockdowns to contain the COVID-19 pandemic forced it to shut stores.
