Edition:
India

Jessica DiNapoli

U.S. firms shield CEO pay as pandemic hits workers, investors

28 May 2020

NEW YORK/BOSTON Sonic Automotive Inc, which operates 95 U.S. car dealerships, started laying off and furloughing about a third of its workforce as the coronavirus pandemic crushed its sales. Then it changed its executives' pay packages - handing them a multimillion-dollar windfall.

U.S. stock market swings higher despite rising U.S.-China tensions; oil up

16 May 2020

NEW YORK U.S. stocks gyrated on Friday before ending slightly higher, as investors worried about increased China-U.S. trade hostilities and disappointing retail sales figures, while signs of a pick-up in crude demand boosted oil prices.

GLOBAL MARKETS-U.S. stock market falls on plunging retail sales, China-U.S. tensions; oil up

15 May 2020

NEW YORK, May 15 U.S. stocks sank on Friday after data showed a surprisingly sharp dive in retail sales and as investors worried about increased Sino-U.S. trade hostilities, while signs of a pick-up in crude demand boosted oil prices.

GLOBAL MARKETS-U.S. stock market falls on plunging retail sales; oil up

15 May 2020

NEW YORK, May 15 U.S. stocks sank on Friday after data showed a worse-than-expected drop in retail sales and as investors worried about increased Sino-U.S. trade hostilities, while signs of a pick-up in demand helped boost oil prices.

Pay for directors on U.S. boards expected to rise - report

13 May 2020

NEW YORK Pay to directors serving on corporate boards is expected to rise as they assume more responsibilities such as dealing with environmental, social and governance (ESG) risks and the coronavirus pandemic, according to non-profit group The Conference Board.

Exclusive: Neiman Marcus creditor calls for deal with Saks Fifth Avenue - letter

13 May 2020

Hedge fund Mudrick Capital Management LP asked Neiman Marcus Group's independent directors on Tuesday to explore a combination with rival department store chain Saks Fifth Avenue, challenging the company's plan to reorganize under bankruptcy protection.

Exclusive: J.C. Penney to file for bankruptcy as soon as next week, sources say

08 May 2020

J.C. Penney Co Inc is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores, becoming the latest major U.S. retailer to succumb to fallout from the coronavirus outbreak, according to people familiar with the matter.

Exclusive: Lord & Taylor to liquidate its stores as soon as they reopen - sources

06 May 2020

NEW YORK Venerable U.S. retailer Lord & Taylor plans to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus are lifted as it braces for a bankruptcy process from which it does not expect to emerge, people familiar with the matter said on Tuesday.

World News