Exclusive: Boeing to freeze hiring, overtime on 737 MAX, virus impacts: sources
Boeing Co is freezing new hiring and overtime except in certain critical areas in efforts to preserve cash due to the coronavirus outbreaks and the 737 MAX grounding, people familiar the matter said on Wednesday.
U.S. senator says Trump administration mulling use of oil reserve to help crude producers
U.S. Senator John Thune said on Wednesday he believes the Trump administration is evaluating use of the Strategic Petroleum Reserve, and other measures, to help oil producers deal with the plunge in crude prices due to the coronavirus and a price war b…
Many Disney shareholders push back against executive pay
A large minority of Walt Disney Co shareholders who cast votes at the company’s annual meeting on Wednesday opposed the company’s executive pay plan, Disney said.
California attorney general will end fight against Sprint, T-Mobile merger
The office of California Attorney General Xavier Becerra will not appeal a court’s decision that a merger of wireless carriers Sprint Corp and T-Mobile US Inc may go forward, it said on Wednesday.
Wall Street pounded by growth fears as Boeing slumps
U.S. stock indexes tumbled on Wednesday as investors worried over the absence of immediate measures from President Donald Trump’s administration to counter the economic fallout from the coronavirus outbreak.
U.S. ‘looking at’ CalPERS holdings in Chinese defense firms: top White House official
The Trump administration is “looking at” investments in Chinese military companies by the California Public Employees’ Retirement System (CalPERS), U.S. national security adviser Robert O’Brien said on Wednesday.
Rising food costs lift U.S. consumer prices; coronavirus to weigh on inflation
U.S. consumer prices unexpectedly rose in February but could drop in the months ahead as the coronavirus outbreak depresses demand for some goods and services, outweighing price increases related to shortages caused by disruptions to the supply chain.
Boeing to draw down billions in loan cash as pressure builds
Boeing Co is planning to draw down the rest of a $13.8 billion loan it agreed last month, a source told Reuters on Wednesday, as the coronavirus outbreak adds to pressure on the U.S. plane-maker due to the grounding of its 737 MAX jets.
BlackRock says voted against Qualcomm executive pay, director
Top fund manager BlackRock Inc said on Wednesday it cast an advisory vote against the pay of executives at chipmaker Qualcomm Inc, , and against a compensation committee member, citing a concern that a one-time stock award was “not aligned” with share…
Equinor’s offshore oil rig infection exposes coronavirus dangers
Equinor reported the oil industry’s first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms.
