Exclusive: J.C. Penney explores bankruptcy as hopes for recovery fade – sources
J.C. Penney Co Inc is exploring filing for bankruptcy protection after the coronavirus pandemic forced the U.S. retailer to temporarily shut its 850 department stores, upending its turnaround plans, according to people familiar with the matter.
Major U.S. airlines accept government aid for payrolls; American also wants a loan
The U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a $25 billion rescue package, ensuring airline workers jobs until October while the industry works to overcome its biggest-ever crisis.
Virus-hit Princess Cruises to anchor all voyages till end of June
Carnival Corp-owned Princess Cruises, whose three ships had become hotbeds for coronavirus infections, said on Tuesday it would cancel all voyages until June-end, after a “no sail order” from U.S. health officials.
General Motors says will make 1.5 million masks a month in Mexico
General Motors Co will begin producing 1.5 million face masks a month at its plant in the Mexican city of Toluca at the end of April, it said on Tuesday, aiming for 9 million masks over six months to help curb the spread of the coronavirus.
GM begins production of ventilators for U.S. government
General Motors Co said on Tuesday it had started producing ventilators in the volume needed to treat severely ill coronavirus patients and would deliver the first batch of the medical equipment to the U.S. government this month.
Amazon fires three reported critics of warehouse conditions in pandemic
Amazon.com Inc said on Tuesday it had fired three reported critics of the company’s pandemic response for workplace violations, dismissals that drew sharp words from U.S. Senator Bernie Sanders and a labor coalition.
P&G boosts dividend, says earnings to be released ahead of schedule
(This April 14 story corrects paragraph 4 to say company raised its dividend to 79.07 cents from 74.59 cents, not to 7.907 cents from 7.459 cents.)
In hard-hit Florida, jobless workers struggle to get state aid
With cruise ships idled and airplanes almost empty, Florida travel adviser Nick Pena has been out of work for nearly a month, spending his days trying to secure jobless benefits from a state seemingly unable to provide them.
McDonald’s and its U.S. franchisees at odds over financial relief as crisis weighed
McDonald’s Corp rejected a request from its U.S. franchisees to delay collecting some March rent and royalty payments, prompting claims that the world’s largest fast-food company is not providing enough support during the coronavirus crisis, according…
U.S. Treasury says major airlines agree in principle to payroll aid
The U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a $25 billion payroll support package meant to help airlines weather the economic impact of the coronavirus on travel demand.
