U.S. backs minimum flights on airline routes in assistance review
The U.S. Transportation Department on Tuesday proposed that passenger airlines should be required to maintain minimum numbers of flights as a condition for receiving aid from the government’s $50 billion grant and loan fund.
Xerox abandons $35 billion hostile bid for HP
U.S. printer maker Xerox Holdings Corp walked away from its $35 billion hostile cash-and-stock bid for HP Inc on Tuesday, after the coronavirus outbreak weighed on its campaign to take over the PC and printing equipment manufacturer.
Macy’s to drop from S&P 500 to small-cap index
Macy’s Inc will be removed from the benchmark S&P 500 stock index , the S&P Dow Jones Indices said on Tuesday, as coronavirus-induced store closures compound the retail sector’s struggles with a shift to online shopping.
Independent worker group calls for Whole Foods ‘sick out’ over coronavirus
An independent group of workers at Whole Foods Market called on colleagues to phone in sick to the grocer’s stores on Tuesday to protest what they say is a lack of adequate compensation and protections from the coronavirus.
Zoom takes lead over Microsoft Teams as coronavirus keeps Americans at home
Zoom Video Communications Inc’s average user numbers in March were nearly three times that of its nearest rival Microsoft Corp’s Teams, according to research firm Apptopia, as the cornonavirus-driven stay-at-home lifted demand for video conferencing …
Dow sinks, virus pushes it to sharpest quarterly plunge in over three decades
Wall Street’s three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the coronavirus pandemic.
Caterpillar says it will not give annual salary increases this year
Caterpillar Inc on Tuesday said it will not hand out annual salary increases this year as part of cost cut plan to deal with the coronavirus economic fallout.
New York City to probe Amazon firing of warehouse worker
New York City Mayor Bill de Blasio said on Tuesday he had ordered the city’s human rights commission to open an investigation into the dismissal of a worker at an Amazon.com warehouse who participated in a walkout.
Citi postpones 2020 investor day due to coronavirus outbreak
Citigroup Inc said on Tuesday it would postpone its 2020 investor day that was scheduled to take place on May 13 due to the coronavirus pandemic.
JetBlue to cut flights in and out of hometown New York by as much as 80%
JetBlue Airways Corp plans to reduce daily flights in and out of the four New York City-area airports where it operates by as much as 80% in April as part of wider schedule cuts due to the coronavirus outbreak, a spokesman said.
