Business

Monday’s business headlines

The latest business headlines

INDIANAPOLIS (WISH) – Here’s a look at Monday’s business headlines.

Louis Vuitton

Louis Vuitton’s parent company will use cosmetics and perfume manufacturing facilities to make free alcohol-based sanitizer amid the global shortage.

The “hydrolacholic gels” will be provided free of charge to French healthcare authorities.

There has been a global shortage of alcohol-based sanitizers amid panic buying and the global COVID-19 pandemic.

AMC, Regal theaters

AMC theaters and Regal Cinemas – two of the country’s largest movie theater chains – have announced “social distancing” measures to help prevent the spread of the new coronavirus that has become a pandemic.

AMC is reducing seating capacity at each theater by 50 percent until April 30.

Regal is also reducing its capacity in half in places where local governments are mandating it.

Walmart, Nike

Several businesses are closing and shortening hours due to the coronavirus.

All of Walmart’s more than 4,700 US stores will be open from 6 a.m. to 11 p.m. until further notice. The company said the shortened hours will help employees restock shelves overnight and clean stores.

Apple is closing all stores outside of China until March 27.

Nike is closing all of its stores in the US.

And hospitals are canceling elective surgeries to make space for a potential flood of coronavirus patients.

Banks

In an emergency move Sunday, the Federal Reserve announced it is dropping its benchmark interest rate to zero and launching a new round of quantitiative easing.

Meanwhile, eight of the nation’s largest banks will suspend stock buyback and paying dividends to shareholders.

The idea is to keep more cash on hand to help with loans to businesses who are struggling due to the coronavirus.

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