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Credit Suisse weighs curbing bonuses at time of coronavirus: CEO

Credit Suisse bank could restrain 2020 bonuses in a show of unity with victims of the coronavirus epidemic in Switzerland, Chief Executive Thomas Gottstein said on Monday.

Markets

Visa transaction volumes hurt as coronavirus crisis deepens

Visa Inc said on Monday its transaction volumes had been hit as the coronavirus pandemic wreaks havoc on consumer spending, leading it to forecast mid-single-digit percentage revenue growth for the second quarter.

Markets

Ford, GE to produce 50,000 ventilators in 100 days

Ford Motor Co said on Monday it will produce 50,000 ventilators over the next 100 days at a plant in Michigan in cooperation with General Electric's healthcare unit, and can then build 30,000 per month as needed to treat patients afflicted with the coronavirus.

Markets

Fiat Chrysler CEO to halve his salary for three months in virus response: letter

Fiat Chrysler top executives will temporarily cut their salaries to preserve the automaker's financial soundness during the coronavirus emergency, Chief Executive Mike Manley told employees on Monday.

Markets

BP will not cut jobs over next three months: CEO Looney

Oil major BP PLC will not cut jobs over the next three months, Chief Executive Officer Bernard Looney said, even as the company seeks to reduce spending following an oil price crash.

Markets

JPMorgan plans to raise up to US$10 billion for alternative investments: Bloomberg News

JPMorgan Chase & Co's alternative investments unit is seeking to raise up to US$10 billion to boost its spending power in the face of the coronavirus pandemic, Bloomberg News reported on Monday.

Markets

Kohl’s extends store closure, draws down US$1 billion credit facility amid coronavirus outbreak

Kohl's Corp said on Monday it would extend the duration of store closure, and fully draw down on its US$1 billion revolving credit facility to control damages from the coronavirus pandemic.

Markets

US markets watchdog Clayton says SEC should not ban short-selling of shares

The head of the U.S. Securities and Exchange Commission said on Monday that it should not ban short-selling of shares, amid speculation on further measures the agency might take to arrest a market rout that stems from fears the coronavirus will spark a global recession.

Markets

AmEx to freeze hiring, not cut jobs as coronavirus crisis deepens- Bloomberg News

Credit card issuer American Express Co will freeze hiring and avoid job cuts this year in response to the coronavirus pandemic, Bloomberg news reported on Monday, citing a video message to employees from Chief Executive Officer Steve Squeri.

Markets

Williams-Sonoma, Pottery Barn unit made unsubstantiated ‘made in America’ claims: FTC

Luxury kitchenware company Williams-Sonoma Inc and its Pottery Barn unit have agreed to stop making unsubstantiated "made in America" claims and to pay US$1 million, the Federal Trade Commission said on Monday.

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