These 10 retailers, including Forever 21 and JC Penney, are trying to stave off permanent closures as the coronavirus pandemic crushes their finances....
(Bloomberg) -- Saudi Arabia might have just signed off on one of the most notable oil output deals in history, but challenges lie ahead as the kingdom faces keen competition from rival suppliers to the prized Asian market.That perhaps explains why the de-facto leader of OPEC slashed its official selling prices to Asian customers for May by larger-than-expected margins this week. Eight of eleven refiners across the region surveyed by Bloomberg welcomed Saudi Aramco’s aggressive marketing strategy, while the remaining three said they had expected even steeper discounts.Despite the price war being defused over the weekend, there’s no reason to think that the deluge of cheap crude washing over Asia will ebb quickly as the coronavirus continues to depress demand. Varieties such as Russia’s Urals, Mars from the U.S. and several Abu Dhabi grades crude were being offered in recent weeks to buyers on a delivered basis with flexible arrival dates...
In a bid to further cut costs, Tesla (TSLA) is pursuing a reduction in rent, according to correspondence viewed by The Wall Street Journal.“The rapid world pandemic that is now affecting our country has led Tesla to make strategic decisions to ensure the company’s long-term success and growth,” said the email sent to landlords, as seen by The Wall Street Journal. “As a result of the increasing restrictions on our ability to conduct business, we would like to inform you that we will be reducing our monthly rent obligations effective immediately.”The automaker told its landlords that it would like to discuss options over the following days and weeks “so we can continue to partner and work together to ensure a continued and mutually beneficial relationship.”Meanwhile Tesla recently decided to furlough non-critical employees without pay and temporarily cut executive salaries as much as 30%.The move is designed to enable the company to...
The world's second-biggest tobacco group on Tuesday said it was cooperating with the U.S. Department of Justice (DoJ) and Office of Foreign Assets Control (OFAC) without elaborating and declined to say whether the case was a criminal investigation. Neither the DoJ nor OFAC responded immediately to Reuters' requests for comment....
Working remotely may be "business as usual" for the foreseeable future, but until brokerage and carrier organizations can return to their brick-and-mortar offices, there are ways to be more effective working remotely. Download Work from Anywhere to Affect Everywhere to learn the five most-cited benefits from working remotely. ...
Anheuser-Busch InBev , the world's largest brewer, proposes to halve its final dividend and has postponed its annual shareholder meeting owing to uncertainty around the COVID-19 pandemic. The maker of Budweiser, Corona and Stella Artois on Tuesday said that it is proposing to pay a final 2019 dividend of 0.50 euros per share, down from the 1 euro it had initially proposed. It paid an interim dividend of 0.80 euros in November....
