News Highlights: Top Company News of the Day
|06/30/2020 | 05:16pm|
Airbus Plans to Cut 15,000 Jobs, Citing Impact of Coronavirus
Airbus said it would cut 15,000 jobs across its commercial aircraft division, the biggest restructuring in the planemaker's history, citing what it expects to be the Covid-19 pandemic's yearslong impact on the aviation sector.
Banks Face Increasing Compliance Risks, OCC Says
The coronavirus pandemic has forced some financial institutions to reduce staff or reassign personnel at a time when applications for government relief programs are flooding in, heightening banks' compliance risks, the Office of the Comptroller of the Currency said.
FCC Designates Huawei and ZTE as National Security Threats
The U.S. Federal Communications Commission said it designated Huawei Technologies and ZTE as national security threats.
Eileen Murray to Lead Finra, Wall Street's Self-Regulatory Arm
The former co-chief executive of Bridgewater, the world's largest hedge fund, will take over as chairperson of Finra, Wall Street's self-regulatory arm.
Adidas HR Chief to Retire After Criticism From Black Employees
Karen Parkin, the global head of human resources at Adidas, is retiring from the company following some employee complaints about the sportswear giant's culture and lack of diversity.
Companies Hit by Covid-19 Want Insurance Payouts. Insurers Say No.
A potentially $100 billion battle looms over "business interruption" coverage, which insurers say doesn't apply unless there is physical damage, like from a fire. In the thick of the fight is a New Orleans plaintiffs' lawyer who made his mark in the aftermath of hurricanes.
Conagra Says Grocery Demand Remains High Amid Pandemic
The food maker said it is investing in more manufacturing capacity as demand for its packaged foods remains strong this summer during the continuing coronavirus pandemic.
Microsoft Aims to Train 25 Million Workers Free in 2020
Classes on LinkedIn and GitHub online platforms will teach skills for 10 in-demand jobs from project manager to software developer.
Lululemon Jumps on Another Fitness Trend
Lululemon doesn't need its shiny new toy, but having it won't hurt, either.
Shell Takes $22 Billion Write-Down, Expecting Lower Oil and Gas Prices
Royal Dutch Shell is writing down the value of its assets by up to $22 billion because of lower energy prices following the demand-sapping coronavirus pandemic.