Latest Corporate management News

REI: Stores stay shut, workers furloughed, no pay for CEO

Apr. 6, 2020 9:37 PM EDT

SEATTLE (AP) — REI said Monday it would keep its 162 retail locations closed and furlough some of its roughly 14,000 employees without pay for 90 days as the COVID-19 pandemic continues to halt much of the retail industry. CEO Eric Artz, who announced the decision in a blog post, said he and the Kent-based...

FILE - In this March 24, 2020, file photo stacks of medical supplies are housed at the Jacob Javits Center that will become a temporary hospital in response to the COVID-19 outbreak in New York. A review of federal purchasing contracts by The Associated Press shows federal agencies waited until mid-March to begin placing bulk orders of N95 respirator masks, mechanical ventilators and other equipment needed by front-line health care workers. (AP Photo/John Minchillo, File)

Lost Time: How coronavirus spread while supply orders lagged

Apr. 6, 2020 4:49 PM EDT

The government’s stockpile of critically needed medical supplies and equipment is nearly drained just as the numbers of people infected with the coronavirus and in need of critical care is surging. Back in January, the first alarms were sounding about the outbreak in China. In time, it would become a...

FILE - This Jan. 31, 2017, file photo, shows the entrance to SeaWorld, in Orlando, Fla. SeaWorld Entertainment is furloughing 90% of its workers because the novel coronavirus had forced the company to close its 12 theme parks. The employees will be paid through the beginning of next week. After next week, the workers will be off without pay for an uncertain time, the Orlando-based company said Friday, March 27, 2020, in a Securities and Exchange Commission filing. (AP Photo/John Raoux, File)

SeaWorld CEO resigns five months into job, cites board

Apr. 6, 2020 11:37 AM EDT

ORLANDO, Fla. (AP) — SeaWorld Entertainment's chief executive has resigned only five months into his job, becoming the third leader of the theme park company to depart in just over two years, according to a company filing released Monday. Sergio Rivera cited his disagreement with the board of directors'...

Major League Soccer Commissioner Don Garber speaks during the Major League Soccer 25th Season kickoff event in New York, Wednesday, Feb. 26, 2020. (AP Photo/Richard Drew)

AP Source: MLS cutting pay of top executives, some staff

Apr. 1, 2020 8:02 PM EDT

Major League Soccer plans to cut the pay of some executives and front office personnel while the season is on hold because of the coronavirus pandemic, a person with knowledge of the situation told The Associated Press on Wednesday. MLS Commissioner Don Garber and Deputy Commissioners Mark Abbott and Gary...

FILE - In this file photo taken March 23, 2015, Jason Kilar poses for a photo in San Francisco.  Kilar, the founding chief executive of Hulu and a former Amazon senior vice president, has been named CEO of WarnerMedia, the company announced Wednesday. (AP Photo/Eric Risberg, File)

WarnerMedia names former Hulu chief Jason Kilar CEO

Apr. 1, 2020 1:28 PM EDT

NEW YORK (AP) — Jason Kilar, the founding chief executive of Hulu and a former Amazon senior vice president, has been named CEO of WarnerMedia, the company announced Wednesday. Kilar takes the reins of one of Hollywood's largest film and television factories, putting in him charge of the Warner Bros....

Brazil's President Jair Bolsonaro greets supporters and journalists as he arrives to give a news conference on the new coronavirus at Planalto presidential palace in Brasilia, Brazil, Friday, March 27, 2020. Even as coronavirus cases mount in Latin America’s largest nation, Bolsonaro is calling the pandemic a momentary, minor problem and saying strong measures to contain it are unnecessary. (AP Photo/Andre Borges)

Facebook joins resistance to Bolsonaro virus claims

Mar. 31, 2020 8:41 PM EDT

SAO PAULO (AP) — Major social media companies are taking aim at Brazilian President Jair Bolsonaro's dismissal of social distancing, joining others in the country who have lined up against his controversial stance regarding the new coronavirus. Facebook and Instagram removed posts by the far-right leader...

FILE - In this Dec. 3, 2018, file photo, a vehicle rests in front of a home leveled by the Camp Fire in Paradise, Calif. California power regulators are weighing a recommendation to back off plans to fine Pacific Gas and Electric an additional $462 million for igniting a series of Northern California 2018 deadly wildfires rather than risk that the harsher punishment will scuttle the utility's plan to emerge from bankruptcy protection, the state's Public Utilities Commission said in a document made public Monday, March 30, 2020. (AP Photo/Noah Berger, File)

Regulators mull reversing $462M increase in PG&E fire fines

Mar. 31, 2020 7:43 PM EDT

BERKELEY, Calif. (AP) — California power regulators are weighing a recommendation to back off plans to fine Pacific Gas and Electric an additional $462 million over a series of deadly Northern California wildfires rather than risk that the harsher punishment might scuttle the utility's plan to get out of...

FILE - This May 23, 2019, file photo shows the logo for the Jefferies Financial Group in New York. Jefferies Financial Group announced Sunday, March 29, 2020, that its chief financial officer, Peregrine C. Broadbent, died Sunday from coronavirus complications. He was 56. (AP Photo/Richard Drew, File)

Wall Street executive dies from coronavirus complications

Mar. 29, 2020 5:58 PM EDT

NEW YORK (AP) — The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments this weekend related to the global economy, the work place and the spread of the virus. ______ WALL STREET EXECUTIVE DIES: An executive at New York-based investment...

FILE - In this Aug. 27, 2018 file photo, Russian President Vladimir Putin, left, listens to Russian Rosneft CEO Igor Sechin during his flight to visit Chernigovets coal mine, in Beryozovsky, Kemerovo region, Russia. On Tuesday, Feb. 18, 2020, the Treasury Department slapped sanctions on Rosneft’s trading arm and its CEO, accusing the Geneva-based firm of providing a critical lifeline to Venezuela’s President Nicolas Maduro. (Alexei Druzhinin, Sputnik, Kremlin Pool Photo via AP, File)

Rosneft hands Venezuelan oil business to Russian state firm

Mar. 28, 2020 7:56 PM EDT

MOSCOW (AP) — Russia's Rosneft has transferred its assets in Venezuela to a company fully owned by Vladimir Putin's government, a move apparently intended to shield Russia's largest oil producer from U.S. sanctions while Moscow continues showing support for Venezuelan President Nicolás Maduro in the...

Medical staff members arrive for a duty shift at Dongsan Hospital in Daegu, South Korea, Friday, March 27, 2020. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death.(Lee Yong-hwan/Newsis via AP)

The Latest: UN says 86 staffers around world reported cases

Mar. 28, 2020 1:40 AM EDT

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — U.N. says 86 staffers around world have reported cases of...