News Highlights: Top Company News of the Day
29 May 2020 - 9:30AM
Dow Jones News
Costco's Sales Cool as Coronavirus Stockpiling Slows
Costco reported higher sales for its latest quarter but its
growth wasn't as fast as some competitors that were also able to
stay open during the pandemic.
Novartis Inks Deal to Make Experimental Coronavirus Vaccine
Swiss drugmaker will make a gene-based Covid-19 vaccine being
developed by researchers at Massachusetts Eye and Ear hospital,
Massachusetts General Hospital and the University of
Pennsylvania.
Trump Signs Order Targeting Social Media
The executive order seeks to limit the broad legal protection
that federal law provides to social media and other online
platforms.
Salesforce Trims Full-Year Outlook in Response to Coronavirus
The business-software provider cut its full-year earnings
outlook and said it provided payment relief to some customers in
the face of the pandemic.
24 Hour Fitness Searches for Bankruptcy Loan
The midprice gym chain is seeking a financing package to stay
afloat through a possible bankruptcy filing that could come within
weeks.
UAW Staffer Sues Union Alleging Sexual Harassment, Retaliation
A woman on staff at the United Auto Workers filed a lawsuit
claiming she was sexually harassed by higher-ranking UAW officials
and that the union failed to take corrective action when she
complained of the alleged incidents.
UPS Adds Peak Surcharge as Virus Drives Rise in E-Commerce
The carrier is imposing fees on companies that have inundated
its network with packages and oversize items during the pandemic,
an unprecedented move aimed at managing a summer flood of shipments
and higher costs.
Justice Department Blocks Marijuana Workers From Bankruptcy Protection
The Justice Department is preventing struggling cannabis
businesses and their workers from accessing bankruptcy to weather
the downturn, even in states that determine medical marijuana is
essential during the pandemic.
Investors Get More Bang for Their Buck at This Dollar Store
Coronavirus stockpiling wasn't enough to pull Dollar Tree's
sales growth up to Dollar General's, but it was enough to pick up
its downtrodden share prices.
Nissan Loses $6.2 Billion as It Prepares to Slim Down
Nissan recorded a $6.2 billion loss in the year ended in March
after it took big write-downs as part of a restructuring plan that
aims to make the car maker leaner and more profitable.
(END) Dow Jones Newswires
May 28, 2020 19:15 ET (23:15 GMT)
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