PRESS DIGEST- Wall Street Journal – March 31

March 31 (Reuters) – The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

– The Treasury Department released new details Monday night on how it will award grants and loans for airlines affected by the coronavirus pandemic, and urged companies to submit some applications by Friday to begin receiving funds as soon as possible.

– Johnson & Johnson said Monday that it had made progress on a vaccine to prevent Covid-19 and that the product could be ready in early 2021.

– Walt Disney Co said Chairman and former Chief Executive Robert Iger has agreed to forgo most of his salary while his successor, CEO Bob Chapek, along with several executives, will take pay cuts as the company works through challenges stemming from the coronavirus outbreak.

– Facebook Inc is pledging $100 million in grant money and promised ad spending to help struggling news outlets weather the financial blow of the coronavirus outbreak.

– Two leading shale producers in America’s hottest oilfield, Pioneer Natural Resources Co and Parsley Energy Inc are formally asking Texas regulators to consider curtailing crude output in the state as the industry grapples with collapsing demand and plunging prices

Compiled by Bengaluru newsroom

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