Urban Outfitters predicts 60% fall in same-store sales on slow recovery
Apparel retailer Urban Outfitters Inc on Tuesday projected a 60% decline in same-store sales in the second quarter due to tepid demand recovery from the COVID-19 pandemic disruptions, sending its shares down 6% in extended trading.
Mining companies rush to shield indigenous communities from coronavirus
Big mining companies that rely on indigenous workforces or operate near remote communities have acted fast to curb the spread of the coronavirus and avoid a public health crisis that could damage their reputations.
GM delays tentative restart for plant in Silao, Mexico to May 21
General Motors Co signaled it has pushed back the tentative date for restarting operations at its auto assembly plant in the central Mexican city of Silao to May 21 from May 20, according to a message to workers seen by Reuters on Tuesday.
MGM, Caesars and Boyd will participate in employee COVID-19 testing plan
The Las Vegas gaming industry will offer COVID-19 tests to employees before they return to work, the Culinary Union announced Tuesday, moving the hard-hit sector a step closer to reopening.
Spotify new home for Joe Rogan’s podcast, shares jump
Spotify Technology SA said on Tuesday comedian Joe Rogan’s podcast will be available on the music streaming platform starting Sept. 1 and will become an exclusive later this year.
Business group cautions U.S. on ‘reshoring’ too much China supply
The U.S. Chamber of Commerce on Tuesday warned the U.S. government against overdoing a major effort underway to rip U.S. supply chains out of China in the wake of the coronavirus pandemic, saying such moves could harm the economy.
Johnson & Johnson to stop selling talc-based baby powder in U.S., Canada
Johnson & Johnson on Tuesday announced that it would stop selling its talc-based Johnson’s Baby Powder in the United States and Canada, saying it was part of a broad reassessment of its consumer product portfolio prompted by the coronavirus pandemic.
Lockheed may delay delivery of up to 24 F-35 jets as COVID-19 hits suppliers
Lockheed Martin said on Tuesday it will slow production of its stealthy F-35 fighter jets at its Texas facility, possibly delaying delivery of between 18 and 24 jets due to a parts shortage as the coronavirus hampers production across the jet’s vast s…
Exclusive: Third Point founder Daniel Loeb takes over as Munib Islam leaves firm
Billionaire investor Daniel Loeb is taking back the reins as sole chief investment officer at his hedge fund Third Point LLC, less than one year after he appointed long-time colleague Munib Islam to be his co-chief investment officer, according to a le…
Early data on Moderna’s COVID-19 vaccine insufficient: Stat News
Data from a small, early-stage safety trial testing Moderna Inc’s experimental COVID-19 vaccine does not provide the critical data needed to assess its effectiveness, health-focused Stat News reported on Tuesday, citing experts.
