Stocks Fall Amid Concerns Over Recovery: Live Updates

May 13, 2020
Business

Catch up: Here’s what else is happening.

Walmart said on Tuesday that it would give another round of bonuses to its workers in the United States: $300 for full-time workers and $150 for part-time and temporary workers, for a total of more than $390 million. The retailer said it had committed more than $935 million in bonuses for its workers so far this year.
The theatrical distribution company Solstice Studios said Tuesday that it would release the thriller “Unhinged,” which stars Russell Crowe, in theaters nationwide on July 1. That’s two weeks before the Warner Bros. release date for Christopher Nolan’s “Tenet” and three weeks before Disney’s planned release of “Mulan.”
The Transportation Department warned airlines for a second time on Tuesday that they must refund passengers for canceled tickets after receiving about 20,000 consumer complaints in April, up from the 1,500 it receives in a typical month.
Saudi Aramco, the world’s largest oil company, reported Tuesday that its net income fell by 25 percent in the first quarter of 2020 compared with a year earlier. Still, Aramco said it earned $16.7 billion — an amount that may allow it to retain the title of world’s most profitable company. Amin H. Nasser, the company’s president and chief executive, said in a statement that the coronavirus pandemic “impacted” the results, which he called “exceptionally strong” given the situation.
Ryanair, Europe’s largest low-cost carrier, said it would resume 40 percent of its flight network beginning July 1, and institute safety measures like requiring passengers to wear face masks and to request access to the bathroom to prevent lines in the aisles.

Reporting was contributed by Jane Margolies, Sapna Maheshwari, Jack Ewing, Stephen Castle, Jeanna Smialek, Ben Dooley, Alan Rappeport, Kate Conger, Mike Isaac, Michael J. de la Merced, Noam Scheiber, Kai Schultz, Geneva Abdul, Stanley Reed, Niraj Chokshi, Alexandra Stevenson, Cao Li, Damien Cave, Matt Phillips, Gregory Schmidt, Carlos Tejada, Daniel Victor, Katie Robertson and Kevin Granville.

Article source: https://www.nytimes.com/2020/05/12/business/stock-market-live-coronavirus.html